Lifford/Stranorlar cheapest place to rent in Ireland
Donegal records greatest year-on-year rental increase in the country in 2022
The Lifford/Stranorlar electoral area had the lowest standard average rent for new tenancies in the country during the final three months of 2022, according to a new report produced by the Residential Tenancies Board (RTB) and the Economic and Social Research Institute (ESRI).
The standard average rent in new tenancies in Donegal during the final quarter of 2022 was €827.34 while the rate during the third quarter of 2022 was €794.10 - a change of .4%.
The standard rent for the final three months of 2021 in the county was €706.35 which shows a change of 17.1% when compared to 2022, the highest increase nationwide.
In the final quarter of 2022, the local electoral area with the highest standardised average rent for new tenancies was Dundrum, in County Dublin at €2,541 while the Lifford/Stranorlar area came in at €714 - a difference of €1,827.
The national standardised average rent in new tenancies stood at €1,507 in the final three months of 2022 – an increase of €30 compared to the previous quarter, when it was €1,477, and an increase of €106 was recorded when compared to the final quarter of 2021 when rent was €1,401.
The analysis in the report is carried out on a quarterly basis covering the period Q3 2007 to Q4 2022. The purpose of the Rent Index is to measure developments in the prices faced by those taking up new tenancies in the private rental sector.