Average residential rents have risen by 10% to €915 (£731) per month in Ireland as available stock plummets.
The rent has increased from €825 on average in 2013, and rents rose in every county except Donegal.
Prices in Dublin climbed by 17.2% to €1,345, while Waterford saw a 2.8% increase to €608, and in Cork rents rose by 7.4% to €866.
The latest quarterly rental report by Daft.ie said there were now just 6,800 properties available to rent across the Republic, down from 11,000 in August 2013.
The figure has aroused concern about how students will be able to secure accommodation.
Ronan Lyons, economist and author of the Daft report, said: “For students looking for accommodation, the 2014-15 academic year is likely to prove one of the toughest for over a decade. The imbalance between supply and demand is particularly acute in Dublin, where rents are closer to their 2007 peak than their lowest point in 2010.”
joanna.bourke@estatesgazette.com
