Search Results for 'rental retail rates'

Ireland’s largest retail industry trade body has expressed its support of the Government’s plans to abolish upward only rent review clauses. Retail Excellence Ireland (REI) claims more than 40,000 jobs are at risk in the retail sector unless the system is removed. Currently, rent prices can only increase or remain the same under review, regardless of decreases in market rates. Since rental retail rates increased by 240% between 2000 and 2007, compared to a 30% increment in consumer prices, REI claims businesses are not paying a fair market rate. As it stands, Ireland is one of just a handful of countries who still employ the system, with the remaining jurisdictions employing a market-based approach.