Measures to tackle investment funds to go before cabinet on Tuesday

WAGE SUBSIDY SCHEME BEING REPLACED

Up to 50% of future housing estates could be reserved for first time buyers.

It’s one of a number of measures set to go before government ministers on Tuesday, aimed at tackling bulk-buying by so-called cuckoo funds.

The Sunday Times reports a ban on the sale of housing estates under a certain density’s also being considered.

Sinn Fein Housing spokesperson, Eoin O’Broin, says proposing to reserve half an estate for first time buyers isn’t enough.

“The idea that investment funds can come in and buy up whole estates, or even half an estate that was meant for first time buyers, is completely unacceptable.

“It shouldn’t be 50%, it should be 100% but we have to wait and see what the government is proposing.”

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