IRELAND: REITs Included in Recently Published Finance Act 2013

Sunday February 3 2013

On 13 February 2013, the Minister for Finance, Michael Noonan T.D., published the Finance Bill 2013.

The Bill provides for the introduction of Real Estate Investment Trusts (REITs) as announced on Budget Day. REITs are an internationally recognised format for collective investment in rental property. It is hoped that REITs will facilitate the attraction of foreign investment capital to the Irish property market, helping to stabilise that market, and also releasing bank financing from the property market for use by other sectors of the economy. REITs also provide investors with an alternative lower-cost, lower-risk method for property investment.

Please see the above link for more details.