Core Viewpoint - Elkstone warns that regulatory uncertainty is hindering investment in Ireland's housing sector, which is already facing a significant supply shortage [1] Group 1: Regulatory Environment - The current rent pressure zone (RPZ) system limits annual rent increases to 2% or the rate of inflation, whichever is lower, and is under review as it is set to expire this year [1] - There is a conflict where, despite a structural supply shortage similar to other European markets, the development pipeline in Ireland is stagnating at a time when new housing is critically needed [1] Group 2: Investment Challenges - Elkstone's Chief Investment Officer, Karl Rogers, states that the rent cap intended to protect vulnerable tenants has inadvertently restricted rent and investment growth [1] - Rising construction and financing costs are becoming fixed costs for projects, making many development initiatives unprofitable for developers [1] Group 3: Market Opportunities - The report highlights that the pause in approvals for new data centers by Ireland's energy regulator is redirecting potential investments to more competitive European markets [1] - This infrastructure bottleneck presents opportunities for private investors in renewable energy projects, which can alleviate capacity constraints and support Ireland's climate goals [1] Group 4: Company Background - Elkstone is known for its investments in startups such as Flipdish, LetsGetChecked, and Manna [1]