Social Housing as a portfolio and why I always say that “it’s the crime that’s legal.” Thread.
Firstly, these are 60 homes, not a portfolio. But the agent selling them Allied Irish Property is basically Cash For Gold/Pound Shop DNG.

Now some numbers.
Rental per year is €925k
So that’s an average of €15,866 per year per unit.
That’s €396,666 per unit after the 25 years.
That’s €23.8m from the State for a portfolio that is priced at €21m AND after 25yrs you still own the 60 units

So you pay €21m, then the State pays you almost €24m, and then after 25yrs you can sell or sign a new lease. The crime is what’s legal.

Important to point out that this “Enhanced Leasing” was brought in by Eoghan Murphy, but saying that might mean I’m not being kind.