Overall, rents jumped by 13.7 per cent in Ireland last year
The average rent in Dublin has now reached €2,300 amid a 'chronic' shortage of homes to rent in all parts of the country, a new report has revealed.This is now down over 20 per cent on the same date a year ago and a quarter of the average available during 2015 to 2019.
The increase in market rents around the country is driving extraordinary shortages in the availability of rental accommodation. In the year to December, the rate of inflation in Dublin was 13.1 per cent while in Cork city, it was 14.9 per cent. In Dublin, the average monthly rent is €2,300 while in Cork it is €1,768.
The report also shows that, on average, rents paid by sitting tenants have increased by 3.8 per cent over the last 12 months and since the introduction of Rent Pressure Zones in 2016, rents of sitting tenants have increased by 19 per cent on average, compared to an average increase in open-market rents of nearly 75 per cent over the same period.
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