Difference in rents between Dublin and West

CiniO

We all know rents has gone up crazy in Dublin area over last while.

I'm currently renting 3 bed house with garden, driveway for 3 car, all modern (built in 2006) for €440 per month in the small touristic town in Mayo. I've rented in this area since 2008, and between 2008 and 2013 I've had rent reduction of from €650 to €440, and it's keeping at €440 since then.

I've looked up, and it looks like one would need to fork out nearly €3,000 a month to rent something similar in Dublin region.
That's over 580% more expensive.

Looks like absolutely mental difference to me, considering it's all within the same country.

I know in general salaries in Dublin region are higher, and it's easier to find a job, but in the end of the day, minimum wage applies at the same level in both places, and surely person in Dublin is not going to earn as much more to cover for 580% difference in rent.

I'm also not sure if in other countries there are such big diffrences in rents between captial city and rural countryside.
I'm originally from Poland, and I think in there, you can rent an apartment in Warsaw maybe about 300% more expensive than same apartment in rural area. So difference is only half that in Ireland.


Looks like then this situation is not really sustainable.

Question is - what do you think it's going to happen?

Will more and more people be moving from Dublin down West causing increase in rents in the West and decrease of rents in Dublin.
Or will we see another property boom in Dublin area which will cause everyone to buy properties which will cause rents to come down in Dublin?

Or something else?

stampydmonkey

Demand >>>>>>> Supply = bat sh1t crazy market prices 😭

Wonzy

Left my job in Dublin for the exact same reason. 1400 rent for a house I was paying. Ridicolous.

Moved outside of Dublin and now paying 650 for gorgeous house and saving money for a mortgage and get a nice house for 100k

Best decision I ever made. No more traffic and having to leave for work an hour before hand because of traffic. My job is 10 minutes away now and can drive into work and barely any traffic. Also peace and quiet.

Money is only 5k less than I was on in Dublin but seems like of up 20k since I moved out of there.

Dublin is an expensive kip and love my quiet life in a decent enough size village. I don't know how Dublin people face that traffic every day!

thierry14

Wonzy wrote: »

Left my job in Dublin for the exact same reason. 1400 rent for a house I was paying. Ridicolous.

Moved outside of Dublin and now paying 650 for gorgeous house and saving money for a mortgage and get a nice house for 100k

Best decision I ever made. No more traffic and having to leave for work an hour before hand because of traffic. My job is 10 minutes away now and can drive into work and barely any traffic. Also peace and quiet.

Money is only 5k less than I was on in Dublin but seems like of up 20k since I moved out of there.

Dublin is an expensive kip and love my quiet life in a decent enough size village. I don't know how Dublin people face that traffic every day!

That's basically what I have done as well.

Paid 1275 rent a month for a 2 bed in D15 and have now bought a 4 bed house in Co.limerick for 115k

Took about 12k drop in salary but I have been able to buy without a mortgage, so should work out better.

Equivalent house in D15 is 300-350k with a 12k salary increase ( about 7k after tax)

Doesn't make sense live in Dub anymore unless you have decent money.

Gumbo

Compare average salary in Dublin to average salary in mayo.
Houses are easier to rent in the west due to people buying holiday homes and then renting them.

Living costs are much lower in mayo. Infrastructure in general in Dublin is better with greater access to the global market.

All generally speaking.

CiniO

kceire wrote: »

Compare average salary in Dublin to average salary in mayo.

I'm not sure where to find details like that, but I'd imagine there can't be more than 30-40% difference.
How does that compare with 500-600% difference in rent?

Houses are easier to rent in the west due to people buying holiday homes and then renting them.

As someone stated above - Supply vs demand is the reason for high prices in Dublin and low prices in the West. That's obvious enough.
But my question is what people think will happen as I don't believe it will stay like that for much longer.

Living costs are much lower in mayo.

Well, I would actually argue with that.
Except from cheaper rent (or cheaper properties to buy if someone's in the market) I can't see what else would be cheaper here.