Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Deputy. This is a measure designed, principally, to retain investment in the private rental sector. The trend in recent years has been very clear. The evidence is there for everyone to see. Over the past year, more than 24,000 notices of termination have been received, and 14,500 of these were stated as being due to the landlord selling the property. Some 60% of all notices of termination issued in the past year have been due to landlords selling the property. Between the first quarter and third quarter last year, 15,000 notices of termination were issued to tenants. Of those, more than 9,000 were because the landlord intended to sell the property. We clearly have a significant challenge, therefore, in supply in the private rental sector and it is important that we use the policy instruments available to the Government to attract landlords into the sector and, principally, right now, to retain the existing investment we have to ensure people can access rental accommodation where they need it.

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