Rent prices

I was living abroad and returned home to Dublin and am absolutely sickened at the price of rent. I knew it was bad but it’s only now that I’m looking for my own rented accommodation that I see firsthand what people are being charged.

How are people supposed to live after rent and expenses are paid, nevermind save anything? How has this been allowed to happen? Is there any chance rent prices could decrease over time? It’s just shocking and totally unsustainable.

Bigbagofcans

Had you not checked prices on Daft before returning home? If I was living away I wouldn't be in a hurry to come home now.

Bigbagofcans

Bigbagofcans wrote: »

Had you not checked prices on Daft before returning home? If I was living away I wouldn't be in a hurry to come home now.

I’d had a look but like I said it’s only now that I’m really looking that I see how bad it is.

Bigbagofcans

I don't think rent prices will be decreasing any time soon unfortunately.

Princess Consuela Bananahammock

Out of interest, how much rent do you think would be a fair price?

TheValeyard

Princess Consuela Bananahammock wrote: »

Out of interest, how much rent do you think would be a fair price?

About tree fiddy

suicide_circus

Go back whence you came, son. This is no country for young men.

The_Kew_Tour

And it's not even gotten to the worst bit yet. Its going to keep rising.

If you are young try save few bob and you wont regret it come your 30s when and trying get on ladder. Otherwise you are going to be renting and wasting money for long time.

What really grinds my gears is people who say "well its still cheaper than renting in Paris or London"

This isn't Paris or London! It's Dublin. A moderately handsome city that's closer in size and type to a Northern English city like Sheffield or Newcastle.

Same with hotel prices. There was a guy on the radio recently, a representative of the hotel industry who denied there was gouging because "If you look at cities like Vienna and Milan, we're still not at those price points"

Jesus. It's like anyone with capital resources is just gouging all they can until the next economic crash. This is a worryingly dysfunctional situation.

Bigbagofcans

The_Kew_Tour wrote: »

And it's not even gotten to the worst bit yet. Its going to keep rising.

If you are young try save few bob and you wont regret it come your 30s when and trying get on ladder. Otherwise you are going to be renting and wasting money for long time.

How are people supposed to save money whilst paying ridiculously high rents?

ToddyDoody

I've said it before.

What you want is a caravan.

Cina

A Tyrant Named Miltiades! wrote: »

What really grinds my gears is people who say "well its still cheaper than renting in Paris or London"

This isn't Paris or London! It's Dublin. A moderately handsome city that's closer in size and type to a Northern English city like Sheffield or Newcastle.

Same with hotel prices. There was a guy on the radio recently, a representative of the hotel industry who denied there was gouging because "If you look at cities like Vienna and Milan, we're still not at those price points"

Jesus. It's like anyone with capital resources is just gouging all they can until the next economic crash. This is a worryingly dysfunctional situation.

I don't even think it's cheaper than renting in London, now, not with how crap the Sterling has gotten. And London is arguably cheaper to live in (food, utilities, booze) than Dublin now too.

Apartment/house prices are still way higher in London, though. But not rent.

m5ex9oqjawdg2i

1 bed shoebox in Dublin soco is about 1500. Insane. 2 beds going for 2K+. Only option for most people is to share, and that can be a nightmare.

Thelonious Monk

I can't understand how they fill all these hotels with the extortionate prices they charge. I'm sure dublin isn't a bad place to visit but its not Venice or Rome.

q85dw7osi4lebg

Deleted User wrote: »

I was living abroad and returned home to Dublin and am absolutely sickened at the price of rent. I knew it was bad but it’s only now that I’m looking for my own rented accommodation that I see firsthand what people are being charged.

How are people supposed to live after rent and expenses are paid, nevermind save anything? How has this been allowed to happen? Is there any chance rent prices could decrease over time? It’s just shocking and totally unsustainable.

Get a better job / salary.

Until then, don't live in Dublin, rent is a lot cheaper 1 hour + away.

The_Kew_Tour

Bigbagofcans wrote: »

How are people supposed to save money whilst paying ridiculously high rents?

I managed to do it when I was younger. Shopping sensible and not spending more then you can afford. It all adds up it really does. Getting a suitable place to rent at decent price is the hard but if course..not easy I know

Cina

Bigbagofcans wrote: »

How are people supposed to save money whilst paying ridiculously high rents?

Well, a lot of them can't, it's a vicious circle.

The worst thing is that getting a mortgage will likely not be possible for these people because of the (possibly rightly) strict rules and the fact that deposits will be so difficult to obtain, so they'll be stuck renting, where they can't save anything.

Our mortgage works out as around €1,150 on our apartment, including management fees etc. and if we were to actually rent our place it would probably cost us €2,000+, so our mortgage is actually way cheaper than rent would be! I just feel sorry for anyone who can't get into the same situation, really.

In your 20s you houseshare and save your deposit to put yourself in the best place possible to buy if and when the time comes.

sharing a 2 bed apartment or renting a 1 bed on your own was only ever done by folk who weren't shrewd with their cash. I moved up to Dublin in 2003 and rent was quite reasonable back then, most of my colleagues were in house shares.

The odd few went 1 bed apt but saving was a concept they didn't believe in.

m5ex9oqjawdg2i

The_Kew_Tour wrote: »

I managed to do it when I was younger. Shopping sensible and not spending more then you can afford. It all adds up it really does. Getting a suitable place to rent at decent price is the hard but if course..not easy I know

When you were younger... so nothing to do with the current state of affairs then. How is that in any way helpful? You could save money back when rent was cheaper, therefore people should be able to do it now...

dodderangler

Landlord hacked the price of our rent to another two hundred quid so 1600 I’m paying now.
It’s disgusting. I know people paying less than that on a feckin mortgage. At this rate it’ll keep going up and we’ll never afford to have our own house

Cina

Cina wrote: »

...........

Our mortgage works out as around €1,150 on our apartment, including management fees etc. and if we were to actually rent our place it would probably cost us €2,000+, so our mortgage is actually way cheaper than rent would be! I just feel sorry for anyone who can't get into the same situation, really.

Rent should be more expensive than a mortgage.
We got used to rents being on the floor during the recession, they are now looney expensive. In 10 years time they might (might not too, who knows) well be more reasonable.

Cina

Cina wrote: »

Well, a lot of them can't, it's a vicious circle.

The worst thing is that getting a mortgage will likely not be possible for these people because of the (possibly rightly) strict rules and the fact that deposits will be so difficult to obtain, so they'll be stuck renting, where they can't save anything.

Our mortgage works out as around €1,150 on our apartment, including management fees etc. and if we were to actually rent our place it would probably cost us €2,000+, so our mortgage is actually way cheaper than rent would be! I just feel sorry for anyone who can't get into the same situation, really.

Same. There are shared houses on my road where you could only rent two bedrooms for the price of my mortgage.

And who benefits from tenants' inability to save because of extortionate rents? Thats right, the same landlords and investment funds who own so much of the housing stock in this city.

There's only one thing to do. We're going to have to eat the rich.

The_Kew_Tour

Adilynn Teeny Volleyball wrote: »

When you were younger... so nothing to do with the current state of affairs then. How is that in any way helpful? You could save money back when rent was cheaper, therefore people should be able to do it now...

I lived in Dublin at a time when it was 50 viewing a place too.

It's the people finding it hard to get a place. I just tried to not spend what I could not afford. Getting out of Dublin to communte might be better options.

I have total sympathy for young people. I'm not that old myself. But I had to make few sacrifices and paid off now.

I understand its getting harder and harder but with a bit of luck.and sensible financial means its possible.

Of course I'm not talking for everyone, but so many are paying the prices so it's always going keep rising. People have got to make s stand

Cina

Augeo wrote: »

Rent should be more expensive than a mortgage.
We got used to rents being on the floor during the recession, they are now looney expensive. In 10 years time they might (might not too, who knows) well be more reasonable.

They really shouldn't.

There are numerous European cities where people basically rent their whole lives because it's cheaper than a mortgage and because they have better tenant rights.

Rent should always be cheaper than a mortgage. The whole point of renting is to be able to live cheaper while you save up to get a mortgage!

Osborne

Thelonious Monk wrote: »

I can't understand how they fill all these hotels with the extortionate prices they charge. I'm sure dublin isn't a bad place to visit but its not Venice or Rome.

You're thinking about it the wrong way. The Hotels are already full, hence them charging high rates. It's simply supply and demand.

Cina

Cina wrote: »

They really shouldn't.

There are numerous European cities where people basically rent their whole lives because it's cheaper than a mortgage and because they have better tenant rights...............

Cina wrote: »

Rent should always be cheaper than a mortgage. The whole point of renting is to be able to live cheaper while you save up to get a mortgage!

When you contradict yourself it's easy to see you are waffling total sh1t.

Reviews and Books Galore

@Paris Rent

Actually, rent is more expensive in Dublin than Paris 'P were more expensive than Tokyo as well, and pushing close to London tbh. A bedroom costs 1000 £ per month.

Also, somebody said get a better job if you want to rent. How much of a pay increase are you expecting? Its a little bit silly to just say change job since, unless you drastically change sector, it doesn't make much of a difference when half or more your salary is on rent.

Reviews and Books Galore

Osborne wrote: »

You're thinking about it the wrong way. The Hotels are already full, hence them charging high rates. It's simply supply and demand.

I imagine homelessness might help the hotels/hostels tbh. And refugees are a perfect time for all the empty hotels/hostels after the crash

Osborne

Reviews and Books Galore wrote: »

I imagine homelessness might help the hotels/hostels tbh. And refugees are a perfect time for all the empty hotels/hostels after the crash

Why are you replying to me with this?

m5ex9oqjawdg2i

Augeo wrote: »

Rent should be more expensive than a mortgage.
We got used to rents being on the floor during the recession, they are now looney expensive. In 10 years time they might (might not too, who knows) well be more reasonable.

Rent prices did not "bottom out", they normalized. Even still, during the recession rent prices where still high in places.

There's an obsession with owning a house in Ireland. It can make for a nice next egg etc, but it cripples peoples for years and years.

The_Kew_Tour

Dublins population is going rise by 1/3 in next 15-20 years..

Ireland population is going to increase as much in that time so things ain't going to improve really as people from abroad will be happy to pay those prices for short terms etc.

A lash of social housing being built would do wonders.
Cheaper then HAP payments over 20 years, takes HAP out of rental sector. Makes more rental properties available. Rents might fall.
Folks can save more then, so the biulders can still flog houses at a profit to private buyers.

Win win......... except no one wants loads of social housing built as they are afraid of the mistakes of the past repeating.

When there was little or no prob getting council house in the 70s and 80s most folk who wanted to but a home in "nicer" areas were able to. Loads of modest earners bought 4 bed semi ds that are now €600k + ish.

m5ex9oqjawdg2i

The_Kew_Tour wrote: »

Dublins population is going rise by 1/3 in next 15-20 years..

Ireland population is going to increase as much in that time so things ain't going to improve really as people from abroad will be happy to pay those prices for short terms etc.

That is absolutely false. There's far better cities in Europe to live in with much more reasonable rents.

yourdeadwright

7 years ago I rented a big enough two bed apartment for 1100 a month in a nice area of Dublin ,
I seen it online the other week for 2300 and its already gone,

Adilynn Teeny Volleyball

Adilynn Teeny Volleyball wrote: »

Rent prices did not "bottom out", they normalized. Even still, during the recession rent prices where still high in places.

...........

They didn't normalise, normal rent prices were seen pre 2008/2009, IMO.

Cina

Augeo wrote: »

When you contradict yourself it's easy to see you are waffling total sh1t.

I haven't contradicted myself at all. I merely stated that in some countries it's easy to rent your whole life if you don't want to get a mortgage. If you do want to get a mortgage, the point of renting is to be able to do so on a fee where you are able to save for it.

yourdeadwright

yourdeadwright wrote: »

7 years ago I rented a big enough two bed apartment for 1100 a month in a nice area of Dublin ..............

that's an example of rent prices being on the floor IMO.
Old rule of thumb, 15 times annual rent is the good price to buy.

€198k wouldn't have bought much nice 2 bed Dub apartment in normal market times

The_Kew_Tour

Adilynn Teeny Volleyball wrote: »

That is absolutely false. There's far better cities in Europe to live in with much more reasonable rents.

But yet so many are here........

Cina

Cina wrote: »

I haven't contradicted myself at all. I merely stated that in some countries it's easy to rent your whole life if you don't want to get a mortgage. If you do want to get a mortgage, the point of renting is to be able to do so on a fee where you are able to save for it.

You have 10/15 years to save a deposit if you start working at 23.
That allows one to take out a 30 year mortgage at 38.

Anyone bitching and moaning that rent prices are stoppng them saving a deposit is masking the reality that things haven't gone well for them in the savings dept, a bit of personal accountability goes a long way at times.

You rent to put a roof over your head. If you want to save as well as rent you rent in a location or situation to faciliate that. Househare etc etc. Many want to rent a nice place and not houseshare, grand, do that. Don't wonder why you don't have a deposit in 5 years time if your spend over €1000/month renting out of a net salary of under €3000/month.

Trigger Happy

yourdeadwright wrote: »

7 years ago I rented a big enough two bed apartment for 1100 a month in a nice area of Dublin ,
I seen it online the other week for 2300 and its already gone,

That’s mad! I just checked some of mine.
A 1 bed on the quays that I rented for €1100 in 2002 is now renting for €1800.
A 2 bed in Harcourt green that I rented for €1400 in 2005 is now renting for €2300 now.

The mortgage looks less crippling when compared to those.

Cina

Augeo wrote: »

You have 10/15 years to save a deposit if you start working at 23.
That allows one to take out a 30 year mortgage at 38.

Anyone bitching and moaning that rent prices are stoppng them saving a deposit is masking the reality that things haven't gone well for them in the savings dept, a bit of personal accountability goes a long way at times.

What 23 year old on a €30k salary paying €1,000 a month is going to be able to save the sort of money they'll need to get a mortgage?

I think you're the one talking pure waffle. You're completely out of touch with reality if you think it's so easy for someone to save for a mortgage.

Also, 38? You realize most people want a few kids by the time they're 38, right? Or should they abandon doing that too?

Cina

Augeo wrote: »

You rent to put a roof over your head. If you want to save as well as rent you rent in a location or situation to faciliate that. Househare etc etc. Many want to rent a nice place and not houseshare, grand, do that. Don't wonder why you don't have a deposit in 5 years time if your spend over €1000/month renting out of a net salary of under €3000/month.

A Net Salary of €3,000 a month = around €55k p/a. A very small percentage of young people in Dublin earn money like that.

Not sure what planet you're living on but it's not this one.

Cina

Cina wrote: »

What 23 year old on a €30k salary paying €1,000 a month is going to be able to save the sort of money they'll need to get a mortgage?

They should houseshare at 23, paying €1000 month on rent at that age is looney.

Cina wrote: »

I think you're the one talking pure waffle. You're completely out of touch with reality if you think it's so easy for someone to save for a mortgage.

Not really, I've houseshared, rented out my own place, lived at home, changed location and lived in my own place all in the last decade. I've first hand experince of all sides of the coin.

Cina wrote: »

Also, 38? You realize most people want a few kids by the time they're 38, right? Or should they abandon doing that too?

[/QUOTE]

38 is the extreme really, start saving at 23 and you should have a decent chunk saved at 30 . if sprogs are on the agenda so is a partner, they should be like minded ideally so they should also have a few quid for the deposit.

simple really.

The_Kew_Tour

Cina wrote: »

What 23 year old on a €30k salary paying €1,000 a month is going to be able to save the sort of money they'll need to get a mortgage?

I think you're the one talking pure waffle. You're completely out of touch with reality if you think it's so easy for someone to save for a mortgage.

Also, 38? You realize most people want a few kids by the time they're 38, right? Or should they abandon doing that too?

Then dont pay€1000

How about sharing for less. Any body paying that type of money is bonkers

Apiarist

Princess Consuela Bananahammock wrote: »

Out of interest, how much rent do you think would be a fair price?

Interesting question. A fair price would be different for different people. But suppose we had some kind of a balance in the housing supply, then I would think that the rent which roughly equals to payments on a 25-year mortgage can be seen as fair. Yes, such rent would not cover all LL's expenses if the mortgage needs to be paid on the rental property, but at the end of the mortgage term the LL owns the property and can recoup some costs after that.

JustMe,K

Try being a working parent (no benefits, no housing allowance) and little opportunity to save - even house sharing isn't really an option then.

I can't see a situation where rents will decrease unfortunately. Your options are limited to move somewhere cheaper, house share, commute for a ridiculous amount of time (I live and work in Dublin but it still takes 70-90 minutes to get to work each morning and the same to get home), or simply suck it up and pay it....or get yourself a sugar daddy.

Cina

Cina wrote: »

A Net Salary of €3,000 a month = around €55k p/a. A very small percentage of young people in Dublin earn money like that.

Not sure what planet you're living on but it's not this one.

And a small percentage of young people are paying €1000 month in rent too.

The_Kew_Tour

The_Kew_Tour wrote: »

Then dont pay€1000

How about sharing for less. Any body paying that type of money is bonkers

On the planet this lad lives on paying €1000 month rent seems to be the norm. No doubt after a year off travelling etc etc too.

Cina

The_Kew_Tour wrote: »

Then dont pay€1000

How about sharing for less. Any body paying that type of money is bonkers

I mean, a lot are paying not too far off it.

Don't you think it's a bit mad that a 23 year old with a full time job should be sharing a room in order to save money?

Look, there are obviously ways to save money, no doubt. I did it but I was fortunate with my renting situation and I managed to get out of rent before things really went to sh*te in Dublin, but people should be able to save money without having to make such insane sacrifices to do so, imo.

Franz Von Peppercorn II

Thelonious Monk wrote: »

I can't understand how they fill all these hotels with the extortionate prices they charge. I'm sure dublin isn't a bad place to visit but its not Venice or Rome.

Apparently only 20% of visitors stay in hotels.

Squidgy Black

Augeo wrote: »

And a small percentage of young people are paying €1000 month in rent too.

Most house shares are around 700-800 for a room in a house at the moment. If you can even find them.