It comes as supply has hit a new low, with fewer than 1,800 homes available to rent nationwide as of 1 February.
This is down 22% compared to the same date in 2025 and is the lowest level of availability for this time of year since the Rental Report series began in 2006.
Daft said the drop in availability is “particularly acute” in Dublin, where the number of homes to rent is down annually by over one third, leading to the average apartment rent in the city to climb to nearly €2,700.
"With supply still shrinking, and significant uncertainity about the exact nature and impact of new rent control measures due to come into force in a matter of weeks, underlying pressures in the rental market remain firmly upward in 2026."
Professor Lyons added, “Unsurprisingly, with extremely tight availability, rents in the open market continue to rise.
“The same is true for room rentals, which have also seen a sharp fall in availability in the last year.
“It remains to be seen whether supply is holding off until new tenancy terms come in on 1 March or whether the change in rent controls has led to a further reduction in the stock of rental homes, as landlords sell up.”