Insane rent rates on property in Dublin!

PullMyFinger! · 07-03-2005 04:03PM #1

Just looking here at DAFT.ie and I would have thought with the student season winding down to find something a bit more reasonable but its still crazy! Has anyone found a bargain lately and where? 200 euros a week for somewhere I like says it all about the greed of landlords lately.

azezil · 07-03-2005 04:06PM

200 a week! where you trying to live, Blackrock in a penthouse appartment

I was looking at it earlier, some reasonable rates on double rooms, circa €350 a month, but about 5 - 7 miles from City Centre.

landser · 07-03-2005 04:07PM

try buying a gaff and paying a mortgage, which i hope to do in the next few weeks.

if anything rents have come down in the last couple of years.

in 2001/02, i was paying €1.69 psqm pm for a dingy flat in clontarf. now i'm pay €1 psqm pm for an architect designed house in killester, a mile away, and my rent hasn't increased since 2003.

PullMyFinger! · 07-03-2005 04:13PM

azezil wrote:

200 a week! where you trying to live, Blackrock in a penthouse appartment

I was looking at it earlier, some reasonable rates on double rooms, circa €350 a month, but about 5 - 7 miles from City Centre.

Must have been a bedsit!

Mohanned · 07-03-2005 04:15PM

In the blanch its not expensive

RuggieBear · 07-03-2005 04:17PM

i'm paying 950 to live in a one bedder in d2 :eek: .....i can walk everywhere and if i feel lazy my taxi is rarely over 6e.

Myself and girlie save a fortune in time and travel expenses...

PullMyFinger! · 07-03-2005 04:19PM

Mohanned wrote:

In the blanch its not expensive

http://www.daft.ie/searchrental.daft?s%5Bcc_id%5D=ct1&s%5Ba_id%5D%5B%5D=189&s%5Bmnp%5D=&s%5Bmxp%5D=&s%5Bbd_no%5D=1&s%5Bpt_id%5D=&s%5Bmove_in_date%5D=0&s%5Blease%5D=&s%5Bfurn%5D=1&search=Search+%BB&tab=1&s%5Bsearch_type%5D=area

My mate has pulled out of doing this with me (2 bedroom) hence the expense

PullMyFinger! · 07-03-2005 05:03PM

landser wrote:

try buying a gaff and paying a mortgage, which i hope to do in the next few weeks.

I know I'll have to do it eventually but does the thought of a 30 year loan hanging over your head scare the bejaysus out of anyone else?

azezil · 07-03-2005 05:04PM

Ah a place by yourself, well that's different... I'd be looking to share :P

seamus · 07-03-2005 05:06PM

€850 a month is what you pay for your privacy.

On the other hand, you could get a €200,000 loan and buy your own 1 bed apartment for €850 a month.

Sleipnir · 07-03-2005 05:08PM

PullMyFinger! wrote:

I know I'll have to do it eventually but does the thought of a 30 year loan hanging over your head scare the bejaysus out of anyone else?

Not when you remember that as a renter, you're paying off someone elses 30 year loan for them!

Velvet Vocals · 07-03-2005 05:22PM

RuggieBear wrote:

i'm paying 950 to live in a one bedder in d2 :eek: .....i can walk everywhere and if i feel lazy my taxi is rarely over 6e.

Myself and girlie save a fortune in time and travel expenses...

I pay 1000 to live in a beautiful two bedroom apartment in Dub3 - I can also walk anywhere, taxi's are about €8 - 10 and we have an excellent bus service that actually comes ever 10 minutes without fail.

RuggieBear · 07-03-2005 05:31PM

Saint Something wrote:

I pay 1000 to live in a beautiful two bedroom apartment in Dub3 - I can also walk anywhere, taxi's are about €8 - 10 and we have an excellent bus service that actually comes ever 10 minutes without fail.

Sweet!
tbh i reckon it is worth paying the premium to avoid commuting. i commuted from bray to dublin for over 14years on the Dart or bus....i just got sick of it (an hour each way every day) and being forced to crash at mates if i went out as the taxi would always be over £45 (if the ****er would take you).

Neuro · 07-03-2005 05:40PM

PullMyFinger! wrote:

200 euros a week for somewhere I like says it all about the greed of landlords lately.

I have just three words for you:

Supply and Demand.

Velvet Vocals · 07-03-2005 05:43PM

landser wrote:

try buying a gaff and paying a mortgage, which i hope to do in the next few weeks.

if anything rents have come down in the last couple of years.

in 2001/02, i was paying €1.69 psqm pm for a dingy flat in clontarf. now i'm pay €1 psqm pm for an architect designed house in killester, a mile away, and my rent hasn't increased since 2003.

I have to say, while that sounds great and everything, I'm really fine with paying rent. I look on it as a service, I pay money to someone and I get to live in a beautiful place. I don't have to worry about any house owner stuff because I'm not a house owner, if I want to move, it's no biggie, I just do it. Eventually I will buy of course, but I'm very,very fussy. I'm not going to buy just to get "my foot on the ladder" I'm so sick of people saying that to me. I just feel so much freer with no mortgage. I know it would be just be a case of renting the house/apartment out if I owned it and I wanted to up sticks for a while... but then someone else would be living in my space... know what I mean.
Nope, I think renting is great, I certainly don't consider it "dead money" That's another thing people keep saying. How could it be dead money, your paying to live somewhere, that's like saying that paying your bill after you stay in a hotel is dead money or paying a cleaner after they have cleaned your place is dead money. They're all just services we have to pay for..... anyway, that's my rant over and done with

PullMyFinger! · 07-03-2005 07:04PM

Neuro wrote:

I have just three words for you:

Supply and Demand.

or 3 more

Time to emigrate

D!ve^Bomb! · 07-03-2005 07:28PM

Saint Something wrote:

I have to say, while that sounds great and everything, I'm really fine with paying rent. I look on it as a service, I pay money to someone and I get to live in a beautiful place. I don't have to worry about any house owner stuff because I'm not a house owner, if I want to move, it's no biggie, I just do it. Eventually I will buy of course, but I'm very,very fussy. I'm not going to buy just to get "my foot on the ladder" I'm so sick of people saying that to me. I just feel so much freer with no mortgage. I know it would be just be a case of renting the house/apartment out if I owned it and I wanted to up sticks for a while... but then someone else would be living in my space... know what I mean.
Nope, I think renting is great, I certainly don't consider it "dead money" That's another thing people keep saying. How could it be dead money, your paying to live somewhere, that's like saying that paying your bill after you stay in a hotel is dead money or paying a cleaner after they have cleaned your place is dead money. They're all just services we have to pay for..... anyway, that's my rant over and done with

yeah but you're payin money to someone else, and at the end of the day you gain nothin from it, at least if you were payin a mortgage(basically payin rent on your own house) then at the least the house WILL be yours in the long run!

as far as i see it you're wastin your money at the moment..

by the by, how does one go about getting a loan of this size?? i heard the bank will give you 10 times what you earn but you have to pay 10% upfront?

is it too much for little old me to look into buying a house on my own? let's say a 250,000 house.. how much would that be per month?

lomb · 07-03-2005 07:46PM

D!ve^Bomb! wrote:

as far as i see it you're wastin your money at the moment..

u are not, u are getting the use of an asset, and in return u are paying rent. if u want to live there forever buy now, wheras if its a temporary gig, rent.

Sleepy · 07-03-2005 07:59PM

I'm sharing a place with 4 others in Foxrock for €287 a month, sure I've a small single room and once a month or so I'll have to wait to use the shower but I'm living with a really good bunch of people and having the craic with them and the rents cheap for Dublin so I'm laughin' really

Third_Echelon · 07-03-2005 08:55PM

Im paying 550 a month for a room in Temple Bar. I share the apartment with 2 others. I have a big enough bedroom with double bed etc

Living in the city centre is pretty handy for everything really. I get the bus to work (work in citywest, no way would i live there), cinemas, pubs, parks, gyms, shops etc are all really close.... I haven't got a taxi in months.....

Of course I wouldn't mind paying less rent, but i reckon if i was living in the suburbs that my other costs would go up, such as transport etc, so i think it balances out really in the long run.

I dont know how much longer ill live in the city centre, but for the meantime its fine for me. Maybe in a year or so I'll consider moving....

0utshined · 07-03-2005 10:23PM

PullMyFinger! wrote:

I know I'll have to do it eventually but does the thought of a 30 year loan hanging over your head scare the bejaysus out of anyone else?

It's kinda scary but consider that unless you can live rent free somewhere you'll have to pay rent/mortgage every month. For me the mortgage is the less scary option. YMMV.

Neuro · 08-03-2005 12:24AM

Saint Something wrote:

Nope, I think renting is great, I certainly don't consider it "dead money" That's another thing people keep saying. How could it be dead money, your paying to live somewhere, that's like saying that paying your bill after you stay in a hotel is dead money or paying a cleaner after they have cleaned your place is dead money. They're all just services we have to pay for..... anyway, that's my rant over and done with

Some people are very eager to enter the property market, regardless of the cost, so they can get a foot on the property ladder. Don't worry about spending so-called "dead money". In a few years time you will probably be able to retort with two words of your own: "negative equity".

jesus_thats_gre · 08-03-2005 12:29AM

Its great, pay a mortgage for 30 or 40 years and die within 5 or 10 years of having it paid off..

vibe666 · 08-03-2005 07:07PM

Neuro wrote:

"negative equity".

what do you think paying someone elses mortgage for them is? positive equity?

seriously though, if I'd been in a position to get a mortgage when i got here almost 3 years ago and bought a house for €200k back then, not only could I have paid 30k off my own mortgage instead of my landlords mortgage by now, but the property would have gained 15-20% in value, or possibly more depending on where i bought. how is that "negative equity"?

PullMyFinger! · 09-03-2005 06:35AM

Do rates usually come down in May when the students go back home to mammy? The amount of building going on in Dublin is incredible, surely we're due a drop in rates soon.

jesus_thats_gre · 09-03-2005 07:43AM

vibe666 wrote:

what do you think paying someone elses mortgage for them is? positive equity?

seriously though, if I'd been in a position to get a mortgage when i got here almost 3 years ago and bought a house for €200k back then, not only could I have paid 30k off my own mortgage instead of my landlords mortgage by now, but the property would have gained 15-20% in value, or possibly more depending on where i bought. how is that "negative equity"?

You are missing the point. the majority of financial analysts/commentators are speculating that the housing market is gonna drop off over the next few years.. It may not happen, but if it does, alot of people are going to be in difficult positions.. You are talking about the last 3 years but your mortgage would likely be over 30 years.. What is going to happen over those other 27 long years.. Anything..

On top of that, because property prices are ridiculously high and people are getting themselves into a stupid amount of debt, the market will likely take a turn for the worse.. It just isn't sustainable. If it doesn't go bad, it will just even out..

Third_Echelon · 09-03-2005 09:59AM

PullMyFinger! wrote:

Do rates usually come down in May when the students go back home to mammy? The amount of building going on in Dublin is incredible, surely we're due a drop in rates soon.

In one word. No.

They are building loads, because the demand is there for more and better accomodation. I can't see rents going down myself, perhaps staying the same... who knows.. there are lots of greedy landlords out there

lomb · 09-03-2005 10:27AM

jesus_thats_gre wrote:

You are missing the point. the majority of financial analysts/commentators are speculating that the housing market is gonna drop off over the next few years.. It may not happen, but if it does, alot of people are going to be in difficult positions.. You are talking about the last 3 years but your mortgage would likely be over 30 years.. What is going to happen over those other 27 long years.. Anything..

On top of that, because property prices are ridiculously high and people are getting themselves into a stupid amount of debt, the market will likely take a turn for the worse.. It just isn't sustainable. If it doesn't go bad, it will just even out..

I dont see how having 15 or 20 grands worth of negative equity is a problem, u are still going to be paying a mortgage, and if u suspect rates are going up fix it for 5 years. its best to buy as soon as possible but do buy a good property. ie dont buy an apartment in a suberb like clondalkin, buy a house. that sort of thing.

Boggle · 09-03-2005 10:31AM

I seriously don't know how ye can manage it in Dublandpaying such high rents. I'm renting a new appartment in Raheen (lk) and am paying only 200pm.

You are missing the point. the majority of financial analysts/commentators are speculating that the housing market is gonna drop off over the next few years.. It may not happen, but if it does, alot of people are going to be in difficult positions.. You are talking about the last 3 years but your mortgage would likely be over 30 years.. What is going to happen over those other 27 long years.. Anything..

This is a sticky issue - the amount of people that will find themselves up sh1t-creek if this happens is unfortunate but with the banks being put under pressure to limit lending (nations debts too high) coupled with the fact that supply is currently outstripping demand (if waht I hear is correct) then there's only one way it can go in the long run...

Peteee · 09-03-2005 01:13PM

I'm in blackrock (8 mins walk from work, priceless) payin 360 a month sharing with 6 other fellas, havin a fairly good craic. Rooms small, but all i use it for is computer, reading and sleeping.

MorningStar · 09-03-2005 01:52PM

The negative equity situation is a possibility but it has been a long time since a house in Dublin and probably Ireland just went into negative equity.

Anaylist have been saying for 10 years house prices will crash. I waited for 3 years before buying a house and saw my options disapear. I would probably have a house with 60%-70% if I had bought earlier. Current I have 23% so house prices need to drop that much before I go into negative equity.

While rent will be market driven mortgages are less sensitive to market forces. The rate can and will go up but that also effects rent. Rent will increase and mortgages effectively stay the same over time. If rent is 50% of your living expenses it will probably stay that way and by the time you retire your income will be less so your rent will be a higher protion of your income.

If I was 20 I don't think I'd worry about this stuff but if I was 30 I'd be nervous, 40 I'd be scared and 50 I'd sh*t myself and 60 you would be worried about what age you are going to work to and guessing till death

Insane rent rates on property in Dublin!

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