Minister for Housing Eoghan Murphy has said rent pressure zones are starting to work despite a 7 per cent year-on-year increase in rents nationwide.
Rents in Dublin increased in the second quarter to €1,713 a month, up from €1,599 for the same period last year. This amounts to a 7 per cent increase despite the city being declared a rent pressure zone three years ago. In such zones, existing rents are not allowed to increase by more than 4 per cent a year.
According to the data, the standardised average national rent for houses rose from €1,085 to €1,164, almost an increase of 7 per cent.
Rents across the country are 21 per cent higher than they were at the height of the boom in 2007 and 32 per cent higher in Dublin. Dublin accounts for 40 per cent of all tenancies in the country.
Speaking before the launch of
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