However, the quarterly spike has slowed to its lowest level since 2020, with costs up just 1% on average compared with the previous three months.
Property website Daft.ie said the average market rent&nbsp;nationwide between January and March was &euro;1,750 per month, compared with &euro;1,387 in the first quarter of 2020.
The upward trend in market rents is driven by extraordinary shortages in the availability of rental accommodation.
Nationwide, there were just 959 homes available to rent on May 1.
While this is up 13% on the&nbsp;same date last year, it still represents one of the three lowest totals for availability at the start of the month in a series that extends back to the start of 2006.
The report's author Trinity College Dublin associate professor of economics Ronan Lyons said: "For over a decade, the rental market has been characterised by worsening&nbsp;availability and higher and higher rents.
"The market has been under increasing stress over the last two years, as first society reopened after the pandemic and then the Ukraine war led to a refugee crisis.
"There are some signs that, if things are not getting better, then they are not getting much worse.

Rents increase by 11.7% in year

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.