EXCLUSIVE: 50 Landlords Own 27,600 Homes In 26 Counties

EXCLUSIVE: We can now reveal that just 50 landlords own 27,600 homes in the 26 Counties. That’s roughly the same amount of homes as the entire of Galway City!

This staggering statistic emerged in response to a question that #Éirígí put to the Twenty-Six County Minister for Finance Michael Noonan (with thanks to Clare Daly for submitting the question).

These 50 Mass Landlords own an average of 552 homes each. This means that the housing needs of roughly 1,500 men, women and children are entirely reliant on the whims of each of these 50 Landlords.

At current rental rates each of these Mass Landlords receive an average rental income of:
€132,000 per WEEK
€572,000 per MONTH
€6,870,000 per YEAR

From information previously published by the 26 County Revenue Commissioners we know that an additional 72,500 homes are owned by a cohort of 3,200 landlords who own between 11 and 200 homes each.

In other words, roughly 3,250 Mass Landlords own 100,000 homes or 5% of the entire housing stock in the 26 County state.

For comparison the social housing stock directly controlled by the state is now less than 110,000.

This is the Ireland of 2016. One hundred years after a Rising that had its roots in the tyranny of Landlords of the 19th Century, a new class of Landlord – the Mass Landlord – is now accumulating property and wealth at an unprecedented rate

The only long-term solution to the current housing crisis lies in the de-commodification of the housing sector and a massive programme of social house construction.

Here is the text of the answer from Michael Noonan as supplied to Clare Daly.

DÁIL QUESTIONS addressed to the Minister for Finance (Deputy Michael Noonan) by Deputy Clare Daly
for WRITTEN ANSWER on 16/09/2016

* To ask the Minister for Finance the number of persons expressed in ordinary numbers, who are in the category of owning 201 plus properties for the purpose of Local Property Tax.
– Clare Daly T.D.

For WRITTEN answer on Friday, 16 September, 2016.

* To ask the Minister for Finance if he will provide the Local Property Tax receipts by year, in tabular form, since its introduction; and if he will make a statement on the matter.
– Alan Farrell T.D.

For WRITTEN answer on Friday, 16 September, 2016:

“I am advised by Revenue that statistics relating to Local Property Tax (LPT) can be found on the statistics webpage of the Revenue website athttp://www.revenue.ie/en/about/statistics/index.html. This includes receipts information in respect of 2013 to 2015 available athttp://www.revenue.ie/en/tax/lpt/lpt-stats-2013-2015.pdf and to end June 2016 is available at http://www.revenue.ie/…/sta…/local-property-tax-june2016.pdf. Updates to these statistics will be provided in due course.

In relation to Question 24453/16, LPT information in respect of owners of in excess of 201 multiple properties is included in the statistics on the Revenue website. I am advised that, due to the still preliminary nature of the Revenue LPT register, any such figure is provisional and subject to change. However, I am advised by Revenue that it is estimated that the number of liable persons owning more than 200 properties is approximately 50.”