Mortgage Measures and Rental Yields in Ireland

Fang Yao, Michele Pelli and Sameer Shaikh
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Fang Yao: Central Bank of Ireland
Michele Pelli: Central Bank of Ireland
Sameer Shaikh: Central Bank of Ireland

No 5/SI/25, Central Bank Staff Insights from Central Bank of Ireland

Abstract: The rental yield is an important metric for gauging sustainability of the housing market. This Insight studied the impact of the mortgage measures on rental yields across Irish counties in the two years following introduction in 2015. We find that there are clear and strong effects on house prices, which drive up the rental yield across counties, but find only a small and imprecise direct impact on rents. Multiple factors are likely at play in explaining the muted response of rents, including changed house purchase behaviour and increased supply by institutional investors over the estimation period.

Date: 2025-09
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Persistent link: https://EconPapers.repec.org/RePEc:cbi:stafin:5/si/25

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