The contrast in tax breaks between renters and their landlords has never been more stark. Just three years ago, a couple could claim €1,600 on rent relief, enough to pay a full month’s rent that year in the most expensive area, south County Dublin.

In 2019, rent relief is zero and the couple now pay an average €2,200 for the same home. In the meantime, investment funds are buying up tens of thousands of apartments to rent. Last year, these firms paid just €12.8 million tax on hundreds of millions in profits. To put this into context, one firm, Ires Reit, made €119 million profit on 2,679 apartments in 12 months.