The numbers of properties where notice of termination was served increased by the 10 per cent considering the new rental regulations. Landlords with rent-capped properties have been exiting the rental market due to low rental returns with no option to increase rents with sitting tenants above two per cent per annum.
New tenancies from March 1, 2026 permitted market value rents, subject to being comparable with rents achieved previously. These rents are documented on the RTB’s Rent Register.
The volume of rental stock increased by eight per cent even with a large volume of landlords vacating the market. We have seen new investors come into the market looking for high yields.
Rents have continued to remain strong across Galway city and county due to the lack of rental properties. We have seen a rise in the number of enquires for listed rentals. A lot of the enquiries are coming from tenants which have been served notice by landlords vacating the market. Most have had long tenancies at low rents and now they face massive rises in the rent for new accommodation.
The rental market is performing well for Q1 2026. It is predicted that rentals in 2026 will continue to remain strong. There is a large demand from tenants, and the stock levels are not increasing enough to meet demand. This provides investors with the opportunity to acquire rental properties to let out at a good return.
New landlords are aware of ever-changing legislation regarding rental properties and are choosing to hire specialised and licensed property agents to act on their behalf instead of doing it themselves. These costs are tax deductible against the rental income making it financially wise for landlords to appoint a licensed agent.
O’Donnellan and Joyce will be on hand to provide the required professional management advice to investors nationwide.
For further information, please contact Jamie Costello on (091 ) 564 212 or send an email to [email protected].
