Rental Crisis: Housing Stock Drops Below 2,000 in Ireland
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Ireland’s Rental Crisis Deepens: Supply Falls to Three-Year Low
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The Current State of ireland’s Rental Market
the rental supply crisis in Ireland is set to worsen as the nation’s housing stock dips below 2,000, its lowest level in more than three years.
According to the latest rental report from property website Daft, there were just 1,901 homes available for rent across the entire country at the start of November. The number of rooms rented is down 7% year-on-year.
Following a temporary rebound in housing stock after the pandemic, a return to tightening supply over the past year has reduced housing availability to just 44% of the levels seen between 2015 and 2019.
Rent Inflation and Regional variations
The scarcity of available housing is directly contributing to further rent inflation. The average monthly rent for a two-bedroom apartment has reached €2,080 in the past three months. in Dublin, rents have risen 6.5% to €2,583.
The national inflation rate for the first nine months of the year was 4.3%, consistent with trends observed over the past two years, according to the report’s author, Ronan Lyons, a professor of economics at