Renting in Dublin? So Expensive???

nadir

I'm looking to rent a place in the city, but any studio/apartments / one bedroom apartments are 1000+ .
How is someone supposed to afford that.
one bedroom apartments seem to go from 1000 -> 1500 .
wtf. Is everyone a couple? Paying over half my salary to rent, seems excessive???
Do I have to share with someone I dont know? Is it the only way to live in Dublin?

superfly

if you live in a house on a Dart or Bus line it will be cheaper to share with rooms about 4-500 euro

bugler

There are apartments out there for less than €1000, but I wouldn't expect them to be very nice. If you want a nice, modern apartment in Dublin on your own you need to be well off financially.

My main problem was actually getting somewhere to live, rather than the price. The latter became less of a factor as my desperation increased. It's not a good time to be looking for somewhere to rent, although by the general tone of this board it seems this will slowly change.

ronbyrne2005

1000euro a month for a nice one bed near city centre is not excessive and is cheap compared to the mortgage on such a property and is less than an apartment in similar european cities. The average wage is circa 33k and most one bed apartments have 2 people in them, if your on less than 22k(2/3'rds average wage) a year then you should'nt expect to afford a place by yourself in the middle of an expensive city.

soma

ronbyrne2005 wrote:

1000euro a month for a nice one.. ..is less than an apartment in similar european cities.

And what, pray tell, is a similar european city..? Note: If you say London or Paris I will laugh until I unfortunately see my lunch again.

bugler

ronbyrne2005 wrote:

The average wage is circa 33k

Ron, where did you pick this figure up? Nothing to do with this thread but I'd actually be interested in knowing where this figure came from and how accurate it is (promotion related :-))

Most of the average wage lists I see are all indexed etc rather than putting an exact figure on it.

Thanks!

godtabh

bugler wrote:

Most of the average wage lists I see are all indexed etc rather than putting an exact figure on it.

In the metro or herald it said the average was €44k

Raekwon

ronbyrne2005 wrote:

1000euro a month for a nice one bed near city centre is not excessive and is cheap compared to the mortgage on such a property and is less than an apartment in similar european cities. The average wage is circa 33k and most one bed apartments have 2 people in them, if your on less than 22k(2/3'rds average wage) a year then you should'nt expect to afford a place by yourself in the middle of an expensive city.

More holes in this post then there is in a teabag

Calina

ronbyrne2005 wrote:

1000euro a month for a nice one bed near city centre is not excessive and is cheap compared to the mortgage on such a property and is less than an apartment in similar european cities. The average wage is circa 33k and most one bed apartments have 2 people in them, if your on less than 22k(2/3'rds average wage) a year then you should'nt expect to afford a place by yourself in the middle of an expensive city.

Ron, tosh. Dublin is expensive, but that's not justification for it being expensive as in Dublin is expensive because it's an expensive city is circular logic.

1000E a month for a nice one bed is hilarious if only because most one beds near the city centre are miniscule and therefore represent shocking bad value. In other words, they're not actually nice, per se. They're just the best of a bad lot. In similar European cities, eg Belgium and Munich, it is entirely possible to pay a lot less than 1000E a month for a nice one bed. In Frankfurt you'll get a nice 3 bed for that. In Paris you'll get a studio for around 400E but such things don't exist here. I'm coming up with 600E for a two roomed apartment there though. 450E will get you a really nice apartment in Brussels. Do you want to reconsider?

You'd want to be really very close to someone to share most of the one bedroomed apartments in this country with that someone. I'd go insane on my own in them.

ronbyrne2005

I was saying rent is cheap compared to average income and the amount a mortgage would be on same property. Look at similarly PRICED properties in european cities and see the rents on them. Rental yields are much better in most of such cities indicating rents are more expensive relative to property prices. Property is wildly overvalued here which distorts the issue but a recent study of executive apartments around london(2bed prime city location) found us well down the list of most expensive for accomodation especially considering our incomes are quite high here.http://www.finfacts.com/irelandbusinessnews/publish/printer_1000article_10006339.shtml

Scroll to rent comparision at bottom of page. We are very cheap by world standards and many low wage countries are actually similarly priced.

Calina

ronbyrne2005 wrote:

Look at similarly PRICED properties in european cities and see the rents on them.

Similarly priced properties do of course have similar rents on them. What is your point? The problem is that they are not similarly quality properties. As I say 1000E in Frankfurt gets you a three bedroomed apartment in the city centre, five minutes from the equivalant of Grafton Street as far as shopping is concerned. In Dublin it gets you - if you are lucky - a one bedroomed box. But 1000E still equals 1000E

Look - whether you like it or not - in similar cities to Dublin with better transport connections and general facilities, I can get a one bedroomed apartment for less than half what it costs in Dublin.

We are not talking about executive apartments - your survey is irrelevant in this case. London is not a comparable city to Dublin either.

Cities with lower rents but higher yields serve only to show two things a) property is wildly overvalued in Ireland b) rents are still far too high in the city in particular sectors, namely one bedroomed apartments.

Incidentally, can I also add that our inflation is quite high, before you rabbit on about our incomes?

ronbyrne2005

I dont agree that rents are particularly expensive in Dublin compared to real (allowing for purchasing power) incomes and other cities. Rents in Dublin are the same in real terms as they were 5 years ago while the cost of a property has risen dramatically. I know loads of young grads renting and them all think rents are quite reasonable, especially if you share. You can get a nice 2 bed house close to city centre(dublin 9) for 1200-1400 a month which has lots of space even if one shares. Basically if you want to rent in city centre and your on a low wage you have to share.

Kipperhell

Relate transport costs and time to appartments and they can be really good value.
Comparing a 3 bed house to a 1 bed appartment is too simplistic.
Property prices realte directly to the employment opportunities close by.
Time is money but money doesn't buy time.
Rent can easily relate to the general time spent traveling. I'd rent better than I would buy due to costs.

spank_inferno

Rons right about the wages* and about the value.
The cost of renting though is on the up again (after a few years of stagnation) is much cheaper than the cost of the mortgage on the same property.
€900 - €1000pm is the going rate for a 1 bed in southern suburbs like dundrum too. It may seem bad value but its the prices people are willing to pay.


* I remember a while back the CSO said average industrial wage is 32000