Rental Costs - Unreal!

Why rents haven't plummeted during Covid-19 (rte.ie)

A family member obtained what was probably the very last jumbo rental contract for a docklands apartment before covid19 hit-the one year lease expired today. It’s a one bed that isn’t suitable for a couple working from home so they just didn’t renew without even asking for a reduction. The agent reckons he’s looking at around a 15% drop.

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I know someone who is moving into the Docklands now. Secured a reduction of just under 25%. This is a high end place.

Colleague in work was distraught today. They are renting a place in a not so salubrious part of Dublin and have been told this morning that their rent is increasing to €2000 a month from €1850 which was already cutting them to the bone. They have kids and are trying to save for a house and this is killing them altogether.
I’m 10 years in my own gaff now and thought I’d be moving upwards but thats out the window altogether, counting my blessings that I’m not caught in a rent trap, we’d be living in the back of nowhere now if we had to house three children and rent.
I’m glad my kids are still in primary school, hoping by the time its their turn to venure out into the big bad world that things are better for them than the current generation starting out.

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IRES Reit chief executive David Ehrlich told the Irish Independent that he had never seen a market like that in Ireland, which has had such an extreme imbalance between supply and demand.

No, it is the level of immigration that has caused the ‘housing crisis’
And just about to get even worse

ECB/IMF/FFG’d that for you.

IMHO, Ireland’s next problem will be probably be a leftist (global solidarity/open borders → more labour market restructuralization again under a different name.) government that will increase our debt even further under the guise of “helping”.

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The new annual cap will only operate when general inflation is higher than 2%.

At the start of this month, there were just 1,460 homes available to rent, according to Daft.

That is an all-time low, since the figures started to be collected back in January 2006.

This is what you get when you constantly tinker with the market. Would-be landlords are staying away

Dublin was the second-most expensive capital city in Europe behind London. It was followed by Luxembourg, Amsterdam, Stockholm and Copenhagen. The cheapest European capital was Sarajevo where average monthly rent was €262, requiring a net salary of €623.

Rents are rising at a rate of 6.8%, according to property website Daft.ie. In November, it said only 1,460 homes were available to rent, the lowest number since its quarterly reports began in 2006.

Casino Hall is rent a quote:

Housing campaigner David Hall, of the Irish Mortgage Holders Organisation, said the findings were ‘not surprising’. He said: ‘We have a major shortage of houses. We also have people competing with investment and cuckoo funds buying them and renting them out for profits.’

Describing the housing crisis as ‘the number one social challenge in Ireland’ aside from the pandemic, he said: ‘People are under immense pressure. A day doesn’t go by that I don’t have multiple calls from different individuals, politicians and people in the community looking to try to find somewhere to rent.

Yes, and these people under immense pressure also compete with those unwilling to pay for the mortgages they signed up to, don’t they Mr. Hall.

The advertisement read: ‘Hey currently have a room to rent in North county Dublin, not looking to rent for cash but instead a fwb situation. Strictly applies to females, no males will be considered.’

A similar ad for a separate Dublin property read: ‘House located in Santry Dublin, so close to city, free car park and bus stop at home… Let’s chat soon. Note please only for sweet cute and charming girl only…Hahahaha Ping me soon, NSA.’

Sure it’s grand.

Even Ireland’s media outlets now have to try and sit up and begin to take notice…

Irish Daily Mail

ArticleLand­lords are leav­ing the mar­ket in their thou­sands

LANDLORDS are leav­ing the mar­ket in their thou­sands, blam­ing excess­ive tax­a­tion, rent con­trol and con­stantly chan­ging laws. Fig­ures from the Res­id­en­tial Ten­an­cies Board (RTB) have shown 5,615 evic­tion notices have been served on…

Airbnb needs to die in a dumpster fire.