The Minister for Housing has recently spoken out in support of new measures aimed at addressing issues within the rental market. James Browne emphasized the importance of striking a balance between protecting tenants and supporting investment in the sector.

During a speech in Galway, the Minister acknowledged the complexity of the planned legislation, attributing it to the significant challenges the country is currently facing in terms of accommodation. He highlighted the need for a tailored approach to tackle the multifaceted issues at hand.

Minister Browne emphasized the necessity of safeguarding the rights of tenants while also incentivizing investors to engage in building projects. He stressed the importance of enhancing the supply of rental properties while ensuring the security of existing tenants.

Addressing concerns around Rent Pressure Zones (RPZs), where rent increases are capped at two percent, the Minister pointed out the potential financial risks for investors if inflation surpasses this threshold. He acknowledged the need to bridge the "viability gap" for new constructions and hinted at forthcoming measures to rectify this.

One of the key announcements made by the Minister was the introduction of a minimum security of tenure of six years starting from next March. This move aims to provide renters with stability while allowing landlords to adjust rents periodically within reasonable limits.

Minister Browne also touched upon the issue of short-term holiday lets impacting the rental market. He highlighted the Government's commitment to prioritizing long-term housing solutions over short-term rental options, proposing legislation to restrict short-term lets in certain areas without planning permission.

He emphasized the need for stronger enforcement of existing regulations around short-term lets and expressed openness to granting more authority to local authorities for enforcement purposes.

Overall, the Minister's remarks underscored the Government's proactive stance in addressing the housing crisis and ensuring a fair and balanced rental market for both tenants and investors.