New data released this week shows a complicated shift in Ireland’s rental market. While the total number of registered tenancies has risen to its highest level in three years, the sector is still struggling to return to the levels of availability seen before the COVID-19 pandemic. Despite major rule changes designed to keep landlords in the market, the “stock” of homes available for new tenants remains historically low.
A Rise in Numbers, Not Availability
According to the latest Residential Tenancies Board (RTB) report, there are now 243,598 registered private tenancies in Ireland. This represents a 1.1% increase compared to last year. However, housing experts warn that these numbers can be misleading. While more people are renting than in 2023, the actual number of homes listed for rent on websites like Daft.ie has plummeted. In February 2026, there were fewer than 1,800 properties available nationwide—roughly 40% of the average seen between 2015 and 2019.
The Exit of the ‘Mom and Pop’ Landlord
The report highlights a significant change in who owns Ireland’s rental properties. For the tenth quarter in a row, the proportion of tenancies provided by large institutional landlords (those owning more than 100 properties) has increased, now accounting for nearly 15% of the market. In Dublin, this figure is even higher, at nearly 29%.
Conversely, smaller landlords—often called “mom and pop” landlords—are leaving the market in record numbers. In the last quarter alone, over 3,200 notices of termination were issued because the landlord intended to sell the property. Experts suggest that higher taxes and the complexity of new regulations are making it difficult for individuals with just one or two properties to stay in business.
New Rules: March 1st and Beyond
To address this imbalance, the government introduced new laws on March 1, 2026. These rules replaced the old “Rent Pressure Zones” with a nationwide system. Annual rent increases are now capped at 2% or the rate of inflation, whichever is lower.
However, in an attempt to attract new supply, the law now allows landlords to set rents at “market value” for new tenancies created after March 1st, provided the previous tenant left voluntarily or for specific reasons. The goal is to encourage developers to build more apartments, particularly in cities like Cork and Galway where rental inflation has hit double digits.
Regional Disparities
The crisis is most visible outside of Dublin. While Dublin saw a 4.4% increase in rents for new tenancies, counties like Cavan, Clare, and Offaly reported increases of over 10%. The average rent for a two-bedroom apartment nationwide now stands at €2,086, a staggering 34% higher than in 2019.
As Ireland moves further into 2026, the government faces a difficult balancing act: protecting tenants from rising costs while ensuring that the rental sector remains an attractive place for landlords to provide much-needed housing.
