This is how much it costs to rent in Dublin

This is how much it costs to rent in Dublin

Dublin rents have reached an all-time high according to new figures, and are up by about 10% around the country, compared to the same period last year.

The latest information from the Residential Tenancies Board shows that rents in Dublin are now 3.9% higher than their previous peak in 2007.

RTB director Rosalind Carroll said the average rent across the country went from €869 per month in the second quarter of last year, to €956 in the same period now.

However, rent in Dublin increased the most, up by 4.5% since the last quarter. In Dublin monthly rents are now an average of €1,364, some 3.9% higher than the 2007 peak and 9% up from their agerage last year of €1,251.

While rents are also increasing outside of Dublin, they remain 11.2% off their peak levels.

Ms Carroll said an increase in population and inward migration, and under-supply in the market and some models such as short-term letting were all having an impact on prices.

Dublin house rents were up by 7.5% (€1,388 to €1,492) and Dublin apartment rents were higher by 9.8% (€1,246 to €1,368).

Annual growth in rents for the market outside Dublin recorded increases of 10.6% when compared to the second quarter of 2015; up from €669 to €740.

Monthly rent for houses outside Dublin increased by 9.9% (from €688 to €756), while apartments outside Dublin experienced an increase of 12.7% (€647 up to €729).

Dublin post codes account for close to one third of properties on the market, while other urban centres (Cork, Limerick, Waterford and Galway) account for 14% of rental properties.

About these figures:

The data comes from the RTB's Quarterly Rent Index which is compiled by the Economic and Social Research Institute (ESRI) on behalf of the RTB.

It is based on 22,103 new tenancies which commenced in April, May and June this year, and which were registered with the RTB. It reflects the actual rents being paid, according to the RTB's records, as distinct from the asking or advertised rent.


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