Lack of housing and high input prices to drive up rents in 2023, experts warn

Commercial property specialists CBRE the number of units available to rent in Dublin last year fell to historic lows, and in response, rental levels for new multifamily stock continued to climb.

Residential commencements started to slow in the latter part of 2022 due to increases in construction and financing costs while exit pricing declined.

Rents are expected to rise this year due to the high level of demand and input cost inflation, such as soaring energy bills, for constructing units.

The viability of new apartment development is a key concern for the real estate market in Ireland this year, according to commercial property specialists CBRE.