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I don't think rents are coming down

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  • 04-07-2009 9:19pm
    #1
    Stabshauptmann
    Registered Users Posts: 4,885 ✭✭✭


    Everyone says that rents are dropping left, right and centre, but I dont see it.

    I was hoping to find a double room in Ranalagh / Rathmines or an apartment in town. When I first came to Dublin these were 600eur per month, and nothing has changed.

    Is it a case that my memory is bad, or Im not looking hard enough?


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    #2
    ntlbell
    Registered Users Posts: 16,288 ✭✭✭✭ntlbell


    I'd say your not looking hard enough, remember "asking" rental's are not exact;y what's been agreed most people are haggling and getting 100/200e off depending.

    there is a huge supply and not the demand anymore don't be afraid to offer a lot less than what they're looking for if they're not willing to do buisness move on

    rental Report # 35 - 2,399 reductions, 230 increases

    Over the period 15th of March to the 12th of June there were 2,399 rent reductions.

    The average reduction was €140 per month.

    The average rent for all properties listed was €934 down 27% from €1,286 in May 2008.


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    #3
    oceanclub
    Registered Users Posts: 3,411 ✭✭✭oceanclub


    Stabshauptmann wrote: »
    Everyone says that rents are dropping left, right and centre, but I dont see it.

    I was hoping to find a double room in Ranalagh / Rathmines or an apartment in town. When I first came to Dublin these were 600eur per month, and nothing has changed.

    Is it a case that my memory is bad, or Im not looking hard enough?

    Well, I've seen for a fact that in the apartment block I just moved out of, identical apartments that were €1050 to €1150 are now going for €800-850.

    P.


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    #4
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    You need to haggle OP

    The days of viewing rooms and flats with 20 other people queing are over.

    The landlords and agents expect you to haggle so do it.
    Even if you don't get anything off, at least you tried and you can still paying the rent they were asking if you like the gaff.

    But at least try to haggle


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    #5
    Agent J
    Registered Users Posts: 1,909 ✭✭✭Agent J


    Stabshauptmann wrote: »
    Everyone says that rents are dropping left, right and centre, but I dont see it.

    I was hoping to find a double room in Ranalagh / Rathmines or an apartment in town. When I first came to Dublin these were 600eur per month, and nothing has changed.

    Is it a case that my memory is bad, or Im not looking hard enough?

    Both possibly.

    They are coming down. Remember a lot of places are still being adverstised and previous rates from landlords who either havent bothered to check the market rate or just plan old hopeful.


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    #6
    jimmycrackcorm
    Registered Users Posts: 14,339 ✭✭✭✭jimmycrackcorm


    Some areas retain better demand. People for example, who would have previously rented further out, now are looking closer to town.


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    #7
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    I'm renting in D4 and renting prices are still falling. I think this oversuppy is everywhere tbh.


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    #8
    herya
    Registered Users Posts: 1,571 ✭✭✭herya


    Stabshauptmann wrote: »
    Everyone says that rents are dropping left, right and centre, but I dont see it.

    They most certainly are. We negotiated a big decrease in our rent and we can see rents dropping like stones in our estate even if it's one of the best in our (good) area. You need to look harder, or maybe Ranelagh specifically is such a Student Central that the process is hindered by the crowds who want to live there.


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    #9
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    But it's the summer.
    And landlords would love to get a tenant on a 12 month lease
    Not a student who will leave every summer though they may have to settle for this.

    Remember this OP and use it to your advantage.


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    #10
    scubasteve
    Closed Accounts Posts: 111 ✭✭scubasteve


    ntlbell wrote: »
    most people are haggling and getting 100/200e off depending.


    rental Report # 35 - 2,399 reductions, 230 increases

    Over the period 15th of March to the 12th of June there were 2,399 rent reductions.

    The average reduction was €140 per month.

    The average rent for all properties listed was €934 down 27% from €1,286 in May 2008.


    What area and price are they getting €100-€200 reduction and what listings are your other figures taken from?


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    #11
    ntlbell
    Registered Users Posts: 16,288 ✭✭✭✭ntlbell


    scubasteve wrote: »
    What area and price are they getting €100-€200 reduction and what listings are your other figures taken from?

    The listing's are from Daft.

    The haggling is just my own info from friends/family who have moved in recent month's

    mostly south inner city.

    D2/4/6


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    #12
    scubasteve
    Closed Accounts Posts: 111 ✭✭scubasteve


    Cheers ntlbell. Im lo0king at places at the mo and it nice to know I can do a good bit of haggling


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