Micheál Martin argues that private investment needs a stable environment to increase housing numbers
Taoiseach Micheál Martin has said there will be changes to rent pressure zones, including their possible removal. Photograph: Charles McQuillan/Getty Imageswould explore an alternative to RPZs between now and the end of the year when they are due to expire.
RPZs were introduced in Ireland in late 2016 and have been designed to cap rent increases in areas where there is high demand for housing and for rental homes.but now apply to urban areas in 17 of the 26 counties. Where an area has been designated a RPZ, rent increases cannot be greater than the rate of inflation, or 2 per cent, whichever is the lower.
Asked whether those changes might lead to rent increases, Mr Martin said what was needed most was stability around the environment governing investment that “won’t start changing from year to year for political reasons”. “The Government is spending huge amounts of money in housing, record levels of spending. The State can’t do it all on its own, and we have to be honest about that,” he said.He said that inflation had fallen significantly. He said that changes in social protection and tax structures would help people but there would be no energy credits this winter.
“I have a broader duty as Taoiseach to protect the economy, to protect people’s livelihoods in this country.
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