Local TD and Minister for Housing, Local Government and Heritage, Darragh O’Brien TD, has welcomed the publication of a Bill that will cap rent increases at 2% per annum in Rent Pressure Zones.
his new cap will only operate when general inflation is higher than 2%.
The Bill also provides for tenancies of unlimited duration, a key reform committed to under Housing for All, the Government’s recently published plan to create a sustainable housing system in Ireland.
The Bill will be progressed to enactment as a matter of priority. The rent increase cap will apply immediately upon enactment.
The previous cap of 4% on annual rent increases was replaced on 16 July 2021, with rent increases in RPZs currently prohibited from exceeding general inflation as recorded in the Harmonised Index of Consumer Prices (HICP).
The aim was to bring about far lower rent increases for the estimated