Over 550 residential units have been ring-fenced for individual buyers in Wicklow over the last year.
The Housing Minister Darragh O' Brien has released a progress report on their Housing for All Programme, which shows over 15,800 homes have received planning permission nationwide with a condition attached to prohibit multiple sales to vulture funds.
Other measures include a 10 per cent stamp duty levy on the purchase of 10 or more residential houses in a 12 month period.
The Guidelines included requirements that a new form of condition be inserted in applicable new planning permissions, to the effect that:
- all houses would have to be made available for sale and for first occupation by separate, individual households for a period of two years after completion of the home. (In the case of mixed developments, the provision only applies to the houses and duplex units and not apartments.);
- exempts housing to be provided for social or affordable purposes from this requirement;
- and if, after a period of two years, the local authority is satisfied that despite reasonable efforts, a market has not emerged, the condition will lapse.