Call for property sales cash to help homeless

THE chairman of the Irish Property Owners Association (IPOA) has called for the Government to set aside €50 million for homeless causes from the €4.6 billion to be paid by property owners in 2007.

Stephen Faughnan said: “During next year alone some 90,000 new homes will be built in Ireland and according to economic reports, 43% of these units will be purchased by investors, thereby handing €4.6bn to the Exchequer.

“Of new house sales 40% goes to the State coffers and annually, €220m will go to the State in income tax from the 2007 new house purchases by investors alone.”