The insane rising rental rates around Ireland, in particular Dublin

Donegal Dan · 12-05-2014 10:13PM #1

Im planning to permanently move down to the Big Shmoke around July and I think I might need a few vodkas after what Ive just read on Daft.

I have a budget of €800 a month and thought that would be enough for a one bed in the city centre. Far from it! I remember looking at Daft a year ago and €800-900 was enough for somewhere decent. Now you'd be lucky to get a nice shared apartment in town for less than €700!

So whats going on? I know these things are supply and demand and all that but arent the banks lending money for mortgages again?

Anyone else feeling frustrated with the apartment and house rental markets?

Gongoozler · 12-05-2014 10:17PM

Well of course you can get a share for less than that, a good bit less. But yeah apartment prices are gone up. Have been doing so for about a year now. Wish very very desperately I could afford my own place.

By the way, a place for 800 by yourself is still possible, not even that hard to come by, just won't get the quality you would've before. I've just seen a small studio out past Phibsboro for 700 a month!! Crazy.

jester77 · 12-05-2014 10:22PM

What's the square metre rate in a decent part of Dublin going at right now?

hfallada · 12-05-2014 10:24PM

Dublin is the center of the Irish economy. Other than a few companies in Galway and Cork. All major companies are head quarter in Dublin. Its the center of Government, Dublin also has a majority of colleges and english language schools(a massive and rapidly growing industry). A majority of job growth will be in Dublin for the foreseeable future. Plus Dublins population is still growing quite quickly.

A rent cap will destroy any potential supply. It has never worked in any city before. But yet a few politicians think its the solution. The solution is high rise. Although its unpopular in Ireland as Ballymun was a disaster. Plus it will destroy our non-existent skyline. But unless Dublin starts going upward, it wont be possible for everyone to have housing that is affordable on an average wage. In NYC, their city authority wants to build high-rise for middle income families. Most people would love to live in the city if it was affordable. There be less traffic if everyone didnt have to commute.

Donegal Dan · 12-05-2014 10:30PM

jester77 wrote: »

What's the square metre rate in a decent part of Dublin going at right now?

Im not sure what it is for the apartment/house market but I think read somewhere that Grafton Street still has the highest square metre rates in Europe!

aidoh · 12-05-2014 10:31PM

Prices in Galway are stinking at the moment too.

punisher5112 · 12-05-2014 10:35PM

Property tax is the main reason been used as some poor LL's need to add extra to rent to recoup but then ends up getting a little extra e.g. €300 property tax add €50 to rent this over 12 months equals €600.

Also this word they love to use is high demand and shortage of housing.

I find that excuse amazing with all the empty properties and even council properties boarded up.

How can Social Welfare/State keep paying huge rents to private LL's there has to be a cap put in place to stop this rental bubble which imho is seriously out of control just like the property bubble which is well on it's way from what I have seen.

I fully understand to a lot it is a business but also a lot of LL's that have become due to recession.

With the prices they are looking for has pushed me and the girlfriend out of Dublin.
Last year are rent was put up over €200 out of the blue and we both work full time and was just not possible.

I do hear people going on about why buy and just rent long term, Ireland is just not up to scratch like the rest of Europe as people keep saying.
The rents in other countries are not at the extremes as they are here and you don't have to worry about the LL taking back the property for themselves/family or putting up for sale.

It is sad to see hard working people been forced out and then the expectation of what others entitlements are as they have never worked a day in their life but have no worries about housing.

I also understand there are situations with RA and that been capped and rents rising but isn't it about time the Government says no to these huge rent bills.

Idbatterim · 12-05-2014 10:35PM

you will find somewhere for E800 as mentioned before though, a year or two you could have probably got a relatively decent one bed for it, now you are looking at a studio or moving a bit further out or taking somewhere crummy enough in the city centre...

Donegal Dan · 12-05-2014 10:35PM

aidoh wrote: »

Prices in Galway are stinking at the moment too.

What would €800 a month get you in Galway city these days? If the rates in Dublin keep going like this I might consider it!

aidoh · 12-05-2014 10:50PM

Donegal Dan wrote: »

What would €800 a month get you in Galway city these days? If the rates in Dublin keep going like this I might consider it!

A ****ty 'studio' attached to someones living room probably.
It's not as bad as Dublin, there are some nice places for around 700-800 a month but they seem to get snapped up fairly quick.

EyeSight · 12-05-2014 10:57PM

I recently put my apartment in Dublin up for rent on Daft and wow, the demand was extreme.
Within 2 minutes(no exaggeration at all) I had 6 messages requesting a viewing. At the end of the day I had about 50. Found a person to take it that evening. By the end of day 2 I had 50 more - not including 2 people were too persistent and kept harassing me. I couldn't wait to take the listing off. It was scary to see how desperate the market was.

Donegal Dan · 12-05-2014 10:59PM

EyeSight wrote: »

I recently put my apartment in Dublin up for rent on Daft and wow, the demand was extreme.

As a matter of interest, what part of Dublin is it located?

Olive8585 · 12-05-2014 11:00PM

Jaysus that is some rise. I was considering moving back but I may not now...pure insanity!

awec · 12-05-2014 11:04PM

Find someone to live with. If you're happy to live with someone else you'd get a good 2 bed and you'd be spending less than 800 on your portion of the rent.

I know some people like their solitude but for 800 you are looking at a dingy studio whereas you could get something good if you were willing to share.

smurgen · 12-05-2014 11:15PM

as if living in Dublin wasn't an unattractive enough proposition already!

EyeSight · 12-05-2014 11:24PM

Donegal Dan wrote: »

As a matter of interest, what part of Dublin is it located?

Georges Street. 800 a month for a 1 bedroom. It was nice

KungPao · 12-05-2014 11:59PM

It's mad to think there are people who live in council flats paying stupidly low/zero rent in places that are 10 second walks from Harcourt/Stephens green. Meanwhile people working hard and paying all sorts of taxes are struggling to find a decent place that's within an hours commute to work or city centre that doesn't cost an arm and a leg.

Whose idea was it to build 'social' housing in the best locations of the city!?

Olive8585 · 13-05-2014 12:00AM

KungPao wrote: »

It's mad to think there are people who live in council flats paying stupidly low/zero rent in places that are 10 second walks from Harcourt/Stephens green. Meanwhile people working hard and paying all sorts of taxes are struggling to find a decent place that's within an hours commute to work or city centre that doesn't cost an arm and a leg.

Whose idea was it to build 'social' housing in the best locations of the city!?

Try paying stupid amounts of rent to live IN a social housing block...that's what it's like in much of London!

mickydoomsux · 13-05-2014 12:21AM

KungPao wrote: »

Whose idea was it to build 'social' housing in the best locations of the city!?

Touchy-feely types who thought society would benefit from having people in social housing living beside people who are working 40+ hours a week to afford a mortgage that could get them evicted for non-payment.

That won't cause resentment and friction between people at all.

Not everyone should be able to get what other people have just because. The word "entitled" is one of the biggest problems this country has.

shruikan2553 · 13-05-2014 12:28AM

Donegal Dan wrote: »

What would €800 a month get you in Galway city these days? If the rates in Dublin keep going like this I might consider it!

For that I was living in a nice 2 bed place in the city center of Galway.

Smidge · 13-05-2014 12:47AM

mickydoomsux wrote: »

Touchy-feely types who thought society would benefit from having people in social housing living beside people who are working 40+ hours a week to afford a mortgage that could get them evicted for non-payment.

That won't cause resentment and friction between people at all.

Not everyone should be able to get what other people have just because. The word "entitled" is one of the biggest problems this country has.

I hate to point it out but the people in the "social housing" were probably living there waaaayyy before the places that the folks who are paying the mortgages ever were. And their families for generations before them. And a lot of them had their homes knocked down in order to build the homes of the mortgage payers and then were "re-housed" in flats etc.
It wasn't always desirable to live in the city centre but hey, now that it is lets turf all of those scrounging, entitled feckers out of their homes.
It'll make more space for "decent folk".

Smidge · 13-05-2014 12:52AM

KungPao wrote: »

It's mad to think there are people who live in council flats paying stupidly low/zero rent in places that are 10 second walks from Harcourt/Stephens green. Meanwhile people working hard and paying all sorts of taxes are struggling to find a decent place that's within an hours commute to work or city centre that doesn't cost an arm and a leg.

Whose idea was it to build 'social' housing in the best locations of the city!?

You are kidding?

Rasmus · 13-05-2014 12:53AM

EyeSight wrote: »

Georges Street. 800 a month for a 1 bedroom. It was nice

No wonder you had so many enquiries, that's a bargain.

FISMA · 13-05-2014 12:57AM

Donegal Dan wrote: »

So whats going on? I know these things are supply and demand and all that but arent the banks lending money for mortgages again?

Just about everyone in the world is devaluing their currency.

When they print more money, the value of the money decreases. Hence, it takes more of it, to purchase goods.

Usually, the last thing to go up is wages.

P_1 · 13-05-2014 01:05AM

hfallada wrote: »

Dublin is the center of the Irish economy. Other than a few companies in Galway and Cork. All major companies are head quarter in Dublin. Its the center of Government, Dublin also has a majority of colleges and english language schools(a massive and rapidly growing industry). A majority of job growth will be in Dublin for the foreseeable future. Plus Dublins population is still growing quite quickly.

A rent cap will destroy any potential supply. It has never worked in any city before. But yet a few politicians think its the solution. The solution is high rise. Although its unpopular in Ireland as Ballymun was a disaster. Plus it will destroy our non-existent skyline. But unless Dublin starts going upward, it wont be possible for everyone to have housing that is affordable on an average wage. In NYC, their city authority wants to build high-rise for middle income families. Most people would love to live in the city if it was affordable. There be less traffic if everyone didnt have to commute.

This +Infinity. What is really needed in Dublin is another Grand Canal Dock type development (this time with less shoeboxes with walls made of papier mache mind). Several well designed 6-7 story blocks of 3 bed apartments with decent balconies and facilities.

mickydoomsux · 13-05-2014 01:10AM

Smidge wrote: »

I hate to point it out but the people in the "social housing" were probably living there waaaayyy before the places that the folks who are paying the mortgages ever were. And their families for generations before them. And a lot of them had their homes knocked down in order to build the homes of the mortgage payers and then were "re-housed" in flats etc.

Quite possible but personally I know that in both of the green field newly built estates that me and my sister have moved into in the past few years we both have people in social housing living beside us as well as having 4 or 5 other social houses dotted throughout the estates.

These people basically got handed a house that the rest of us hand to go out and get a mortgage for. I'm sure that's fair in some peoples minds but it isn't in mine.

It's bizarre frankly.

Smidge · 13-05-2014 01:13AM

mickydoomsux wrote: »

Quite possible but personally I know that in both of the green field newly built estates that me and my sister have moved into in the past few years we both have people in social housing living beside us as well as having 4 or 5 other social houses dotted throughout the estates.

These people basically got handed a house that the rest of us hand to go out and get a mortgage for. I'm sure that's fair in some peoples minds but it isn't in mine.

It's bizarre frankly.

But we weren't talking about green field sites though.
My comment was directly about the city centre of Dublin in response to Kungpao's comment that you then quoted

everdead.ie · 13-05-2014 01:26AM

punisher5112 wrote: »

Property tax is the main reason been used as some poor LL's need to add extra to rent to recoup but then ends up getting a little extra e.g. €300 property tax add €50 to rent this over 12 months equals €600.

Also this word they love to use is high demand and shortage of housing.

I find that excuse amazing with all the empty properties and even council properties boarded up.

How can Social Welfare/State keep paying huge rents to private LL's there has to be a cap put in place to stop this rental bubble which imho is seriously out of control just like the property bubble which is well on it's way from what I have seen.

I fully understand to a lot it is a business but also a lot of LL's that have become due to recession.

With the prices they are looking for has pushed me and the girlfriend out of Dublin.
Last year are rent was put up over €200 out of the blue and we both work full time and was just not possible.

I do hear people going on about why buy and just rent long term, Ireland is just not up to scratch like the rest of Europe as people keep saying.
The rents in other countries are not at the extremes as they are here and you don't have to worry about the LL taking back the property for themselves/family or putting up for sale.

It is sad to see hard working people been forced out and then the expectation of what others entitlements are as they have never worked a day in their life but have no worries about housing.

I also understand there are situations with RA and that been capped and rents rising but isn't it about time the Government says no to these huge rent bills.

I was talking to someone who was telling me that a Landlords rent is counted as income and basically half of that increase will go in tax so 600 rent increase 300 goes to government in tax and then 300 goes to Government in property tax.

A simpler solution would be to do it like in England where the occupier pays the tax and that would be just 300 Anyone able to confirm that?

Lapin · 13-05-2014 01:44AM

Donegal Dan wrote: »

What would €800 a month get you in Galway city these days? If the rates in Dublin keep going like this I might consider it!

Like most places, it depends on the part of town. You'll do well to get anything decent in the city centre or west of the Corrib for that. But you might find somewhere nice on the east side of town.

BTW. Flat hunting in Galway is a nightmare from mid July to the end of August as the annual student influx kicks in.

The Galway Advertiser is the best local paper for accommodation listings. It comes out every Thursday. However, they release the accommodation listings in their office in Eyre Square every Wednesday. I think they charge a euro for it but it's well worth getting it to keep one step ahead of the crowd.

smurgen wrote: »

as if living in Dublin wasn't an unattractive enough proposition already!

Every bloody thread where Dublin is mentioned. :rolleyes:

This shít ceased being funny to most people a long time ago.

Give it a rest FFS.

syklops · 13-05-2014 01:46AM

everdead.ie wrote: »

I was talking to someone who was telling me that a Landlords rent is counted as income and basically half of that increase will go in tax so 600 rent increase 300 goes to government in tax and then 300 goes to Government in property tax.

A simpler solution would be to do it like in England where the occupier pays the tax and that would be just 300 Anyone able to confirm that?

Sounds like bollox to me. A 600 quid property tax is a feckin mansion.

Idbatterim · 13-05-2014 01:59AM

Several well designed 6-7 story blocks of 3 bed apartments with decent balconies and facilities.

Developments that were shelved, I expect will become feasible again pretty quickly. There should be minimum densities in core areas with good transport links. The standard of whats been thrown up in the docklands and the quality of the architecture is very poor in my opinion, its so conservative and all 5-6 story bog standard sh**te! you'd find better in other British cities a fraction the size!

The insane rising rental rates around Ireland, in particular Dublin

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