Average residential real estate rents rise with the number of homes available for rent dropping to an all- time low

The latest reports from the popular rental site Daft.ie revealed that residential property rents have doubled across the country in the past decade due to an acute shortage of properties which has led to high costs , with only 1, 460 properties made available for rent across the country including 820 in Dublin in the beginning of this month is the lowest level of rent since 2006.

According to Daft. ie’s lastet report, average residential rents rose by 6.8% with properties in Connacht Ulster recording the largest increase , jumbing 8.18% compared to the same period in 2020, leading to the highest inflation since 2006 , and Munster where the proportion of rents increase 15.6% and cork rents increased by 6.9% and house rent now averages 1,544 euros per month and Kerry saw an increase of 17, 8 while Waterford increased by 15.9% The report added that the number of homes for rent across the country is lower 70-80 more than it was before.

The average monthly rent nationwide between July and Septemper was 1,516 euros , an increase of nearly 100 euros per month since last year.

Ronan Lyons , an economist at Trinity College Dublin and author of the report , explained ,” The pandemic has caused rental problems in Ireland with construction halting for quit some times , In addition to this Mr Ronan explained , approximately 45,000 new homes for rent are planned in Dublin and this is very welcome.

You can view the report on Daft.ie for rent here.

 here.

Source : Echo Live. ie

Categories: News- Ireland

Tags: Rising rents ## Report Clarification ## Rent location Dafit.ie##

Fatma Salem