Dublin Rents Have Risen 96% Since 2011
Rents in Dublin have risen 96% since the depth of the recession in 2011.
The latest Daft.ie Rental Report has found that rents in the city have risen by nearly 11% in the past year alone.
Nationally, it now costs an average of 30% more to rent in Ireland than it did at the peak of the Celtic Tiger.
Rents around the country have hit a new all-time high for the tenth quarter in a row according to the report.
The average national rent is now over €1,300 – an increase of 11.3% this year alone.
The €1,334 average is now €304 per month higher than the 2008 peak and over €590 higher than the low in late 2011.
The author of the report, economist Ronan Lyons, said there was a big difference between in rate of inflation around the country.
“The strongest growth in rents we have seen is in Limerick and Waterford Cities – where inflation is close to 20% year-on-year,” he said.
“Now they are two of the cheapest cities in Ireland – of the five cities."
“So, what we are probably seeing is an element here of catch-up," he said. "Those cities saw their rents bottom out last and they are lowest so some increase there may have been expected.
“But still 20% year-on-year is a dramatic increase, especially if that continues.
“Other cities, including Dublin, Cork and Galway are also seeing strong rental growth – and they are places that have seen rents increase for longer.”