IPW Rental Report

The Irish Property Bubble (2006) Sell, Buy or Rent?
#1

Average rent of properties rented this week drops below €1,100 for the first time.

Irish Property Watch

Time on the Market

* 5 Months+ 1,377 Properties, Average Rent = €1,349
* 4-5 Months 454 Properties, Average Rent = €1,327
* 3-4 Months 970 Properties, Average Rent = €1,267
* 2-3 Months 1,407 Properties, Average Rent= €1,305
* 1-2 months 1,840 Properties, Average Rent=€1,234
* 0-1 Months 9,965 Properties, Average Rent= €1,120

3,580 properties were rented in the last week and the average rent was €1,065

#2

1,377 suckers. I would love to know what is in the head of a person who sits on an empty rental property for 5 months.

#3

You’d have to think that the group who leave it idle in excess of 4 months are a mix of oddballs, uber rich and the hopelessly ignorant and/or desperate.

I was just farting around on Daft this morning. There are one beds available in the IFSC for €1100 (I still wouldn’t live there). Which doesn’t bode well for the owner-occupiers trying to offload their double rooms for €900. The cracks are really starting to open up.

#4

Very little BB !! :wink:
The pressure is really building in the rental market. It’s a snowball.

#5

Will anybody shed a tear for the nuevo landlords?

#6

I think what’s in their head is:
“my mortgage on the property is €1250 per month and the management fee is €2400 per annum so I need to charge €1450 per month to break even but everyone is entitled to make a profit so I’l rent it for €1600 to a ‘professional’ couple. Oooh aren’t I canny?!”

#7

The genius of some Canny Mc Savvies is unprecedented.

#8

We were recently approached by our landlord for a rent increase of €100 per month. Everyone we spoke to was gobsmacked. “They want to INCREASE your rent while rents everywhere are falling?” was the general consensus. So we told them politely where they could shove their increase, shopped around and just recently moved to a slightly smaller abode with extra savings of over €400 per month towards a deposit.

#9

Nice work Aspro. You have to put these people in their place. Just as a matter of interest, did the LL back down and offer to keep the rent at the same level?