Average rental prices in Galway city increase by 3.8 percent year on year

Galway Bay fm newsroom:#

Average rental prices in Galway have increased by 3.8 percent year on year.

Figures published by the Residential Tenancy Board and the ERSI show average rents in the city stood at 1,702 euro in Q1 of this year, compared to 1,165 euro during the same period in 2019.

Meanwhile, the report has also revealed that, due to the the Covid-19 crisis, quarterly average rent prices have increased by just 1.6 percent.

The RTB Rent Index series analysis shows rental price inflation has stabilised considerably since the pandemic began.

The rental market was immediately impacted by lockdown, with prices falling by 3.3% nationally in June compared to the same period the previous year.