Irish Government Considers Revisions to Rent Control Policies

Sitting Irish tenants will not see rent increases exceeding the current 2% annual limit under new reforms to rent controls being considered by the government. Irish Prime Minister Micheal Martin emphasized the protections for current renters, while reforms will shift focus to new builds.

Ireland, which introduced rent controls in 2016 to curb rapid rental cost increases, is now considering changes that would allow rents on new constructions to align with inflation rates. This comes as the government aims to boost homebuilding rates that have stalled significantly in past years.

Opposition parties critique the potential changes, citing more than double the rent costs since 2013. However, property developers argue that existing rent controls and rising interest rates have contributed to slow construction progress, affecting the government's housing targets.

(With inputs from agencies.)