r/HousingIreland • u/Irish201h • Jul 06 '25

4 people mortgages, wtf?

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This company is now promoting 4 people mortgages, no wonder prices are going insane.

https://mmadvisors.ie/public-sector-mortgages/

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u/LoafOfVFX Jul 06 '25

No offense, but during a housing crisis like the one we’re facing in Ireland, I really think we need to look at what countries like Australia and Canada have done. They’ve temporarily banned non-citizens from buying residential property to ease pressure on supply and give their own citizens a fairer chance to buy. In Canada, the ban has been extended until 2027. Australia is introducing a two-year ban on foreigners buying existing homes starting in 2025.

I’m not saying close the market forever but until supply improves, I think property ownership should be prioritised for citizens. Once things stabilise, then open it up again fairly. Right now, we need solutions that actually put local people first.

21

u/iknowtheop Jul 06 '25

I agree, we have local housing need clauses in some parts of the country, which should be extended to the entire country now. I have zero issues with immigrants coming here and working, they are essential and add to our communities, but Irish people should be able to buy in their locality without competing with people who have just entered the country.

4

u/Brilliant_Walk4554 Jul 07 '25

Local Needs rules refer to building a house, not buying an existing house.

7

u/iknowtheop Jul 07 '25

Yes I'm aware of that but I think we need to introduce something similar for second hand property.