Kerry auctioneer says no evidence of vulture funds bulk-buying properties in the county

A Kerry auctioneer says there’s no evidence of vulture funds bulk-buying properties in the county.

So-called vulture funds are investment funds which generally seek to purchase properties which are in financial distress.

In recent months, the government imposed some restrictions to lessen the impact of large investment funds bulk-buying housing developments; this includes a stamp duty charge on purchases of ten or more homes.

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Paul Stephenson of Sherry Fitzgerald Stephenson Crean says there has been strong investment in the county from a number of parties, including local authorities with social housing developments and people relocating back to Kerry.

However, he believes vulture funds aren’t prominent in Kerry housing market.

RadioKerryNews – Radio Kerry

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