The average monthly rent for new tenants nationwide rose to €1,544 in the first three months of the year, reports Breaking News.
According to the Residential Tenancy Board (RTB) data, average costs increased by 2.5% in the last quarter of 2022.
The rent index, which specifically takes into account new tenants, includes data on 14,085 new rentals registered with the RTB in January, February and March this year, compared to 15,336 for the same period in 2022.
The standard average rent for new occupiers in Dublin was €2,102 in the first quarter, compared to €1,530 in the Greater Dublin area (excluding Dublin) and €1,490 in Cork City.
Outside the Greater Dublin area, the average monthly rent for new tenants was €1,133.
By county, the highest standardized monthly average was in Dublin (€2,102) and the lowest in Leitrim (€809), reports Breaking News.
In 16 of the 26 counties, the average monthly amount exceeded €1,000, with only Cavan, Donegal, Leitrim, Longford, Mayo, Monaghan, Offaly, Roscommon, Sligo and Tipperary below this threshold.
Commenting on the data, Ann-Marie O’Reilly, national advisory manager at Threshold, said rents had risen “an unusually high increase” in some parts of the country after the Covid-19 outbreak, even in areas facing rent pressure.
Speaking to RTÉ News at One radio, Ms O’Reilly said some landlords are taking the opportunity to raise rents, even though this may not be legally allowed, reports Breaking News.
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