Dublin in the grip of property bubble

Ireland’s capital is in the grip of a fresh property market bubble, with the cost of renting in Dublin now almost twice as high as anywhere else in the country.

New figures revealed in a major survey of 302,000 homes nationwide show the rental gap becoming increasingly apparent.

According to the latest Private Residential Tenancies Board rent index, drawn up on behalf of the Economic and Social Research Institute, the average cost of renting in Dublin now stands at €1,070 for an apartment and €1,168 for a house.