Housing Minister insists cuckoo funds will not drive up apartment rents 

Darragh O'Brien said he had been advised against adding apartments as this could have "a catastrophic effect in relation to future developments of apartments"

Housing Minister Darragh O'Brien also strongly defended the decision not to include apartments in new measures introduced this week, which imposes 10% stamp duty on investors who buy up 10 homes or more in a single development. Photo: Sasko Lazarov / RollingNews.ie

Investment funds will be blocked from buying up apartment blocks and leaving them partially empty to drive up prices, under Government measures.

Housing Minister Darragh O'Brien said he is now working with Finance Minister Paschal Donohoe to clamp down on the hoarding of apartments.