New tenants are paying 16% more in rent than existing tenants.
The latest figures from the Residential Tenancies Board (RTB), show average rent for a new tenancy at the end of last year was €1,595 a month - €221 more than existing tenants who paid an average of €1,374 a month.
Rent for new tenants also rose at a faster rate compared to existing tenancies.
Average rent for a new tenant increased by almost 10% at the end of 2023, while existing tenancies increased by 6% compared to 2022 levels.
Today the Residential Tenancies Board publishes the Q4 2023 Rent Index, which provides an overview of rent levels in new and existing tenancies in the rental sector.
Read the #RTBRentIndex report here: https://t.co/GWRVfVS5ik
? A thread on findings from the #RTBRentIndex 1/11 pic.twitter.com/JJP1AXLiey— Residential Tenancies Board (@RTBinfo) May 2, 2024
In Dublin, average rent for the last three months of 2023 was €2,098 a month, almost €300 more than for existing tenants.
The cost of rent outside Dublin last year rose twice as fast as in the capital.
In Dublin, average rent for a new tenancy was almost €2,098 a month an increase of 6%, compared to 12% rise outside Dublin to €1,280 a month.
Just under 56,500 new tenancies were registered with the RTB last year, a fall of 21% on 2022.
