“While inflation in market rents is currently above 10%, and market rents have doubled over the past decade, 'stayer' rents are estimated to have increased by just 1.5% over the past year and by less than 40% over the past ten years.”
finally this report is separating new tenancies from existing ‘stayers’, and as expected it shows a huge difference in the market.
People who stay renting the same property long term have seen significantly lower rent price inflation, which presumably means the RPZ rules are actually being widely adhered to - the max annual rent rise for sitting tenants is 2%
Make it not attractive for the people supplying the cheap rents to stay in the game and they will leave the game.
Forcing tenants to leave and then pay top dollar for the few newer properties that come to the rental market.
I bet our housing minister hasnt asked himself what will happen if he caps the rent on newer properties now. Well thats easy, newer properties will stop coming onto the market.
This is a familiar feature of rent control. There are 2 categories created. Those on low controlled rents and those on high wild rents. The longer rent control goes on, the worse it gets.
The rental market here is a complete mess. I have been a tenant and landlord. I would not like to be either again. It needs a complete overhaul but unfortuneatley no Minister has had the balls to shake it up and make it fair for tenant and landlord.
policy is driven by the media and various left wing activist groups , unfortunately beit an FF or FG minister for housing is a slave to the approval of the aforementioned , thats unlikely to change anytime soon , it will probably get worse as while FF and FG hammer landlords to please the media etc , SF actually ideologically oppose the concept of private property being let for money
Unfortuneately you are correct. We will not have a functioning rental market until its relatively a fair market for tenant and landlord.
that wont happen , Both FG and FF are slaves to the opinion of progressive left opinion and unfortunately the irish public is easily conditioned by said progressive left opinion , its all they hear in the publics defence