43 Rathmines Road Upper (-510k, -42.5%)

Was 1.2m
property-vultures.com/History/497766.html

Now 800k
daft.ie/searchsale.daft?id=497766

Claims rental income of 60-70k per annum. 60k would be a 7.5% yield.

690k
daft.ie/searchsale.daft?id=497766

So RA has no bearing on rent levels? Yeah right.

€600pm for what has for decades been considered the bottom of the rental food chain - the Rathmines bedsit - still seems to be where we’re at. Going on the rule of thumb about 1/3 disposable income spent on shelter, that means these single renters need to be on €1,800pm, which is a €27,000 salary.

To me, this is fucking insanity beyond words for a small peripheral country like Ireland.

Note also the yield figure mentioned in the original ad has now been reduced to €53k, corresponding to the the reduction made to rent supplement by the government in the 2009 budget