Property owners have welcomed Taoiseach Micheál Martin’s suggestion that Rent Pressure Zones (RPZs) could be replaced with an alternative system. The Irish Property Owners’ Association (IPOA) expressed strong support for potential changes to the current regulations, which limit annual rent increases to 2% in designated high-pressure areas.
Currently effective until December 2025, RPZs were introduced in 2016 to address housing affordability concerns. However, IPOA chairperson Mary Conway argues these zones have driven landlords from the market and reduced tenant choice.
According to The Journal, while the Residential Tenancies Board reported a 5.7% increase in private landlords to 104,327 as of December 2024, the IPOA questions these figures, citing ongoing data and registration issues.
The government is considering a “reference rents” system, recommended by the Housing Commission, which would link rent increases to local market rates for similar properties. Threshold CEO John-Mark McCafferty cautioned that implementing such a system would require extensive data analysis and careful consideration of renter protections.
The debate highlights the challenge of balancing tenant protection with market stability as Ireland continues to grapple with its housing crisis.