The lack of rental property in the City needs to be resolved in the next budget.
Cork Chamber made the comment following the release of the latest rental report from Daft, which shows the average rent in the city is now €1,524.
Chronic supply shortages are being blamed with the spike in rents across the country- with the cost of renting outside Dublin now 11% more expensive than last year.
The latest report from Cork Chamber found accommodation and infrastructure ranked joint top priority for businesses in the city.
Speaking to RedFM News, Thomas Mc Hugh from Cork Chamber outlines one reason for the shortage of accommodation.
"No significant department development has taken place effectively since the last economic cycle within the city centre, and that is a significant issue.
"It need to be resolved, it can be resolved in the forthcoming Housing For All strategy and the forthcoming budget in 2022.
"From a government perspective I think significant action is needed, especially when you look at the long term growth projections for 2040 for Cork."
