RENTS in Limerick city have fallen by 0.2% in the last year while rents across Munster remained static on average
The latest report from the property website Daft.ie reveals that outside of the city rents are largely stable, falling by just 0.7% in the 12 months to June 2013.
The average advertised rent in the county is now down 24% from the 2007 peak, and 0.7% in the last year. The average rent in Limerick city is now €642 - down 25.6% since the peak - while rents in Cork and Galway are much higher by comparison, at €806 and €792 respectively.
A single room in Limerick city now costs around €255, and €234 in the suburbs, according to their guide. The figures may come as good news to students who received CAO offers this week, and could be seeking accommodation in Limerick in September.
Ronan Lyons, economist with Daft.ie, said low costs for renting could be good news for centres in need of investment over the years to come.
“Low costs of accommodating workers is good news from a competitiveness point of view and as the cost of housing and office space in Dublin rises, cities like Limerick and Waterford will become more competitive, particularly for projects that don’t require a central location, such as corporate services or back office functions,” stated Mr Lyons.