Irish Property Market chat II - *read mod note post #1 before posting*

Dublin rents are still a lot higher than Limerick City.

3 Bed house in D2 and D4 is 3k a month, vs only 2k in Limerick City.

A one bed apartment in D2 costs the same as a 3 bed house in Limerick City.

The report does point out, as said plenty of times before, that the rent caps are ironically causing rent rises.

Ireland's share of new rental investment across the UK/IRE dropping from 15% to only 4% last year.

The rent caps need to go if we are ever going to build 50k homes per year.

There is no way 2/3 adults own their own home. That must include adults living with parents as well as the parents who own the home.

Nonetheless, FFG and selfish property owners who cheer on rising house prices and rents should not be the only ones benefitting from the property market - it is pretty clear that there are winners and losers but no in betweeners. Renters are getting royally screwed with poor security of tenure, terrible quality family rentals and of course the crazy prices.

Like a good car market, it should be possible for anyone to get something comfortable for themselves depending on their budget. I hope to see it crash hard, not that I am in Ireland anymore.

I could be wrong on this, but is there not some merit to this?

I thought the stat was that 65-70% of homes are owner occupied. Does that not ‘conceal’ 30th somethings living with parents as ‘living in owner occupied homes’?

Dublin rents are still a lot higher than Limerick City.

3 Bed house in D2 and D4 is 3k a month, vs only 2k in Limerick City.

A one bed apartment in D2 costs the same as a 3 bed house in Limerick City

The Daft national report must be wrong then. I understand that the Limerick figure may be distorted by the abysmal sample size of available properties, but i doubt the actual average asking rent price was calculated incorrectly.

At current local rental inflation, with regard to the gap between Limerick and Dublin. Limerick will have the most expensive rentals by year end

According to the latest Daft.ie Rental Report for Q2 2025, average rents in Irish cities and regions continued to rise, with Dublin at €2,583 (up 6.5% annually), Cork city at €2,241 (up 11.8%), Limerick city at €2,422 (up 14.9%), and Galway city at €2,295 (up 8.5%)

I think the headline figures are probably the average rental price of all property, with Limerick recording mostly larger properties and a small sample size as you say.

Galway, Cork and Dublin are all more expensive than Limerick, according to the DAFT report, when you compare like for like property types. 1 bed flats, 2 bed homes and so on.

The state should already be building retirement villages, infrastructure and amenities first and then gated communities for the houses.

Im sure plenty would avail if they're built near golf courses and had community tennis courts/gyms etc.

It would certainly give me a decision to make at retirement. Spain or Irish retirement village.

Id be retiring to Galicia so heat wont be an issue. If it is then the world will be goosed and my retirement plans will be the least of my worries.

They should absolutely, for multiple reasons. To reduce spending of tax payer euros on very expensive housing supports like HAP, to improve the quality of life for OAPs, and to help the housing market in general - imagine the amount of large houses that would free up if there was high quality, income:rent ratioed, housing communities for OAPs to move into it?

Its something that will have to happen given the combination of demographics, lack of private pensions, and decreasing homeownership rates too. The maths are quite clear on it, and inescapable. So it would make sense to start planning for, and trialing in small numbers, sooner rather than later.

But that sort of forward planning seems far beyond the capabilities of our governments in recent years. What will happen instead is nothing will happen until things reach a crisis point, and then wildly expensive to the tax payer temporary bandaid solutions will be used that don't solve the problem long term at all.

Only thing is if recent trends continue. We’re (generously) still 50 years from owner occupied houses being less than 50% of homes.

Also, one of the most high profile policies of the party which is BY FAR the most popular party amongst non-homeowners is to abolish the only (very meagre) tax we do have on property currently.

The state apparatus control what can be built where, service the sites, has the most undeveloped land in the EU, much of that land is utilised in sectors that require subsidisation to survive. Much of the property in our High density areas is underused or derelict.

As displayed by other often subsidised sectors, we have access to a worldwide Labour Market. We have never had so much money yet capital to build is still costed in the high teens%

Here is our current system, it would be extremely difficult to deliver less given the opportunities listed

The housing crisis is a choice

Not really.

1991 79%
2002 77%
2006 75%
2011 69%
2016 68%
2022 66%

So we have a clear very slowly meandering downward trend over 30+ years. There is one exception to that where the ownership rates dropped like a stone…when houses got really cheap.

Don't worry, it also piqued my curiosity when you stated it and did the boring digging as well (though ChatGPT helped to short cut it - owner occupied is what it relates to which does not tell the whole picture of course)!

But per my post a few above, it hasn’t accelerated. It’s slowed down due to the explosion in first time buyer numbers. Only down 3% in owner occupied homes in the last 11 years. The big drop was during the last housing downturn.
Sure if there was another global financial crisis it could lead to another big drop off like 07-11 I guess.

I’m less negative on the numbers. Big drop in net migration vs prior year. Hopefully a new trend.

78k population growth. At current household size of 2.74, we need 28k houses to keep pace with that which we’ll exceed. Obsolesce supposedly trending down too per recent publication.

Of course we’re told household size needs to drop but that’s slowing down too.

https://www.thejournal.ie/ireland-weather-7-6088008-Jun2023/

Nowhere is safe