The RTB Rent Index, Q1 2024
September 12, 2024
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- Nationally, rent has increased for new and existing tenancies. In Q1 2024, the average rent grew by 8.1% for new tenancies and 5.9% for existing tenancies annually.
- New tenancy rents are rising more slowly in Dublin. Rents for new tenancies in Dublin rose 6.3% year-on-year, compared with 12.2% outside of Dublin.
- Sitting tenants continue to pay lower rents than new tenants. The standardised average rent paid by new tenants nationally is now €1,612 per month, while for existing tenants it is €1,391 – a difference of €221 or 15.9%.
- The Q1 2024 Rent Index is shared with preliminary findings from an additional ‘Individual Property Level Analysis’ commissioned to help the RTB understand the extent of rent increases in excess of RPZ limits, where they apply. It shows 74% of existing tenants nationally experienced annual rent increases of 2% or less between Q2 2022 and Q1 2024.