State invested in ‘cuckoo fund’ that snapped up hundreds of Maynooth homes

More than €225m of government funding earmarked for housing supply was instead used by funds to buy up houses and apartments in Maynooth, Co Kildare

16th May, 2021
State invested in ‘cuckoo fund’ that snapped  up hundreds of Maynooth homes
In 2019, Urbeo bulk-purchased nearly two-thirds of the 143 new-build homes in Carton Grove housing estate in Maynooth

The Irish state invested in a so-called cuckoo fund that has bulk-bought hundreds of homes in two Maynooth housing estates, the Business Post can reveal.

More than €225 million of government funding that aimed to stimulate housing supply was ultimately used by funds to buy up houses and apartments before they could be put on the open market for regular buyers.

Urbeo, an institutional fund majority owned by a US-based company, received a €60 million...

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