Comparison to UK city rentals


#1

Have just been involved in the recruitment of a person from the UK. He’s moving over with his partner and they’re absolutely shock at the cost of renting here - he was warned. He is playing roughly 30% more for a pretty sub-standard one bed in D2 than he was paying in a larger UK city for a 2 bed. He’s taken a 6 month lease in the hopes that things improve. He showed me the advert for his two bed - it seems to be in a nice part of the city and you wouldn’t even find a decent one bed for that money here.
You can say comparisons are unfair and that Dublin had a big tourist market that drove prices up - the equivalent in the UK would be somewhere like Edinburgh which has a highly paid workforce in the financial services industry and a massive AirBnb and general tourist presence, as well as a couple of substantial Universities. Here is a 2 bed in a prime area of Edinburgh , with Sterling at a 10% premium this is a 2 bed for €1540 a month - it’s been on Rightmove for 4 months. There were plenty in this price range but I stayed in a hotel near here a couple of years ago so I know this is a very good area.

@beattie found this one discounted down to €1875 - https://www.daft.ie/dublin/apartments-for-rent/dublin-4/2-bedroom-apartment-available-immediately-dublin-4-dublin-2038231/ I don’t think there’s any comparison.

I think we have a long way to go on the rentals.


#2

Good points - but you have to be careful, mental health careful, you should have had a warning in this thread or title, because when you go looking at larger and more functional markets outside of fantasy island, you need to be mentally prepared! :wink:


#3

In my opinion a lot of Landlords think they should have a license to print money with no rules attached on an ever increasing asset.
As the TV adverts say
The value of your investment may go down .
Landlords do not seem to accept this fact
However In my opinion we are going to see a correction in rental rates no matter how many push against the tide


#4

I also wonder does Edinburgh have the amount of stock that we have that will come to the market over the next 18 months or so. I was traveling through the North Docklands recently and it is quite jaw dropping what is coming down the tracks.


#5

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#6

its already happening.
To be fair the purchaser bought this pre covid and had no idea what was coming down the line.
In Covid terms I would have thought that Co-Living was a nightmare scenario


#7

I was talking to someone in the English language School market and he reckons that the sector will never fully recover to where it was pre Covid. That in itself filled a lot of rooms in Dublin.

If what this councillor is saying comes to fruition it will truly set the cat amongst the pigeons. I think the owners of these places might end up actively approaching the government to take them off their hands (for a princely sum no doubt).


#8

As I said will the Government want co-living in a covid world
The next pandemic with a different virus may be only around the corner.
We escaped SARS and MERS


#9

Covid world or not co-living setups were always going to be the slums of the near future. You’re right about the SARS/MERS thing - this type of virus and the way it was spread (mass transit airlines) will continue until we change our lifestyles.