Ireland sees largest ever rent increases
Ireland’s largest property portal, Daft.ie, has reported that average rents across the country have soared by around 12% over the past year. The author of the report, Ronan Lyons, an economist from Trinity College Dublin described the relentless rise in rental costs as grim. He described the increases as having a “disastrous effect” on communities as well as the country’s economic outlook.
Average rents now stand at 764 euro, up more than 11% from last year, whereas the average Dublin rent is now 1580 euro – up more than 12% since last year.
A huge demand for rental properties, along with too few available homes are being blamed for the sharp rises.
Full story available from Belfast Telegraph: http://www.belfasttelegraph.co.uk/news/republic-of-ireland/rents-reach-new-alltime-high-report-warns-35196843.html