New rental properties or new tenancies that are exempt from Government rent pressure zone legislation may be the reason why rent controls have failed curb rent inflation, an industry group claims.
According to Residential Tenancies Board (RTB), rents rose at an average rate of 7 per cent in the second quarter of 2021 to stand at €1,323 per month nationally and €1,848 per month in Dublin.
The RTB data also indicated that there 14,140 new tenancies registered during the three-month period.
However, the Institute of Professional Auctioneers and Valuers (Ipav) claims the figures do not differentiate between new and existing rental stock, or between properties that are inside or outside the rent pressure zones.
Hence, the Government cannot effectively determine which category of tenancy is driving inflation, it said.
Ipav’s chief executive, Pat Davitt, has written to the RTB seeking a more detailed breakdown of the figures.
“Of the 14,140
Continue reading this atricle at https://www.irishtimes.com/business/economy/new-rental-properties-may-be-driving-higher-rents-industry-group-claims-1.4711210