Quantities, not prices, are where the problems lie in the Irish rental market

Ronan Lyons, Economist

17th Nov 2015

Ronan Lyons, Daft's in-house economist, commenting on the latest Daft research on the Irish property market.

Economists are well known for talking in terms of supply and demand. But supply and demand are really only half the story – those of you who have taken a course in economics will probably remember that every supply and demand curve that meet produce a price and a quantity. Too often, we – economists, policymakers and the public – can get distracted by prices and forget to look at quantities.

This is, I think, crucial to understanding what is happening in the rental market in Ireland currently. There have been calls for controls on rents, or at least on rent increases, and they are well-intentioned: there are a number of households that cannot afford higher rents and thus they are at risk of becoming homeless in the coming months. Restricting the capacity for their rent to increase might help these households.

Map of Ireland

Unfortunately, it does nothing to address those already homeless or indeed to address the underlying problem in the market, which is not a prices problem, rather it is a quantities one. There are simply not enough properties in the rental market to meet the demand Irish households have. As many international commentators have asked, a natural response is: what happened to all those empty properties?

One issue is that we tended to think of our empty properties as a ghost estates problem. But of the 180,000 units identified in ghost estates, more than half had never even been started – they were just planning permissions on a page – while of the remainder, more than half were occupied. There were roughly 35,000 empty ghost estate units, and almost none in the urban centres.

A second, and related question often asked is: what about NAMA? While NAMA is incredibly opaque, it is relatively clear that the vast bulk of homes it controls which are fit for habitation are occupied. Think of it from their point of view: the best way to get a good price on a block of apartments is to show it can generate solid rental income.

Least Most Expensive

The answer to Ireland's housing shortage is not, therefore, looking to the past. It is about understanding the present and planning for the future. Currently, Ireland has a rapidly growing population by the standards of other developed countries. But very few new homes are being built, either for rent or to buy. In a country that needs at least 25,000 new homes – and realistically more like 40,000, allowing for obsolescence and declining family size – we have struggled to build more than 10,000 the last few years.

At this point, it is often said that Ireland lacks developers and lacks finance for development. While this may be true, a healthy market would attract developers and finance from abroad. And indeed many developers have looked at the Irish market, spotted the strong need for new homes and done some further investigation. But almost all of the foreign interest has ended up deciding against building, because the hard costs of construction are too high relative to people's incomes, and thus relative to sustainable rents.

For example, the best figures we have available suggest that to build a two-bedroom apartment and cover costs, excluding land, a rent of roughly €1,400 a month is needed to break even. However, there are very few markets in the country – three out of the 54 analysed in this report, to be precise, and all in central Dublin – where average rents for two-bedroom apartments are at or above €1,400 a month. The cost of construction would need to be roughly half what it is currently in order for it to be viable for either profit or social developers to consider building new homes at scale.

Mortgage VS Rent

All of this adds up to a large and growing problem. Every year where not enough is being built is another year where all sorts of costly emergency measures are needed in order to give people access to housing, something that should be a human right. Currently, as this latest report shows, there are just 4,000 homes on the rental market, the lowest numbers since figures began back in 2006. But that is 4,000 homes to cater for a renting population that is at least 50% bigger than ten years ago – and probably closer to double the size; we'll find out after the next Census in 2016 – and at a time when nothing is being built.

Capping rent increases is understandable. But it falls into the trap of thinking that prices are the problem and thus price controls are the solution. Prices are a signal and they have been signalling very strong demand for nearly four years now in Dublin – and for nearly two years elsewhere. If we are not seeing new supply being built, then we need to understand why costs are so high, rather than banning rent increases and hoping the problem goes away. While it may not be glamorous and it will certainly not be an overnight solution, the first step to tackling the lack of supply is a Government-sponsored benchmark of construction costs.

Discuss This Article

  • Re: The Daft Rental Report Q3 2015

    Posted By: Anonymous Poster Date: Tuesday November 17, 2015 @09:27AM

    Where are the limits for the rent increase, every year for the same apartment in rockbrook Sandyford 200e more, by living over 4years no option for negotiation, that\\\'s crazy :(

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Anonymous Poster Date: Tuesday December 29, 2015 @05:30PM

    Same here. Living in Dublin 1 and suffering rent increase around 10% during the last two years. This basically means 150eur plus pm each year. My salary doesn't increase that much landlords! It's unfair. We came here searching for a future and we're mainly paying your retirement. This is going again the same direction it was 10 years ago: heading for another bankrupt. Irish people doesn't learn from mistakes.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Laura Date: Tuesday June 21, 2016 @03:40PM

    We are looking to rent a property in Lucan, county Dublin, we rented the house we are in a year ago, a 4 bedroom house for £1475.

    The house is being sold so we are now looking for a new house to rent, and have just seen a property the same in the same close for £2200 a month how can a rent increase of £700 a month be allowed, there should surely be some type of cap on this.

    Renting is now a scary option, and unfortunately getting a mortguage as we found out this week you need to have a disposable income of £2000 after paying your mortguage and other costs, so even a family of 4 on £60,000 pa this is also impossible.

    There is going to be a real homeless problem in Ireland If this continues as people cannot meet these prices.

    Surely some legislation needs to be bought out about this.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Paula Date: Tuesday November 17, 2015 @12:38PM

    What is the difference between the Dublin year on year change table on page 8 and the Dublin year on year change on page 18. It is reporting different figures but I don’t understand why?

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Anonymous Poster Date: Tuesday November 17, 2015 @12:48PM

    The lack of accommodation in the rental market has been highlighted to the Government since they came into power and decided not to tackle the simple fact that the country needs more properties to be built in the urban areas of this state.Rent controls will only take more landlords and their properties off the market so more marginalised families will be made homeless

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Peter Date: Monday November 30, 2015 @03:28AM

    I fully concur with this comment the number of available properties to rent is declining at an alarming rate. A recent article in the independent reported that a huge number of buy to lets are being sold each month. The government despite what they say can not shore up the short fall is will take them 10 or more years to fix it

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Gavin Date: Tuesday November 17, 2015 @03:16PM

    Where are the rental figures taken from in Dublin? They all seem quite low? Try and find a 2 bed house in Dublin 18 for €1,262? Try and find a 2 bed house in Dublin 6 for €1, 417?

    I am a landlord with 3 properties and find these figures quite low for Dublin?

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: greedy landlord Date: Friday November 20, 2015 @09:32PM

    they seem quite low? compared to what? you greedy landlord like many others you want poor people to pay for your mortgage and make a huge profit on top? i hope you get bankrupt and then have to pay a quite low rent like you say

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Niall Date: Tuesday December 29, 2015 @01:30PM

    If your land lord goes bankrupt then you are homeless. It is not in anybody's interest for the landlord to go bankrupt.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Anonymous Poster Date: Thursday January 14, 2016 @12:39PM

    Its not greed, depending on when the house was purchased dictates whether the rent covers the mortgage or not. 80% of properties purchased since 2006 are rented out at loss. I rent one of them to social housing at a loss by choice. How's that for greed?
    Plus, thanks to rent control I am selling all three this year. If the government wishes to control rents then they should probably help with supply and not push the burden down to the private investor.
    Its not 'greedy landlords' pushing up prices, it s the complete lack of availability. Go live in North Korea or Iran. They have nice policies on capitalism and anti liberal markets that would suit you.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Are these figures correct? Date: Tuesday November 17, 2015 @04:19PM

    On page 15&16 of the report.
    I'm not sure if the figures are correct.
    It suggests that it is cheaper to buy than rent, but that cant be right.
    How much of a mortgage is being taken out?
    To buy a 3 bed in killarney will set you back 220-240.
    I think that its far cheaper to rent than to buy.

    Taking out a 30 year mortgage is not the norm. 20 would be more normal.

    I purchase a house 14 years ago at a cost of €850 pm for mortgage.I let it.
    My rent is currently €620 pm. I also have many bills such as insurance, property tax, repairs and maintenance costs and make a loss of €4,000 per year .Yet I have to pay tax at higher rate (50%). I was in negative equity till recently and was making a loss throughout. Would sell immediately but will hang on a little longer as house prices are starting to rise.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Anonymous Poster Date: Thursday December 10, 2015 @02:22PM

    You are not really making a loss of 4,000 per year. You are investing 4000 per year in the house. Between your investment and your tenants rent you are more then likely paying off upwards of 5,000 to 6,000 euro per year off your mortgage. This is not much help to you when property prices are falling but if they are rising its a different thing. your house could conceivably rise about 5 -6K a year from now on. so for every 4k invested you will be getting a 10k return. you will be a while getting back your original investment after the property crash but you have a sure fire winner from now on if you can meet the mortgage payments. So yeah sympathy for you in previous years with house prices falling and rents dropping but not much now.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Tired of the talk! Date: Tuesday November 17, 2015 @05:07PM

    And about time that they are rising. I have been wanting to move for 6 years but because banks were not lending I could not sell even though price was halved from peak. Also Nama sold off lots of appartrments cheap. It could have rented these out if it wanted. The house I sold in England to come home has gone up by a multiple of 4. So although Irish people love a good moan it's time to stop bashing houses. They cost money and labour to build (real labour - not paper pushing), unless of course you want to go back to living in straw houses. By the way all 2 bed appartments should be > 800 sq feet, and 3 beds > 1100 and 1 beds > 600sq feet. So eneough talk and let's get on with living!

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Anonymous Poster Date: Tuesday November 17, 2015 @06:02PM

    I hope crisis comes back to Ireland, because Landlords are the most greedy rude annoying people...they have to put a limit for rent...enough!! And they think they rent villas or palaces witht that money!! They rent you a hole for 500 and 600€...unbelievable prices for rents!!!

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Landlord Date: Thursday November 19, 2015 @12:08PM

    reply to @ anonymous. Tues 17th November :6:02 pm

    1. What Kind of mortgage would you get for €500-€600.About 100K. Don't think you could buy much for that!!!!

    2. Buy to let purchasers get mortgages @ 2%cheaper than buy to let .That makes house purchases far more expensive for landlords.

    Many landlords make a loss, so its not right to blaming landlords for your problems.
    If the Government had introduced tax credits for those who didn't raise rent,s this could have been far more beneficial to all. I predict a 20% plus rise over the coming 2 years.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Stressed to the max Date: Tuesday November 17, 2015 @10:14PM

    The government needs to do more as my landlord wants to raise my rent by 42% due to new laws of rent freeze for 2 years 😞

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Problems with Daft data Date: Wednesday November 18, 2015 @08:32AM

    There was a problem with some of the rental data, particularly for Dublin, in the Q2 report and it would appear that these problems still exist in the current report. Most of the rental cost estimates in the Q2 report were far lower than in the previous quarter reports and for 1 year earlier but the report still showed percentage increases. The cost estimates are still wrong in the current report. For example, the 'snapshot' shows that a 3 bed house in Dublin 14 rents on average for €1,588. Good luck finding that! It says that this is a 6% increase on a year earlier. This is about the rate of growth that has been seen. But the Q3 2014 report provided a rent cost estimate of €1,761 for a 3 bed in D14. Obviously something wrong as there is no way that rents in D14 have fallen by 10% in the past year . Daft were told about these problems when they published the Q2 report and provided some 'reason' for the lack of comparability but it made no sense. From what I can see, the percentage changes across a range of areas appear to be correct but the average cost estimates are definitely wrong compared to previous estimates and to what is happening in the market.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: David A Date: Wednesday November 18, 2015 @02:34PM

    "For example, the best figures we have available suggest that to build a two-bedroom apartment and cover costs, excluding land, a rent of roughly €1,400 a month is needed to break even. "

    Excluding the land? If your figure is correct, then what is the reason for Ireland having uniquely high construction costs?

    Rents in other European countries are lower and they manage to maintain sufficient supply, and Ireland is coming out of particularly high levels of unemployment within the construction sector meaning labour costs should be relatively competitive?

    Your point about the influence of "price" on supply is well made, but the answer that €1,400 minimum will be required doesn't seem to answer the important question - why should the Irish market be uniquely expensive for tenants?

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Anonymous Poster Date: Tuesday December 1, 2015 @09:04PM

    reason for high building cost: nobody in ireland wants to work for minimum wage or a little more of that, construction cost in other countries is lower because wages are lower and all the parts, bricks, wood, "paper-WALLS" are soooo expensive also because people who supply them also do not work for minimum wage, simple as that.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: A Date: Wednesday November 18, 2015 @11:11PM

    So tired of people talking about greedy landlords - some landlords are renting out a previous ppr that there was no point in selling due to huge losses yet have to pay up to 50% tax on the rent on top of the mortgage. I kept my rent well below market rate with no increase during a 4 year tenancy - we are not all greedy, most of us don't want to be landlords in negative equity with rental property costing us thousands per year.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Landlord Date: Friday November 20, 2015 @10:58AM

    I agree. We are not greedy and have a right to expect a return on our investment. The facts are, that many lords have being making losses for the past decade. Impossible to make any profit if you are on the higher tax rate of tax (you have to give the government 50% of some of your rent ) and have to pay an extra 2% (€4,000 extra on a €2,000 property) for a buy to let property.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: landlords should sell and leave the country Date: Friday November 20, 2015 @09:37PM

    you say you are not greedy, but you contradict yourself afterwards. is it not enough for you that tenants pay your mortgage and you get a free property or more after a few years? that is not enough you poor little "lord" ..l hope the situation goes the other way around and you get bankrupt like many others greedy "lords" already got busted and left ireland.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Keansey Date: Saturday November 21, 2015 @04:49PM

    Don't worry rents (outside dublin) will soon be coming back down again when the greedy 'lords' start to over do the rent increases. People will gradually realise it just isnt worth it, emmigrate repatriate or move in with parents or family: leaving the homes empty. and the lords with fantastic portfolios of vacant properties and high tax for the forseeable future. Seeing as there are in fact too many houses already built outside Dublin, this will only help the property asking prices to start getting realistic. Win win for buyers and tenants for a period looks likely, its just a shame we had to wait seven plus years for it.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Landlord Date: Sunday November 22, 2015 @11:15AM

    @landlords should sell and leave the country. There is no contradiction,you seem to a complete lack of understanding on ths issue. If it is so easy to mack such extraordinary profits over a few years why not buy rental property yourself. See how you enjoy making a continual loss and get taxed on your losses.Rents simply do not cover the cost buy to let mortgages and other associated costs.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Keynes again Date: Saturday November 21, 2015 @04:55PM

    No, you do not have a "right" to a return on your 'investment'. The main principle of investment is that value goes up and down. Investment is for people aware of the risks. Seriously, if you want to treat it as an investment rather than a paid service, that's fine, so your tenant gets screwed when the landlord wants to make an increase. But conversely when the tenant can look elsewhere and find better or cheaper accomodation elsewhere due to falling rents OR increased costs to landlord (which can mean landlords selling up and therefore more places available for tenants and with that, cheaper rents) the land lord has to deal with it. That's investment...

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Anonymous Poster Date: Sunday November 22, 2015 @11:31AM

    @ keynes. I think its right that landlords should expect a return on their investment. Of course there are risks involved.I think you would be more pleased if we incurred larger losses than we already do. I have seen a continual decline in rental income over past 8 years. Rates have been untouched by me in over 4 years and I continue to make losses.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: megafone Date: Sunday November 22, 2015 @08:35PM

    Do you not understand? Investment is fraught with risks. Do you know that most people who invest in the stock market lose money over time? Why does 'right' come in to it? The only thing that is accepted as a right in most western countries in the context of housing, is the right to a roof over your head.

    'Lords' were spoiled by the celtic tiger experience and it seems some still haven't learned their lesson.

    Still evolution favours those who can learn, adapt and think for themselves. Guess its goodbye to a lot of inept investors ...

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Helpful suggestion Date: Friday November 27, 2015 @06:54PM

    Don't think government interference has done too much to solve the problem. Would have been much better had incentives been offered to property owners, who have not/will not increase rents over a two year period - such as a €1,000 tax credit for rental income. This would help offset any potential losses due to not increasing rent and would have been far better. The facts are that many property owners have been renting properties which were not even covering the costs of the mortgage. Its a mess and will get worse.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: B Date: Friday November 20, 2015 @01:22PM

    I agree with "A". As a tenant I've been lucky of finding a very honest landlord. It is almost 4 year that we've been leaving in the same apartment, in the very city centre, and the rent has never been raised.It also true that our landlord has never had any kind of issue with us. But it is even more true that she is white fly in the swarm. I had many friends struggling with insane rent raising. Like 400Euro pm in one go.If this would happen to me, I would be in serious trouble. My salary does NOT increase so fast.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Sandyford Date: Friday November 20, 2015 @08:40PM

    Its insane that rent in Sandyford cost more than city center, especially for the dumps for those prices if i want to live in a house that looks like granny's i will stay with my real nana, landlords dont spend a penny! 4 years only thing i got was a toilet seat replaced and it was so hard to get!!!! But yeah each year i paid 600 euros more for rent??? Landlords lost money? When? Where? The conditions of rentals in Dublin are disgusting!! Irish really think that we live like pigs in mainland!!! I came from belgium and there my irish rent will give me a new detached 5 beds house!!! Here 2 beds and sharing the building with social housing!!! Wtf!! Where do you people got the idea of putting together social housing with standard living???? Of course landlords will ask high increase now so they will have high returns before the freeze!! Well done!! And in two years another mega increase to catch up for lost time!! Irish are really making sure foreigners leave all the cash here! If we were gone you will be all loosing your houses! Thefts!!!

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Annon Date: Sunday November 29, 2015 @04:47PM

    Please read an economics book on the basics of supply and demand. If you do not like how our country works please pack your bags and move into that 5 bed in Belgium.

    I used to get my haircut in this one barber, but everytime I went the barber (from Belgium) used to moan about the Irish weather.

    My point is, if you don't like our wonderful country please do not run your mouth so negatively and just politely leave. We won't miss you - promise.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: honest landlord Date: Friday November 20, 2015 @09:48PM

    The title of this report is not right at all. It advertises in fact the desire for continuous rent increase. Who funded your article if I may ask?

    And don't get me wrong I'm a landlord myself but I am not like many others. Compared to me, others decide to go with huge rent increases evey month and we as landlords can do this no problem. Some landlords give stupid reasons like they can't afford to keep the property anymore. These are lies, they know they can find a more desperate and richer tenant so they evict the previous one and so on.

    Your article says that there are not enough houses. There are many houses non occupied or for sale, but who can afford them? The purchase price is inflated and people cannot afford to escape the rent chain.

    I honestly suggest that you either start writing quality reports based on right facts and precise calculations.

    This report is only fueling the right of many landlords to increase rents and the solution is to decrease the rents a bit. This will allow people to save more money to buy a house, which should be priced correctly too.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Annie Date: Monday November 23, 2015 @11:35PM

    I am a landlord and I have just agreed to maintain the same rent with my tenant of 3 years for another 2 years going forward, so 5 years without an increase. I have also bought a new shower, washine machine, had the Windows treated and contributed towards painting the inside and putting down new carpet. She is a great tenant and we maintain a good relationship. The rent is below the other houses in the area. I think my tenant is worth it.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Tom Jones Date: Tuesday November 24, 2015 @09:32AM

    There seems to be a problem with your report. For example a 2bed in Sandyford, Rockbrook costs something between 1.700 and 1.800 eur. Similar to the beacon, The Grange, South Central, etc, so not sure how you got such a low figure for Dublin South. Any location where you can see, hear or 15 minutes walk from the Luas costs an absurd.

    I appreciate these building complexes are managed by investment funds looking for quick profit backed by those who are in control of the housing market in Dublin, but still an absurd.

    Private landlords is a mix. Some would keep the rents low to keep a tenant that pays the rent on time and those that don't knock the house, others are looking to make money and pay that ridiculous mortgage they got themselves into back in the days.

    It would have been nice to see some real predictions, in the report, as to what will happen if things continue as they are. Many non-irish professionals looked at Ireland as a good place to work and live for the last 4 years but I'm seeing things changing. People are coming to Ireland just to see 40% of their salaries going to taxes + another 30% to 40% going for rents + 20% to live and for other taxes. It is no longer an option to move to Ireland and I've seen many people leaving the country.

    According to the CSO there are about 220.000 non-irish people living in Ireland, about 80.000 left in recent years where 40.000 were non-Irish. Enterprise Ireland have been promoting Ireland as the best place for international companies to establish, but the government is not really making any efforts to help with housing is it?

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Tommy Dean Date: Thursday November 26, 2015 @11:22AM

    @Ronan Lyons or any fellow landlords know how many properties were listed to rent per quarter or in a year???

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Anonymous Poster Date: Tuesday December 8, 2015 @03:10PM

    The very people all you landlords are shunning, are the very ones who stooped your properties been repossessed by the banks, as they were the only stable rents during the banks crisis. Now you turn your back on them, because the market is good. Absentee landlords have aided in the great tragedies of the past. The Famine, now the homeless crisis, with you discriminating adverts of NO RENT ALLOWANCE. There was a day you landlords were only too welcome to take on rent subsidy payments.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Honest tenant Date: Friday December 11, 2015 @03:57PM

    As nearly every landlord will tell you they are an 'investor' and 'deserve' a return on their 'investment'. Shame they throw their toys out of the plan when investment rules (value of portfolio stock can go down as well as up) apply

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Nervous Tennant Date: Wednesday December 16, 2015 @05:37PM

    Maybe I overlooked it, but I didn't see anything here about the quality of rental properties. I live in a flat with holes in the floor and damp on the walls. I've been here for over ten years and the flat has passed inspection three times. I hadn't moved out because it was the best I could do. Last month I got notice of a rent increase which covers two years worth of increases. I'm currently on rent allowance and the increase puts me over the limit of what I'm allowed pay. A possible solution is to look at all the vacant buildings that could be converted into social housing, abandoned houses, old factories, warehouses, etc, surely these types of places could be converted into quality social housing at a fraction of the cost of building new apartments. Just a thought. Anyway, here's hoping I don't get evicted from my meager hovel before Christmas. If you're in a similar situation, I recommend going to threshold, they're going to try and help me sort this out.

    P.S. I'm in this situation because I messed up.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: martin Date: Saturday December 19, 2015 @01:02AM

    The real issue is not rents but price.No developer will build unless they will make a profit.

    There are many cheap properties in Ireland.The only thing is there might be a commute of may be one hour.Here in Australia that is nothing.If the central bank made money available for mortgages then the problem would soon be solved.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Cigar smoking Landlord Date: Saturday December 19, 2015 @11:37AM

    Yes, we should be giving grants to landlords and developers to encourage them to build houses in all areas and to raise rents so that more people can become successful landlords like me . The recession is over, lets start building houses again. I am a landlord and I consider myself a smart cookie. I want a return on my investment. Why do I have to pay for unemployed people?

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: Daisy Date: Tuesday February 2, 2016 @12:45AM

    No one has mentioned the extreme rates that students are expected to pay.

    The full university maintenance grant for students living over 45 km away is currently at 336pm.

    I am paying 425pm (which is extremely cheap compared to most places) in a 4 bedroom house (drimnagh) 25-30 minute bus drive from city centre. Most students, 20-30 year olds I know are living in disgusting conditions (think mould) or else paying crazy money. Anywhere nice or cycling distance is at 600+ pm how are students meant to afford this with full time study/commuting/food costs?

    However everywhere I go in Dublin I see run down and derelict buildings and old houses that could be very easily renovated into bedsits/shared student accommodation. Please can the government do this! Students and 20-30 year olds are more than happy to live in bedsits, renovated buildings if the rent is lower. Which then leads to 2-4 bedroom houses in more suburban areas being freed up for people wanting to settle down.

    The government is DRIVING young people out of the country with such high rents.

    Also these figures are incorrect, rent pm is much more than then figures stated.

    • Reply to this message
  • Re: The Daft Rental Report Q3 2015

    Posted By: N Date: Tuesday April 26, 2016 @02:42PM

    Income and expenses doesn't match at all which leads the people to be homeless.rent is ridiculous and not set according to the income of the person and it feels like paying to breathe.

    • Reply to this message

Respond to Article

Your Name: (Optional)

Subject:

Message:

We ask you to keep your comments on-topic and suitable for a general audience. The article you are commenting on is entitled: The Daft Rental Report Q3 2015

Please Note: Your message will not be displayed on the website until its contents have been checked by a member of staff.