Rent Prices Rise 4.4% in Q1 2026 as New Reforms Take Effect March 1

Rent prices nationwide increased by 4.4% from December to March 2026, the largest quarterly rise since 2002, according to Daft.ie. This surge coincided with new government rent reforms effective March 1, which Professor Ronan Lyons suggests may have prompted landlords to delay listings until the new rules were in force.

Market rents are now over one-third above pre-Covid levels and nearly 80% higher than a decade ago. The average market rent for a two-bedroom apartment is €2,100 as of early 2026. Year-on-year, rents rose 18% in Galway city, 13% in Cork, 10% in Limerick, 8% in Waterford, and 6.9% in Dublin by March.

The reforms mandate a minimum six-year tenancy for new agreements from March 1. At the end of this term, landlords can raise rents beyond the 2% cap to market rates. Large landlords (four+ tenancies) are banned from no-fault evictions for new tenancies, while small landlords can only use them in limited circumstances, without resetting rent until the six-year period ends.

Rental availability increased to just under 2,500 homes nationwide on May 1, up from 2,300 a year ago and 1,800 three months ago, but remains below the pre-pandemic norm of 4,000 homes. Listings rose by 13% year-on-year in February, March, and April, with over 10,600 homes listed.