Call for 1% cap on ‘unsustainable’ rent increases for three years – The Irish Times

The maximum a landlord can increase rent by should be capped at 1 per cent for three years to bring housing inflation in line with EU monetary policy and prevent further homelessness, the Dáil has heard.

Labour leader Brendan Howlin said efforts to tackle rent inflation are not working because the creation of rent pressure zones had given landlords a signal to increase their prices by 4 per cent a year, which was pushing people out of properties.

He made the call as 19 more locations were added to the list of rent pressure zones, introduced to cap rent increases in areas of high housing demand.

Mr Howlin said the 4 per cent maximum annual increase “is far too high” when wages were increasing at less than half that rate. He also pointed to the European Central Bank’s (ECB) decision to set a 2 per cent non-optional ceiling for inflation.

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