Government to oppose Sinn Féin motion to increase stamp duty for investment funds bulk buying homes
Sinn Féin will table the motion on Wednesday after the Business Post revealed 85 per cent of a Dublin housing estate was snapped up by a fund
The government will oppose a motion by Sinn Féin on Wednesday to increase stamp duty on the bulk purchase of homes by investment funds, cabinet decided on Tuesday.
Sinn Féin is tabling the motion after the Business Post reported that Deutsche Bank’s investment arm acquired 85 per cent of homes in Belcamp Manor, which are now being advertised to rent at €3,175 per month.
A new stamp duty rate of 10 per cent was introduced in 2021 following public outcry after the this newspaper revealed that Round Hill Capital, a global investment firm, struck an agreement with a developer to bulk buy more than 100 homes in the Mullen Park estate in Maynooth in Co Kildare.
