The Average Monthly House Rental in Major Cities of Ireland

The Average Monthly House Rental in Major Cities of Ireland

Since the city is experiencing an increase in national and international population, the direct effect can be seen on house rental prices. With the increase in population, the house rental has been increased over the years. The house rental price and the rate of increase may differ from city to city in Ireland. Undoubtedly, living in the capital Dublin is more expensive than the outskirts or other major cities like Cork, Belfast, Limerick, Waterford, etc. These high living expenses include day to day living costs, travel costs, and most importantly housing costs. Whether you buy a house or rent a house, you will have to pay more in major cities than the ones which have not yet become an overseas commercial hub.

According to recent studies, the average monthly cost of living on rent in Dublin has gone up to E2,000 which is E650 more than what it was in 2011. The hike is primarily due to a shortage of supply of homes. Though the rate of inflation in the past year is 6.7 percent, still it is the lowest since 2013. Talking of other parts of Ireland, the current average monthly rental cost in Cork is E1,366, Limerick is E1,225, Waterford is E1,013 and E993 in a few cities of Ireland. According to RTB Index publication, Cobh and Maynooth are listed as for rent pressure zones where the rental houses cost higher than the average nationwide house rental cost. The government is working towards finding a solution to the situation. Till then the probable tenants will have to figure out ways for finding an affordable rental house.

Now, since you know that the rental cost of houses in Ireland is quite high, you must accordingly choose your location of living which suits your budget. If your job allows, considering the distance and finances, you can choose to live in any of the major cities of Ireland. Wherever you may live in Ireland, you must not miss buying a home insurance policy. House insurance in Ireland is mandatory for both the house owner and the tenant. House Insurance Ireland gives liability coverage to the tenant. This liability could be towards the landlord in case of damages to the property or interruption in rent payment. Also, if anyone (like a visitor) gets injured on the property then also third-party claims against the tenant have been covered under home insurance Ireland. Tenants can also choose to cover the contents of the house under content coverage to seek financial assistance if they have to pay for replacement or repair of lost or damaged contents of the house rented to them. Comprehensive house insurance Ireland can cover the tenants for threats like fire, theft, storm and similar other risks too.

Even if you are living on rent, your landlord must have taken a house insurance policy for the same house. His insurance policy will also cover him for similar risks. Since the house rental is high in Ireland, the landlord is always under the fear of omission in rent payment. To lend his house securely, he buys home insurance. Additional benefits that a landlord can get under his home insurance Ireland policy are protection against risks like theft, fire, storm, damage to property or its contents, third-party claims of injury on the property. The home insurance of the tenant and the landlord, both are valid at the same time so either of them must not miss buying home insurance Ireland under the impression that the other party has it so they don’t need it. Buy home insurance and live hassle-free in a rented house.