Sir, – The article "Rents dwarf Celtic Tiger era with 'disastrous effect' on society" (November 8th), following the publication of the Daft.ie report, was bound to flush out the ideological diehards. In his letter, Eugene Tannam (November 10th) suggests that legislation should be put in place making it "illegal to own more than two properties".
Well, “come the revolution”, I’m sure that might be considered, but in the meantime, it might be more prudent to encourage investors into the sector rather than chasing them out with high taxation and suggestions of incoherent and unenforceable legislation.
The departure of investors due to poor returns has reduced the property offering for the beleaguered rental community, resulting in high rents and an inability to save. This situation, in tandem with the strangulation of the market by overzealous Central Bank regulations, creates a depressing scenario for renters in the short to medium term. – Yours, etc,
GEOFF SCARGILL,
Bray,
Co Wicklow.