Dublin - Significant reduction in rents coming?

cgcsb · 11-01-2021 2:04pm

steddyeddy wrote: »

Here's an article from the BBC that highlights your excellent point further.

Dublin rents are a turn off for professionals. Why in the name of sweet Jesus should we care if there's less property investment, lower rents and increased foreign tech investment?

Some people (ironically people who themselves are part of the squeezed middle class) have been brainwashed into a FG/Thatcherite mantra of property speculators being benevolent gods requiring periodic sacrifices (usually in the form of wads of cash in ever growing rents and purchase prices and of course taxation funded schemes aimed at price inflation). But don't dare question this new religion, you'll be labelled a socialist or an economically illiterate shinner who wants to 'scare investors'.

Phat Cat · 11-01-2021 2:04pm

steddyeddy wrote: »

Here's an article from the BBC that highlights your excellent point further.

Dublin rents are a turn off for professionals. Why in the name of sweet Jesus should we care if there's less property investment, lower rents and increased foreign tech investment?

This was highlighted a few years ago, yet nothing has been done since then, in fact rents have increased, so things have actually gotten worse.

11-01-2021 2:11pm

steddyeddy wrote: »

You're saying that high rents isn't a factor in where people want to work?

I’m saying if a company wants to locate its offices in any city with low housing supply and high rents, they are going to have to accept that employees will have to pay those prices. The IDA cannot influence rental prices, perhaps your boss should have considered locating outside Dublin.

steddyeddy · 11-01-2021 2:11pm

Phat Cat wrote: »

This was highlighted a few years ago, yet nothing has been done since then, in fact rents have increased, so things have actually gotten worse.

Indeed they have. There's a reason why biotech companies are primarily in Cork and Galway. Dublin renting is set up for maximum profit for landlords coupled with an unsustainable rent to wage ratio for workers.

Most baffling of all is that there are landlords who are telling us that measures to make renting easier will somehow be bad for us.

steddyeddy · 11-01-2021 2:15pm

Dav010 wrote: »

I’m saying if a company wants to locate its offices in any city with low housing supply and high rents, they are going to have to accept that employees will have to pay those prices. The IDA cannot influence rental prices, perhaps your boss should have considered locating outside Dublin.

The IDA have a direct line to government as their primary role is to secure foreign investment. They can't reduce rents directly of course but they can state the reason that they will not invest in Ireland. No one who is a skilled worker has to accept paying Dublin prices. I wouldn't in a thousand years. Why should the country suffer due to one sector (rental) charge too much?

As stated previously biotech firms are primarily in Cork or Galway but these too are becoming unrealistic.

11-01-2021 2:23pm

steddyeddy wrote: »

The IDA have a direct line to government as their primary role is to secure foreign investment. They can't reduce rents directly of course but they can state the reason that they will not invest in Ireland. No one who is a skilled worker has to accept paying Dublin prices. I wouldn't in a thousand years. Why should the country suffer due to one sector (rental) charge too much?

As stated previously biotech firms are primarily in Cork or Galway but these too are becoming unrealistic.

Do you honestly think the Government doesn’t know that availability/cost of rentals impacts investments from abroad?

That does not however mean that the same Government can build 100k properties and become the States biggest private LL. Property building requires private investment, but you have to ask yourself, why when rents were so high were LLs leaving the sector?.

It seems that people want increased property numbers, increased competition which leads to lower rents, but want policies put in place which limit the investors profit, why would LLs invest in these circumstances?

steddyeddy · 11-01-2021 2:42pm

Dav010 wrote: »

That does not however mean that the same Government can build 100k properties and become the States biggest private LL. Property building requires private investment, but you have to ask yourself, why when rents were so high were LLs leaving the sector?.

You tell me Dav? There's always something that's left out in these type of discussions is the type of investment landlord's make in renting. That plays a huge part in potential profit. Buy to let, a landlord renting a room in their house and/or a landlord renting an owned property out are completely different in terms of profitability and/or expense.

Which types of landlords are leaving the market and why?

11-01-2021 2:46pm

steddyeddy wrote: »

..........There's a reason why biotech companies are primarily in Cork and Galway.................

MSD Swords, Pfizer, Takeda, Grifols Grange Castle, Alexion, West Pharma & BMS D15, Amgen Dun Laoghaire, Leo Pharma Kimmage etc etc etc all say hello

steddyeddy · 11-01-2021 2:51pm

Augeo wrote: »

MSD Swords, Pfizer, Takeda, Grifols Grange Castle, Alexion, West Pharma & BMS D15, Amgen Dun Laoghaire, Leo Pharma Kimmage etc etc etc all say hello

The difference between biotech and manufacturing plants says hello!

Timing belt · 11-01-2021 2:56pm

steddyeddy wrote: »

Investment in Dublin property is at an all time high. What's the benefit of attracting new entrants to the property market if it results in increasing rents and decreasing foreign investment in tech ect?

As long as there is a shortage in supply of residential property rents are going to be high. It takes time for properties to come on stream and in the mean time the government need to house people that require help and this makes the rental shortage worse and help to push up prices.

The Government can buy houses on the open market (Which they are doing) but this then shrinks the pool of housing and pushes the price of houses higher which in turn pushes rents up.

Until a time that there is sufficient or oversupply rents won't drop. Everyone gives out about the institutional investors in the market but they are providing supply. In the short term they will push up rents to max profits but in the long term they lead to lower rents as long as they continue to add supply and are not restricted from building or regulation. This is not a unique situation that Dublin finds its self in. Most big cities are experiencing similar since 2008.

The following link is a research paper on the topic
https://research.stlouisfed.org/wp/more/2020-047

11-01-2021 2:56pm

steddyeddy wrote: »

You tell me Dav? There's always something that's left out in these type of discussions is the type of investment landlord's make in renting. That plays a huge part in potential profit. Buy to let, a landlord renting a room in their house and/or a landlord renting an owned property out are completely different in terms of profitability and/or expense.

Which types of landlords are leaving the market and why?

RTB data shows numbers of tenancies and Landlords fell during a period when rents were at their highest. As licensee agreements are not tenancies, these would not be included in the data, I’m not sure what difference it makes whether a property is financed or not if they are deciding to leave a market when rents are high.

11-01-2021 2:58pm

steddyeddy wrote: »

The difference between biotech and manufacturing plants says hello!

Please elaborate.

what biotech sites in Cork and Galway aren't manufacturing plants? The med device plants in Cork and Galway aren't even biotech.

Pfizer Grange Castle isn't biotech?

AlanG · 11-01-2021 3:01pm

Phat Cat wrote: »

I realise that the whole of Dublin is pretty much a RPZ at this stage, but where does it stop? Are rents going to raise by 4% per annum until people simply can't afford to live anywhere half decent?

Unfortunately it will only stop when there is long term certainty in the legislation. A huge amount of landlords who didn't put up their rents after the last crash got screwed by the RPZ and are still charging way below market rents. Dropping the rent on a property could have implications for 10 or 15 years to come. If certain political parties have their way you won't be able to up rents, sell at market price or get rid of bad tenants.
its just wiser to sit on the property and keep it empty until Air BnB rentals come back in a few months.

steddyeddy · 11-01-2021 3:18pm

Augeo wrote: »

Please elaborate.

what biotech sites in Cork and Galway aren't manufacturing plants? The med device plants in Cork and Galway aren't even biotech.

Pfizer Grange Castle isn't biotech?

Grange castle is the exception as they do some R and D, however, the majority of sites in Dublin are manufacturing plants which don't necessarily involve high skilled labour. These places also pay significant cost of living bonuses to high skill workers in Dublin.

I previously stated that the majority of biotech is in Cork and Galway. The jobs there encompass significantly more R and D.

Of course med plants are biotech. A significant amount of med device engineering requires biofilm prevention. Galway is one of the leading places to work on that.

Also you're listing plants that were established in Dublin a long time ago. There is significant job losses in Dublin Pharma. For example Viatris generic medicines will be shutting down their Dublin plant with a loss of 400 jobs.

News that nearly 450 staff at a pharmaceutical company in north Dublin are to lose their jobs has been described as a “devastating blow” by Tánaiste and Minister for Business Leo Varadkar.

Trinity Biotech in Bray are reducing operations resulting in 70 job losses.

Novartis, a company which previously complained about high rents are also laying off 500 workers in Ireland and shrinking their operations.

AlanG · 11-01-2021 3:19pm

Genuine Question -

How would you decide between two people who want a particular house? How would you remove corruption from that system?

steddyeddy · 11-01-2021 3:24pm

Dav010 wrote: »

RTB data shows numbers of tenancies and Landlords fell during a period when rents were at their highest. As licensee agreements are not tenancies, these would not be included in the data, I’m not sure what difference it makes whether a property is financed or not if they are deciding to leave a market when rents are high.

And that's the problem. Many landlords don't seem to see their initial investment in the property as playing a part in the profitability of renting. Sometimes it's not always the government's fault if landlords can't make money. A lot of landlords I met seem to have profit expectations far in excess of their business acumen.

11-01-2021 3:24pm

steddyeddy wrote: »

Grange castle is the exception as they do some R and D, however, the majority of sites in Dublin are manufacturing plants which don't necessarily involve high skilled labour. These places also pay significant cost of living bonuses to high skill workers in Dublin.

I previously stated that the majority of biotech is in Cork and Galway. The jobs there encompass significantly more R and D.

Of course med plants are biotech. A significant amount of med device engineering requires biofilm prevention. Galway is one of the leading places to work on that.

Also you're listing plants that were established in Dublin a long time ago. There is significant job losses in Dublin Pharma. For example Viatris generic medicines will be shutting down their Dublin plant with a loss of 400 jobs.

Trinity Biotech in Bray are reducing operations resulting in 70 job losses.

Novartis, a company which previously complained about high rents are also laying off 500 workers in Ireland and shrinking their operations.

Ah now, you cannot claim that BioTech is just R&D. FFS that's ludicrous.

I listed Alexion, BMS and MSD Swords all of which are/were recent huge projects. Alexion was a greenfield site, BMS and MSD Swords brownfield but all are BioTech. The new jobs there are multiples of the losses you detail.

Novartis job losses are Cork. Trinity is in Bray, Bray isn't in Dublin......... you've listed one Dublin site that's closing.

Most of the med device plants in Cork are not biotech........ Medical Biotechnology. Medical biotechnology involves the use of living cells to develop technologies for the improvement of human health. ...,,,,,,, metal hips and kness aren't biotech.......

how many are employed in galway working on "A significant amount of med device engineering requires biofilm prevention. Galway is one of the leading places to work on that" ......... of course in R&D as you reckon that's where the jobs are

the biofilm is indeed biotech........... use that criteria to go through the places in Cork and Galway and come back to me.

steddyeddy · 11-01-2021 3:25pm

AlanG wrote: »

Genuine Question -

How would you decide between two people who want a particular house? How would you remove corruption from that system?

It's been a long time since I was in the Dublin rental system. Is there obvious corruption going on now? I'm in Germany and it seems much more regulated.

steddyeddy · 11-01-2021 3:33pm

Augeo wrote: »

Ah now, you cannot claim that BioTech is just R&D. FFS that's ludicrous.

I listed Alexion, BMS and MSD Swords all of which are/were recent huge projects. Alexion was a greenfield site, BMS and MSD Swords brownfield but all are BioTech. The new jobs there are multiples of the losses you detail.

Novartis job losses are Cork.

Most of the med device plants in Cork are not biotech........ Medical Biotechnology. Medical biotechnology involves the use of living cells to develop technologies for the improvement of human health. ...,,,,,,, metal hips and kness aren't biotech.......

how many are employed in galway working on "A significant amount of med device engineering requires biofilm prevention. Galway is one of the leading places to work on that" ......... of course in R&D as you reckon that's where the jobs are

No I'm not claiming biotech= R and D. I should have been clearer but biotech R and D is primarily high skilled. R and D is an extremely stable and indicative of serious investment.

Plant manufacture is extremely motile in biotech. It can and will move if the conditions (low tax) change. Plant manufacture is certainly in Ireland but it's cutting jobs and always cuts jobs in country's that aren't supportive. R and D centres are the equivalent of an industries base of operations. For example Roche are also closing down their plant and winding up operations in Ireland. It's

Medical device companies rely on extensive biotech to produce devices compatible with human health and resistant to pathogenic microbes. Of course there's a significant biotech element.

Well if you can't take job losses seriously then there's no convincing you.

11-01-2021 3:36pm

steddyeddy wrote: »

No I'm not claiming biotech= R and D. I should have been clearer but biotech R and D is primarily high skilled. R and D is an extremely stable and indicative of serious investment.

Plant manufacture is extremely motile in biotech. It can and will move if the conditions (low tax) change. Plant manufacture is certainly in Ireland but it's cutting jobs and always cuts jobs in country's that aren't supportive. R and D centres are the equivalent of an industries base of operations. For example Roche are also closing down their plant and winding up operations in Ireland. It's

Medical device companies rely on extensive biotech to produce devices compatible with human health and resistant to pathogenic microbes. Of course there's a significant biotech element.

Well if you can't take job losses seriously then there's no convincing you.

A biopharma plant that makes a drug that's injected into the bloodstream doesn't also require R&D.

What employers in Cork and Galway are the R&D centres you are claiming them to be?

You listed Bray and Cork as sites after mentioning Dublin "There is significant job losses in Dublin Pharma."

Relocating a med device plant is easy compared to a pharmaceutical plant. Have you ever seen a cleanroom that makes stents for example and have you even been in a pharma plant?

steddyeddy wrote: »

.................

Medical device companies rely on extensive biotech to produce devices compatible with human health and resistant to pathogenic microbes. Of course there's a significant biotech element. ...........

Orthopaedic implants are cobalt chrome or titanium. Large lumps of metal. There's not much of a biotech element going on there. A bit of science in the clean and pack admittedly.

steddyeddy · 11-01-2021 3:42pm

Augeo wrote: »

A biopharma plant that makes a drug that's injected into the bloodstream doesn't also require R&D.

What employers in Cork and Galway are the R&D centres you are claiming them to be?

You listed Bray and Cork as sites after mentioning Dublin "There is significant job losses in Dublin Pharma."

Relocating a med device plant is easy compared to a pharmaceutical plant. Have you ever seen a cleanroom that makes stents for example and have you even been in a pharma plant?

Yea I consider 450 jobs as significant.

News that nearly 450 staff at a pharmaceutical company in north Dublin are to lose their jobs has been described as a “devastating blow” by Tánaiste and Minister for Business Leo Varadkar.

Yes I operated as a biotech consultant for pharm plants in Ireland. Put your fingers in your ears all you want but high rents make a difference in attracting talent.

11-01-2021 3:44pm

steddyeddy wrote: »

.......

Yes I operated as a biotech consultant for pharm plants in Ireland. Put your fingers in your ears all you want but high rents make a difference in attracting talent.

So you won't detail What employers in Cork and Galway are the R&D centres you are claiming them to be?
Why not, because maybe you can't list any employer that has significant R&D here in biotech?

a biotech consultant, wow......... you could have been a lab tech on a fixed term contract and claim to have been a biotech consultant

High rents didn't bother Alexion, MSD or BMS in recent years.

limnam · 11-01-2021 3:51pm

Mr.S wrote: »

Short term, yes they’ll probably drop due to the non-existent demand.

Long term, after all this goes back to normal - we’re still going to have a supply issue and rent prices will climb again.

Let’s assume life goes back to normal in September, why would rent prices continue to drop massively? The “bounce back” would presumably be quick and strong.

While "life" might get back to normal there seems to be a huge amount of large companies not planning to go back to office full time.

This has shown many companies that remote working works and works well.

How many companies do this will definitely have a big impact on what returning to "normal" for the rental/property market is going to look like.

steddyeddy · 11-01-2021 3:56pm

a biotech consultant, wow......... you could have been a lab tech on a fixed term contract and claim to have been a biotech consultant

I was going to answer this but stopped here. I'm explaining to someone who misunderstands that medical devices involve biology that I work in biotech. That's when you know there's other things to focus on. Believe what you want about biotech.

High rents didn't bother Alexion, MSD or BMS in recent years.

No, not at all. Why would anyone mind high rents. It's a crazy thought. I actually prefer working in places with higher bills, rent and cost of living.

Even crazier is the fact that recruitment firms are stating that skilled workers are turning down jobs in Dublin due to price.

There has been a significant increase in foreign workers turning down the chance to relocate to Ireland for high-paid tech jobs.

That’s according to digital and tech recruitment firm Prosperity, which said the rejection rate for job offers in Ireland had doubled since last year – up from an average of 15% to nearly 30%.

The Dublin-based recruiter said that the main issue turning foreign workers off a career move to Ireland is the housing shortage.

Workers headhunted by the firm have cited “horror stories” about the Irish rental market as a big factor in their decision.

Instead of moving to Ireland, foreign talent is now opting to stay put or move to tech hubs such as Lisbon and Berlin – two cities which can offer a significantly cheaper cost of living than the Irish capital, according to Prosperity.

Tech workers in Lisbon might earn up to 15% less than they would in Dublin, but rental costs for an apartment in the Portuguese capital are dramatically lower.

It would be absolute stupidity to think that workers aren't happy coming here due to high rents.

11-01-2021 3:59pm

AlanG wrote: »

Genuine Question -

How would you decide between two people who want a particular house? How would you remove corruption from that system?

What do you mean by corruption? It is a landlord's prerogative to pick and choose who they want in their property, them favouring one party over another hardly qualifies as corruption, no matter how much you spin it.

11-01-2021 4:01pm

steddyeddy wrote: »

I was going to answer this but stopped here. I'm explaining to someone who misunderstands that medical devices involve biology that I work in biotech. That's when you know there's other things to focus on. Believe what you want about biotech.
...............

Again............. you won't detail What employers in Cork and Galway are the R&D centres you are claiming them to be?
Why not, because maybe you can't list any employer that has significant R&D here in biotech?

I queried you and you went on about how MSD, BMS, Amgen etc aren't Biotech but Pfizer GC are. You claim Galway and Cork have most of the BioTech gigs which are seemingly med device and R&D heavy but you won't name any of them.

You mentioned an oral dose manufacturing site in Dublin as a huge factor about the Dublin biotech industry and also mentioned Trinity BioTech in Bray and an API plant in Cork that isn't BioTech.

You are doing nothing but waffle.

You misunderstand that one can have thousands of folk working in BioTech without having any R&D on the sites.

I gave an example of orthopaedics where the biotech input is minimal. Thousands of Cork med device jobs are in orthopaedics.

steddyeddy wrote: »

............
I previously stated that the majority of biotech is in Cork and Galway. The jobs there encompass significantly more R and D. .............

List some please

steddyeddy · 11-01-2021 4:05pm

Augeo wrote: »

Again............. you won't detail What employers in Cork and Galway are the R&D centres you are claiming them to be?
Why not, because maybe you can't list any employer that has significant R&D here in biotech?

I queried you and you went on about how MSD, BMS, Amgen etc aren't Biotech but Pfizer GC are. You claim Galway and Cork have most of the BioTech gigs which are seemingly med device and R&D heavy but you won't name any of them.

You mentioned an oral dose manufacturing site in Dublin as a huge factor about the Dublin biotech industry and also mentioned Trinity BioTech in Bray and an API plant in Cork that isn't BioTech.

You are doing nothing but waffle.

Maybe I don't want engage with someone who doesn't understand biotech? Your posts comprise smileys, ...., ! and accusations that I'm lying. We also disagree on what biotech is. You also don't seem to consider 400 jobs being lost as significant. So we simply agree to disagree. There's no profit in my writing out posts to this sort of anger fuelled monologue.

11-01-2021 4:11pm

Augeo wrote: »

So you won't detail What employers in Cork and Galway are the R&D centres you are claiming them to be?
Why not, because maybe you can't list any employer that has significant R&D here in biotech?

a biotech consultant, wow......... you could have been a lab tech on a fixed term contract and claim to have been a biotech consultant

High rents didn't bother Alexion, MSD or BMS in recent years.

Even Silicon Valley is experiencing an exodus now due to high rents and general cost of living. COVID has really focused people's minds on this - after 9 months locked down in a tiny apartment paying a huge rent with possibly young kids, people are realising that there is more to life than a high salary.

rightmove · 11-01-2021 4:12pm

steddyeddy wrote: »

Which types of landlords are leaving the market and why?

alot - the rtb has the figures and I am one. Regulation in favour of renters only and no way to evict plus being caught at way below market rates.

11-01-2021 4:13pm

Deleted User wrote: »

Even Silicon Valley is experiencing an exodus now due to high rents and general cost of living. COVID has really focused people's minds on this - after 9 months locked down in a tiny apartment paying a huge rent with possibly young kids, people are realising that there is more to life than a high salary.

Of course.
The places I listed are not exactly located in Silicon Valley....... they aren't anywhere near the docklands etc

I was quoting someone who reckon Cork and Galway have most of the biotech jobs due to high rents in Dublin.
No detail on these jobs has been provided though.

steddyeddy · 11-01-2021 4:15pm

Deleted User wrote: »

Even Silicon Valley is experiencing an exodus now due to high rents and general cost of living. COVID has really focused people's minds on this - after 9 months locked down in a tiny apartment paying a huge rent with possibly young kids, people are realising that there is more to life than a high salary.

Indeed. We even have 30% of skilled foreign workers turning down jobs here due to high rents.

steddyeddy · 11-01-2021 4:17pm

rightmove wrote: »

alot - the rtb has the figures and I am one. Regulation in favour of renters only and no way to evict plus being caught at way below market rates.

I am fairly certain investment makes a huge difference in profitability.

11-01-2021 4:19pm

steddyeddy wrote: »

Maybe I don't want engage with someone who doesn't understand biotech? Your posts comprise smileys, ...., ! and accusations that I'm lying. We also disagree on what biotech is. You also don't seem to consider 400 jobs being lost as significant. So we simply agree to disagree. There's no profit in my writing out posts to this sort of anger fuelled monologue.

steddyeddy wrote: »

I previously stated that the majority of biotech is in Cork and Galway. The jobs there encompass significantly more R and D. .............

Or maybe you won't list them as you are a waffler and they don't exist.
You reckon MSD Swords, BMS and alexion D15 aren't biotech.

steddyeddy · 11-01-2021 4:27pm

Augeo wrote: »

Or maybe you won't list them as you are a waffler and they don't exist.

Jesus man maybe focus on something else or use Google. This is the internet. You're asking a guy who you think is a lab tech stuff you can Google.

Here's one.

Pfizer is to invest over €11 million in setting up an R&D Technology Laboratory at its Ringaskiddy site in Cork, Ireland, with support from the inward investment agency IDA Ireland.

The new laboratory, currently under construction, will be a dedicated R&D facility within the Process Development Centre at the site, to research, develop and create new manufacturing technology for Pfizer facilities around the world.

Here's two in Galway.

https://www.independent.ie/business/irish/us-firm-integer-plans-new-100m-facility-in-galway-39432097.html

https://www.galwaydaily.com/news/galway-pharma-company-signs-deal-to-advance-new-cancer-therapy/

steddyeddy · 11-01-2021 4:31pm

Augeo wrote: »

Or maybe you won't list them as you are a waffler and they don't exist.
You reckon MSD Swords, BMS and alexion D15 aren't biotech.

Every single one of your posts that you've typed directed at me undergoes two or three edits to include new information. Maybe relax when someone disagrees with you.

The fact is that foreign workers are being turned off from working here whether it's r and d, biotech, biomed and med bio. When you have an industry that imports talent such as r and d or tech then you'll suffer with high rents.

Digiteer · 11-01-2021 4:31pm

On the Daft website, there are around 4,000 properties to rent in Dublin City alone..!! There are also multiple developments in Dublin that are completely vacant..!!
Microsoft Campus in Sandyford has over 35% of tech staff from India, plenty of accommodation available for them in the area.!
Do not believe supply is an issue.!

11-01-2021 4:33pm

steddyeddy wrote: »

Jesus man maybe focus on something else or use Google. This is the internet. You're asking a guy who you think is a lab tech stuff you can Google.

Here's one.

Here's two in Galway.

https://www.independent.ie/business/irish/us-firm-integer-plans-new-100m-facility-in-galway-39432097.html

https://www.galwaydaily.com/news/galway-pharma-company-signs-deal-to-advance-new-cancer-therapy/

You said most of the biotech jobs in the country are in Cork and Galway.

Pfizer Cork is predominantly an API site, how many are employed in the R&D end of things?

One of the Galway links.... "The development, which is supported by IDA Ireland, is to consist of a two-storey building, comprising manufacturing floorspace of 10,610 sq m, with associated office floorspace of 2,445 sq m"

In your own words

steddyeddy wrote: »

The difference between biotech and manufacturing plants says hello!

...... so really how does this fit in with your view?

And with this one
https://www.galwaydaily.com/news/galway-pharma-company-signs-deal-to-advance-new-cancer-therapy/
Where's the jobs?

steddyeddy · 11-01-2021 4:34pm

Digiteer wrote: »

On the Daft website, there are around 4,000 properties to rent in Dublin City alone..!! There are also multiple developments in Dublin that are completely vacant..!!
Microsoft Campus in Sandyford has over 35% of tech staff from India, plenty of accommodation available for them in the area.!
Do not believe supply is an issue.!

I don't think supply is an issue as much as price. Workers in our firm rejected the possibility of living in Dublin primarily due to high rents. It's significantly easier to find rents if your working in tech or biotech as often the company will secure accommodation on your behalf.

steddyeddy · 11-01-2021 4:35pm

Augeo wrote: »

You said most of the biotech jobs in the country are in Cork and Galway.

Pfizer Cork is predominantly an API site, how many are employed in the R&D end of things?

One of the Galway links.... "The development, which is supported by IDA Ireland, is to consist of a two-storey building, comprising manufacturing floorspace of 10,610 sq m, with associated office floorspace of 2,445 sq m"

In your own words ...... so really how does this fit in with your view?

And with this one
https://www.galwaydaily.com/news/galway-pharma-company-signs-deal-to-advance-new-cancer-therapy/
Where's the jobs?

Start a new biotech thread somewhere and send me the link. This is a accommodation thread.

11-01-2021 4:38pm

steddyeddy wrote: »

Start a new biotech thread somewhere and send me the link. This is a accommodation thread.

Ah yes, white flag stuff.
Cheers.

Yoiu'd not have much business in a biotech thread IMO

steddyeddy · 11-01-2021 4:42pm

Augeo wrote: »

Ah yes, white flag stuff.
Cheers.

Yoiu'd not have much business in a biotech thread IMO

I supplied you with R and D in Galway and Cork now you're asking for numbers of workers in each. If I could magically give you that figure you'd change the question again. Every time I answer something you switch topic.

Timing belt · 11-01-2021 4:43pm

Augeo wrote: »

Ah yes, white flag stuff.
Cheers.

Yoiu'd not have much business in a biotech thread IMO

Enough Biotech chat..... can we get back to the rental market because I don't care whether the Biotech is in Dublin, Cork, Galway or out on the Aran islands

11-01-2021 4:43pm

steddyeddy wrote: »

I supplied you with R and D in Galway and Cork now you're asking for numbers of workers in each. If I could magically give you that figure you'd change the question again. Every time I answer something you switch topic.

You said most of the biotech jobs in Ireland were in Cork and Galway.
You've provided nothing to back that up.

Timing belt · 11-01-2021 4:45pm

Augeo wrote: »

You said most of the biotech jobs in Ireland were in Cork and Galway.
You've provided nothing to back that up.

Where are the Mod's hiding???

steddyeddy · 11-01-2021 4:46pm

I'm out of the biotech chat A as we disagree about what constitutes stable biotech investment. It adds nothing to the chat anyway.

Back to renting. Do people really not think that high rents will detract foreign investment?

11-01-2021 4:47pm

Timing belt wrote: »

Where are the Mod's hiding???

Demand is a huge part of the discussion.

Most biotech workers are allegedly in Cork or Galway and not Dublin.

steddyeddy · 11-01-2021 4:50pm

It's worth noting that the average pay of tech workers in the Docklands is ~127k a year and even then foreign workers are being put off moving here.

Timing belt · 11-01-2021 4:54pm

Augeo wrote: »

Demand is a huge part of the discussion.

Most biotech workers are allegedly in Cork or Galway and not Dublin.

Demand is important but you are arguing the toss at the moment and I doubt the outcome of your little spat will have any bearing on overall demand.... can you move the chat to some mad scientist forum so we can get back to discussing the rental market

11-01-2021 4:56pm

Timing belt wrote: »

Demand is important but you are arguing the toss at the moment and I doubt the outcome of your little spat will have any bearing on overall demand.... can you move the chat to some mad scientist forum so we can get back to discussing the rental market

I wasn't arguing the toss, complete rubbish was posted.......

steddyeddy wrote: »

........... There's a reason why biotech companies are primarily in Cork and Galway.....................

Graham · 11-01-2021 5:01pm

Mod Note

Augeo / Timing Belt / steddyeddy, knock it off.

Timing belt, most of the mods have careers so you can assume on-demand babysitting is not always an option. If you have an issue with a post, report it.

Do not reply to this post.

Dublin - Significant reduction in rents coming?

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