The cost of Rent in Roscommon has increased by an average of 5.1% during the past 12 months according to today’s report from property website Daft.ie
Overall rent prices have increased by 8.9% since the “trough” or lowest level, compared to a 36.7% increase in Galway City.
The good news, is that despite the increase Roscommon is the least expensive places in Ireland to rent a home. The report found that the average price to rent in Roscommon was €537 per month with a full break down as follows:
The rental yield – the ratio of rents to the price of the property is down slightly over the past 12 months in all cases apart from 5 Bedroom Houses, were it remained the same.
The rental yield is comparable to an interest rate and is frequently used as a measure of how healthy the property market is.
The report also found that in the case of 1, 2 and 3 bedroom homes it continues to be less expensive to pay off a mortgage than rent a home, even allowing for an increase in the interest rate.