Rents nationwide were 0.5% lower in the second quarter of 2012 than a year previously.
This is according to the latest report published by property website Daft.ie.
Between April and June, the average advertised rent in the country was €809 a month, compared to €814 during the same time last year.
The last 12 months have seen rents rise in Ireland’s major cities, but continue to fall elsewhere, today's report shows.
Rents in Dublin are up to 2% higher than a year previously, as are rents in Cork city (up 1.7%). Rents are up marginally (0.2%) in Galway.
Prices are 0.9% below the level of a year ago in Limerick while in Waterford city, rents have fallen by 4.5%.
Outside the cities, the Daft report shows that rents are down year-on-year by between 1.3% and 3.5%.
Daft.ie economist Ronan Lyons noted that supply conditions are becoming tighter.
He said: "This is the third summer in a row where there were fewer properties available to rent nationwide at any one time.
"This is particularly the case in Dublin, which means that some prospective tenants may find that they have to live further out than expected."
