8 February 2024

~1 minutes read

New tenants in Galway paying €300 more than existing tenants

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New tenants in Galway paying €300 more than existing tenants

Renters in new tenancies in Galway paid around €300 more in rent per month than those in existing tenancies.

The figures from the Residential Tenancies Board are for quarter 3 of 2023.

On average, existing tenants in Galway were paying €1,223, while new tenants were paying €1,521

Renters in a new tenancy recorded with the RTB in the third quarter of last year paid an average of nearly 16 hundred euro on rent.

That’s compared to 1,357 euro paid by those in existing tenancies – a difference of 17.7 percent.

Overall, average rents for new tenancies grew by 11 percent year-on-year, while it was 5.2 percent for existing tenancies.

Wexford and Donegal saw the biggest increases in rent for new tenancies – at around 23 percent year when compared to the third quarter of 2022.

In Dublin there was an 18.2 percent difference in new versus existing tenancies, while it was 18.5 percent in Cork.

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