Rents rise 4.4% in 2025 as rental supply falls to lowest February level in nearly 20 years
Fewer than 1,800 homes available nationwide as pressure intensifies across all regions
25 February 2026 | 📧 editor@ipropertyradio.com
Market rents increased by an average of 4.4% during 2025, according to the latest Daft.ie Rental Report, with availability tightening further across the country.
The report shows that the annual increase in open-market rents was higher than in 2024 (3.6%), although below the peak growth rates seen in 2023. In the final quarter of 2025, the average monthly rent for a two-bedroom apartment nationwide stood at €2,086.
Rents are now 34% above pre-Covid levels and 68% higher than their Celtic Tiger peak, reflecting sustained upward pressure over the past decade.
At the same time, supply has fallen to its lowest February level in almost twenty years. On 1 February 2026, there were just 1,777 homes available to rent nationwide, down 22% on the same date a year earlier. Overall availability is now just two-fifths of the 2015–2019 average.
In Dublin, rents rose by 3% during 2025, up from 2.2% in 2024. The average monthly rent for a two-bedroom apartment in the capital reached €2,438 in the third quarter. Rental availability in Dublin fell to 859 homes on 1 February, down 29% year-on-year and the lowest February figure recorded in data going back to 2006t.
Outside the capital, rent increases were stronger. Across Cork, Galway, Limerick and Waterford cities, market rents rose by an average of 9.2% during 2025. Fewer than 150 homes were available to rent across the four cities at the start of February, with just 144 homes on the market, down 18% year-on-year.
In Leinster outside Dublin, rents increased by 6.3% during 2025, with average two-bedroom apartment rents at €1,641. There were 425 homes available to rent in the region on 1 February, roughly half the pre-pandemic norm.
In Munster outside the cities, rents rose by 6.4%, while availability stood at 191 homes, down 20% year-on-year. In Connacht-Ulster (excluding Galway city), rents increased by 5.1% in 2025, with just 158 homes available to rent on 1 February, representing only a quarter of typical pre-pandemic levels.
The report also highlights a widening gap between new tenants and existing renters. Rents paid by sitting tenants were unchanged in the final quarter of 2025 and were 2.2% higher than a year earlier, significantly below open-market increases. Since 2016, rents for stayers have risen by 22%, compared to a 68% increase for those entering new tenancies.
Room rents also accelerated during 2025, rising by 5.4% nationally, more than double the increase seen in 2024. The average monthly rent for a double room in a house reached €775 in the final quarter of the year.
The findings point to a rental market characterised by limited supply and sustained upward price pressure across all regions, with availability at historic lows as 2026 begins.
