The coalition is facing backlash as it contemplates scrapping rent protections provided by Rent Pressure Zones (RPZs) at the year's end. Initially introduced in 2016 to curb excessive rent hikes, these protections limit rent increases based on a maximum of 2% or inflation. With the December 31 expiration approaching, the Government has not yet detailed a replacement plan, despite recommendations from the Housing Commission to adopt a fairer system pegging rents to local market standards. The Taoiseach anticipates an announcement soon, emphasizing the necessity of multiple measures to effectively address housing supply issues.
The decision on the future of RPZs will be made soon, as part of efforts to boost housing supply and attract institutional investors.
The Government has been urged to replace RPZs with a 'reference rents' system that aligns rents with local dwelling quality, ensuring fair market regulation.
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