Rental prices have climbed following the implementation of new government rent reforms that took effect on March 1. Market data reveals a nationwide rent increase of 4.4% between December and March, marking the sharpest quarterly rise recorded since 2002.
Current market rents have now risen to more than one third above pre-pandemic levels. Prices are nearly 80% higher than they were a decade ago.
Regional Rent Surges
The increase in costs has been felt most acutely in several cities. In the first quarter of 2026, market rents rose year-on-year by 18% in Galway city, 13% in Cork, 10% in Limerick, and 8% in Waterford.
Dublin also saw an increase, with market rents in March standing 6.9% higher than they were one year prior. As of early 2026, the average market rent for a two-bedroom apartment has reached €2,100.
Understanding the New Rent Reforms
The reforms, announced last year and enacted on March 1, introduce a minimum duration of six years for any new tenancies. After this six-year term, landlords are permitted to raise rents to match market rates, moving beyond the standard maximum cap of 2%.
New rules also target evictions. Large landlords, defined as those with four or more tenancies, are now banned from carrying out no-fault evictions for tenancies starting in March.
Small landlords may still utilize no-fault evictions in specific, limited circumstances, such as moving in a family member or facing economic hardship. However, if a small landlord exercises this option, they are prohibited from resetting the rent until the six-year window has concluded.
Availability and Market Supply
While the number of available rental homes has increased, experts suggest this trend should be “interpreted with care.” On May 1, there were just under 2,500 homes available nationwide, up from 2,300 a year ago and 1,800 three months prior.
Despite the rise, availability remains well below pre-pandemic norms, which typically saw around 4,000 homes available. Between February and April, more than 10,600 homes were listed on the market, a 13% year-on-year increase.
Professor Ronan Lyons notes that the gap between the June 2025 announcement and the March 2026 introduction of the rules likely prompted some landlords to delay listing their properties. He describes the current rebound in listings as smaller than the preceding decline.
The Road Ahead
The recent increase in full-property listings may reflect timing effects rather than a permanent increase in supply. Here’s supported by room rental trends, which have dropped by more than one fifth nationally and nearly one third in Dublin over the past year.
The ultimate success of these reforms in improving affordability may depend on the construction of new rental housing. Because building new homes takes years, the full impact of the new rules is likely to take significant time to be fully assessed.
Frequently Asked Questions
What is the minimum length of a new tenancy under the reforms? Any tenancies beginning from March 1 have a minimum duration of six years. Can large landlords still perform no-fault evictions? No, large landlords—defined as those having four or more tenancies—are banned from carrying out no-fault evictions for tenancies beginning from March. How do current rental availability levels compare to pre-pandemic levels? Current availability is well below pre-pandemic norms; there were just under 2,500 homes available on May 1, compared to approximately 4,000 homes available at any one time before the pandemic. Do you believe longer minimum tenancy durations will effectively balance renter security with market affordability?
