In response to skyrocketing rent prices and housing shortages, the Irish Government has extended its rent pressure zones (RPZs) nationwide, capping rent increases to 2% per year. This move seeks to stabilize the housing market and protect renters, though critics, including opposition leader Mary Lou McDonald, argue it could undermine the effectiveness of rent controls. The success of these measures falls on Minister James Browne, as the government faces mounting pressure to address the housing crisis decisively. The full impact of these reforms will not be clear for several years.
The latest effort from the Government is a rewriting of the rules around rent pressure zones, but it will take years before we know if it's a good plan or not.
Taoiseach Micheál Martin said the reasons for introducing the measures were to offer policy certainty and protection for renters, and to boost supply.
The RPZ system, due to expire at the end of the year, has in effect been extended nationwide and sees all existing tenancies in Ireland come under a 2pc cap.
Sinn Féin leader Mary Lou McDonald said it was effectively the 'death knell of rent pressure zones'.
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