Ireland’s post-homeownership society: How has the presence of Real Estate Investment Trusts (REITs) in Ireland been a contributing factor in the creating and sustaining of Ireland’s ‘Generation Rent’ since the fallout of the Celtic Tiger?

Morris, Kate (2022) Ireland’s post-homeownership society: How has the presence of Real Estate Investment Trusts (REITs) in Ireland been a contributing factor in the creating and sustaining of Ireland’s ‘Generation Rent’ since the fallout of the Celtic Tiger? Masters thesis, Dublin, National College of Ireland.

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Abstract

Real Estate Investment Trusts were first introduced to the Irish property landscape just over a decade ago. They represents a solution that emerged as a form of crisis response at a time when Ireland’s property market had been decimated in the wake of the Celtic Tiger collapse and banking disaster. Since then, the Irish property market rebounded with growth exceeding expectations, yet REIT framework remains in place. Today, Ireland faces a housing crisis that is characterised by lack of affordability, availability and insufficient government supports in terms of social housing. The result has been the emergence of ‘Generation Rent’ which describes a portion of the population with hugely diminished prospects of homeownership. This research seeks to investigate the relationship between REITs in the context of the Irish government’s prioritisation of attracting investment from abroad, and the role of taxation in doing so, throughout the Celtic Tiger growth, recovery and housing crisis today.

To test the core hypothesis that the presence of REITs in Ireland since the fallout of the Celtic Tiger has been largely negative, qualitative research was carried out by conducting interviews with individuals across unique and varying backgrounds in sectors such as real estate, government, academia and institutional investment funds. Their responses were analysed and formed a basis for structuring existing secondary data around the themes that emerged throughout the process in an attempt to answer the research question.

Through in-depth analysis, it was found that affordable housing can never be achieved when the large-scale purchasing of property is firmly written into policy and encouraged through tax incentives, leaving the Irish public to compete for housing with multibillion euro institutional investors.

Item Type:	Thesis (Masters)
Supervisors:	Name Email Macdonald, Robert UNSPECIFIED
Subjects:	H Social Sciences > HF Commerce > Foreign Investment H Social Sciences > HD Industries. Land use. Labor > Specific Industries > Property Industry H Social Sciences > HJ Public Finance > Taxation
Divisions:	School of Business > Master of Science in International Business
Depositing User:	Tamara Malone
Date Deposited:	22 Mar 2023 10:30
Last Modified:	22 Mar 2023 10:30
URI:	https://norma.ncirl.ie/id/eprint/6378

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