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Dublin: 9°C Wednesday 20 October 2021

This week's essential property news: Rental prices continue to spiral

Plus a wander into Reese Witherspoon’s rustic LA mansion.

breather-187919 Source: Unsplash

Big Movers

Ireland’s largest private landlord gets ahead of rent caps with €2,750-per-month units

Ireland’s largest private landlord, Ires Reit, will set a new benchmark for rents in south Dublin with its latest development in the capital. The apartments will be available from early July with prices starting from €1,925 per month for a one-bedroom property and rising to €2,750 for three-bedroom units.

Rent controls are ‘creating a two-tier system’ as prices hit all-time highs

Government-imposed controls are fuelling a two-tier rental market as the severe shortage of accommodation continues to push prices into uncharted territory. The latest rental report from property site Daft.ie shows that the average rent across the country hit €1,131 per month – up 13.4% in the year to March.

Savills has launched an Airbnb-style office booking site for Dublin

The Irish arm of property group Savills has rolled out an Airbnb-style subsidiary website for businesses to search for ‘flexible’ office spaces in Dublin. The service, which is called Workthere, was first launched in the UK in February. Dublin is the first city outside Britain to be featured on the site.

new houses 741_90501160 Source: sam boal

Under Construction

  • Irish Water says it is submitting a planning application to Fingal County Council to upgrade the existing sewer network serving Blanchardstown and surrounding areas. The €50 million plan will also see the networks improved in Kildare and in Mulhuddart and Castleknock in Dublin and Dunboyne, Clonee, Ashbourne and Ratoath in County Meath.
  • Fianna Fáil is suggesting that the government implement a programme to compulsorily purchase vacant property in order to help ease the housing crisis. The suggestion comes as new figures from Daft.ie show that there were just 3,084 properties available to rent nationwide, close to the record low from last year.
  • Plans to develop a €19 million visitors centre at the Hellfire Club have been defended by Coillte, who say it will “bring the Dublin mountains to life”. The flagship visitor facility has come in for criticism from some local groups who claim the development will damage the natural environment of the mountains.

Des Res

Her newest HBO show Big Little Lies has already gathered a cult following. Here we step inside Reese Witherspoon’s rustic mansion in Los Angeles to spend some time poolside and in her impressive library.

Source: Vogue/YouTube

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