The average cost of rent in Kerry has gone up by over 15% in the last 12 months.
That’s according to the latest report by property website Daft.ie, which surveyed prices in the rental market across the first quarter of the year.
The average rent in Kerry is now €1,125, with a shortage in supply leading to significant increases across the country.
According to the report, rents in Kerry have now risen by over 101% since their lowest point after the last financial crash.
A breakdown by property type shows that the average rent for a one-bed apartment in Kerry has risen by 14% in the last year to €755.
The average two-bed house now costs €869 to rent, up over 13% in the last year, while three-bed houses have risen by over 16% to €1,003.
Rents for four-bed houses across the county are now €1,144, an increase of over 14% in the last 12 months.
The most significant increase was in rents for five-bed houses in Kerry, which have shot up by almost 45% in the last year to €1,623.
The shortage of rental supply continues to be a major factor in price increases.
The report states that there are just 131 properties available to rent across the entire province of Munster.
This is its lowest number since Daft.ie began compiling figures in 2006, while it’s over 82% lower than the pre-covid average in 2019 of 750.
