Rent Prices in Dublin

BraziliaNZ

Hi - may be in wrong forum sorry mods move me if needed.
Anyway I will be returning home next year after a couple of years abroad and I was just checking out daft.ie for shared places in Dublin. I used to pay 400 euro for a room in a 2bedroom flat, so it was 800 for the whole flat. The prices seem to have gone about 33% up from what I can see. There are people wanting 650e etc for rooms in Killester!! Jesus! I thought with the economy being in tatters (from what I'm reading) rent might come down? Are people upping the rent to try and meet their spiralling mortgage bills? No way am I renting at those prices, maybe I shouldn't go home at all...

Jet Black

Mine was at 950 a couple of years ago and has gone up to 1125 over four years. Thats for a two bedroom apartment. Some places would be 500+. Hopefully they will go down. Im guessing your in New Zeland or thereabouts, why would you want to come home?

AnonoBoy

Depends where you're renting really.

I'm paying 400 for decent sized room in a 3 bed house within 20 minutes walk of the city centre.

John Mason

i rent a double room in my 3 bed house 6 miles from the city centre for €400 a month, you will pay more money in an apartment then a house.

gurramok

Asking rents have come down since last year. This has been documented at www.irishpropertywatch.com for over a year.
As the supply is sky high, you can haggle to get a lower price on the asking price now.

BraziliaNZ wrote:

Are people upping the rent to try and meet their spiralling mortgage bills? No way am I renting at those prices, maybe I shouldn't go home at all...

Bang on. There are chancers out there who up their asking rent prices to meet 'mortgage repayments' when its supply and demand in the rental sector than affect price alone.

As the economy is in recession and will be for a good while yet, expect money\jobs to be tight as well as supply rising and that means rents have only one way to go, downwards.

Ishmael

I live in a 2 double-bedroom flat(pretty much brand new) on the northside of dublin and we pay 1200 a month, rent is not so bad because i'm sharing with 2 others. We moved in almost a year ago so i'm not really sure how the prices have changed since then but there was definately some cheaper places out there last year.

I'd say the prices in rent will drop over the coming years, it'll just take a little while for it to happen.

ian_m

Ishmael wrote: »

I live in a 2 double-bedroom flat(pretty much brand new) on the northside of dublin and we pay 1200 a month, rent is not so bad because i'm sharing with 2 others. We moved in almost a year ago so i'm not really sure how the prices have changed since then but there was definately some cheaper places out there last year.

I'd say the prices in rent will drop over the coming years, it'll just take a little while for it to happen.

Nothing regarding money falls for very long and generally continues an upward trend. Rents in Dublin may have dropped but will continue to rise in the long term.

Jay D

I'm smack in the city centre and 600pm.

barter though now I'm sure you'll win a little discount

gurramok

ian_m wrote: »

Nothing regarding money falls for very long and generally continues an upward trend. Rents in Dublin may have dropped but will continue to rise in the long term.

Based on what other than idle speculation?

If not here, bring your opinion to the Accommodation forum as i think your misleading posters that rents will rise unless your long term outlook is 70 yrs when we all be six feet under by then

yosser hughes

ian_m wrote: »

Nothing regarding money falls for very long and generally continues an upward trend. Rents in Dublin may have dropped but will continue to rise in the long term.

Really? Can you tell us what you are basing that on. The FACT is rents are dropping because of an oversupply. I agree with the poster who said you are misleading people. I wonder why you would do that?

BraziliaNZ

yosser hughes wrote: »

Really? Can you tell us what you are basing that on. The FACT is rents are dropping because of an oversupply. I agree with the poster who said you are misleading people. I wonder why you would do that?

Probably because he's renting out some tiny apartment for a small fortune!

BraziliaNZ

ok this sucks, will be home in a few months, was just looking at daft and all the rooms in share flats/houses in and around the city are all 650, 600, EVERYTHING decent is 500 plus, that's gone up like 20% since I left 2 years ago. 500 was expensive back then which is what i was paying but now that seems like a bargain?? What's going on?!?!

petethebrick

Nonsense -rents HAVE fallen. There are still lots of places advertised for 500+ but you can easily find a good room within walking distance of city centre for 350-400euro. Just spend a bit of time looking around.

ian_m

petethebrick wrote: »

There are still lots of places advertised for 500+ but you can easily find a good room within walking distance of city centre for 350-400euro.

If you want to live with 10 people or freakyfolk.

Rents may be coming down, a good room in a good house will cost more than 350 euros. Certainly.

Ste.phen

ian_m wrote: »

If you want to live with 10 people or freakyfolk.

Rents may be coming down, a good room in a good house will cost more than 350 euros. Certainly.

A good room in a good house *often* costs more than 350. It doesn't have to.

petethebrick

ian_m wrote: »

If you want to live with 10 people or freakyfolk.

Rents may be coming down, a good room in a good house will cost more than 350 euros. Certainly.

I just moved into a new house last week. In Drumcondra. Medium sized double room, sharing with 3 others - 350 per month. I had other options for a similiar price. Granted it's usually 400 now for a room with a double.....

nouveau_4.0

Ishmael wrote: »

I'd say the prices in rent will drop over the coming years, it'll just take a little while for it to happen.

ian_m wrote: »

Nothing regarding money falls for very long and generally continues an upward trend. Rents in Dublin may have dropped but will continue to rise in the long term.

gurramok wrote: »

Based on what other than idle speculation?

..

Degsy

I ****ing hate landlords.I particularly hate people who bough a second or third property as an investment and are now realising that its not all plain sailing when you're gouging people for money.

Wishbone Ash

Moved to A & P.

von Neumann

There are some quirks in the rental market for example
Tallaght / D24 is completely over priced
A magic floor under rents around the 800 euro mark.
I suspect a lot of this has to do with social welfare provision....that's just my best guess.

There is NO connection between price and value, so just keep shopping around.
I pay less than 350 and it a really nice place :-)

321654

ian_m wrote: »

Nothing regarding money falls for very long and generally continues an upward trend. Rents in Dublin may have dropped but will continue to rise in the long term.

I think you're right.
The rate of decrease is never ever anywhere near the rate of increase when ir comes to prices.
Rents, unfortunately, are no exception.

Just read the news today about house prices falling 11% in the last year. I thought it would be more than that. Its like petrol prices. Shoots up and falls slowly.

http://www.independent.ie/national-news/house-prices-slip-11pc-but-buyers-still-wary-1581734.html

astrofool

that's because it takes a 100% increase to match a 50% decrease

321654

astrofool wrote: »

that's because it takes a 100% increase to match a 50% decrease

Example of the slowness of decreases in rent. Downward price movements are lethargic compared to inceases.
Ask the ESB and Bord Gais

My own rent is €1000 pm.

Last Daft report said rent had fallen by about 3% (probably more now). So that makes it worth €970 according to dafts figures (which, looking around seem close enough).

Between march 2006 and march 2007 my rent went up €20% even with moving to the cheapest place i could find when the landlord decided to up the rent.

Thats a 20% increase in a year and only 3 or 4% drop in 18 months.

Prices are just not falling anywhere near as fast as they increased,

unless you are talking about **** holes that noone wants now -
like
http://www.daft.ie/searchrental.daft?search=Search+%BB&s[cc_id]=c1&s[a_id][0]=ga1&s[mnp]=&s[mxp]=&s[bd_no]=&s[pt_id]=3&s[move_in_date]=0&s[lease]=&s[furn]=0&s[search_type]=rental&s[transport]=&s[advanced]=&s[price_per_room]=&s[bedroom_number]=0&s[refreshmap]=1&limit=10&id=654576
or
http://www.daft.ie/searchrental.daft?search=Search+%BB&s[cc_id]=c1&s[a_id][0]=ga1&s[mnp]=&s[mxp]=&s[bd_no]=&s[pt_id]=3&s[move_in_date]=0&s[lease]=&s[furn]=0&s[search_type]=rental&s[transport]=&s[advanced]=&s[price_per_room]=&s[bedroom_number]=0&s[refreshmap]=1&limit=10&id=611531

bedsits will be decimated. overpriced and not legal anymore, and what about people renting sheds in their gardens too.

gurramok

I see what you mean

House prices tripled in the bubble.
Rents as we know are at the same level as 2002 for example. House prices are not there yet so they have alot more to fall to reach 2002 levels.

Obviously, rents will lag the decrease in house prices as they didn't triple in the bubble

After saying that, there is nothing stopping rents falling further in 2009, how much they fall is anyone's guess. I wouldn't be surprised if that fall is around 10%.

The_Conductor

gurramok wrote: »

I wouldn't be surprised if that fall is around 10%.

Why 10%? Why not 20 or indeed 30%?
Supply has shot through the roof- and is increasing, as a lot of Eastern Europeans return home to far better economic prospects than they can get here.......
At the end of the day- if landlords want to ensure occupancy- they have to reduce prices, and this hasn't really began to sink in as far as I can see......

gurramok

I see where your coming from.
The huge supply in the urban areas along with a serious recession on the cards with unemployment in double figures and factoring in immigrant & Irish emigration, it could be very nasty for the cannys out there.
10% would be a conservative figure, rather than the going rate