Monday 14 October 2019

Concerns over sale of local homes to private equity funds

Developers and private equity funds cannot be allowed to dictate housing market.

That is according to Labour Candidate for Lusk - Rush LEA, Corina Johnston, who has criticised the sale of first time buyers' homes in Donabate and Balbriggan to a private equity fund.

Ms Johnston has called on the Minister for Housing, Planning and Local Government to state what measures are being put in place to address this while ensuring transparency in the planning process.

Ms. Johnston said: 'While there is nothing legally preventing these transactions, the implications in the long term on the transparency of the planning process needs to be questioned.

She concluded: 'Any plans to sell to private investment funds should be disclosed during the planning process. The Minister needs to ensure full disclosure by developers.

Fingal Independent