A report on Ireland's rental market reveals a historic supply crisis. According to the Daft.ie service, the number of properties available for rent nationwide has fallen below 1,800, the lowest level in two decades. Simultaneously, the average rent for a two-bedroom apartment has risen to €2,086 per month, with rates increasing by 4.4% during 2025. Rapid price growth has been noted particularly in large cities outside Dublin.
Historically Low Supply of Rental Properties
The number of properties available for rent across Ireland has fallen below 1,800, the lowest level in 20 years.
4.4% Increase in Rental Prices
Average market rents rose by 4.4% in 2025, and the average price for a two-bedroom apartment is now €2,086 per month.
Post-Pandemic Market Imbalance
Current rents are 34% higher than before the outbreak of the COVID-19 pandemic, showing the scale of imbalance in the housing market.
Ireland's rental market is in a deep crisis, characterized by historically low supply and persistent upward pressure on prices. According to the latest report from Daft.ie, on February 1, 2026, fewer than 1,800 properties were available for rent across the country. This number represents the lowest supply level in at least two decades and is a direct reflection of the chronic shortage of rental properties on the market. The housing market in Ireland has experienced dramatic fluctuations over the last few decades. The period of the so-called "Celtic Tiger" at the turn of the century was characterized by a construction boom and speculation, which ended in a deep financial crisis in 2008. Then, after years of slow recovery, the market began to overheat again, fueled in part by international investment funds and limited land supply.In 2025, average market rents rose by 4.4%, continuing an upward trend after a 3.6% increase recorded the previous year. Although this growth rate is lower than the peak 12.3% in 2023, prices remain extremely high. The average monthly rate for a two-bedroom apartment in the country is now €2,086. The fastest growth rate is observed in four main cities outside the capital. In Galway, rents increased by 11.4%, and in Cork by 7.5%. „The supply of homes to rent in February hits by far its lowest level in 20 years.” — Rental Report by Daft.ie This data indicates that current market rental rates are 34% higher than before the COVID-19 pandemic. In the longer term, the increase is even more drastic – prices are 68% higher than during the peak of the "Celtic Tiger" and 79% higher than ten years ago.Year-on-Year Growth of Market Rents in Ireland: 2023: 12.3, 2024: 3.6, 2025: 4.4 As a possible cause of the supply collapse, some analysts point to new government rental regulations set to come into force soon. The new rules will allow landlords to "reset" rents to market levels after a previous tenant vacates a property, which – according to some observers – may have discouraged owners from listing properties in the current, uncertain regulatory environment. The supply crisis is also exacerbated by the broader problem of housing shortages in Ireland, related to construction delays and high costs of materials and labor.Average Monthly Rent for a Two-Bedroom Apartment: Rent in Galway: unknown (previous year) → +11.4%; Rent in Cork: unknown (previous year) → +7.5%; National average rent: unknown (previous year) → 2086 €