Brendan Burgess
Founder
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The lecturer is an economist with the Central Bank
Hybrid Meeting
RDS Merrion Room
Thursday January 26th at 5.30pm
Register here
The Statistical & Social Inquiry Society of Ireland invites you to attend the third Ordinary Meeting of its 176th session, where this year's Barrington Lecture will take place.
The lecture, entitled "Institutional Investment in Housing: Financialisation 2.0 in the Case of Ireland", will be given by Pierce Daly. An abstract is given below and a draft paper is available www.ssisi.ie
Abstract: This paper examines the growth of institutional housing investment in Ireland, part of a global phenomenon known as ’Financialization 2.0’. Using a unique Institutional Investment Database (IID) produced specifically for this study, I present the most granular assessment of institutional investment in Irish housing to date. While institutional investors represent an important source of capital for housing development, results suggest their role in supporting new supply is more nuanced than generally presented by industry stakeholders. Between 2012 and 2018, institutional investors primarily acquired second-hand units, with investment in new housing only dominating since 2020. Moreover, when new housing purchases by investors that receive public-financing are excluded, along with new units purchased from major Irish home-builders, the role of solely private funded investors in supporting new supply appears less significant. This highlights the need to distinguish between Irish home-builders and institutional investors in national statistics on housing supply, given fundamental differences in their business models. Separately, results present new detail on the location, type and names of this concentrated group of investors. As well as the evolving role of different investors over time. The concentration of investment in Dublin (and within specific eircodes) coupled with the growing share of institutional purchases relative to other buyers demonstrates the potential for such investment to impact house prices. Equally, their rising share of the private rental stock in Dublin suggests similar potential to impact rents. In combination, these results highlight the need for further research on benefits and costs of institutional investment. Finally, further consideration of the present housing policy frameworks may be required to more effectively direct institutional investment towards new housing development.
The meeting will have a hybrid format, with an opportunity to attend physically at the RDS or online. The physical meeting will be held in the Merrion Room at the RDS, which you can access through the RDS Members Club (Merrion Road Entrance, Geo Code: 8QHC+86 Dublin). There is free parking for attendees. While the meeting will start at 5:30, please join us for Tea & Coffee 15 minutes beforehand.
As ever, non-members are welcome to attend and participate in the discussion and we hope that you would circulate to others who may be interested so that they may also register their interest and attend on the day.
Hybrid Meeting
RDS Merrion Room
Thursday January 26th at 5.30pm
Register here
The Statistical & Social Inquiry Society of Ireland invites you to attend the third Ordinary Meeting of its 176th session, where this year's Barrington Lecture will take place.
The lecture, entitled "Institutional Investment in Housing: Financialisation 2.0 in the Case of Ireland", will be given by Pierce Daly. An abstract is given below and a draft paper is available www.ssisi.ie
Abstract: This paper examines the growth of institutional housing investment in Ireland, part of a global phenomenon known as ’Financialization 2.0’. Using a unique Institutional Investment Database (IID) produced specifically for this study, I present the most granular assessment of institutional investment in Irish housing to date. While institutional investors represent an important source of capital for housing development, results suggest their role in supporting new supply is more nuanced than generally presented by industry stakeholders. Between 2012 and 2018, institutional investors primarily acquired second-hand units, with investment in new housing only dominating since 2020. Moreover, when new housing purchases by investors that receive public-financing are excluded, along with new units purchased from major Irish home-builders, the role of solely private funded investors in supporting new supply appears less significant. This highlights the need to distinguish between Irish home-builders and institutional investors in national statistics on housing supply, given fundamental differences in their business models. Separately, results present new detail on the location, type and names of this concentrated group of investors. As well as the evolving role of different investors over time. The concentration of investment in Dublin (and within specific eircodes) coupled with the growing share of institutional purchases relative to other buyers demonstrates the potential for such investment to impact house prices. Equally, their rising share of the private rental stock in Dublin suggests similar potential to impact rents. In combination, these results highlight the need for further research on benefits and costs of institutional investment. Finally, further consideration of the present housing policy frameworks may be required to more effectively direct institutional investment towards new housing development.
The meeting will have a hybrid format, with an opportunity to attend physically at the RDS or online. The physical meeting will be held in the Merrion Room at the RDS, which you can access through the RDS Members Club (Merrion Road Entrance, Geo Code: 8QHC+86 Dublin). There is free parking for attendees. While the meeting will start at 5:30, please join us for Tea & Coffee 15 minutes beforehand.
As ever, non-members are welcome to attend and participate in the discussion and we hope that you would circulate to others who may be interested so that they may also register their interest and attend on the day.