Galway City has seen a 12.7% increase in average rents for new tenancies, the largest annual change of any city in the country.
The RTB’s Rent Index Report shows that Galway was the second most expensive city in the Republic in Q2 for new tenancies, with a standardised average rent of €1,577.
Galway County saw an even higher year-on-year growth rate (16.4%) in Q2 than Galway
City for rents in new tenancies. The average for new tenancies in Q2 was €1,174.
Galway was one of 19 counties to have average rents above €1,000 in the second quarter of this year.
Mayo had the second-highest year-on-year growth, where rents in new tenancies increased by 18.5% year-on-year. Twenty counties had annualised growth in standardised average rent for new tenancies above 10% in Q2 2023.
