The Chairman of the Irish Property Owners’ Association (IPOA), Stephen Faughnan has claimed that the the Action Plan for Housing and Homelessness issued by the Government yesterday is disappointing.
 
Faughnan dismissed the report as nothing but "hot air presented to satisfy the critics."
 
The IPOA Chairman claims the penal tax treatment of the sector was not addressed and cost will increase with increased standards.

Faughnan stressed that providing rental accommodation needs to be valued by the State and treated as a business like every other business. He further re-iterated that supply is the issue and that the new report discourages investment in the private rental sector.
 
According to Stephen Faughnan, "The Government and Minister Coveney need to stop the exodus of Property Owners from the sector, over 41000 Property Owners left the Private Rental Sector in the 3 years 2012/2015 (RTB) with many more lining up to exit as soon as the market improves.  To be told by this report that you must sell your property with Tenants in situ, is to say the least the death knell for the Investor small or large."

Source: www.businessworld.ie