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Residential property rents up almost 10% in Dublin in past year
By Finfacts Team
Dec 11, 2014 - 1:32 AM
Residential property rents are up almost 10% in Dublin in past year but the trend is lower in the rest of the country
The Private Residential Tenancy Board data show that nationally, private rents are up 5.6% - the number drops to 3.8% when Dublin is excluded.
In the third quarter ending September 30, the cost of renting a house in Dublin rose 3.1% while the cost of apartment rent rose 2% giving an overall rise of 2.3%.
Ex- Dublin, rents for houses rose 3% and apartment rents gained 1.8%.
Nationally the average cost of renting is now €835 – up from €790 a year ago. Rents for houses are 4.3% higher, up from €786 to €819, while apartment rents are up 7.3% and the average is now at €864 compared with €805 a year ago.
PRTB's Quarterly Rent Index is compiled by the Economic and Social Research Institute (ESRI).
Anne Marie Caulfield, director of the Private Residential Tenancies Board, said rent levels now are much lower than during the economic boom.
"In the past year, there's been a rent increase in Dublin of 9.5% … at the moment, in relation to prices they would have commanded at the boom time in Dublin, we're still quite a bit behind," she said.
Rent Index (a link to the Dec 2014 report is broken)
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