Ireland's Top Private Landlord Believes Rent Zones Have "Choked" Supply
By Evan Dalton Photo : Fergal Phillips Ireland’s top private landlord believes Rent Pressure Zones [RPZs] have “choked” the supply of properties, amid potential reform of the regulation by the Government. Eddie Byrne, CEO of Irish Residential Properties REIT, who owns approximately 4000 properties in Dublin and Cork, has welcomed the intent from the government to reform current RPZ regulation as he believes it is decreasing the number of available properties for tenants. RPZs were introduced into Ireland in late 2016, with the rent cap set at 4 per cent per annum. Annual rent prices were then limited to the lower of the general rate of inflation, or 2 per cent per annum, from December 2021. Contrary to this legislation however, a Housing Commission report in 2024 showed that rents for new tenancies in Dublin’s RPZ rose by 6.5 per cent in 2023, while existing tenants saw just over a 5 per cent increase. Despite 42 per cent of landlords leaving the market in...