Housing

Dublin’s Bulk Home Sales Spur Backlash Against Big-Money Buyers

A private equity firm’s swoop for family-friendly homes sparks uproar over crowding out individual buyers.

The Mullen Park development in Maynooth, Ireland, on May 10.

Photographer: Paulo Nunes dos Santos/Bloomberg

Brick-clad homes tucked in a series of small cul-de-sacs outside Dublin went on sale boasting tidy gardens, stylish bathrooms and even a charging point for electric cars — all for a fair price. But good luck buying one.

Round Hill Capital LLC agreed to purchase nearly 80% of the 170 houses in the Mullen Park development in Maynooth, a picturesque university town about a 45-minute train ride from downtown Dublin. Instead of owning a three- or four-bedroom townhouse with a door knocker and a fireplace, most of the future residents will be tenants paying monthly rent to the New York-based private equity firm.