Was â‚¬ 1,750 now â‚¬ 1,700. Hearing from several clients re difficulty in letting properties…
I was being told recently its impossible to get enough rental places to meet demand. While I am not saying this is direstly contradictory its still a bit hard to tell from EA opinion and then sqauring up pattersn on daft.
I believe that supply is upping and some places I’ve been watching on daft are there a good long while now. To be honest property owners are doing themselves no favours by being greedy, its as simple as that.
Ive been watching one bedroom apartments on Daft recently and its clear that good 1 bed apartments priced less than â‚¬1,100 are going fairly fast. 1 beds priced higher than â‚¬1,100 are sitting on Daft for quite a few weeks.
Im forecasting a drop of â‚¬100 pm across the board over the next two months as landlords drop the price to grab a tenant.
I visit Daft rentals in Ballsbridge and Donnybrook every day - have been doing this for 3/4 months now. It’s difficult to pinpoint drops because you don’t have numbers, just street names, apartment block names, etc. However, it’s clear to me that landlords in say for example Bloomfield, Donnybrook (approx 11 now on daft) and Pines/Cedars, Ballsbridge (approx 20 now on daft) are having prpblems. I have one client who has been trying to let his Bloomfield property, 2 bed - approx 700 sq ft, for 6 weeks now - he’s looking for â‚¬ 2,300 - approx the same as other landlords in the same complex.
I try to follow these rental markets because I feel that this is one of the key issues in this whole property debate. Pity we have such poor stats…
He has lost 6 weeks rent because his price is too high. Paradoxically, being greedy sometimes causes you to lose out. If he had undercut the other landlords he wouldnt have lost 6 weeks rent. In fact, he’d be up 2k by the end of a 12 month period
10 months rent @ â‚¬2,300 = â‚¬ 23,000
12 months rent @ â‚¬2,100 = â‚¬ 25,200