Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

It means that rents will rise at a similar rate to the cost of living and, most likely, at a lower rate than the rise in incomes and wages. As things stand, and we always keep things under review, we believe an absolute rent freeze, or a 0% increase for three years, would be counterproductive. It would mean a rent reduction in real terms and would drive more property owners out of the rental market. People who currently own a rental property getting a reduced return in real terms each year-----

See this speech in context