Tánaiste Leo Varadkar has rejected calls from Sinn Féin spokesperson for Housing, Local Government and Heritage Eoin Ó Broin to implement a three year ban on rent increases.
Ó Broin asked Varadkar: “Will you urgently introduce a ban on rent increases for three years?”
Varadkar replied: “Landlords are leaving the rental market – and bear in mind most landlords, and I’m not one of them, only owns one property or two. 86% only own one property or two.’
“So, we need to balance that, too. One person’s rent is another person’s income. It might be their pension, it might be how they pay the mortgage.”
“In a time of rising prices and in a time of rising interest rates… if you freeze rents absolutely to zero, that could mean an income cut for another person, a pension cut for another person or another person unable to pay the mortgage on their property… causing more landlords to leave and fewer rental properties on the market.”
Varadkar went on to say that the only real way to bring rent prices down is to provide more supply.
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