Rents double what they were a decade ago, with 4.4% increase last year, report finds

In the last year alone, the average market rent for a two-bedroom home in Cork City has risen above €2,000. The average rent for a similar property in Galway now stands at €2,113, while rents are up 5% in Limerick to €2,127.

Market rents rose 4.4% nationally last year and are nearly double what they were a decade ago, as supply on the market hit a new low, a new report has found.

The latest rental report by property website Daft.ie said the average market rent for a two-bedroom apartment countrywide is €2,086, with prices rising the fastest in the four major cities aside from Dublin. Galway rents are up 11.4% and Cork rents up 7.5%.