|
Rent prices on the rise in Galway |
|
|
Written by Lisa Regan
|
|
Wednesday, 22 August 2007 |
Galway is one of the most expensive places to rent in Ireland, according to the latest figures from property website daft.ie. The average monthly rent in the city now stands at €1,150 and rent inflation is currently at 8.3 per cent.
As the property market is slowing down, prices are now stabilising for purchasers, but this is bad news for the rental market. As fewer people are buying and more people are renting this has pushed up rental prices across the country. The latest figures for rental properties show a whopping 12 per cent increase in prices over the last 12 months.
Rental property in Galway has fallen in line with this rise. The cost for one person to rent a room in the city now varies from €350 to €500 a month.
Students looking for accommodation in the city tend to go towards Newcastle, the city centre, Renmore, and student accommodations in and around colleges. Last college term, students were paying on average €330 for the city centre, €300 in Newcastle, €400 for certain student accommodation and between €300 and €325 in Renmore.
Comments () » |
 |
 |
