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28 May 2022

New figures show rents spiraling out of control in Donegal - Donegal TD claims

Rent prices up 22.7% in Donegal

New figures show rents spiraling out of control in Donegal - Donegal TD claims

The average cost of renting a home in Donegal has risen to €857 per month.

The price has jumped by 22.7% in one year, according to a new report by Daft.ie.

In the first quarter of 2022 in Donegal, the average rent price for a 1-bed apartment is €592, a 2-bed house is €690, a 3-bed house is €792, a 4-bed is €886 and a 5-bed home is €960.

Donegal TD Pádraig Mac Lochlainn said the continuing rise in rents in the county is reaching "worrying levels".

Deputy Mac Lochlainn said: "The latest Daft.ie rental report for the first three months of 2022 shows that the average asking rent is up 22.7% in Donegal compared to this time last year.

"This is a crisis. These shocking rent increases are not accompanied by similar hikes in wages and with the cost of living through the roof, people will struggle to meet these rises.

“People on ordinary incomes are struggling to pay the cost of their rent and are under huge financial pressure. Far too many workers and families here in Donegal are worrying every day about how they will pay their rent. This should not be happening.

"The government has refused to designate any area of Donegal as a Rent Pressure Zone so tenants in Donegal are left blowing in the wind.

"Rent prices are exploding in Donegal because rather than build public housing for over 10 years, government after government pushed families into the private rental market and now the lack of private rental accommodation across Donegal has created a classic supply and demand squeeze. And mostly young working families are paying the price.

"The government must stand up for renters here in Donegal and ensure that rents are cut drastically, so that they are at levels that are affordable for people on ordinary incomes.

"We need a ban on rent increases on all existing and new tenancies, and we need the government to put money back in renters’ pockets through a refundable tax credit worth a month’s rent. 

"Government must also accept that we need to see affordable cost rental delivered at scale. At least 4,000 units per year to meet affordable rental demand.”

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