I made this comment in another post, but it’s appropriate for here as well:
This is being driven by newly-built houses being added into the rental market. Since they haven’t been let before they aren’t affected by rental caps, and so the average new advertised rents are increasing as they make up a larger portion of new advertisements.
Over the next few years something like 50K new BTR apartments are going to be completed and enter the rental market in Dublin alone. We should see the average new advertised rent increase for a while longer, and hopefully we should start seeing declines (or at least slower growth in newly-advertised rental prices). If we can stop the exodus of existing landlords from the rental market that would also greatly help.
That’s not the average rent, it’s the average rent for a new tenancy in Q1 2022.
Almost like its set up to work like this. God help anyone trying to have an existence of any sort in Dublin
It’s horrible. I work full-time in an above average paid job.
I need to move soon.
I can afford my bills & current rent. I cannot afford my bills and the newly raised rent – I’ll never afford a mortgage.
A 1 bed is costing approx 1K/month in most major cities.
This is misleading as it’s for new tenancies.
It’s also for three-bedroom houses according to the top right of the image, which would mean that the average rent would be €660 per bedroom. Which is considerably less than paying the mortgage for a home worth €465,000.
let more international companies build their offices in Dublin and fish engineers from all over world to work here for them in those offices, so much money for the city but anyone else not on engineers’ income wont be able to afford even renting in Dublin anything other than shoe box or mismanaged mouldy apartment
Do you have a link to the tweet directly?
We need to build more. A lot more.
Story today is Mary Lou has objected to build to rent apartments in Dublin city centre.
Anyone who has kids in their late teens and early 20’s is just sending them into a slaughterhouse of working full time to be able to afford rent.
It’s almost like it’s deliberate. Like they don’t want people to be able to move out and be independent, to form relationships and start families in a new place…..hmmmm.
I don’t really get the point they’re trying to make. The average Dublin rent is the same as the repayments on a 465k mortgage but the average Dublin house price is 510k.
I agree that housing is completely unaffordable but it’s not really the gotcha they’re trying to make it out to be.
Being forced out of my own country to make room for the rest of the world. I have great job , living in back of a caddy van with my old dog. I’m soo tired if Ireland. Heartbreaking.
We have a government who created this mess, and our main opposition party are anti-development.
This isn’t going to get resolved any time soon, I wouldn’t be surprised if this is still an issue in 5-10yrs.
And yet the government is buying up apartments and houses in prime locations like Donnybrook and Ballsbridge (to cite the most egregious examples) to give to people on social welfare.
Because, as we all know, if you are long-term unemployed, it is essential to live in Donnybrook….
Meanwhile, people who work can’t even dream of living anywhere near these prime locations because there is no way in hell they could afford the cost.
Does this make sense to anyone?
Wouldn’t the long-term unemployed be better off in less competitive areas of the city rather than in prime locations?
At this rate, we’re going to need legally-enforced rent caps.
800 of that rent goes to the government in tax – why can’t they use said 800/month to fund construction of an affordable apartment?
Nothing is going to change until people are arrested, unfortunately it won’t be the ones responsible but desperate people protesting.
This is what it means to be ruled by the British under Fine Gael.
Build more. Build anywhere. Stop objecting. Just build.
I don’t accept that rents need to be this high. This is taking advantage of the circumstances to gouge people.
FFG working their magic to turn the country into serfs renting land from their overlords.
You know how they say things always get better as time goes on? I feel like as time goes on we’re in fact actually getting worse and worse.
When are we protesting?
Nah is all good is your fault for being too poor, get a better job get a better income if paddy the moron made it (but he doesn’t mention he is either getting mad help from daddy or he is skimming the EU help on farmers or taxman with a cash based job) you can make it. /S
Every time on here is the same. Yes is bad but don’t bother posting here you’ll only get morons trying to tell you is your fault… Sure we even have poor ones with no house holding the same discourse… Ia ridiculous…
This is obscene. And borderline criminal.
And yet as high as the rents are, the only investment is leaving the rental sector.
Nobody but a rabid dog with money would enter into the regulated shit show they’ve created.
You can’t regulate and enforce a private market and expect it to behave like a normal supply and demand curve.
They fucked with it, and now they’re left with a fuck market.
We really do deserve our reputation as being thick as fuck.
WhY aREN’t ThE MilLiENniaLs HAVING KIDS?!
Here’s why you nosey old fuck.
Government is doing nothing about this. We will be renting forever or end up on the streets.
I don’t wanna be here anymore, it all tastes like poison
Renters like me forced to commit financial suicide because its impossible to save a deposit at these rents.
System designed by FG working as intended
There must be serious overcrowding now in households and really delayed family formation rates. This will have impacts for decades on many facets of Irish society. Our next fifty years as a nation is going to be dealing with the impact of this disaster presided over by FFG, jesus.
Burn it all down.
Landlord just informed us they are selling the house. Just looking around we’re going to be paying around double our current rent.
Also trying to find a place that allows pets is a nightmare.
Here’s some good news, I am a professional consultant in construction and have worked in several countries.
The problem is one where the snake eats it’s tail, you have more than one problem that needs to be resolved.
My prediction is that even with the best plan in the world, the housing crisis will take at least 15 years to start easing off.
Firstly you have a lack of housing, why, you ask, well you have a massive shortage of labour and as you know from the most fundamental principle of economies the less the supply the higher the demand. So now you have very expensive labour. The cost of buildings are split on average 50% – 60% for labour with the balance for materials, that is if we disregard all other input costs for the moment. So why don’t we just get labour from other countries as there are plenty of skilled tradesmen that would love to come and work in Ireland. Well firstly most tradesmen are on the ineligible list for work visas meaning tradesmen from countries not part of the EU are unable to get work visas as tradesmen. Now let’s say we somehow get tradesmen off the ineligible list, great we have 100p’s ready to come over to Ireland! Wait, where will we house them? Hhhhhhmmmm that’s a problem. Ok, let’s say we find them houses, they can’t really be paid a lower wage because rental costs the same per month as what people in Malawi own over their entire lives.
So you’ll say, you sure know how to highlight the problem, we all know that (even though you don’t 😉) what’s the fucking solution. Now hang on there we’ll get there.
You currently have a mafia in construction where very connected developers are able to still churn out profitable developments where the average small scale builder or developer just aren’t able to, due to the insanely high input costs, construct profitable developments.
Now here is my answer. Cut out the fucking middleman will you, why TF don’t the government develop houses, sure you can run a country but your incapable of putting together state employed construction workers and professionals and develop houses without having to make profit. It’s like Age of Empires, as you build more houses you can get more workers in which to house them, as you have more workers you can build houses faster and there you go Bob’s your uncle…. LOOK UNDER YOUR SEATS, YOU GET A HOUSE!!!! YOU GET A HOUSE!!!!! EVEEEEERRRRY BODDDY GETS A FFFFFFFF HOUSE!!!!
Don’t come here and tell me shit. Is it because if the government built houses there won’t be any developers to pay for your Spain holiday… Maybe, or are you just scared to upset your developer friends, I dont know, you be the judge.
You also need an income of 120k to pay rent in this city.
34 comments
I made this comment in another post, but it’s appropriate for here as well:
This is being driven by newly-built houses being added into the rental market. Since they haven’t been let before they aren’t affected by rental caps, and so the average new advertised rents are increasing as they make up a larger portion of new advertisements.
Over the next few years something like 50K new BTR apartments are going to be completed and enter the rental market in Dublin alone. We should see the average new advertised rent increase for a while longer, and hopefully we should start seeing declines (or at least slower growth in newly-advertised rental prices). If we can stop the exodus of existing landlords from the rental market that would also greatly help.
That’s not the average rent, it’s the average rent for a new tenancy in Q1 2022.
Almost like its set up to work like this. God help anyone trying to have an existence of any sort in Dublin
It’s horrible. I work full-time in an above average paid job.
I need to move soon.
I can afford my bills & current rent. I cannot afford my bills and the newly raised rent – I’ll never afford a mortgage.
A 1 bed is costing approx 1K/month in most major cities.
This is misleading as it’s for new tenancies.
It’s also for three-bedroom houses according to the top right of the image, which would mean that the average rent would be €660 per bedroom. Which is considerably less than paying the mortgage for a home worth €465,000.
let more international companies build their offices in Dublin and fish engineers from all over world to work here for them in those offices, so much money for the city but anyone else not on engineers’ income wont be able to afford even renting in Dublin anything other than shoe box or mismanaged mouldy apartment
Do you have a link to the tweet directly?
We need to build more. A lot more.
Story today is Mary Lou has objected to build to rent apartments in Dublin city centre.
Anyone who has kids in their late teens and early 20’s is just sending them into a slaughterhouse of working full time to be able to afford rent.
It’s almost like it’s deliberate. Like they don’t want people to be able to move out and be independent, to form relationships and start families in a new place…..hmmmm.
I don’t really get the point they’re trying to make. The average Dublin rent is the same as the repayments on a 465k mortgage but the average Dublin house price is 510k.
I agree that housing is completely unaffordable but it’s not really the gotcha they’re trying to make it out to be.
Being forced out of my own country to make room for the rest of the world. I have great job , living in back of a caddy van with my old dog. I’m soo tired if Ireland. Heartbreaking.
https://www.irishtimes.com/business/2022/07/25/sinn-fein-leader-lodges-appeal-against-third-phase-of-500m-dublin-city-centre-project/
We have a government who created this mess, and our main opposition party are anti-development.
This isn’t going to get resolved any time soon, I wouldn’t be surprised if this is still an issue in 5-10yrs.
And yet the government is buying up apartments and houses in prime locations like Donnybrook and Ballsbridge (to cite the most egregious examples) to give to people on social welfare.
Because, as we all know, if you are long-term unemployed, it is essential to live in Donnybrook….
Meanwhile, people who work can’t even dream of living anywhere near these prime locations because there is no way in hell they could afford the cost.
Does this make sense to anyone?
Wouldn’t the long-term unemployed be better off in less competitive areas of the city rather than in prime locations?
At this rate, we’re going to need legally-enforced rent caps.
800 of that rent goes to the government in tax – why can’t they use said 800/month to fund construction of an affordable apartment?
Nothing is going to change until people are arrested, unfortunately it won’t be the ones responsible but desperate people protesting.
This is what it means to be ruled by the British under Fine Gael.
Build more. Build anywhere. Stop objecting. Just build.
I don’t accept that rents need to be this high. This is taking advantage of the circumstances to gouge people.
FFG working their magic to turn the country into serfs renting land from their overlords.
You know how they say things always get better as time goes on? I feel like as time goes on we’re in fact actually getting worse and worse.
When are we protesting?
Nah is all good is your fault for being too poor, get a better job get a better income if paddy the moron made it (but he doesn’t mention he is either getting mad help from daddy or he is skimming the EU help on farmers or taxman with a cash based job) you can make it. /S
Every time on here is the same. Yes is bad but don’t bother posting here you’ll only get morons trying to tell you is your fault… Sure we even have poor ones with no house holding the same discourse… Ia ridiculous…
This is obscene. And borderline criminal.
And yet as high as the rents are, the only investment is leaving the rental sector.
Nobody but a rabid dog with money would enter into the regulated shit show they’ve created.
You can’t regulate and enforce a private market and expect it to behave like a normal supply and demand curve.
They fucked with it, and now they’re left with a fuck market.
We really do deserve our reputation as being thick as fuck.
WhY aREN’t ThE MilLiENniaLs HAVING KIDS?!
Here’s why you nosey old fuck.
Government is doing nothing about this. We will be renting forever or end up on the streets.
I don’t wanna be here anymore, it all tastes like poison
Renters like me forced to commit financial suicide because its impossible to save a deposit at these rents.
System designed by FG working as intended
There must be serious overcrowding now in households and really delayed family formation rates. This will have impacts for decades on many facets of Irish society. Our next fifty years as a nation is going to be dealing with the impact of this disaster presided over by FFG, jesus.
Burn it all down.
Landlord just informed us they are selling the house. Just looking around we’re going to be paying around double our current rent.
Also trying to find a place that allows pets is a nightmare.
Here’s some good news, I am a professional consultant in construction and have worked in several countries.
The problem is one where the snake eats it’s tail, you have more than one problem that needs to be resolved.
My prediction is that even with the best plan in the world, the housing crisis will take at least 15 years to start easing off.
Firstly you have a lack of housing, why, you ask, well you have a massive shortage of labour and as you know from the most fundamental principle of economies the less the supply the higher the demand. So now you have very expensive labour. The cost of buildings are split on average 50% – 60% for labour with the balance for materials, that is if we disregard all other input costs for the moment. So why don’t we just get labour from other countries as there are plenty of skilled tradesmen that would love to come and work in Ireland. Well firstly most tradesmen are on the ineligible list for work visas meaning tradesmen from countries not part of the EU are unable to get work visas as tradesmen. Now let’s say we somehow get tradesmen off the ineligible list, great we have 100p’s ready to come over to Ireland! Wait, where will we house them? Hhhhhhmmmm that’s a problem. Ok, let’s say we find them houses, they can’t really be paid a lower wage because rental costs the same per month as what people in Malawi own over their entire lives.
So you’ll say, you sure know how to highlight the problem, we all know that (even though you don’t 😉) what’s the fucking solution. Now hang on there we’ll get there.
You currently have a mafia in construction where very connected developers are able to still churn out profitable developments where the average small scale builder or developer just aren’t able to, due to the insanely high input costs, construct profitable developments.
Now here is my answer. Cut out the fucking middleman will you, why TF don’t the government develop houses, sure you can run a country but your incapable of putting together state employed construction workers and professionals and develop houses without having to make profit. It’s like Age of Empires, as you build more houses you can get more workers in which to house them, as you have more workers you can build houses faster and there you go Bob’s your uncle…. LOOK UNDER YOUR SEATS, YOU GET A HOUSE!!!! YOU GET A HOUSE!!!!! EVEEEEERRRRY BODDDY GETS A FFFFFFFF HOUSE!!!!
Don’t come here and tell me shit. Is it because if the government built houses there won’t be any developers to pay for your Spain holiday… Maybe, or are you just scared to upset your developer friends, I dont know, you be the judge.
You also need an income of 120k to pay rent in this city.