New financial incentives to keep private landlords in the market and to help tenants with soaring rents are being considered by the Government.
It comes as new figures show one in two renters spend at least 50% of their net income on rent.
It’s believed a tax relief for renters is on the cards in the upcoming budget as the Government looks at immediate measures to help with the cost of living crisis.
But Financial Analyst Karl Deeter says a measure like this can only work if it's targeted at lower income earners:
"Two young guys, or girls or whoever working Facebook making €100,000 a year renting a two-bed apartment get the same amount of financial compassion as a single family on an average wage.
"In that sense, you got to say are we doing the best we can with the money we have?"
Meanwhile, incentives for keeping smaller landlords in the market are also being considered.
Focus Ireland’s Roughan McNamara says this group needs support to keep supply up:
"There's a record high of over 10,500 people homeless in Ireland right now and far too many of them are coming from the private market."
Despite speculation Expenditure Minister Michael McGrath kept tight-lipped on these proposals:
"As with all other taxation issues any decisions will be made, and that's a particular issue for Minister Paschal Donohoe on the taxation side."
Further details are likely to be announced on Budget Day later this month.