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Dublin rents rose 11pc to end of March

Rents are continuing to soar in Dublin.

New figures from the Private Residential Tenancies Board (PRTB) show apartment rents in the capital rose 11pc in the 12 months to the end of March.

Average rents in Dublin were up 9.6pc, the board said. In monetary terms, house rents rose on average €110 a month while apartment rents were up €118 a month. Outside Dublin, there was an increase of 5.3pc.

Lack of supply was the main reason for the hikes, PRTB director Anne Marie Caulfield said.

She told RTE that rents at the beginning of the year in Dublin moderated. That suggests most of the increases happened last year. Ms Caulfield said that under the law rents can only be increased once every 12 months.