Pace of rent increase slows to 7% after caps introduced

Rents rose by over 7% in the first quarter of the year, but the rate of increase has slowed.

But the Residential Tenancy Board (RTB) said it’s still too early to say if the slowdown is linked to the introduction by the Government last year of rent pressure zones (RPZs) — a move which capped hikes in high-rent areas.

The first figures since the introduction of RPZs, show while rent rates in Dublin dropped slightly in the first quarter of the year compared to the same period last year, the capital’s rental rates are still running at 8% above their late 2007 peak.