Greystones in Co Wicklow and Drogheda Co Louth have been added to the Government’s list of rent pressure zones, Minister for Housing Eoghan Murphy announced on Tuesday.
Both areas have witnessed what Mr Murphy described as “exceptional rent increases” in the four of the six previous quarters. Like other rent pressure zones (RPZs), they will now be subject to an annual 4 per cent cap on rent increases.
Mr Murphy said the latest figures indicated that RPZs had had some effect in modifying rent increases.
According to figures from the Residential Tenancies Board released on Tuesday the average cost of renting a home in the Republic jumped by 6.6 per cent in the year end to the end of June and the cost of renting in Dublin was now almost 11 per cent higher than it was at the height of the Celtic tiger at the end of 2007.
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