The Housing Minister has been called to explain his plans for Part V of the social housing obligations after reports revealed property investment fund Bartra Capital is planning to acquire them.

According to recent reports a property investment fund is to launch a €100 million fund to purchase Part V social housing obligations from property developers or local authorities to move towards the privatisation of social housing provision.

Sinn Féin TD and spokesperson on Housing, Planning, and Local Government Eoin Ó Broin said he was "alarmed" by the reports.

Deputy Ó Broin said:

He said: "The proposal as reported in yesterday's Sunday Business Post suggests that an investment fund will buy out a private developers Part V commitments, build the units and lease them back to the state for profit.

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"If this report is accurate, then what should be social housing owned by the state will become private housing leased back to the state at greater cost with less benefits to tenants and communities.

"The current Part V obligations are only 10% of the housing development. Instead of these units being added to the State’s social housing stock via local authorities or approved housing bodies, they will be privatised adding further to the government’s over reliance on private sector to fill the gap left by its failure to build sufficient social housing units.

"With only 75 social housing units built by local authorities in 2015, Part V obligations, however limited, add much needed housing units to the social housing stock.

"The Housing Action Plan suggests that up to 6,000 real social houses will be produced a year for the next six years. How many of these units will be owned by property investment funds, like Bartra Capital, for a profit?

"The government cannot continue to over rely on the private sector to meet all the various and complex housing needs of its citizens."

(CD/MH)