In next month’s budget, the government plans to increase the amount of EUR 500 for tenants and introduce tax breaks for small owners.
Minister of State Kieran O’Donnell said the coalition was currently finalizing the details of the agreement.
The government believes this combined approach will reduce rental costs and keep more landlords in the market, as well as encourage newcomers to rent properties.
If this is successful, more homes will be available to renters.
Minister O’Donnell said the change could result in landlords paying more tax relief on their earnings.
Prime Minister Leo Varadkar indicated that tenants’ rights should also be strengthened.
Sinn Féin housing spokesman Eoin Broyn said rents were too high and rising.
He called for a budget moratorium on rent increases for three years, with each private tenant being given a credit worth one month’s rent, reports RTE.
He believes that tax breaks for owners will not help fight the growing housing crisis.
But University of Limerick economist Stephen Kinsella described any move towards tax relief for property owners as misguided, adding it would do nothing to solve the housing crisis, reports RTE.
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