Monthly rents for private sector accommodation across the Ireland increased by 7.1% in the second quarter of this year compared with the same period last year, the latest published data shows.
Nationally, rents for houses were 6.4% higher, while apartment rents were 7.6% higher than in the second quarter of 2014, according to the data from the Private Rented Tenancies Board (PRTB) which is regarded as the most accurate and authoritative rent report of its kind on the private accommodation sector in Ireland.
Ireland plans to bring in legislation linking residential rents to the rate of inflation, in a bid to curb soaring rental costs, the Sunday Times reported.
Ireland's housing shortage has become a major political issue ahead of elections due in the next six months.
The European commercial property investment market has continued to gain positive momentum, with transaction volumes reaching €104.9 billion in the first half of 2015.
This was a 29% increase on the same period of 2014 and investment volumes for 2015 are forecast to reach €230 billion, which would make it comfortably the best year since the market peak of 2007.
Celtic Tiger leads the eurozone's housing price recovery but OECD warns of dangers of a new credit-driven bubble five years after crash
Residential property prices in Ireland increased by 0.9% across the country in July compared to the previous month but values in Dublin price growth is slowing, the latest official figures show.
On an annual basis prices are 9.4% higher nationwide but in Dublin they are 9% higher than a year ago. It is the first time since the middle of 2013 that prices in the capital city have risen by less than 10% year on year.
Commercial property investment activity in Europe reached its highest level since 2007, totalling €102.5 billion in the first half of 2015, the latest market analysis report shows.
The investment volume across the 16 participating countries was 25% up on the same period last year, according to the European Investment Briefing report from international real estate advisor Savills.
Irish residential property prices grew at their fastest pace in four months in July, climbing 0.9 percent on a monthly basis, although the annual growth rate continued to slow, data showed on Wednesday.
While prices across Ireland are 36.9 percent below their 2007 peak, the central bank introduced restrictions on mortgage lending in January to try to ensure price rises do not return to unsustainable levels amid a shortage in housing supply.
Demand for new housing In Ireland will continue to increase in accordance with population trends and a reduction in household sizes with 21,000 new homes needed per year for the next three years.
Details from the National Housing Statement by the Housing Agency points out that the population is currently at its highest for 150 years at 4.5 million and demand for homes is high as a result.
It also shows that affordability is an issue for those looking to buy in the greater Dublin area.
Overall house prices have increased across the country with the median price nationally at €152,000, up from €140,000 in 2013. In Dublin it is €260,000, up from €220,000 in 2013.
Total returns from investment property in Ireland hit 6.3% in the second quarter of 2015, rising above the 4.3% returned in the first quarter of the year, new data shows.
Offices continued to lead the market, returning 7.4% in the last quarter, and 37.7% year on year compared with 33.0% in 2014, another record performance figure for the office sector, according to the figures from the IPD/SCSI quarterly property index.
The pound rose to its highest rate against the euro since November 2007 on Thursday, climbing to €1.4350 at one point.
The euro fell against both the pound and the dollar as markets assessed potential interest rate moves over the next few months.
The European Central Bank is expected to maintain its loose monetary policy for some time to come.
However, markets are now waiting for rate rises in the UK and US.
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