A new report into the cost of renting in Ireland has revealed that Galway has seen some of the largest increases nationwide over the past five years.
Outside of Dublin, locations in Galway City and County occupy three of the five sharpest rises recorded across the country since 2010.
The report found that in the city, rental prices for a four-bed semi in the Newcastle area rose by 15 percent to 1,260 euro – while the rent for a two-bed apartment in Renmore rose 13 percent to 716 euro.
In the county, a two-bed apartment in Tuam commands a monthly rent of 633 euro – that’s an increase of 11 percent compared to the figure for 2010.
They’re the highest increases nationwide recorded outside the capital, on-par with Maynooth in Co. Kildare and Ratoath in Co. Meath.
The Irish Independent’s Rent Report found that the average three-bed home in Galway City now costs 823 euro per month – that’s up 5 percent compared to the figure for 2010.
It also found that the average rent for a two-bed apartment is up 4 percent to 802 euro, while the cost of renting a four-bed semi-detached home is also up 4 percent at 1029 euro.
Galway was also the only location nationwide in which the cost of a three-bedroom house in the county has increased over the past 5 years.
The largest increases were in the capital, where a one-bed apartment at Islandbridge in Dublin 8 will set rentees back by just under 1,100 euro per month – an increase of 30 percent.
Meanwhile, the sharpest fall in rental prices during the same period was in Waterford City, with a three-bed apartment dropping a staggering 65 percent to just 300 euro a month.
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