Rents across Ireland increased by 5.7% last year, bringing the average monthly rent to €1,956, according to the latest Daft.ie report.
This marks a 43% jump compared to pre-pandemic levels, as a shortage of rental properties continues to drive prices up.
Dublin remains the most expensive rental market, with average rents reaching €2,481—up 4% from the previous year. However, rent increases were even steeper outside the capital. In Cork city, rents rose by 10% to €2,097, while Galway saw a 9.9% rise to €2,197. Limerick experienced the highest increase, with rents soaring 19% to €2,271.
The report also notes that the gap between rental inflation in Dublin and the rest of the country is narrowing. While Dublin rents rose by 4%, rents outside the capital climbed by 7% on average—the smallest difference in almost two years.
Daft.ie report author Ronan Lyons, an economics professor at Trinity College Dublin, said the rental market remains under severe pressure due to a lack of available housing. He warned that this is pushing open-market rents higher while creating a divide between tenants benefiting from rent controls and those who do not.
