Government’s 0.3% vacant property tax is ‘laughable’, Dáil hears

The report found that a substantial increase in housing supply would be needed before house prices and rent prices would fall

Minister for Public Expenditure and Reform Michael McGrath (PA)

The Government’s vacant property tax of 0.3% has been criticised as “laughable” during Tuesday’s Dáil debate which was dominated by the housing crisis.

It comes after a report by a banking lobby group found that rents in Ireland have increased by more than 80% in 12 years, compared with an average increase of just 18% across the rest of the EU.