Thankfully I’ve emigrated, how the fuck can rent increase nearly 10% from nearly already records highs?
There are 940 properties to rent in the whole country according to Daft this morning. This includes all those weird student accommodation dorm types, and €4k a month REIT properties.
That is absolutely insane.
940 doesnt include rooms going in shared houses but to have that amount of properties to cater for every family, couple and individual in the COUNTRY that wants to live alone is beyond belief.
Just happened to me, my landlord wanted to sell, and we were nearly at the point of mortgage approval, but we had to move into another rental that’s way smaller and more expensive. I swear, if things continue to get harder for 20-35 yr olds there is going to be some form of coup.
‘Rents soar as government continues to fail for the X year to deliver required amount of houses’
Only 6% of Landlords are ”leaving” the ”market” according to the Landlords own association.
The landlords that are leaving are doing so to make a massive profit from selling the property.
Build more homes not financial assets is the solution to this ”problem”.
I’m fed up with this sort of guff:
>A huge reduction in the number of landlords offering new tenancies has emerged as rental costs have surged again.
>
>The shortage of properties means people are spending significant chunks of their income on accommodation costs.
Landlords leaving the market is not the main cause of the shortage of properties, nor is it the main cause of surging costs. The solution to the shortage and the cost is to build more homes. The constant attempts to reframe this crisis as a problem for landlords rather than a problem for people needing homes are tiresome.
Landlords are cashing in by selling properties at higher prices, which is helping out other buyers who are looking for homes too.
The problem is there aren’t enough rentals left. I have a friend who just changed his job a month ago, so he cannot get a mortgage, and his landlord is selling his house now. To make things worse, he has a pet dog. He is seriously considering just leaving the country now, because his job allows him to.
This is actually why we need build to rent apartments. I guess the issue is there is a massive shortage everywhere, but we need rentals as much as we need permanent homes for sale.
“People who bought housing as an investment sell their investment for profit”
Fixed that title for you.
We have to house 40,000 Ukranians yet so theres actually -39,060 houses for rent.
I looked at becoming a landlord a while ago just out of interest. I bought my small mid terraced house by myself a few years ago when prices were reasonable by myself. My partner and I are expecting a baby and were looking at buying a larger place, we both have savings so we thought about maybe renting the current house as I am a bit sentimental about it. By the time we factored in the cost of tax from renting, the cost of insurance etc it was insane what we would have to charge in rent to break even.
This problem will never be solved so long as the following continue to exist:
– All new builds need to be A-rated for energy. This add 50k to the build cost over C.
– Can’t build tall
– clampdown on one off builds in the countryside.
You can’t have your eco-cake and eat it too.
That’s insane! My partner and I are lucky enough to be steadily employed and have rented for 5 years in Dublin. Our landlord is selling and we will have no place to live in 5 weeks. We have sent emails every day and called with no viewings. I feel pretty despondent every day not knowing where I’m going.
The future outlook looks pretty tough/challenging in Ireland.
I am 1 month out from being working homeless. House here being sold through fair deal. I can’t find anything else. Like… What do I do? Stay working in the city here and live in a hostel? That won’t work… How are we in this situation? Fuck…
No shit, the only reason I’m renting out my property is because I can’t live there. I’ll be selling before the next election as who knows what new laws they’ll bring in.
It’s the worst investment, high risk, high maintenance, uncertain laws which are always making it more difficult and to top it’s all off people hate you lol.
The government were warned this would happen if they brought in the quick-fixes demanded by the opposition. There are no quick fixes to the problems we have, and they inevitably make the problem worse.
Obviously there is a huge problem with house-building, but we will always have people who want to rent. They need supply too.
Sold up my ‘accidental landlord’ property this year. It’s a fucking mess of a system for everyone. Only large multinational property companies will be left in the private rental market and they will leverage their power to completely fuck over tenants and the taxpayer.
Our government:
Begin project 2040, encouraging immigration into Ireland. Expect 1 million increase in our population.
Don’t build houses.
Watch as homelessness sky rockets.
Don’t be houses.
Watch increasing demand for homes, especially for first time buyers and social housing.
Don’t build houses.
Ignore public outcry, focus on getting water taxed.
Don’t build houses
Sell public land to developers to build homes, which will then be bought by the government at market value.
Allow multinational Corporations to purchase estates of homes.
Don’t build houses.
Don’t repair the thousands of boarded uo properties across the country.
Don’t build houses.
Implement schemes proven to increase housing costs, pat yourself on the back.
Don’t build houses.
Spend an election cycle telling everyone how SFs plans won’t work. Don’t build houses, don’t present a solution.
Expect to take in 200,000 refugees over the next year.
Start to maybe consider building some houses.
——‐—-
And yet they are shocked that we are angry, and that there are no homes to buy.
I’m sure the government will step in and sort this. They couldn’t simply stand by and watch it get worse for ANOTHER 10 years.
My Brother in Spain couldn’t believe I’m paying 800 a month for a house share in Crumlin with 4 other lads, He’s paying 270 for his mortgage, This country is fucked.
Isn’t there like an in-game event or something when landlords abuse their power ,rent is too high, wages are unsustainable as well as taxes soaring? I think it’s called “dragging the elites into the street and pounding them to a pulp”…
I used to live in Ireland from 2014 to 2018 but housing is really what made me move back to France.
I was renting a room in blanchardstown (Dublin 15) for 650/month. I saved 35k€ deposit and had a 40k salary. Went to all the banks could not get a mortgage or just enough to buy a very small flat outside Dublin.
I am back in my hometown got a 42k€ job and for 170k€ I’m buying a 4 bedroom house in the city centre of a 200k people city, 200m from tramway.
It’s a pity because I felt good in Ireland, I miss the gigs and the nice people there but housing market make almost impossible to invest and become a landlord.
I will come to Ireland in 1 month and I don’t even have a room to stay. I’m thinking of not coming to Ireland anymore and investing my savings in another country.
I don’t understand it, we banned co-living tenements, capped rent rises, demonised landlords, banned foreign build-to-rent vulture capital, and somehow there are *fewer* rental properties available? This isn’t the economics reddit taught me.
Landlords are leaving the market. Thus increased competition for rental properties. So rents go up.
People like to scape goat small landlords, but this is pure govt policy disaster. If record numbers of landlords can’t make a profit in this market at these rates, what does it tell you
The most common word in this thread is ‘greed’.
It’s a free market, there’s less than 1,000 available in the whole country. Pricing is simple supply and demand.
Our electorate has driven out private landlords from the market, they’re taxed to death and vilified. In all other country’s one can buy a site, build a house on it and rent it out, but of course not in Ireland. It would provide rental accommodation to families, lower market rent, help the construction sector and provide yield to an investor. It’s literally a win, win, win, win.
This country is a disaster, and we can’t even address the problem. Instead of promoting build to rent to fix the rental market we take the easy route and chalk it down to greed.
You wanted private landlords out of the market? Ask and you shall receive, this is what it looks like.
26 comments
Thankfully I’ve emigrated, how the fuck can rent increase nearly 10% from nearly already records highs?
There are 940 properties to rent in the whole country according to Daft this morning. This includes all those weird student accommodation dorm types, and €4k a month REIT properties.
That is absolutely insane.
940 doesnt include rooms going in shared houses but to have that amount of properties to cater for every family, couple and individual in the COUNTRY that wants to live alone is beyond belief.
Just happened to me, my landlord wanted to sell, and we were nearly at the point of mortgage approval, but we had to move into another rental that’s way smaller and more expensive. I swear, if things continue to get harder for 20-35 yr olds there is going to be some form of coup.
‘Rents soar as government continues to fail for the X year to deliver required amount of houses’
Only 6% of Landlords are ”leaving” the ”market” according to the Landlords own association.
The landlords that are leaving are doing so to make a massive profit from selling the property.
Build more homes not financial assets is the solution to this ”problem”.
I’m fed up with this sort of guff:
>A huge reduction in the number of landlords offering new tenancies has emerged as rental costs have surged again.
>
>The shortage of properties means people are spending significant chunks of their income on accommodation costs.
Landlords leaving the market is not the main cause of the shortage of properties, nor is it the main cause of surging costs. The solution to the shortage and the cost is to build more homes. The constant attempts to reframe this crisis as a problem for landlords rather than a problem for people needing homes are tiresome.
Landlords are cashing in by selling properties at higher prices, which is helping out other buyers who are looking for homes too.
The problem is there aren’t enough rentals left. I have a friend who just changed his job a month ago, so he cannot get a mortgage, and his landlord is selling his house now. To make things worse, he has a pet dog. He is seriously considering just leaving the country now, because his job allows him to.
This is actually why we need build to rent apartments. I guess the issue is there is a massive shortage everywhere, but we need rentals as much as we need permanent homes for sale.
“People who bought housing as an investment sell their investment for profit”
Fixed that title for you.
We have to house 40,000 Ukranians yet so theres actually -39,060 houses for rent.
I looked at becoming a landlord a while ago just out of interest. I bought my small mid terraced house by myself a few years ago when prices were reasonable by myself. My partner and I are expecting a baby and were looking at buying a larger place, we both have savings so we thought about maybe renting the current house as I am a bit sentimental about it. By the time we factored in the cost of tax from renting, the cost of insurance etc it was insane what we would have to charge in rent to break even.
This problem will never be solved so long as the following continue to exist:
– All new builds need to be A-rated for energy. This add 50k to the build cost over C.
– Can’t build tall
– clampdown on one off builds in the countryside.
You can’t have your eco-cake and eat it too.
That’s insane! My partner and I are lucky enough to be steadily employed and have rented for 5 years in Dublin. Our landlord is selling and we will have no place to live in 5 weeks. We have sent emails every day and called with no viewings. I feel pretty despondent every day not knowing where I’m going.
The future outlook looks pretty tough/challenging in Ireland.
I am 1 month out from being working homeless. House here being sold through fair deal. I can’t find anything else. Like… What do I do? Stay working in the city here and live in a hostel? That won’t work… How are we in this situation? Fuck…
No shit, the only reason I’m renting out my property is because I can’t live there. I’ll be selling before the next election as who knows what new laws they’ll bring in.
It’s the worst investment, high risk, high maintenance, uncertain laws which are always making it more difficult and to top it’s all off people hate you lol.
The government were warned this would happen if they brought in the quick-fixes demanded by the opposition. There are no quick fixes to the problems we have, and they inevitably make the problem worse.
Obviously there is a huge problem with house-building, but we will always have people who want to rent. They need supply too.
Sold up my ‘accidental landlord’ property this year. It’s a fucking mess of a system for everyone. Only large multinational property companies will be left in the private rental market and they will leverage their power to completely fuck over tenants and the taxpayer.
Our government:
Begin project 2040, encouraging immigration into Ireland. Expect 1 million increase in our population.
Don’t build houses.
Watch as homelessness sky rockets.
Don’t be houses.
Watch increasing demand for homes, especially for first time buyers and social housing.
Don’t build houses.
Ignore public outcry, focus on getting water taxed.
Don’t build houses
Sell public land to developers to build homes, which will then be bought by the government at market value.
Allow multinational Corporations to purchase estates of homes.
Don’t build houses.
Don’t repair the thousands of boarded uo properties across the country.
Don’t build houses.
Implement schemes proven to increase housing costs, pat yourself on the back.
Don’t build houses.
Spend an election cycle telling everyone how SFs plans won’t work. Don’t build houses, don’t present a solution.
Expect to take in 200,000 refugees over the next year.
Start to maybe consider building some houses.
——‐—-
And yet they are shocked that we are angry, and that there are no homes to buy.
I’m sure the government will step in and sort this. They couldn’t simply stand by and watch it get worse for ANOTHER 10 years.
My Brother in Spain couldn’t believe I’m paying 800 a month for a house share in Crumlin with 4 other lads, He’s paying 270 for his mortgage, This country is fucked.
Isn’t there like an in-game event or something when landlords abuse their power ,rent is too high, wages are unsustainable as well as taxes soaring? I think it’s called “dragging the elites into the street and pounding them to a pulp”…
I used to live in Ireland from 2014 to 2018 but housing is really what made me move back to France.
I was renting a room in blanchardstown (Dublin 15) for 650/month. I saved 35k€ deposit and had a 40k salary. Went to all the banks could not get a mortgage or just enough to buy a very small flat outside Dublin.
I am back in my hometown got a 42k€ job and for 170k€ I’m buying a 4 bedroom house in the city centre of a 200k people city, 200m from tramway.
It’s a pity because I felt good in Ireland, I miss the gigs and the nice people there but housing market make almost impossible to invest and become a landlord.
I will come to Ireland in 1 month and I don’t even have a room to stay. I’m thinking of not coming to Ireland anymore and investing my savings in another country.
I don’t understand it, we banned co-living tenements, capped rent rises, demonised landlords, banned foreign build-to-rent vulture capital, and somehow there are *fewer* rental properties available? This isn’t the economics reddit taught me.
Landlords are leaving the market. Thus increased competition for rental properties. So rents go up.
People like to scape goat small landlords, but this is pure govt policy disaster. If record numbers of landlords can’t make a profit in this market at these rates, what does it tell you
The most common word in this thread is ‘greed’.
It’s a free market, there’s less than 1,000 available in the whole country. Pricing is simple supply and demand.
Our electorate has driven out private landlords from the market, they’re taxed to death and vilified. In all other country’s one can buy a site, build a house on it and rent it out, but of course not in Ireland. It would provide rental accommodation to families, lower market rent, help the construction sector and provide yield to an investor. It’s literally a win, win, win, win.
This country is a disaster, and we can’t even address the problem. Instead of promoting build to rent to fix the rental market we take the easy route and chalk it down to greed.
You wanted private landlords out of the market? Ask and you shall receive, this is what it looks like.