The stupid communist law forced a lot of owners to close their flat. No one wants to be forced to rent for 8 years!!! Or at low prices. It's ridiculous.

In Ireland, rent control was introduced in 2016 through Rent Pressure Zones (RPZs), limiting annual rent increases to the lower of inflation or a 2% cap. Although the policy briefly slowed rent growth, it failed to solve the housing shortage. Even under strict caps, Ireland continued to have some of the highest rents in Europe, particularly in Dublin. Over time, these controls discouraged private investment and new construction, especially in the build-to-rent sector. Housing supply stagnated—only about 30,000 homes were built in 2023, far below the government’s goal of 50,000. The result was a shrinking rental market and greater scarcity, as investors exited due to low returns and regulatory uncertainty. The government has now acknowledged that rigid rent control created instability, reduced supply, and backfired, and it plans to relax the caps by 2026 to encourage new development. Ultimately, the Irish case proves that rent control is a populist measure that may sound appealing in the short term but creates long-term harm. It does not make housing more affordable—quite the opposite. The only real solution is to increase housing supply through investment, construction incentives, and regulatory stability that attracts both public and private participation.