Ireland’s largest corporate landlord, Irish Residential Properties (IRES) REIT Plc, forecasts a 25% increase in rental income following new rental laws coming into effect, which allow landlords to reset rents to market levels between tenancies. CEO Eddie Byrne highlighted a positive outlook, projecting average rents rising from €1,852 to €2,315 for many properties, and predicting a boost in investment and liquidity in the housing market. The new Residential Tenancies Bill introduces minimum tenancy durations, a rental price register, and restrictions on no-fault evictions, while capping rent increases at 2% or inflation for existing properties, though new apartments are exempt from this cap.
The legislation has sparked political debate, with Sinn Féin leader Mary Lou McDonald criticizing the changes as a “bonanza” for property funds and a significant rent hike burdening tenants, while Taoiseach Micheál Martin defended the reforms as providing greater tenant protections and encouraging much-needed housing supply growth. IRES also anticipates construction investment to more than double in 2026, driven by the regulatory changes aimed at attracting more investment into the rental market.
