Sir, – It is clear that we have passed peak supply in the Irish private rental market. Both the number of private tenancies and the number of private landlords has declined by circa 2 per cent per annum in 2018, 2019, 2020 and the trend has accelerated in 2021.
Price control, high taxation and heavy regulation, combined with the ongoing demonisation of landlords, will likely continue in 2022 and beyond due to the divisive political climate. Left-wing parties have made serious popularity gains by demanding policies that have undoubtedly reduced private investor confidence in the rental market. Additionally, despite the furore, negativity and outrage towards multinational investment funds – or as the left describes them, cuckoo/ vulture funds – Ireland needs these investors.
The rental market also needs private landlords but I fear it is probable that the supply line from this cohort of investors is beyond recovery – the dramatic decline of the small private investor in the rental market is regrettable.
Waves of investor flight have resulted in the total rental stock of properties declining and the supply problem will be compounded in the absence of a reversal of the punitive investor policies pursued over the past four years. – Yours, etc,
MARK MOHAN,
Castleknock,
Dublin 15.