Private Rental Sector
In light of the pressures on the private rental sector, the NESC Council in June 2022 requested the Secretariat to undertake further work on this type of housing. A report has been prepared in response to this request and is in the process of being finalised by the NESC Council.
The report documents a major shift towards rental and away from home ownership in Ireland. The immediate crisis requires an increase in private rental along with all other forms of tenure. The report provides an evidence base for further immediate action on tax, vacant property and regulation. It also provides a foundation for a much wider and longer -term discussion about the evolution of the rental sector. It documents the factors which influence tenants and buyers and the characteristics and concerns of landlords.
It offers a clear economic assessment of the continuing rationale for ownership unless there is both continuing reforms of the existing rental sector to enhance security of tenure and affordability; and efforts to drastically grow the alternative non-market rental sector. This includes cost-rental while there is also potential for other forms of tenures including owner-occupied housing on leased public land and community land trusts which all help re-frame the discussion away from a binary discussion of private rental versus ownership.
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