Rent caps in Dublin appear to have little effect on rent prices. They are 66% higher than they were in 2011.
The latest report from Daft.ie shows renting a home in the city costs an average of €1627 a month.
Across the country rents are up €134 a month compared to a year ago.
Economist with Trinity and Daft.ie, Ronan Lyons, says the rate of increase is faster than ever.
Apart from South Dublin, it's now cheaper almost everywhere to have a mortgage on a house than to rent one.
In West Dublin, it costs around €1000 a month to service a mortgage on a 3-bed, compared to leasing the home at around €1500.
rent snapshot via Daft.ie
According to the report the 4% cap on rents have served to create a two tier market, between those who are happy to stay in their property as opposed to those who have to move.