Rental Costs in Ireland
About 750,000 Irish people live in rented houses and apartments. That number is increasing every day. Almost 10,000 tenants join the rental sector every month.
Rents increased in Ireland during 2015 and 2016 – across all 35 counties. For some counties, particularly in the west , there was an increase in rents of between 5% and 10% in the last two years. This reflects an improving economy – and a shortage of good accommodation to rent or buy.
In Dublin – areas traditionally rented by UCD students – Ranelagh, Rathgar, Rathmines, Clonskeagh, Booterstown & Stillorgan- have seen the sharpest rises in the Irish rental market over the last 5 years. Demand is so high for a place in these areas that prices have increased nearly 25% over the last few years.
Rents in Dublin rose by an average of 4% in the final three months of 2016, the largest three-month increase on record.
Dublin rents are now 14% higher than their previous peak in early 2008,
The cheapest places to rent are the counties of Ulster – Donegal , Monaghan, Cavan. The most expensive areas to rent as expected are in Dublin – with Dublin 4 and Dublin 2 being the most expensive. Outside the Dublin area – Cork City is the most expensive place for renting followed by Galway City
Compared to their lowest point in early 2012, rents in Galway city have risen by 48% and are now 15% above their previous peak.
Listed below are average monthly costs of renting a 3 bedroomed house in various parts of the country at the end of 2016
Dublin 4 €2269
Dublin 2 €2228
South Co Dublin €1995
North Co Dublin €1438
West Dublin €1,463
Cork City €1137
Galway City €988
Limerick City €882
Waterford City €757