Rent pressure zone will have a limited effect – Limerick Post

Sinn Fein TD Maurice Quinlivan. Pic. Emma Jervis/ Press 22

THE designation of Limerick City East as a Rent Pressure Zone (RPZ) will have a limited effect on the local housing crisis.

Confirmation that the qualifying criteria for RPZ has been met means that rent increases in areas around Castletroy, Monaleen and Annacotty will be limited to four per cent per annum.

The Residential Tenancies Board (RTB) says that this happened because the standardised average rent grew by at least seven per cent in the last six consecutive quarters. The average rent, at €1,134.45, was above the national average for the first time in the last three months of 2018.

RTB Director Rosalind Carroll said that the Rent Index had provided important data that enabled them to designate two new Rent Pressure Zones in the Local Electoral Areas of Limerick City East and Navan.

“These are the first RPZs to be designated

Continue reading this atricle at https://www.limerickpost.ie/2019/04/04/rent-pressure-zone-will-have-a-limited-effect/