Rents dropping

AndyWarhol

Now that the annual 'student rush' is over, I definitely think rents are on the way down. It's possible to get yourself setup within 30 mins of Dublin for less than €400 (house share) which represents good value for money for students/young professionals starting out alike.
And with all these new apartments going up everywhere there's more choice than ever. It seems it's definitely a renters' market.

Newshound

While they have dropped a tiny bit over the last few years (maybe €50 -70 per €1000) the rent dropping scenario thats i hear people talking about all the time is a myth. It seems to be something people say without checking the prices.
In the last year i think they have actually gone up by more than they dropped in the last 3 as far as i can tell.

Yes there are more apartments but there is massive immigration to Dublin too.

Andrew Duffy

Remember that rent staying the same for a year is an actual reduction by the rate of inflation in that year.
However, I agree that rents staying static is unlikely, on its own, to deter investment - investors have been getting dreadful returns on rental properties for years and haven't stopped buying.

dalk

Rents going up, rents going down, rents staying the same, inflation, questionable return on investment... whatever...

Nothing will deter a good portion of the Irish population from buying property for investment purposes... We are obsessed with it.

If we keep going at this rate Irish people will own a third of world property by 2045...

Gerry_J

Andy, rents have softened say 5 % or so is the past 18 months and now are staying static and in some instance starting to go back to their original levels. You will always get some bright spark who will try to get the rent down while looking at it, but the rule of thumb is unless the ads say open to offers the rents are rarely negotiable, but I guess its each to their own.

The Dublin, 1, 2, 3, 4, 6, 8, 7, 9 & 15 areas seem to be the main areas holding their own or increasing due to their popularity and ease of access to Dublin, and of course Dart / Luas access is important. However the Clonee, Navan, Swords, Bray areas have remained the same.

Regards Gerald D Jacob

MorningStar

Gerry_j is right in more or less right.
The general thing to consider is the people tend to want to rent places close to work as they want to at least have shorter commut times if renting. Anybody I know who rents or rented do not plan on buying in the same area. Mostly due to price in that area. Rent should not be considered on year to year basis it's a long term investment.
Buy a good property in a good area and you will always be able to rent it.

Tazz T

Rents have been slowly dropping in the Dublin area for the past four years, due to a rise in people buying for investment purposes and more building. I remember back in 2000 when you went to see a place to rent, you were normally behind another ten people who had been there a half an hour before you. It's nothing like that anymore.

It's a renters market. I'm currently renting a 2 bed penthouse in the centre of town for the same price as a two bed in Ringsend 5 years ago.