Rent Prices are Crazy

Idbatterim

1450 a month is crazy,, especially when wages have been stagnant for the last 5 years.. It annoys me that in my appartment block half the units are empty as I am assuming they are owned by the bank and are not being released onto the market to drive up prices.. our rent has gone up 10% each year for the last 3 years,, this year we have to move out and find somewhere cheaper..

yeah they are gorgeous. I lived in them a few years back, moved out. Then a year or two later they were found to be in breach of fire regulations I think. So everyone had to move out. They rectified whatever was wrong with them and hence have just been released back to market. But also everything is now new in them, bedroom carpets, communal area flooring etc, even though they are only several years old. The 2 beds start at 1450 and go to 1650!

Santa Cruz

1400 to 1600 seems to be the norm for a 2 bed along the Green Luas. They are probably targeted at young professional, I.T., Law, Finance area where the jobs are. Other less well paying jobs and you can still get the flats in Rathmines

awec

emmabrighton wrote: »

How is anyone supposed to pay rent of 1450pm and save for a deposit on a house?

That's the question I have been asking myself all day since my landlord popped in last night to inform me that rent would be going up.

I am going to be stuck renting for the rest of my life at this rate!!!!!

We live in Leopardstown and our rent went up in the summer from 1200 to 1450.

Saving a deposit and renting at the same time is going to be incredibly difficult. Whenever our rent was raised I had a look at it seems that the going rate along the green luas really is 1400 and above.

The savings made in rent for moving elsewhere would be offset by the increased commute costs.

Unfortunately neither of us are from Dublin so we can't do what some people seem to do and move in with one set of parents for a period of time.

I don't see how rents are going to go down unless something drastically changes.

NGC999888

awec wrote: »

We live in Leopardstown and our rent went up in the summer from 1200 to 1450.

Saving a deposit and renting at the same time is going to be incredibly difficult. Whenever our rent was raised I had a look at it seems that the going rate along the green luas really is 1400 and above.

The savings made in rent for moving elsewhere would be offset by the increased commute costs.

Unfortunately neither of us are from Dublin so we can't do what some people seem to do and move in with one set of parents for a period of time.

I don't see how rents are going to go down unless something drastically changes.

We moved to double room in a house share in a ****ty area to save money for our deposit.
Worked out in the end.

NGC999888

awec wrote: »

We live in Leopardstown and our rent went up in the summer from 1200 to 1450.

Saving a deposit and renting at the same time is going to be incredibly difficult. Whenever our rent was raised I had a look at it seems that the going rate along the green luas really is 1400 and above.

The savings made in rent for moving elsewhere would be offset by the increased commute costs.

Unfortunately neither of us are from Dublin so we can't do what some people seem to do and move in with one set of parents for a period of time.

I don't see how rents are going to go down unless something drastically changes.

We moved to double room in a house share in a ****ty area to save money for our deposit.
Worked out in the end.
Doing that would allow you to save another €800 or more on top of what you are saving now.

The Spider

awec wrote: »

We live in Leopardstown and our rent went up in the summer from 1200 to 1450.

Saving a deposit and renting at the same time is going to be incredibly difficult. Whenever our rent was raised I had a look at it seems that the going rate along the green luas really is 1400 and above.

The savings made in rent for moving elsewhere would be offset by the increased commute costs.

Unfortunately neither of us are from Dublin so we can't do what some people seem to do and move in with one set of parents for a period of time.

I don't see how rents are going to go down unless something drastically changes.

They won't go down but you could go to a house share, or rent outside and commute in, I doubt commuting costs would equal the savings made

awec

The Spider wrote: »

They won't go down but you could go to a house share, or rent outside and commute in, I doubt commuting costs would equal the savings made

Ah it would, I've looked. But it's not really a big issue for us right now - we're in no panic or rush to buy, haven't even discussed it really.

I was really just relating to the other poster's situation.

jester77

Tar.Aldarion wrote: »

Just looking at renting flats in germany, Fecking 100m^2 apartments for low prices., depressingly good value compared to here. Stop it rent, go down!

Not in the main cities. A 100m^2 apt will cost at least 1200 cold here in Hamburg unless you live in an undesireable neighbourhood.

munchkin_utd

jester77 wrote: »

Not in the main cities. A 100m^2 apt will cost at least 1200 cold here in Hamburg unless you live in an undesireable neighbourhood.

same in Munich
http://www.immobilienscout24.de/Suche/S-8/Wohnung-Miete/Bayern/Muenchen/-/-/100,00-
(sorted by size so all the 100 sqm ones are listed at the start)
for more central areas youre looking at well over 1200 a month.

Probably slightly off topic to mention that on a €1200 a month rental you're also paying €2856 agency finders fee plus €3600 more on a deposit, and a month rent in advance adding to a cash outlay of €7656 on day 1, and on top you always need a flat worth of furniture (possibly including installing a kitchen!) - but it does illustrate that renting is not as cheap abroad as you'd think!

jester77

munchkin_utd wrote: »

same in Munich
http://www.immobilienscout24.de/Suche/S-8/Wohnung-Miete/Bayern/Muenchen/-/-/100,00-
(sorted by size so all the 100 sqm ones are listed at the start)
for more central areas youre looking at well over 1200 a month.

Probably slightly off topic to mention that on a €1200 a month rental you're also paying €2856 agency finders fee plus €3600 more on a deposit, and a month rent in advance adding to a cash outlay of €7656 on day 1, and on top you always need a flat worth of furniture (possibly including installing a kitchen!) - but it does illustrate that renting is not as cheap abroad as you'd think!

Plus that €1200 does not include the nebenkosten (bins, cable, maintenance of building, etc) which is another 200-300 a month on top of the €1200.

gaius c

NGC999888 wrote: »

We moved to double room in a house share in a ****ty area to save money for our deposit.
Worked out in the end.
Doing that would allow you to save another €800 or more on top of what you are saving now.

Not many houseshares will allow couples to take one room.

murphaph

jester77 wrote: »

Plus that €1200 does not include the nebenkosten (bins, cable, maintenance of building, etc) which is another 200-300 a month on top of the €1200.

Now now Jester, I won't have you and munchkin dispelling the myth than Germany is a tenants' utopia!

It does make me smile though when Irish tenants refer to Germany, not realising how much money a tenant generally forks out to even get a set of keys (to a flat without so much as a kitchen sink).

To be fair though, the Bestellerprinzip will soon apply (law already signed) to lettings, so the LL will have to pay any agent he may choose to use (expect agents to charge a fraction of what they do now).

quadrifoglio verde

murphaph wrote: »

Now now Jester, I won't have you and munchkin dispelling the myth than Germany is a tenants' utopia!

It does make me smile though when Irish tenants refer to Germany, not realising how much money a tenant generally forks out to even get a set of keys (to a flat without so much as a kitchen sink).

To be fair though, the Bestellerprinzip will soon apply (law already signed) to lettings, so the LL will have to pay any agent he may choose to use (expect agents to charge a fraction of what they do now).

I can't remember who it was, but it was one of the left TDs talking about the castleknocks two eviction saying if it was Germany it wouldn't have happened.
There was me thinking that's because they'd have been gone 9 months earlier in Germany.

shruikan2553

Thankfully Im in my final year of college. The quality of places in galway has been poor recently. Cant wait to buy my own place.

El_Dangeroso

shruikan2553 wrote: »

Thankfully Im in my final year of college. The quality of places in galway has been poor recently. Cant wait to buy my own place.

If you're buying your own place in Galway the choice is even worse.

murphaph

quadrifoglio verde wrote: »

I can't remember who it was, but it was one of the left TDs talking about the castleknocks two eviction saying if it was Germany it wouldn't have happened.
There was me thinking that's because they'd have been gone 9 months earlier in Germany.

Well in their particular case (because they were paying the agreed rent) I actually think they'd still be in situ if that was Germany as selling a property is not considered grounds to terminate a tenancy here...the buyer simply becomes the new LL. This generally means tenanted properties are worth less as they are inflexible from the buyer's perspective. A tenant can only be evicted here in the current owner or close family member needs the flat. A new owner must wait several years before he can even make such a claim.

This year however has seen new laws introduced here that make it easier to remove a non-paying tenant. At least there's some balance to the game here, the law at least tries to protect both sides. In Ireland it's just way too one sided.

L1011

The 'agreed rent' was vastly below the market rent and would have been hiked by at least 50% if not more had there been a functioning landlord in place.

TheBandicoot

Saw another comparison today from my Daft alerts:

http://www.daft.ie/lettings/shaws-lane-bath-avenue-ballsbridge-adj-sandymou-ballsbridge-dublin/1484871/?ea=1 - €1150 now

€975 on 14/12/12



At that time I tried to view it, but apparently it was let out before I got a chance.

Michael D Not Higgins

TheBandicoot wrote: »

Saw another comparison today from my Daft alerts:

http://www.daft.ie/lettings/shaws-lane-bath-avenue-ballsbridge-adj-sandymou-ballsbridge-dublin/1484871/?ea=1 - €1150 now

€975 on 14/12/12

Daft should really crack down on these. The whole re-uploading to avoid showing the price changes should not be allowed. We all know the prices are going up, but it would be helpful to see who's chancing their arm at gouging the desperate renter.

D3PO

Michael D Not Higgins wrote: »

Daft should really crack down on these. The whole re-uploading to avoid showing the price changes should not be allowed. We all know the prices are going up, but it would be helpful to see who's chancing their arm at gouging the desperate renter.

Its gone up 18% in 2 years. Whilst its above inflation I wouldnt call it gouging nor would 1150 for a 1 bed apt in Ballsbridge seem excessive.

L1011

Michael D Not Higgins wrote: »

Daft should really crack down on these. The whole re-uploading to avoid showing the price changes should not be allowed. We all know the prices are going up, but it would be helpful to see who's chancing their arm at gouging the desperate renter.

It appears to be a re-listing after the end of a tenancy, not a price hike while unlet; the previous date given is 21 months ago.

Michael D Not Higgins

I'm not saying this is an example of price gouging, just that daft has the facility to track the prices but is easily circumvented by the landlords.

TheBandicoot

From a data point of view, that would be cool- if basically every ad for the same address was tied together so you could see history of a price on a location. Don't think it possible though with Daft's current model.

TheBandicoot

Also seriously considering trying to get a viewing of that place tonight, but given that my monthly net pay seems to be €2800, €1150 might be too much. Also, social anxiety

Lux23

TheBandicoot wrote: »

From a data point of view, that would be cool- if basically every ad for the same address was tied together so you could see history of a price on a location. Don't think it possible though with Daft's current model.

Daft do that already.

On another note, I just got a text from a potential landlord asking me for a photo and what my bra size is.

I am glad, I'm a fully grown, scary woman and not some young and vulnerable student looking for somewhere to rent!!

TheBandicoot

They don't really do it historically- they use the asking prices, and calculate averages for areas and then compare historically using past averages - but they don't link any particular individual asking price back to a previous ad, since they don't have a mechanism for capturing that multiple ads relate to the same property.

Lux23

Well, it looks like they do that already. You can see when people up their prices and then drop them when they don't get any decent to take on the property.

TheBandicoot

The point was that is only if the landlord uses the same ad. Whereas in a case like this, where the landlord is putting the same property up in a different ad 2 years later, their system does not have a way to link the ads and extract a price change data point.

Yellowhill

Hi Lux23, just tried to send you a private message and got this back

'Lux23 has exceeded their stored private messages quota and cannot accept further messages until they clear some space.'

Michael D Not Higgins

Lux23 wrote: »

On another note, I just got a text from a potential landlord asking me for a photo and what my bra size is.

What in jaysus? Seriously?