Mattie McGrath attacked current housing policy, saying foreign entities are buying up 40% of homes and that existing measures fail to protect the property market. He demanded stronger residency and ownership tests, including a five-year residency rule and proof of business or employment, and criticised the minister's shift from 20% to 15%.
Main allegation
He said four out of every ten houses are bought by a monopoly from abroad and accused policy-makers of effectively selling national assets to foreign purchasers. He described the situation as a naked sale of public land and property and warned it blocks access to housing for local buyers.
Policy demands
McGrath called for strict limits on non-resident purchases - arguing for 100% restrictions unless buyers have lived in Ireland for five years or can prove a valid reason such as running a business or working here. He also said any minimum for foreign purchases should be much higher, at least 50% by his count, and criticised the minister for reducing the proposed figure from 20% to 15%.
Comparisons and precedent
He referenced other countries - saying Canada and Australia have taken action on foreign buyers - to underline his argument that stronger rules are possible. He used those examples to argue Ireland should not be exempt from similar restrictions.
Rhetoric and consequences
McGrath warned that the sale of properties to foreign entities leaves young couples and single buyers unable to get on the property ladder. He appealed to national sentiment, saying the men and women of 1916, 1921 and 1923 would be ashamed at what he called the selling out of the country.
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Mr. Speaker thank you Mr. Speaker. Mr, the Deputy McGrath, Deputy McGrath Mr. Mr Speaker I think this is utterly useless. ousessess, crudeless and无 tudoess four out of every ten houses are bought by a monopoly from abroad. did you ever see doubts about it. ... when in housing crisis you will not make up the fact that its a housing crisis and we have different scheme to give houses built and we will talk about whatever output... We're selling off 40% of them to foreign entities and you had a great kind exercise by Minister Richmond some weeks ago, you were going to raise the 20%, now you're 15. It should be 100% on these people, unless they live in Ireland, unless they have lived in Ireland for five years, unless they can prove they're here for a valid reason, that they have a business here, they're working here. So Canada have done this, Australia have done it, but here in Ireland, housing, we can't do it. We say come on to all these big foreign condolomers, buying up our land too, buying up Queen's the land, buying up the public's land, Ireland for sale with G, that's what it is. The men and women of 1916 and 21 and 23 would be shaming, turning their graves, what you're doing, selling out of our country. You invite them in here, how is a young couple, or a single person trying to buy on the property ladder when you have this kind of naked, basic sale of our assets and our properties and our houses, and you talk then about housing, what you're going to do. It should be at least 50%, minimum. Okay. So, welcome. Today we'll see you in the next one.
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