RISING RENTS IN Galway are to be investigated by the regulator for the private rental sector.

The Residential Tenancies Board (RTB) has said this morning that it will meet with renters and landlords to help understand the “concerning trends” in the city.

It follows “unusual patterns of rental inflation” and “persistently high” rates in in Galway according to the watchdog.

In a fresh report released today, the RTB said that the average rent for new tenancies in Galway city is €1,730, placing it ahead of all cities aside from Dublin. Cork city has the third highest at €1,605.

The RTB said today that it will also host a forum for Galway to “address rental law compliance” as part of its response. RTB figures show that there are 13,324 registered private tenancies in the city, with the real number likely higher due to some tenancies not being signed up to the regulator.

“After eight consecutive quarters of high growth in new tenancy rent levels in Galway, the RTB will engage directly with renters, landlords and other rental sector stakeholders in the county this June to investigate this trend further,” the RTB said in a statement this morning.

In its latest quarterly update published today, the RTB said it has added the Local Electoral Areas of Tullow in Co Carlow and Castlebar in Co Mayo to its Rent Pressure Zone list. This means that landlords rents can’t raise rents by more than 2% annually.

The standardised average rent for new tenancies nationally rose by 5.5% year-on-year to €1,680 in Q4 2024. It rose by 4.6% year-on-year for existing tenancies nationally to €1,440 in Q4 2024 which the RTB said marks a moderation on the rates of rental inflation seen earlier in 2024.