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This map breaks down county-by county the fall in asking prices from the peak to April 2013. (Click here if you cannot see the image clearly)
THE COST OF renting continues to rise across the country with the biggest increase in Dublin according to new figures from the property website Daft.ie.
In its latest quarterly report on the rental market in Ireland, Daft.ie says that the average national rent is up 2.7 per cent from a year ago, confirming a third consecutive quarterly rise for the first time since 2007.
The rising rents are driven by prices in Dublin which are up 5 per cent in a year in stark contrast to just a 0.2 per cent rise outside of Dublin over the same period.
Daft.ie economist Ronan Lyons said the reasons for the widening gap between rents in Dublin compared to those across the rest of the country is a supply issue.
"The reason comes down to a lack of supply, and with less appetite for sprawl now than in the bubble years, the signs from Dublin are that new supply is needed," he said.
He pointed to rents having risen steadily in Dublin over the last two years which makes them 10 per cent higher in south County Dublin than in late 2010. This makes rent on average €77 per month more expensive.
Year-on-year changes in the average rental price in the country's five major cities are:
Daft.ie is part of the Distilled Media group. Journal Media Ltd has shareholders - Brian and Eamonn Fallon - in common with Distilled Media Group.
Read: Residential rents could rise by as much as 7 per cent by 2014
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And I suppose unemployment and low wages have nothing to do with it. How is someone earning minimum wage going to get a mortgage?
Maybe that’s the problem Rod, – if a person is on a minimum wage, why would they want a mortgage, surely it would make more financial sense to rent , and live within their means.
We had 19 year old minimum wage workers getting a mortgage on 400,000 Euro apartments during the madness, that should have thought us a lesson.
Please don’t think I am saying that minimum wage earners should only ever rent- I am not, I am simply (well hoping I do) saying that we shouldn’t repeat the mistakes and we should live within our limits and means.
Disclaimer- rents should be affordable for decent proper accommodation, there are of course exceptions to everything, and if you can afford it then everyone should be able to buy properly priced property.
Totally agree Mick it went far too much out of control
The governments pet areas, Cork city, Galway City, Mayo & Dublin are doing ok. The border counties & the South-East continue to be ignored for investment.
I am no expert at anything, in fact I am not allowed use the remote control at home, but bearing in mind this is a discussion and comment facility- I would love to know the opinion of the people who gave a thumbs down to me- I genuinely do, and it’s solely so I can hear both sides of the debate and learn from the opinion of others.
Would anyone agree that landlords are increasing their rents collectively because of the property tax which they shouldn’t be passing on to the tenant anyways? My landlord notified me that the rent is raising an extra €50 per month suspiciously around the same time he would have been notified of his property tax. The property tax is the property owner’s responsibility and according to threshold is not a cost that should be passed on to the tenant. Landlords are all raising their rents together at this time to adjust the market rates themselves and nothing can really be done about that. Currently in touch with PRTB and it seems to be a complaint they’re receiving a lot at this time.
Have to disagree with that on the basis that a property tax should be paid by the person living in the house,other wise were will it stop will water rates be the owner responsibility. If everyone had to pay this unfair tax then maybe it would be cheaper. And I don’t have a house let my a tenant. I believe it puts people of buying because renting a property the tenant has no maintenance issues.I’m sorry I every bought a house.
I’m sorry Tom but I have been told by both Threshold and the PRTB that the property tax should not be passed on to a tenant. We’ll agree to disagree but I trust them more :-)
Louise, are you under a lease agreement?
@Tom, haha, I’d disagree with your point. People, especially Landlords should pay their taxes, it’s a tax on the owner of the property, not the renter. Simple, if the landlord does not want to pay tax on an extra property, sell the property (and most likely make a substantial loss), but that is the risk people take when they buy more than one house. I don’t even own one house, why would I pay tax towards someone else’s property when I will never own it.
Property tax is there to (supposedly) pay for the local amenities which the residents in the property will be using. I would hold the view that the ones paying it should be the ones currently living there.
…and no, I’m not a landlord myself.
Yes over a year now. The property owners are supposedly not allowed to pass on the property tax to their tenants but it seems obvious that they are. It’s hard to prove that the reason for the increase in the rent asked of you is specifically because of the property tax (which is not allowed) because they are all increasing rent across Dub (and elsewhere) and will claim that it’s the market rate and not the property tax that caused the increase although they’re essentially in charge of the market rates by all increasing rents together and I find it hard to separate the two. The market rate has increased because of this tax (in my opinion and experience) which in itself is passing the tax unfairly on to tenants who don’t own the property and shouldn’t be covering the tax.
A rental property is a business. When a landlord decides the rate he is looking at the market rate and what it is costing him to ‘run’ the property. If taxes are service charges are applied to the property then of course you would expect them to be built into the rent paid by the tenant. When it comes to bin, water charges etc. it might be better if these are separate to the rent and paid by the tenant who gets the benefit of them.
€50 per month sounds like a big increase. Landlords know that good tenants are hard to find and best to keep the good ones if they can. Negotiate with him. If you move out he’ll easily lose 600 between all that’s involved with getting a new tenant in.
Thanks Brian, I’m glad I’m not the only one who thinks €50 a month (€600 a year) increase is huge! Rent has always been paid directly to account on time and sometimes even a day or two before it’s due and we keep the place in good condition and the condition has arguably even been improved considering I steam-cleaned the bedroom carpet because it was filthy when we moved in. However he has refused to meet us for a mediation organised with the PRTB and gets very defensive when property tax is mentioned. He’s being unreasonable and I feel that my boyfriend and I (his tenants) are just being professional in questioning the rent increase in which we are entitled to do. I would question any bill costing €50 a month more. It goes to show that he doesn’t care how good we were as tenants and that he’s just being greedy and wants more rent. I am looking for elsewhere but as I said in an earlier post, daft is disappointing lately but I’m hoping something decent for a fair price comes up! I’m doomed :-)
Tom whether the Landlord or the Tennant pays the tax it not going to make it cheaper !!!
The responsibility for the LPT is borne by the property owner who must declare a liable person for filing purposes. Increases are usually only justified annually by inflation. The LPT has been applied to every residential property in the country with very few exceptions, this would include almost the entire rental property market. When a significant cost is broadly applied to a market there is only one way prices will go. Landlords are not conspiring to rise rents, the market is.
If the Troika introduced a tax on being a tenant tomorrow and of course declared this would have no bearing on the tenants responsibility to the landlord, rents would begin to fall by the weekend.
Yeah but when the landlord will sell the house the fact that amenities and services are present in the area will increase the value of property, also landlords are making a huge profit on rental properties. Most landlords spend very little in maintaining their properties to a decent, healthy and safe living standard. I think rental prices should be reviewed in terms of value for money and tenants should get together under a proper coordinated tenant union that also offers legal support. Furthermore, the government should start enforcing tenancy laws and introducing a National Habitability Test. Here we replaced british landlords with Irish ones who have the same attitude towards tenants. It’s like they’re doing us a favour!
Yes, it’s one big conspiracy. All Dublin landlords meet secretly in the Wicklow mountains to set the rents. Those of us absentee landlords are represented through proxies. Also, all wear KKK hoods to protect the identity.
” also landlords are making a huge profit on rental properties”
What’s your basis for this assertion? You’ve picked the wrong target there. “inflation” may be low, but government interference in the market is a big factor. You may have noticed the bank situation in the country, and the additional taxes and charges being created by the government, along with artificial restriction of supply (NAMA).
Young people who aren’t emigrating seem to end up in Dublin so demand is huge there. It’s where most of the (very few) jobs are.
all lies from daft to promote their product. Rent prices are not rising in Dublin!
http://www.irishexaminer.com/breakingnews/ireland/rents-down-in-dublin-up-elsewhere-593747.html
Massive demand in Dublin at the moment, I rented a 2 bed flat last week for a client, the ad was live for a week and had 2000 hits, 40 email enquiries and a further 20 tel/ text enquiries.
Tenants traditionally moved at 18-20 months are now staying 3-4 years. Rents are being driven by new taxes and lack of options for FTB’s; without finance and supply of new stock demand will remain.
It must have been a lovely flat and yes the decent places do go quick. However I have searched daft every day for the last two months now and some of the places advertised are disgraceful in appearance/it’s mod cons and the price being asked for it. I cannot fully accept that the increase in rent is simply due to supply and demand -the property tax is being passed on to the tenant unfairly. Also I have noticed with daft that there have been properties to rent up there since I first started looking and they are just being constantly renewed or updated (with an added sentence such as “excellent location”) to be put back to the top of the list and to make it look like it has got a lot of interest because of the amount of views it has received in a supposedly short amount of time but on closer inspection it has been on daft for months but just constantly renewed. I have viewed many properties on daft only to be shocked at the cheek of the price they’re looking for when scrolling through the pics. I don’t doubt that if it was a nice looking flat that you did receive a huge number of emails etc. Supply and demand for the decent-looking flats/apartments to live in in Dublin is a problem but the property tax is, I believe, more of an issue for the rising rents right now. Just my opinion :-/
In fairness, one would expect the property tax to be built into rental prices as it’s an overhead just like any business would.
I don’t think that the rise in demand is unexpected – it’s as you would expect. People will gravitate towards where the jobs and services are. This was never going to happen in rural Ireland no matter how much money you throw at it.
However, it would seem to me that there is still a lot of empty housing/apartment stock in the Dublin area and I wonder what’s stopping this going on the market?
Theres also cases where homeowners are having to move out of and rent out their own property to cover mortgages which are getting paid for by social welfare, and now have the issue that that rental income is now also subject to the USC as well. Every last cent is being squeezed from the ordinary people of this country to pay for the mistakes of the rich, privileged and bankers. Those who would be the drivers of any countries recovery, the spenders in local economies, are being left with nothing. Its all interconnected and we need to start to working together to bring a halt to it all.
Yes, I believe that is a major part of the problem. The quality of the rental stock is dire in a lot of cases so the ones that are decent are getting the huge queues and being snapped up quickly while tons of other places are staying on the market stubbornly asking the same money. The latter are places that have seemingly had no work done on them since the eighties, with seriously sub standard furnishings etc, and landlords are expecting them to rent for these high prices, because that is what other places are going for.
There also appears to be no mention of what is the rental price €p/sqft or €p/sqm. It is vital that renters start getting smart about this stuff. There is a reason that commercial properties are priced per floor area!
Renters also need to start getting smart about what their bargaining position is. We are very used to the landlords having all the power in this country, and when we have the fear that we are going to miss out and be homeless, then we are more inclined to cave in and pay what is asked, or more. I think that there has been a purposeful holding back of some properties in order to create a false sense of low supply. We know that there is a huge overstock of apartments, but it seems NAMA has been holding them back in a lot of cases (maybe in part to keep a false floor on prices, both sales and rentals, as it is in their interests to do so). Not to mention any landlords who don’t need to rent everything out and are playing the long game.
There are also a lot of obstinate eejits out there, who would rather their place went empty for a few months, than rent below what THEY believe their property is worth (as opposed to what the market or customer deems it is worth). They do not seem to realise that for every month their place goes empty they could have dropped the price approx €100pm and saved themselves time, effort and money in the long run (this, by the way, is the argument that renters need to employ if they’re looking to stay in a property for more than a year in order to get the rent down).
Also, as far as property tax being charged to the renters is concerned, just because it can be seen as an overhead does not mean to say that automatically the full cost should be passed to the renter. It is a tax on owning a property not on being a landlord, or on being a resident. Just as if the roof of the building needs replacing, it is not possible and not fair to try and pass on the costs of that to the tenant(s), it is a cost of owning the property. It is important that renters do not fall for this and just unquestioningly accept any rent rises due to property tax.
By the way, I was replying to Louise. This commenting system could be improved methinks.
I whole-heartedly agree with you Rachael
Well Rachael, while I am sure that all the prospective tenants will agree with you I’m not so sure about the landlords. A lot of people are reluctant landlords these days, they are being forced into it by their own economic circumstances. You’re right about the NAMA stuff, and probably repossessions need to start as well. But here’s another view:
“Also, as far as property tax being charged to the renters is concerned, just because it can be seen as an overhead does not mean to say that automatically the full cost should be passed to the renter.”
Why not? This is not about fairness, it’s about what the market will bear. The property tax is another cost for the landlord, why wouldn’t they pass it on to the renters IF they can get renters who are willing to pay? (just like they also pass on the cost of the roof repair amortized over time)
As for the rental stock being in dire condition and “obstinate eejits” not being willing to let out their property at a lower price. There’s a link between those two. At a lower price you get tenants who have no respect for a property. There is very limited protection for landlords in Ireland. There should be a tenants register or credit rating system like there is in the US, and just like there is for landlords. On the other side of that, I agree that people should expect better living conditions – but somebody has to pay for it.
Ok, im going to throw it out there….
Rent allowance… driving prices up for people on minimum wag and every 1 else. (And go… let the giving out begin)
I work, and rent is my biggest expense. when I was on the doll for 3months I lived at home not knowing there was a way I could get very free rent plus keep my doll for my savings and beer habits :)
If I was a landlord yeah I’d get the government to pay my morgage too by taking in a person on rent allowance.
Can I ask what do people dpend 200 a week on if not rent (well it was 200 when I was on it, and I saved mney and drank with my friends. Good times, now im stuck working and have no time to go drinking with my mates)
People who get rent allowance are generally on welfare, Not many people on welfare can get loans as they have no employment slips. Therefore they use moneylenders Not all people who are on welfare can afford to go out drinking with their mates. I think if the government want to cut expenses then they should look at the HSE and the scandalous amounts of money given out by CWO’s Some of the allowances available to non-irish are nonsensical. They get ‘ Socialising money’, There is also an allowance for the purchase of ethnic foods and clothing. They get an allowance for clothing ( usually colourful traditional garb). They stopped giving First Communion allowance this year and its high time the foreigners had their gravy train derailed. I had reason to visit my local Health Centre on day and I was absolutely shocked by the amount of foreign nationals who were there making claims.. Why give mmoney to people who never worked a day in this country. Its laughable that these allowances even exist. I’d scrap them immediately. The rent allowance should only be paid for a certain period until perhaps the recipient gets another job. In the case of the disabled then it would be paid on a permanent basis. There is no incentive for people to come off the dole and this is the crux of the matter.
Ann – from my limited knowledge of the SW system it sounds unlikely that some of the allowances are ‘foreigner only’ as you would paint it. You cannot honestly expect me to believe you have to be from India in order to get a ‘socialising grant’ or ‘clothing allowance ‘ – the last one is available under the CWO and is available yo Irish people also.
The caps for rent allowance were reduced at the start of 2012. That means a person looking to share a house in Dublin 7 for example cannot rent a room over 269.88(or something like that) per month, while the limit for renting a place for one person is around 410(point something) a month. So you’ll be delighted to know that the choice for unemployed people are suffocating box rooms or bedsits that might as well be made from papier mache. What you’re referring to took place around a decade ago when infinite rent allowance could be claimed, I remember looking at bedsit for 600 euro a month when out of work and thinking that if I got a job I might not be able to continue living here. A cap was imposed around 2006 and then reviewed around the 2011/12. Also if you’ve only ever lived with you’re parents when unemployed you cant really comment on this issue.
” They stopped giving First Communion allowance this year” – yeah, about time.
I wasn’t aware that there are “Foreigner allowances”. How does that work, exactly?
Ah but here I am commenting :-)
300 for a single person sharing in dublin. So with a dole of 188 that’s an income of 1052 every 4 weeks. Or after renting a 500 room that’s 135 a week for food and bills and whatever else. Hmm..
Am I far off at that? Not sure as I haven’t been on it for a while.
We all turned off the idea of buying, but if rent exceeds a mortgage payment it makes sense to buy, also if your mortgage is a little hard for first 5-10 years it does get easier, although I do agree a mortgage of max €200 k is enough.
People taking out mortgages that were ‘a lil hard’ and they could just about afford to pay with 50% or greater of their basic earnings and gambling that they would always have two secure jobs, the opportunity to top up their salary with overtime, a continually falling tax burden and a steady wage increase every year to meet the interest only payments are the reason we have such a problem in the property market…
Christ man, are you mad? Not blaming the government or the banks for people making poor financial choices? Whatever next.
If you think comparing your rent with mortgage is a reason to buy you are gravely mistaken. There is loads and loads of more costs to owning a house. Owning a house in this county is a nightmare.
The Almighty, I often see you here professing the woes of owning a house in this country,is it really that bad? Also I prayed to you last nite to fix the gear box on my car, but I think you made it worse.
With an eye on the possibility of moving back to Ireland I took a look online at the cost of renting (3-bed house) in Dublin.
Based on the cost/quality of the houses to rent, we won’t be looking to move back home anytime soon
This is Ireland
Housing bubble and a crash
Now 4 years later we start our very own rent bubble in dublin well done to all involved
Economics 101. Rent will only be what people are willing to pay same with house prices if people decide they are to expensive thats when we get the crash
I think you’ll find that its supply and demand jay. The demand for rent is still there likewise the market for 3 bed semi in south Dublin is really high at the moment due to 80s baby-boomers having their own children. It’s the only reason for the increase, well that and the fact banks won’t touch you with a barge pole unless you are like concrete on paper, have a seizable 30+ deposit and are only looking for a small mortgage.
Ryan thats how the banks always should have been dont complain about their reckless lending and also conplain about their more cautious aproach
Rents will always be higher in dublin that wont change but not trying to negotate with a landlords when u biew a rental is the problem
Your economics 101, seem to ignore the subside the government gives to some people in the form of Rent allowance which distorts the market. Fake Market with rent allowance rents would be much much cheaper.
Economics 101 is supply and demand
The government propping up an entire industrywith rent allowamce i agree but that still dosent shy away from te fact that people dont negotate rents with landlords
jay you is 100 percent bang on when will people wake up and smell the coffee
Who’s complaining about the banks being more cautious jay? I welcome the fact that only serious people with heavy savings are the only ones getting mortgages right now. Far from the days when any Tom dick and Harry could walk into a bank and walk out with 110% mortgage.
Who’s complaining…..the renters who can’t get the mortgages now and moan about rents being too high.
And tenants do negotiate, I’v only just put new double glazed windows into a house because the tenants found it too cold. Now if you want a bedsit pay for a bed sit, you want a pleasant 2/3 bed in the heart of south Dublin your going to pay in excess of €1300 for it, and no way does rent allowance pay that much.
The only people who moan about rents are the people who didn’t get stuck in the negative equity monopoly game you can’t have it both ways. Maybe your mam will put you up or build a shed out the back for you.
And thanks for reiterating my point about supply and demand.
Ryan O you sound like an estate agent, €1300 for a 2-bed my ass.
I pay €850 for a good 2 bed in a nice deveopment less than 2 miles from city centre
No landlord. And I said 2/3 bed (house) I’m glad you got a 2 bed (?) in a ‘nice development’ for €850. The market is priced accordingly ATM and is well balanced IMHO. So you get what you pay for. Can I ask what you would do if your landlord upped your rent €50pw?? Would you still think the nice development would be worth it or choose to move to a lower priced bracket?
@Paul check daft out yourself.
http://www.daft.ie/searchrental.daft?id=1319240 (2bed apt)
http://www.daft.ie/searchrental.daft?id=1333764 (house)
The market is there as is the high demand.
My landlord wouldn’t up it because he knows that I know he would have a hard time filling it with a decent tenant again.
There are empty units here and in the 2 developments across from me, I can see the empty rooms.
DAFT needs to go down the route of the price property register and publish actual agreed rental prices, not just what a landlord, agency advertises for as this is what pushes prices up.
It’s nothing to do with supply and demand or better quality ( ask any landlord for a BER and see their reaction).
If you can prove you are a decent tenant (references etc) landlords should and will take your hand off for a decent discount. 2 accountant friends have just rented a nice 2 bed in Clontarf for €950 p/m, it was advertised for €1250.
It has everything to do with price and quality (check out Louise posts for proof). And I’m not talking of nama esq unfinished apt blocks that have penthouses empty and sit dormant for years. The island is flooded with ghost estates and apt blocks and there is a bloody good reason why they lay empty. The “developer” empties aren’t going anywhere, and if I were you I ask for a reduction in rent if you think the landlord would find it hard to re-rent. win win for you. He’s hardly going to refuse a decrease if he cant rent it out now is he………get back to me on that one.
What I said above is that the recent rise in advertised prices has nothing to do with supply or quality.
There is a huge supply of apartments, I’m not talking NAMA either, I live in a 7/8 year old development.
As for asking for a reduction that’s a good idea and the only reasonable point you’ve made thus far my friend.
Thanks. Glad I could help :) But the likely hood of a 7/8 yo development thats not on nama’s books is highly unlikely as it would be built right slap bang at the start of the crash. But maybe i’m wrong and some developments got in just in time. Anyhow thanks for the discussion.
Ryan
Please elaborate!!
few people on here giving out about rent allowence ,well whatare people supposed to do ?live on the streets? everyone should be entitled to a decent standard of house to live in no matter what their income or financial circumstances, most of the people who rely on rent allowence are either very low paid (thanks to cuts in minimum wage) students(thanks to cuts in 3rd level grants and increaing fees) or families(thanks to cuts in childrens allowence,welfare etc) struggling because of the greed of the banks,some landlords , and letting agencies,and inept local authorities and governments.. if anyone is to blame for an increase in rents then these are the people to blame, local authorities have houses standing empty for 6 month’s or more ,these same houses are then vandalised or sometimes burnt out and beyong repair, if the local councils got off their backsides for once and made a quicker turn a round in letting properties this would not happen.
government policy ie the household charge , second home charge, prtb charges, registration fee’s ,septic tank charges,general rates,all have to be covered in some way so landlords have no optionbut to put up the rents otherwise they would be subsidising the tenents.
letting agencies who push up or artificially inflate prices so as to get a higher commision %, the exact same thing happened with estate agents and auctioneers during the boom, my landlord was asking for 750 per month for our house the letting agency wanted 895, i delt with her directly and got it for 750.
the prtb is useless, we had a dispute with our former landlord over him retaining the deposit, he sold the house and told us we had 3 month’s to leave, we found new accomadationthe same week and informed him that we would go at the end of the month(2 weeks) he witheld our deposit on the grounds that we did not give him sufficiant notice , the prtb backed him and wanted me to pay them for their ‘investigation’. all they did was tell me on the phone that he as within his rights dispite the fact that he had served us with notice to quit first, ithe prtb is little more than another government quango set up to provide jobs for their mates and families.
we are now on the governments r.a.s. scheme but our rent ‘contribution’ is nearly 3 times that of our friends and neighbours who are on council subsidised rents, we have no choice but to pay because the local council don’t have suitable accomadationfor our needs(according to them) yet there are 16 similar housesin our area all vacent for over 18 month’s. i was told by a third party that if a council property is vacent for 6 monthsor more they can get a payment through the eu for refirbushment costs and re letting, if this is correct then i think we have the answer as to why there are so many long term empty council houses.
“everyone should be entitled to a decent standard of house to live in no matter what their income or financial circumstances”
Yep, I like that place in Killiney myself and I feel pretty entitled.
These figures are based on asking prices, yes there is a supply issue but these figures are also over inflated by landlords / agents advertising ie there is one house currently being advertised by 4 different agents at €11,000 p/m and this is not unusual, a more accurate assessment would be basing the figures on PRTB registration records of actual rents achieved
these numbers are only on house going for rent now but people renting foryears are still paying bigger rent rates…not all landlords can put down the rate they have too much to pay with property tax etc and they would have also been hit in ther own wages im sure because of increased tax etc
When the landlords pay the property tax you can be sure they will pass this on to the tenant as a rent hike!
Headline: ‘This map shows you why rent is rising in Dublin more than anywhere else’
No it doesn’t. All it shows are the differences per county.
There very much seems to be a 2-tier recovery going on, with some life being seen in the economy in Greater Dublin, Cork and Galway, but with the rest of the country showing no signs of improvement. The rental market is a reflection of this.
Maybe if Nama released some of the finished and unfinished stock they are sitting on it would alleviate this problem. This issue is heavily driven by supply and Nama is holding the market artificially high.
something has to give.
Its a supply and demand issue……Property owners will charge what they can get and will get what people are willing to pay and rightly so. This issue about property tax is stupid…rents can only be increased at the renewal of the lease…and any landlord that thinks he will get more than what people are willing to pay will have a vacant property.
Not true about only on renewal of lease. Landlord just gives written notice on rent increase and what has bugged me is that this came for me at same time as property taxes. I’m not fully sure if you have be renting with them a certain length of time before they can give you rent increase notice but I do know that it isn’t confined to lease renewal (as it wasn’t case for me) and you haven’t convinced me that my argument is stupid but we can agree to disagree. I understand that rent increase is inevitable, I just think the timing has a whole lot to do with the property tax which shouldn’t be happening
I have to disagree Louise. Even if you don’t like it landlords will put the extra cost into the tenant, it’s just business. If you won’t pay someone else will, and that’s the bottom line. The demand is huge and good places go fast. It all depends on your budget but the market is priced accordingly IMHO.
I understand Ryan. My opinion has been based on conversations with Threshold who are adamant that a landlord should not increase rent because of property tax. I do see however that this is being ignored and rents increased because of it for the business reasons (overheads etc)
I am just slightly annoyed that I should cover a tax that is clearly only for the owner of a property for owning that property. My budget may not be as good as yours, unfortunately all I’ve seen on daft for my budget are disgraceful and not priced fairly for what they are but then again it’s just my opinion and I accept that others view this differently.
I can see where you’re coming from but theme’s the brakes I’m afraid. But look the pre 63 will start to kick in soon and all rentals will have to be of a high standard (the end of the bedsit/flat) so thats a plus for you. I can see your problem but count yourself lucky that you are not one of these in mortgages arrears. :)
http://www.ritholtz.com/blog/2013/04/the-most-insane-chart-ever-irish-mortgage-arrears/
Who knows what the second dip will bring…..I can see a slight flood in the market in both sales and rentals but you be sure the rentals will go faster.
Thanks Ryan! It’s interesting to see how successfully that will be implemented. At the moment though I’ve turned into a bitter old person before my time and have resorted to ranting and raving here. I’m not from Dublin and don’t have family here to crash with so i have to rent and I’m sick of earning minimum wage in a job I hated after 6 yrs in 3rd level education, grouping together my BA and MA degree, having to waitress to survive and now the added stress of rent increases I think I’m better off emigrating! I’m sure other graduates are in my situation and its very disheartening. All in all, Ireland sucks – be you tenant or landlord!
Thanks Ryan! It’ll be interesting to see how successfully that will be implemented. At the moment though I’ve turned into a bitter old person before my time and have resorted to ranting and raving here. I’m not from Dublin and don’t have family here to crash with so i have to rent and I’m sick of earning minimum wage in a job I hated after 6 yrs in 3rd level education, grouping together my BA and MA degree, having to waitress to survive and now the added stress of rent increases I think I’m better off emigrating! I’m sure other graduates are in my situation and its very disheartening. All in all, Ireland sucks – be you tenant or landlord!
The worst thing about this is that agencies will be charging extortionate prices for mediocre properties!
There are a lot more options than getting a traditional mortgage or renting.
Do go on…
Like what?
staying in a hostel?,
staying in 5 star hotels?
camping out?
If there’s a lot more what am I missing here?
Living in a kennel by the look of his avatar.
Like what? Squatting? No fixed abode?
Katies right. Have a look at Cobb houses, build your own gaff for a pittance
More bluff. Rent is up in some places because of the property tax. In other parts its low because of the value of the property is low or has decreased or there is enough fat to absorb the tax. In some cases landlords are worried that tenants will simply move rather than pay.
I’d love to explain Ryan O Landlord, it just wouldn’t sit with your ‘get a mortgage or rent’ is the only option mentality.
Given the grasping, greasy-till attitude of many Irish landlords, I’d love to see a rent commission run by city councils along the lines of the Netherlands: once moved in you can apply to the rent commission to assess the level of rent based on a points test carried out by a council worker.
The test rates the conditions and quality of the property (includes energy efficiency and noise level tests) as well as the local amenities, with the final score used to set the legal maximum level of rent.
I’ll never forget the feeling of satisfaction when I received my copy of the council’s letter to my landlord informing him of the new ‘adjusted’ rent (approx. 20 percent lower). The letter also advised him of the timeframe within which he would have to refund me the difference since the contract was first signed, and an invoice for the points test (charged to the tenant if the results are in favour of the landlord).
And Rent Allowance Rates will continue to decrease. Majority of rentals out there are over the maximum allowed. and it is a fact that landlords are bringing up the prices due to property tax. When I was looking for this apartment I called one guy and he told me he couldn’t negotiate on his 950 asking price because of the property tax even tho he advertised with rent allowance accepted and it was a 2 bedroom apartment.
have your say