Seapark, Clontarf -4% in Nov 08, -15.5% since Oct 07

Am renting here myself since Oct 07 and recently agreed a 10% drop in the monthly rent with my LL (who in fairness to him had no issues). I’ve kept an eye on things from before we moved in and done some basic analysis:

These are mostly 2 bed apartments - the majority are old (1970) but in a very quiet location with a huge common area.

October 07 - average asking rent was €1,300
Nov 4th 08 - average asking rent was €1,143 (a drop of 12%)

Today the average asking is €1,098 - a 15.5% drop in 13 months and a 4% drop in 3 weeks.

There appeared to be a floor of €1,100 for the last while which today has been broken with one asking €1,090.

From my own point of view I really would not be suprised to see the asking rent for these in the mid 900s this time next year.

Murph

7 properties now listed.

Average of €1,064

Race to the bottom has started in earnest with one of the properties now available for €900. Perhaps my estimate of mid 900’s by November next year was a bit conservative…

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