The party has pledged to build 80,000 social and affordable homes to buy and rent on public land over a five-year period, through the creation of a €16 billion fund.
Speaking at the launch of the proposals, Jan O'Sullivan TD described the fund as the "next generation of high quality, energy efficient public housing".
Deputy O'Sullivan TD commented: "Too many people are struggling to pay high rents, or simply can't find an affordable place to live. Adults are having to live with their parents, people are spending too much time commuting and even those in good jobs are struggling to save a deposit to buy their own home.
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"Rent Pressure Zones are not working and have only led to year-on-year increases of 4%.
"Labour will immediately freeze rents to give people certainty and allow time for enough homes to be built. We've done it before, and despite what other parties might say, it can be done again.
"We'll also introduce rent caps for a limited period until the housing crisis is solved.
"We want to make renting count, and will move to ensure that rental payments and deposit savings are counted as part of credit ratings to help first-time buyers."
The party also plans to re-introduce a Rent to Buy scheme through its affordable housing plan, as well as bring in long-term leases with rent certainty and stop unfair evictions. They will look to launch a Deposit Protection Scheme and NCT-style inspection of rental properties.
"The Labour Party has a record of building homes and freezing rents, and we'll do it again to ensure Ireland is no longer the outlier in Europe when it comes to housing," Deputy O'Sullivan concluded.
(CM/JG)
