Dublin is back as leasing goes.
Residential rents in Dublin have even surpassed the peaks of a decade back. Rents in the last quarter of 2015 rose 0.4 percent above the high achieved in 2007, according to Private Residential Tenancies Board (PRTB) data.
Amid a severe housing shortage, cost and scarcity of accommodation in cities in particular, threaten to damage multinational investment in Ireland, as well as wipe out the benefits of a booming economy for many workers.
After the 2008 crash, Ireland was left with a surplus of houses but a decimated construction industry has failed to build and meet even half the annual demand of the 25,000 homes needed each year.
Though house prices remain over a third below the peak, rising rents mean many tenants will have to struggle to save up on the big deposits required under strict new central bank rules.
The mortgage market, computed at just under 5 billion euros last year, is half the sum analysts would consider normal. This is holding back the recovery of the banking sector, mostly state-owned.
To dampen the market, the government ruled in November that landlords would be allowed to raise rents only once every two years.
Irish Residential Properties REIT believe that rents would continue to grow strongly.
Rents in Dublin rose 9 percent in 2015 compared with a year before.