A proposed 12 per cent rent increase for student accommodation in University College Dublin (UCD) has been slammed by the Labour Party.

Education spokesperson Aodhán Ó Ríordáin said the housing crisis we are now facing is becoming a prevalent feature in Irish society and the student accommodation companies are exploiting this crisis to charge extortionate accommodation fees.

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He said: "We know through media reports today that UCD are raising prices of college-owned student accommodation by 12% over the next three years. It is completely unacceptable to expect students and their families to pay between double and triple the annual college fee upfront for student accommodation.

"Labour's proposal for State-led developments would mean providing affordable student accommodation and would take the seasonal pressure off the rental market. Students should not have to spend their entire summer struggling to find an affordable option for accommodation but should be taking time to get ready for the academic year ahead. They, like all renters, deserve certainty of tenancy and affordability."