Government vows to act as investment funds buy up whole estates

'Undesirable' practice works against the principle of home ownership, says Tánaiste

Mullen Park estate in Maynooth, Co Kildare. The 170-home estate has had 135 homes bought by Round Hill Capital. Picture: Eamonn Farrell/RollingNews.ie

The buying up of whole estates by large investment funds is “undesirable” and the Government is moving to prevent it from happening, Tánaiste Leo Varadkar has said.

Controversy has erupted since it was reported that a global property investment firm with a €1bn war chest has pushed out first-time buyers by purchasing most of a 170-home estate in the commuter belt.