City Rent Prices Soar To Almos...


City Rent Prices Soar To Almost €2,000 A Month

Breda Forrest
Breda Forrest

04:16 13 Nov 2023

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City rent prices have soared to almost 2000 euro a month.

The new report shows renting a home in the city has risen by 10.3 percent over the past year to an average of 1,882 euro.

Rent hasn't gone up in Dublin because more homes have come on the market.

The average rent in the city is 1,882 euro per month, while, in the county, it's 1,458 euro.

That's a jump of 10.2 and 11.7 percent respectively on the same time last year.

The Rental Price Report for the third quarter of the year also shows there regularly were fewer than 100 homes to rent across Cork, Limerick, Waterford and Galway cities combined.

The average rent for a 1-bed apartment in Cork city was 1,266 euro, but the average mortgage on the the same property was 637 euro.

At the Sinn Féin Árd Fheis this weekend, opposition leader Mary Lou McDonald promised to introduce a three-year rent freeze if elected to government.

Author of the Daft report, Ronan Lyons says rents are shooting up in areas where the supply is still short:

"In all four cities, rents are rising at a double digit rate compared to a year ago, between the 10 and 16%, depending on the city. It's a very different trajectory to Dublin at the moment, and in some ways the other cities are closer to the rest of the country, where rents are rising more rapidly than they are to Dublin".

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