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Rents rise in Ireland's cities
Monday, February 11 07:49:46
Daft.ie reports that rents rose nationally last year by 2.2pc, according to figures released today.
Daft records it as the first annual rise in rents for five years. Rents rose strongly in urban areas, including Dublin where they were up by almost 5pc. Rents in Galway rose by 2.3pc and by just under 2pc in Cork.
However, rents fell by just over 1pc outside of those areas. Daft economist Ronan Lyons said the figures highlight the fact that much of the excess property from the boom is outside urban areas. He said those seeking work were heading towards cities for employment opportunities which was increasing demand for rental properties.
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