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Rent Prices 2014?

Gal_Lad

I'm finally looking to return to Galway on a permanent basis after a torrid few years of employment uncertainty and moving around the country placement to placement.

I'm looking to rent a 2 bed apartment with parking hopefully within 30 minutes walk of Eyre Square/City Centre. I'm budgeting €700 on a 1 year minimum lease. I'm just wondering what the rental market is like in Galway at the moment. Is it like Dublin - being a landlords market?

I've been keeping an eye on Daft.ie but I take the prices there as only "asking prices".

Can anyone share their experiences with renting and negotiation in Galway during 2014 so it's possible to get a feel for the current rental trend?

Thanks.

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El_Dangeroso

Competition for rentals in Galway is fierce, at one point recently there were only 50 properties to rent in the city and subarbs.

The rents are not 'asking prices' they are the rent and if you are looking in a desirable area, they are rarely negotiable.

Unfortunately you and everyone else wants to live walking distance to town so this means supply is outstripped by demand in these areas.

€700 is not going to get you a decent 2 bed in walking distance in my experience, €800 would be the minimum. You may get a 2 bed in knocknacarra or ballybrit for that price, both are well served with a regular bus service, or you could cycle.

Gal_Lad

It looks like I'll have to review my budget so or move further out!

Looking at Daft currently there's up to 140 properties for rent under the city centre search only and then 320 properties when you include the suburbs.

Is there something I'm missing?

El_Dangeroso

Gal_Lad wrote: »

It looks like I'll have to review my budget so or move further out!

Looking at Daft currently there's up to 140 properties for rent under the city centre search only and then 320 properties when you include the suburbs.

Is there something I'm missing?

There's a lot more on offer now, but back in March it went as low as 50, there was a headline in the local paper about it.

Goofy

I moved back from the States in April and I found it very hard to find a decent place. After a few weeks looking I was lucky that a small 2 bed in Salthill came up for rent for €850 (1 year lease). I haven't looked at daft since (I don't want to depress myself in case prices have dropped) but id say a lot of the 140 properties on there now are crappy student houses that are empty for the summer. Its definitely a landlords market at the moment.

ErnieBert

Gal_Lad wrote: »

Is there something I'm missing?

Galway is a sought after place. People love to com here. That is reflected in the rent. If you look at places like Sligo or Limerick, which don't have the, dare I say, cool vibe, the rents rent on those 2 places are way below Galway.

Wompa1

Something's gotta give, I'd imagine the rent and home prices will fall in Galway within the next 5 years after the banks step it up with their foreclosures

shruikan2553

800 a month if you want to leave close to the city centre and there is no negotiations. At least in galway you want have people outbidding you on rent.

There are a lot of expensive crap places aimed at students so be careful what you take.

Gal_Lad

Thanks for the advice so far but I find it hard to believe there is no negotiation or wriggle room.

I see myself as a decent proposition. I'm full time employed and looking for a long term lease. Surely these are strongpoints, preferential to a landlord and could be used to negotiate a lower rent.

When you're saying there's no negotiation, is it like certain areas of Dublin where potential tenants are being asked to put in a rent proposal and then the landlord cherry picks the best/highest one???

shruikan2553

Gal_Lad wrote: »

Thanks for the advice so far but I find it hard to believe there is no negotiation or wriggle room.

I see myself as a decent proposition. I'm full time employed and looking for a long term lease. Surely these are strongpoints, preferential to a landlord and could be used to negotiate a lower rent.

They may consider it but will wait and see if someone else offers the advertised price which they would get unless the place isn't actually worth what they are looking for.

Gal_Lad wrote: »

When you're saying there's no negotiation, is it like certain areas of Dublin where potential tenants are being asked to put in a rent proposal and then the landlord cherry picks the best/highest one???

Ive never seen that happen, they ask for 800 and expect 800. If multiple people are looking at a place the first person to send the forms and deposit tends to get it.

El_Dangeroso

Gal_Lad wrote: »

Thanks for the advice so far but I find it hard to believe there is no negotiation or wriggle room.

I see myself as a decent proposition. I'm full time employed and looking for a long term lease. Surely these are strongpoints, preferential to a landlord and could be used to negotiate a lower rent.

Sorry but having a full time job and looking for a lease of 1 year or more isn't rare in a renter in Galway

It's not all students here.

When we found our place, there was a couple waiting after us to take it, we just got in there first. Maybe we're a bit picky about where we'd take (the kitchen had to be bigger than place where you could just microwave something with room for little else) but it took over a year to find somewhere we found to be acceptable within 20 mins walk of the city with parking.

Actually parking turned out to be the big limiter, if you don't need a parking space you have way more choice.

JohnCleary

Gal_Lad wrote: »

Thanks for the advice so far but I find it hard to believe there is no negotiation or wriggle room.

I see myself as a decent proposition. I'm full time employed and looking for a long term lease. Surely these are strongpoints, preferential to a landlord and could be used to negotiate a lower rent.

Sorry to burst your bubble, but you're nothing special.

Rent in Galway is chronic and definitely a landlords market. Plenty of places for rent right now in Galway, yes. Come back in 6 weeks and see how the numbers will have diminished (Students)

Gal_Lad

JohnCleary wrote: »

Sorry to burst your bubble, but you're nothing special

Are you speaking from experience? Landlord or Tenant? Or neither?

ArtyC

Gal_Lad wrote: »

Are you speaking from experience? Landlord or Tenant? Or neither?

Harsh but true- no shortage of renters with jobs taking a years lease I'm afraid. Just after moving and it's €800 for two

JohnCleary

Gal_Lad wrote: »

Are you speaking from experience?

Yes

deisedude

ArtyC wrote: »

Harsh but true- no shortage of renters with jobs taking a years lease I'm afraid. Just after moving and it's €800 for two

Same. Pretty much had to offer a deposit the moment i viewed my new place or we'd lose it