Irish rental supply ‘simply isn’t keeping pace with demand’

Auctioneers across Ireland are reporting continued pressure in the rental market this summer, as strong tenant demand outpaces available supply in many areas - particularly urban centres and well-connected commuter regions.

Despite recent policy efforts aimed at boosting rental stock, the reality on the ground is a market defined by limited availability, rising rents, and increasingly competitive application processes.

Many would-be tenants are facing significant challenges securing suitable accommodation, especially in Dublin, Cork, Galway, and surrounding commuter belts.

“As auctioneers, we’re seeing first-hand how intense competition has become in the rental sector,” said Lavinia Larkin, Director at Property Partners Moore Larkin.

“Demand remains extremely strong, but the supply simply isn’t keeping pace. This imbalance continues to place upward pressure on rents and frustration on tenants.”

While newer build-to-rent schemes and individual landlord listings have provided some relief, many smaller landlords are choosing to exit the market due to rising compliance costs, uncertainty around tenancy regulations, and limited tax relief. This trend has further reduced the private rental supply, pushing more tenants into an already constrained system.

In some areas, properties are letting within days - often above the asking rent - while applicants submit references and deposits immediately to secure a lease. Families, young professionals, and even long-time renters seeking to relocate are all competing for a limited pool of options.

Auctioneers are calling for practical supports to encourage private landlords to remain in the sector, along with fast-tracked planning processes for rental-specific developments.

“We support the long-term goal of a more stable, secure rental sector,” said Lavinia Larkin, “but in the short term, meaningful incentives are needed to retain landlords and unlock much-needed supply. Without this, renters will continue to face an increasingly competitive and costly market.”

The outlook for the second half of the year remains cautiously watchful, with supply expected to remain tight unless meaningful policy changes are implemented.

For tenants and landlords navigating this busy rental landscape, expert guidance can make all the difference. Property Partners encourages everyone to reach out their local Property Partners agent - trusted professionals who can offer tailored advice, help identify opportunities, and ensure smooth, confident rental experiences.