Lack of rental supply continuing to drive up rents, despite rising unemployment
Rents rose by over 5% in Ireland on average last year, according to new data from Daft.ie, with supply on the market this month down 17%.
Rents in the city have increased by 4.8% in the last year and the average rent is now €1,452.
Renters in the county are paying an average of €1,106 - an increase of almost 9%.
Prices in Dublin fell however by more than 3%.
Ronan Lyons says it's taken the economic shock of a pandemic to make Dublin's rental market begin to look normal.
"You could argue that things were turning anyway, that rent inflation slowed down quite a bit, rents were so high that we'd reached the limits of affordability. What's interesting is when you look at the number of properties coming off the market in Dublin. It's not that the capital is suffering from a glut. It's actually there's as much demand out there as there is extra supply. Every new home that goes up in the capital is coming off."
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