Real Estate

RESIDENTIAL LANDLORD & TENANT

Designation of New Rent Pressure Zones

The Local Electoral Area of Shannon and the Administrative Area of Westmeath County Council have been designated as Rent Pressure Zones under the Residential Tenancies Acts from 30 November 2023 to 31 December 2024 (see: S.I. No. 578 of 2023 and S.I. No. 579 of 2023).

This means that rent increases in these areas are capped in line with the rate of inflation as recorded by the Harmonised Index of the Consumer Prices or 2% per annum pro rata, whichever is lower (unless an exemption applies). A full list of RPZs is available on the RTB website.

DERELICT SITES ACT 1990

Designation of New Urban Areas

The Derelict Sites Act 1990 (Urban Areas) Regulations 2023 prescribe areas in the administrative counties of Cork, Galway, Kerry, Kilkenny, Limerick City and County, Louth, Mayo, Roscommon and Waterford as urban areas for the purposes of the Derelict Sites Act 1990.

This enables local authorities to determine the market value of such lands for the purpose of imposing the derelict sites levy (currently 7% of the market value of urban land concerned). The residential zoned land tax (RZLT) (charged at 3% of the market value of land within its scope) will replace the derelict site levy from 2025 (the first liability date for RZLT was deferred from 2024 until 1 February 2025 by Budget 2024/Finance (No.2) Act 2023).

CLIMATE CHANGE

Climate Action Plan 2024 – Key Actions for the Built Environment

The Government has published its Climate Action Plan 2024 (CAP24) which sets out the roadmap to deliver on Ireland’s legally binding climate change objectives. We look at key actions in the built environment sector (including the development by the Commercial Built Environment Working Group of a voluntary code of conduct for commercial leases) here.