Action Plan for Housing and Homelessness - Property Insurance
The Chairman of the Irish Property Owners’ Association claims that the the Government's "Action Plan for Housing and Homelessness" is disappointing. He said it is only "hot air presented to satisfy the critics."
Part of the problem according to the Association is the penal tax treatment of the sector. This was mentioned in the proposals and will not help when costs increase along with standards.
"hot air presented to satisfy the critics."
With supply the issue the State needs to treat the rental sector like any other business. The report discourages investment in the sector.
According to The Chairman of the Irish Property Owners’ Association,
"The Government and Minister Coveney need to stop the exodus of Property Owners from the sector, over 41000 Property Owners left the Private Rental Sector in the 3 years 2012/2015 (RTB) with many more lining up to exit as soon as the market improves. To be told by this report that you must sell your property with Tenants in situ, is to say the least the death knell for the Investor small or large."