Rents still on the rise in Kingdom

WITH very few new properties coming on stream and demand continuing to soar, rental prices in Kerry have continued their upward trend.

The latest ‘Rental Report’ from property website daft.ie (for the third quarter of 2018) shows that average rents across Kerry have jumped by almost nine per cent in the last year.

According to Daft, the average rental property in Kerry will cost €791 a month to lease, an increase of 8.6 per cent on this time last year and a 3.3 per cent hike on the previous three months.

Rental prices in Kerry – though still far below those seen in Dublin and Cork – have surged upwards by 44.5 per cent since the recession according to the daft.ie researchers who compiled the figures.

What is especially interesting about the Kerry figures is the breakdown of the prices that different classes of rental properties are currently fetching.

While a one bedroom apartment can be rented for €543 a month, a three bedroom house will cost €744 and a four bedroom property is priced at €819 per month.

These prices have increased by between eight and 11 per cent in the last year but, by comparison, the cost of a larger five bedroom home has increased by a far larger margin.

Renting a five bedroom house in Kerry now costs an average of €900 a month, a 19 per cent increase on last year.

While Kerry prices are on the up, potential tenants in the county can take some solace from prices in Dublin and Cork. An average property in the capital – of any kind – now costs close to €2,000 a month to lease while in Cork city you’ll need around €1,300 a month to rent.

At present on the Daft website there are 108 properties available to rent in Kerry with 27 in Tralee and 12 in Killarney.