Things are going to get really bad for many older renters if this trend continues as they get priced out, then kicked out to rent to younger higher rent payers.
Bit suspect that a company that owes us €13bn would consider investing €1bn here.
Does have a valid point though
How many houses, water pipes, roads and buses or trains could you get for €13B?
Having been in the room with MNCs and ministers on two occasions I have a fair idea of the pressure tactics that are bought to bear on Irish ministers (think rabbit caught in headlights). Datacenter planning issues aside. All the MNCs that bring in staff from the continent are hitting the same problem they cannot get or retain said staff simply because there is no place for them to stay beyond the short term. That leads to a whole lot of extra costs including long commute times, lost productivity through churn and constant re-training (so the company they join next benefits) not to mention the costs of unfavourable personal tax levels with new overheads on the way that cause employees to re-evaluate their long term future in Ireland. You will always get a certain % of employee churn but with numbers hitting 30%+ per annum that quickly becomes unsustainable for specialist skills.
IBEC represents the interests of 7,500 businesses and declares:
The cost of renting in Ireland is “damaging competitiveness”.
Failure to solve the housing crisis will mean that prices on other goods will increase in the future
thejournal.ie/ibec-growth-ec … 3-Jan2018/
Una Mullally has decided the rental crisis is in large part down to landlord greed. You gotta love the last paragraph with its implication that below-market rent is a right which, if granted, would stop tenants from trashing properties.
Estate agent Owen Reilly gushes:
Average residential rent per sq. ft. in Dublin 2 is €36.22
Commercial office space is €50-55 psf.
This explains a lot obviously.
she is the mouthpiece for minister zapper, she should ask her first and see how far she gets.
within 5 years people will be sleeping in hammocks by their desks.
That’s quite a twitter feed, thanks for sharing
also from Owen, €615k for a minuscule cottage in East Wall. twitter.com/OwenReilly/status/9 … 6395074561
Good news! Now even a teacher can afford a €3,000/month pent house apartment with a swimming pool in Dublin*****.
*** As long as they share it with AirBnB guests and also claim the dole twice under two different identities.**
Seems like yer man made a few rookie errors, might have got a away otherwise?
Yes, having a profile online was stupid.
Whatever happened to the rule that EU nationals had to leave after 3 months (or is it 6) if they couldn’t support themselves. This guy arrived over in 2002 from France and claimed welfare until caught in 2015!!!
I’d say there are thousands more at this and they are a lot smarter about not being caught
you’re having a laugh? Has never been enforced!
Supermacs boss says that his chain are finding it difficult to attract/keep staff in Dublin due to high rent costs.
Two sets of friends who rent houses (one in Stoneybatter and the other in Phibsborough) for over 6 years (paying about 30-40% below market rent it has to be said) have been given notice from their landlords that they are doing major renovations and they have until May to get out. I have a friend who works in Ryanair and he has heard the same thing from several of his coworkers around Swords.
The rent control areas thing is such a joke- it only sheilded those who had a liveable rent a few years ago until the landlord cops on that this is the only way to get the “market rent”- now that the sitting tenants cannot hide from the rent increases there is going to be alot of anger on the doorsteps for FG at the next election. I have advised one my friends to try to negotiate a rent increase as they will really struggle to find as decent a place they are in for even 30% more rent but the agent refused saying that they know that they could put it on the market now for almost double the current rent AND they would be offered more by potential renters who want to secure it. So they are going to kick them out, put in a new kitchen and paint the place to do just that in May. Absolute craziness.
Complete shit show! Well done Michael Noonan on your fabulous success!
Look on the bright side - they escaped rent increases until now.
And why not? Three bedrooms … should be able to get at least a dozen people in there. A snip at only sixty quid a week per head.