Galway city rent hikes second highest in the country
Keys in hand
A recent report shows that Galway city is among the top cities in the country for the cost of rent. The city falls just behind Dublin with the average new rent tenancy being €1,686 according to recent figures published by the RTB.
Rent rates in the city
The average rent a tenant in the city has to pay been recorded at €1,353. The 2023 figure dwarfs the county rate. Galway county, stands at €991 per household. The central portion of the city has seen the highest proportion of rent being tallied at a rate of €1,758.
Other parts of the city which have recorded new tenant rates in the west is a cool €1,704. The east of the city has the lowest rates for new tenancy at €1,519.
In relation to regular tenancy for 2023 in the central part of the city, existing rent rates are at an average of €1,489.
Factors affecting rent hikes
With the price of rent on the rise in Galway city, one factor in particular has been highlighted which may be a reason as to why rates have inflated. Fianna Fáil TD Éamon Ó’Cuív believes that our population has been an influence on rate increases.
“The population in the city and across the country is ever increasing, we now have one of the vastly rising populations in Europe,” said Mr Ó’Cuív.
Mr Ó’Cuív also believes that one of the issues surrounding the rent hikes lies at the door of market failure. There are also constraints on rent in some quarters of the city which can be seen according to Mr Ó’Cuív.
Councilor John Connolly
Galway West councilor John Connolly has sided with the tenants in the recent rent hikes. Mr Connolly believes that most tenants deserve rights when it comes to rent issues.
“The crux of the issues is that tenants should have more rights, we must assure that there are more laws installed to give more rights in the city,” said Mr Connolly. With the city seeing the second highest rates of rent in the country it is viewed as a ‘red pressure zone’.
Incidents of landlords also not being fair with tenants has also arisen. “When the tenant moves on, the house may become available to rent and that’s illegal, “I have been made aware that this is actually happening,” said Mr Connolly.
The pressure on housing is also putting a strain on tenants and the landlords too added Mr Connolly.
The average notice period that a landlord is able to give to a tenant is determined by how long the tenancy has been in existence and has also been muted by the RTB.
