2 bed apartment in the block across from me is up for rent. I’ve been keeping an eye on the surrounding area (FYI the -100k Crescent development is adjacent).
Has been available to let for a few weeks now.
It was going for €1500. What do you do when your property has attracted no takers at €1500? Why you put it up to €1850, maybe you’ll attract some flash harry who likes it better that way.
What’s the thinking here? I better make back that €1500 I’ve lost out on the past month, so I’ll bump up the price?
I’d be very interested to hear from Mr Anderson any insights from an EA;s point of view as to how zero interest in a rental property can lead to an increase in the rent sought.
I love this country. Even people who know absolutely nothing about the law of supply and demand gets to become a LL. If for a short period only.
In Ireland everybody gets their 15 minutes as a LL.
Is there anything particularly special about this penthouse? I’m asking because you can rent in Phoenix Park Racecourse for 1400-1600, and you’re far enough away from south Finglas that you don’t need to worry about getting your car broken into.
Too many reasons, but here are a few possibilities …
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Believing your property is worth what you think its worth, not what the market deems its worth,
Not following the advice given by the EA,
etc etc
Too many to list.
MOD Edit: Mr. A, you know better, allude rather than be that direct, thanks TUG.
Incidentially, due to the delay in ascertaining price rises/falls, nowhere is the old adage ‘papers print yesterdays news’ more relevant than with regards to property.
