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New Report Shows Average Rent Now €1,733 A Month

Average rents increased by 13.7% last year. The latest Daft.ie report found the average rent across...
Caoimhseach Connolly
Caoimhseach Connolly

8:11 AM - 13 Feb 2023



New Report Shows Average Rent...

News

New Report Shows Average Rent Now €1,733 A Month

Caoimhseach Connolly
Caoimhseach Connolly

8:11 AM - 13 Feb 2023



Average rents increased by 13.7% last year.

The latest Daft.ie report found the average rent across the country between October and December last year was €1,733 a month, up 2.7% on the previous three months.

The property listings website recorded substantial rises in advertised rent prices in all parts of the country:

Dublin €2,324 up 13.1%
Cork City €1,768 up 14.9%
Galway City €1,796 up 19.4%
Limerick city €1,673 up 18.9%
Waterford city: €1,432 up 20.2%
Rest of the country: €1,318 up 13.8%

Source: Daft.ie

Source: Daft.ie

The figures relate to open market rents, but a smaller survey of sitting tenants shows their rents increase by an average of 3.8% in the last 12 months.

Since the introduction of rent pressure zones in 2016, rents of sitting tenants rose by 19%, while in the open market, it was almost 75% in the same time frame.

The report also points to a continued shortage of rental properties, with just 1,096 homes available to rent on February 1st, down over 20% on the same date last year.



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