Government denies 'political stroke' to help cuckoo funds buy homes

Measure would allow stamp duty be refunded when property is leased for social housing

Finance minister Paschal Donohoe defended the amendment which would permit the refunding of the special stamp duty — on 10 or more properties — if they are leased for social housing. Picture: Sam Boal/RollingNews.ie

The Government has denied accusations it is incentivising the purchase of homes by investment funds through a "sneaky" amendment to a Finance Bill.

Under new planning rules announced in May, a 10% stamp duty for bulk purchases of 10 or more properties will apply to any purchaser.