Real estate expert says potential rent cap will distort the market

The chief executive officer of the Real Estate Institute of Victoria says the potential of a rental cap would distort the market.

Quentin Kilian told Tom Elliott it would be “ludicrously lunacy” if the government followed through with the idea of a rental cap.

“There is so much global evidence, historical evidence, that when you start to put rent cap, rent freezes, rent controls into a private rental market, it simply distorts the market and absolutely decimates it over a period of time,” Mr Kilian said.

Press PLAY to hear how the new land tax will impact renters

Image: Getty Images (Daniel Pockett).