Local anger as Ryanair buys up almost all homes in Dublin estate for staff

Ryanair said the purchase was made due to the  issue of affordability impacting staff recruitment. Picture: PA

Ryanair's purchase of nearly all the homes of an estate in Swords, Co Dublin, for its staff has "caused a lot of anger locally" from would-be homeowners, it has been claimed.

The airline confirmed it had made the purchase at 25 of 28 homes in Fosterstown in Swords, close to Dublin Airport, to provide affordable housing for its staff. 

Housing Minister Darragh O'Brien said he understood that locals would be frustrated by being effectively muscled out by a major corporation. He said planning law changes, which allow councils to designate up to 50% of developments for individual buyers, only applied to planning permissions made before May 2021. 

Ryanair would pay 10% stamp duty on the homes, but that the purchase is a "small percentage" of the overall home sales across the town, Mr O'Brien said.

Housing Minister Darragh O'Brien said he understood that locals would be frustrated by being effectively muscled out by a major corporation. Picture: PA

Tánaiste Micheál Martin said Ryanair's plans must be taken in "overall perspective" and that planning law changes made in 2021 had protected homes. The "overall perspective of what's happened since the law was changed" cannot be ignored, he claimed. There is a "false perspective" that vulture funds were "buying up homes across the country", Mr Martin said.

Ryanair said the purchase was made due to the ongoing issue of affordability impacting on recruitment of staff. 

Warnings about the impact of the housing crisis on staff recruitment and retention have been widespread across both public and private sectors, but while anecdotal evidence suggests that some companies have purchased homes for staff, Ryanair's decision to buy 25 homes in one estate is a major departure.

"Ryanair confirms that it has purchased 25 new-built units in Fosterstown, Swords, in order to ensure that it can provide high quality but affordable rentals close to Dublin Airport for new cabin crew who are joining Ryanair based in Dublin, to help us maintain Ryanair’s flight schedules for up to 33 Dublin aircraft.

"In recent years the absence of affordable rental accommodation has been a major impediment to recruiting and training new Irish and European cabin crew members to Ryanair’s in-flight team," the airline said.

"This accommodation, which is located one bus stop from Dublin Airport, will be rented at affordable rates to Ryanair cabin crew during their first year of employment."

Local Labour TD Duncan Smith said the news had caused "a lot of anger locally".

Labour TD Duncan Smith said the news had caused 'a lot of anger locally'. Picture: Gareth Chaney/Collins

"There's a huge demand for new homes in Swords. There was a lot of expectation that these homes, which are in a great location, would be on the open market, so it still does lead to disappointment to local people."

Social Democrats housing spokesperson Cian O'Callaghan said the purchase showed a housing system that was not functional.

“It is already hard enough for people looking to get a place of their own when rents are at the highest ever level and house prices 6% above their Celtic Tiger peak," he said.
“Add to that, having to bid against international investment funds and global companies, and it is no wonder there are over half a million adults stuck living in their childhood bedrooms.
"What are our schools supposed to do about their teachers? Should the gardaí enter the property market? Will the HSE need to become Ireland’s largest landlord?"