The cost of renting in Dublin is now 39% higher than it was back in 2008, and has also become more expensive than paying a mortgage.
The average Dublin rent is now €2,002, while the national average is €1,366.
A new report from Daft.ie shows that renting in any part of the country now costs more than paying a mortgage.
A mortgage on a three-bed home in Dublin 16 could cost €1,598, while renting a similar property could set you back €1,919.
But outside of Dublin it’s a similar story – for example, in Sligo a comparable mortgage could be €384, with the rent coming in at €732.
Image via Daft.ie
The Daft.ie report says this massive rent increase is partly down to the number of available properties being at a record low.
On May 1, there were just 2,700 properties available to rent nationwide on the property rental site, the lowest level ever recorded since the series began in 2006.