A leading economist has described as ‘significant’ increase in asking prices for rents in Donegal.
Professor of Economics at Trinity College Dublin Ronan Lyons was reacting to the latest report from property website Daft.
It reveals that market rents in Donegal were on average 3.1% higher in the first quarter of 2025 than in the same period in 2024.
The average listed rent in the county is now €1,231, up 90% from the level prevailing when the COVID-19 pandemic occurred.
Average asking prices for rents nationally rose by 3.4% between January and March of this year, going above €2,000 for the first time.
While Donegal remains the cheapest county in which to rent, Prof Lyons described the latest increase as ‘significant.’
Speaking on RTÉ’s Morning Ireland, Prof Lyons added that some rents are now around 160% higher now than they were a little over 10 years ago.
Prof Lyons pointed out that open market rents in Limerick have increased by 20% year on year.
Although this is an extreme case, you can see significant increases in rents around the country, Mr Lyons said.
“It’s 10% in some cases, and like in Carlow and Kilkenny, it’s smaller in others, maybe four or 5% but still, those four or 5% increases in places like Cavan or Monaghan or Donegal come on top of very large increases over the last couple of years.”
Prof Lyons added that a shortage of rental properties is adding to the problem.
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