Daft.ie Reports 4.4% Rent Increase in Q1, Averaging €2,176 Monthly

Opposition parties claim new government rental rules, effective last March, are failing, citing a «record» rise in rents during Q1. Sinn Féin links this directly to a provision allowing landlords to reset rents to market rates between tenancies, a change from the previous system where new tenancy rents were pegged to prior rents.

Daft.ie's Q1 report shows asking rents increased by 4.4%, with the average monthly rent for a new tenancy reaching €2,176. However, Daft's survey only measures new tenancies advertised on its website, representing about 20% of the market. It does not include rent increases for existing tenants, which are captured by the Residential Tenancies Board (RTB) figures, typically released later and often presenting a more nuanced picture.

The new rules also include minimum six-year tenancies, a national cap on rent increases (lower of inflation or 2%), and expanded restrictions on «no-fault» evictions. The government hopes the Q1 increase is a one-off adjustment intended to boost market supply and moderate rents. The full impact of these reforms will take time to assess.