Rents in Ireland double in ten years
The cost of renting in Ireland has doubled in the past 10 years, with rents rising fastest in Connacht and Ulster.
The latest study by Daft.ie shows rents in Munster rose 8.8% year-on-year, reflecting a sharp fall in availability.
Just 238 homes were available to rent on May 1 in the province, down by 30% compared to a year ago.
In Cork City, rents have risen by 6.3% in the last year and the average rent is now €1483 while in the county rents have jumped up 8.7% and now stand at an average of €1,137.
Generally across the four main cties of Cork, Limerick, Waterford and Galway rents rose by around 6 percent and the supply of rental properties remains a major issue.
Author of the report, Ronan Lyons says the pre-pandemic trend of rents rising faster in Dublin has reversed for rural areas.
"The trend we saw in 2020 was a bit of a split between Dublin and the rest of the market when it came to rents.
"In Dublin rents were down in part because some short term lettings stopped and moved over to the long term market.
"That didn't happen in the rest of the country, in fact scarcity worsened the availability slitty of rental property - it got even worse in the rest of the country."
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