Micheál Martin has said housing is now the Government’s “number one priority.”
The Taoiseach was speaking to reporters outside Dublin Castle as he made his way into the weekly Cabinet meeting of Government ministers.
The country has been shocked by the revelations last week that foreign vulture funds have been buying up whole housing estates from under the noses of first-time buyers.
Mr Martin has promised Government action and pledged before Cabinet that first-time buyers will now be given priority.
The Taoiseach last week described the vulture funds’ actions as “unacceptable.”
He said this morning: “In terms of the housing situation, let there be no doubt that the Government with regards to housing issues it’s our number one priority.
“We will be doing everything we possibly can to provide housing for people but we have to get the supply.
“And in that context we have committed already to the largest public housing programme in the history of the State.
“This year and over the next five years there will be over 50,000 social houses built.
“But we have to do more than that, in terms of private affordable housing and in terms of giving first time buyers priority in the marketplace.
“And there is the immediate issue of dealing with the REITs (Real Estate Investment Trusts; a formal name for vulture and cuckoo funds) and so forth and their impact.
“The Minister (for Housing, Darragh O’Brien) will be dealing with that, but there won’t be a decision on that today, it will be discussed.”
