Renters in new tenancies registered with the Residential Tenancies Board paid over 17% more in rent than those in existing tenancies, a report by the ESRI has found. 

Researchers found new tenants in the third quarter of last year paid an average of nearly €1,600 on rent per month.

By contrast, those with an existing tenancy paid €1,357 - a difference of 17.7%.

Overall, average rents for new tenancies grew by 11% year-on-year, while it was 5.2% for existing tenancies.

A housing estate under construction. Image: David Creedon / Alamy Stock Photo

Wexford and Donegal saw the biggest increases in rent for new tenancies - at around 23% per year, when compared to the third quarter of 2022.

In Dublin, there was an 18.2% difference in new versus existing tenancies, while it was 18.5% in Cork.

If a property is in a rent pressure zone, a landlord may only raise a tenant’s rent in line with inflation or by 2% a year - whichever is lower. 

Non-functioning

Speaking last month to Newstalk, Minister for Housing Darragh O’Brien acknowledged the market is still difficult for renters. 

“The rental market does not function as it should,” he said.

“This has been the case for a long number of years so what we are endeavouring to do is put other forms of renting in - like cost rentals.

“With this, you are looking at long-term, secure rents that are a minimum of 25% below market and your tenure is secure.

“It gives people that security of tenure and it gives them affordability in it.”

Last year in Ireland, there were 32,695 homes built in Ireland.

Main image: A person at an apartment door with keys in their hand. Picture by: Anna Berkut / Alamy Stock Photo