Oliver Callan: lack of organised protest sees rents in Ireland rise unchecked
There is no coherent strategy from any protest movement on this crucial issue
The rental crisis should be tackled in the budget. The Government says there’s no room for giveaways, such as reintroducing rent relief, but oddly there’s no room to collect tax from booming corporate landlords either. Photograph: Getty Images
The contrast in tax breaks between renters and their landlords has never been more stark. Just three years ago, a couple could claim €1,600 on rent relief, enough to pay a full month’s rent that year in the most expensive area, south County Dublin.
In 2019, rent relief is zero and the couple now pay an average €2,200 for the same home. In the meantime, investment funds are buying up tens of thousands of apartments to rent. Last year, these firms paid just €12.8 million tax on hundreds of millions in profits. To put this into context, one firm, Ires Reit, made €119 million profit on 2,679 apartments in 12 months.