Greystones now a ‘rent pressure zone’

GREYSTONES has been designated a ‘rent pressure zone’ as of midnight last night.

Confirming the news, Minister Simon Harris said that there had been some disappointment locally when Greystones was not included n the original announcement as the area was just short of the criteria. Cllr Jennifer Whitmore has been calling for a review ever since then.

‘I was glad when the Department of Housing, Planning and Local Government agreed to review the decision. Rental costs are a significant issue in the Greystones area as demand continues to far outreach supply,’ said Minister Harris.

‘ The declaration of Rent Pressure Zone status for the Greystones Electoral Area will come as very good news for renters,’ he said.

‘ This is an issue that is often raised with my at my clinics as people are coming under increasing financial strain as a result of rising rents.’

Landlords in the Greystones electoral area will now be limited to a maximum increase of four per cent.

Rent Pressure Zones are areas where rents are above average national rent level and have experienced rental inflation of in excess of 7 per cent in 4 of the last 6 quarters. Annual rent increases in Rent Pressure Zones will be limited to 4 per cent.

This limitation remains in place for a maximum period of three years (which cannot be extended) and will apply both when rents are set at the start of a tenancy and when rents are reviewed during an ongoing tenancy.