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The Irish Sun

‘I wouldn't be able to predict', admits Minister on timeline for Ireland's sky-high rent prices to fall amid reform laws

HOUSING Minister James Browne has no idea when Ireland's sky high rent prices will start to fall – despite introducing a slew of major reforms to rental rules for tenants and landlords. The average Advertisement 2 The number of new apartments to rent being built has collapsed in Ireland in recent years Credit: Getty Images - Getty 2 Minister James Browne said that the only way to bring down rent prices in Ireland was to increase supply Credit: 2025 PA Media, All Rights Reserved At the same time, the number of new Today the Currently, rent pressure zone rules mean landlords in designated areas of the country can only raise their rent by two per cent per year. However, there are a series of problems with this system with rents regularly climbing above this two per cent cap. Advertisement READ MORE IN PROPERTY The Government claims that this cap is also a deterrent for international investment Today, Firstly, the two per cent rent pressure zone cap will now be extended to the entire country for people currently living in existing rental properties. However, this cap will not apply to newly built apartments. Advertisement Most read in Money Instead, landlords who own newly built apartments will be able to increase their rent every year in line with The third change will see new six year terms introduced for renters from next year with landlords able to 'reset' their rent to market value at the end of each six year term. CHANGE TO RULES The final change will see 'no fault evictions' outlawed for large landlords who own more than three properties. This means these landlords cannot boot out tenants where there has been no breach of the rental agreement. Advertisement Minister Browne said that the only way to bring down rent prices in Ireland was to increase supply. The Asked directly if he believes the price of rent in Ireland will fall over the next two years on the back of his new changes, Minister Browne said: 'I expect rents to fall over time. What that particular length of time is I wouldn't be able to predict.' The launch of the new rules caused significant confusion in the Advertisement 'SACRIFICIAL LAMB' Ironically, Minister Browne told the media that the changes were being introduced to 'simplify' rental rules. Advertisement Taoiseach