Government rules on rent pressure zones have 'failed spectacularly', estate agents say

Under rent pressure zones, the amount a landlord can charge a tenant in rent can only increase by a maximum of 2% a year. Picture: RollingNews.ie

Ireland is experiencing a “deep downside” from rent pressure zone legislation, a group representing auctioneers and estate agents has said, as it welcomed a review of the rent controls promised by Government.

Reacting to the latest Daft.ie report highlighting a severe shortage of supply in the private rental market, the Institute of Professional Auctioneers and Valuers (IPAV) said it showed the Government’s policy in this area had “failed spectacularly”.