CITY RENT PRICES INCREASE BY OVER 2 PERCENT

Date Published: 11-Feb-2013

The average cost of rent is Galway city has increased by 2.3 percent, while the county has recorded a slight rise of 0.4 percent.

That's according to the latest rental report from property website Daft dot ie which shows that the city rise is largely in line with the national picture of 2.2 percent.

The 2.2% annual increase in rents is the highest since mid-2007.

In Galway city, the average rent price in the last quarter of 2012 was 780 euro, while in the county, a cost of 552 euro was recorded.

Ronan Lyons is an Economist with Daft and says the rise in rents in Galway city is largely due to the growth in rental demand in such large urban centres