Latest Daft report: Donegal’s rent increases are the highest in the country
Rent prices in Donegal have risen the most nationally in the last three months of 2023 - when compared to the same period in 2022 - but the county is the second cheapest to rent a property
Rental prices in Donegal have shown a sharpest increase in the country for the final three months of 2023, according to the latest Rental Price Report from Daft.ie.
Market rents were on average 20.2% higher from October to December last year, when compared with the same period in 2022, which is ahead of Mayo, at 16% and Cavan, at 15.6%.
Donegal’s increase in rental prices is up 2.9% from the period of July to September 2023.
The average listed rent in Donegal of €1,154 is up 78% from the level prevailing when the Covid-19 pandemic occurred. Nationally, market rents rose by an average of 6.8% during 2023.
A one-bed apartment in Donegal costs on average €741, which is an increase of 13.8%, with similar rises in two-bed houses €908 (+19.6%); €1,040 (20.6%) for a three-bedroom house; €1,162 (17.3%) for a four-bedroom house and €1,423 (16.7%) for a five-bedroom house.
Rentals in Donegal are considerably higher than mortgages, with a one-bed apartment mortgage repayment for a month at €335 on average, compared with €741 to rent. In regards to a two-bedroom house, the mortgage is €451, with a rental of a similar property being €904.