Limerick rental crisis continues as national prices drop

Rebecca Laffan

Reporter:

Rebecca Laffan

Limerick rental crisis continues as national prices drop

RENT prices across Limerick continue to soar, despite a recent report showing nationwide prices began to drop slightly towards the end of 2019. 

According to the latest quarterly Rental Report by Daft.ie, Limerick city rents have risen by 3.9 percent in the last year and the average rent is now €1,217 while overall national rents fell marginally by 0.1 percent. 

In the rest of Limerick, rents were on average 8.3 percent higher in the final quarter of 2019 than a year previously. The average listed rent is now €896, up 59 percent from its lowest point.

The average price of a one-bed apartment in the city now averages at €904 per month, while in the county it costs €618 – a yearly increase of 6.7 percent and 10.7 percent respectively. 

A two-bed home now costs €1,010 in the city and €697 in the county, while the average three-bed home house is costing city renters €1,167 and county renters €805. 

The report also showed that the average price of a single bedroom in the city is now €445 per month, an increase of 20.6 percent from the previous year – the highest increase in Munster for that room type.