The RTB Rent Index, Q4 2023
May 2, 2024
- Q4 2023 Rent Index Report includes information on rent levels in existing tenancies, as well as new tenancies. In November 2023, the RTB published the Existing Tenancy Rent Index for the first time. This marks the third time Existing Tenancy Rent Index indicators are available, providing insights into the rents paid by sitting tenants.
- Rent levels in existing tenancies are lower than in new tenancies: Nationally the standardised average rent in Q4 2023 was higher for new tenancies than for existing tenancies (€1,595 vs €1,374), a difference of €221 or 16.1% per month.
- Nationally, rent levels in both new and existing tenancies have increased. In Q4 2023 the standardised average rent in new tenancies grew by 9.1% year-on-year and in existing tenancies grew by 5.9%.
- The standardised average rent for new tenancies in Dublin in Q4 2023 was €2,098, or €293 (16.2%) higher than the standardised average rent for existing tenancies which stood at €1,805.
- The standardised average rent for new tenancies in Cork in Q4 2023 was €1,400, or €242 (20.9%) higher than the standardised average rent for existing tenancies which stood at €1,158.