Cyprus-based cuckoo fund trying to sell up to 120 Irish homes due to 'poor return' on investment

A cuckoo fund responsible for the acquisition of hundreds of distressed properties in Ireland is now seeking to sell dozens of them due to a lack of sufficient returns. Their efforts to recoup losses have resulted in the issuance of invalid eviction notices to tenants, bringing them under scrutiny by the Residential Tenancies Board. This not only raises questions regarding the legality of their eviction attempts but also the broader implications for housing stability in the region.

The financial strain on tenants has become increasingly evident, as some have accumulated arrears approaching €20,000. This situation underscores the challenging economic landscape faced by many renters, particularly in the aftermath of aggressive property acquisitions by investment firms. The interplay between investor interests and tenant rights is at the forefront of this controversy, highlighting the urgent need for regulatory oversight to protect vulnerable populations.

Read at Independent