Private Rented Accommodation reaches record numbers.

According to Independent.ie almost one in seven of the population is now living in the private rented sector. The record is set with almost 700,000 living in leased houses, flats or apartments.

The amount of tenancies registered with PRTB since December 2013 has risen by 52%.  The National Economic and Social Council said that one in three renting was unlikely to be able to purchase a home in the near future due to raising house prices and deposit required to secure mortgage.

To find out more about challanges in rental property market and PRTB visit Independent.ie

A new Goverment policy report proposes radical measures to put an end to accommodation crisis in Ireland. It recognises the need of providing tenants with more secure occupancy and creating supply support to increase the availability of affordable rental housing.

Among some of the propositions are:

• Significant tax reliefs for landlords,
• Longer leases for tenants,
• Removing sale of the property as a reason for vacant possession,
• Low-cost loans,
• Access to state land on favourable terms,
• Tax incentives and loan guarantees,
• Moderate level of subsidy in exchange for affordable rents

You can find more details in National Economic & Social Council Report available online.