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Irish Residential Rents Drop 1.8% as Supply of Property Doubles

  • 20-08-2008 5:03pm
    #1
    jetski
    Registered Users, Registered Users 2 Posts: 820 ✭✭✭


    By Ian Guider
    Aug. 20 (Bloomberg) -- Irish residential rents fell 1.8 percent in the second quarter, the first year-on-year decline in four years, according to real-estate Web site Daft.
    Rents declined to an average 1,350 euros ($1,990) a month from about 1,375 euros in the year-earlier quarter, Daft said in a report today. Rental prices in Ireland's five main cities dropped 3.5 percent in the second quarter.
    Rental prices are falling as the supply of property increases. The total number of available properties rose to 15,000 as of the end of June, more than double the figure from a year earlier, Daft said.
    To contact the reporter on this story: Ian Guider in Dublin at iguider@bloomberg.net.

    http://www.bloomberg.com/apps/news?pid=20601102&sid=aSs7lZGbdilw&refer=uk


Comments

  • #2
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    And may it continue downward.

    Anything like lower rents helps lower the cost of living is a good thing imho.


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