How does Airbnb impact on Dublin’s rental market?
Louisa McGrath, in the Dublin Inquirier, reports:
As it is, the number of Irish hosts offering up places to stay has more than doubled every year since 2010.
The company’s latest figures show that Airbnb stays in Ireland increased 187 percent between April of last year and April of this year. And Dublin, the most popular spot in the country for Airbnb guests, hosted 240,000 visitors last year.
Airbnb says it had 4,700 listings in Dublin last month, an increase of more than 1,000 since January.
So how many of these properties are entire dwellings, apartments or houses that could house permanent residents at a time when Dublin’s housing stock is inadequate to meet demand?
Quite a lot of them, according to Inside Airbnb, an independent data project that draws statistics and information from the Airbnb website to highlight the make-up of Airbnb properties around the world.
As of January, of the 3,117 properties listed in Dublin city, 47.1 percent – or 1,469 – were entire homes or apartments, Inside Airbnb’s statistics show. (Airbnb didn’t provide these figures when asked.)
Inside Airbnb’s figures also highlight that well over a third of the city’s hosts have multiple listings.
Does Airbnb mean there are fewer homes to rent in Dublin? (Dublin Inquirer)
Previously: No Room For Swinging Cats
Airbnb. The new Boogeyman.
What a dilemma for the gubbermint. Large FDI type Multinational employment creator contributes to country’s housing crisis as a consequence of it’s core business model.
Thank ye gods we have Mary Mitchell-O’Connor and Simon Coveney to save us all!
So….. if they’re paying tax, doing it legit and it’s their property. What’s the issue….
I think some people are confused between capitalism and communism…
the issue is in this country there are no morals.
No place for morals when it’s all legal like. but, that’s an aside.
I’d agree that a ban on landlords using airbnb for entire apartments and homes would be a good thing.
But, if I go on holidays and can rent my flat out while I’m gone, the whole thing, then why the hell shouldn’t I be allowed if I do it legit like.
“No place for morals when it’s all legal like.”
Nonsense. Slavery was legal once.
Yes. The two issues are Exactly The Same.
And that proves my point.
It’s a law issue, not a moral one.
They have brought in a law Berlin which would parse between the different types of Air BnB host. Transition period ended recently so we shall soon see the impact.
Has a ring to it, doesn’t it.
If the property in question is zoned for residential use, if they aren’t paying rates, etc.
The issue is that a large part of Dublin’s rental market are now hotel rooms, thus putting extra burden on the supply of an already very limited rental accommodation, which ultimately means an increase in rent for everybody.
I rented out my apartment via AirBnb for a month between tenants and made twice as much as I would renting normally. That was during peak tourist season though.
Well, the piece could be a little clearer and distinguish the undesirable ‘landlords’ from the not simple home owner…
“So how many of these properties are entire dwellings, apartments or houses” should read….
“So how many of these properties are entire dwellings, apartments or houses” …. by landlords who are in this instance not acting as landlords but holiday home letters”
Changes shouldn’t effect say, an owner with a mortgage, just renting out their entire flat when they go on holidays…. which would be my point :)
Stray ‘not’ up top there… :/
“So….. if they’re paying tax, doing it legit and it’s their property. What’s the issue…”
It is not legal if the property is zoned residential and it is being used primarily for short term holiday lets.
It’s a bit like saying, 25% of elderly live on their own in three-bed semis and then asking…. Do the elderly living in city homes all their lives mean there are fewer homes to rent in Dublin?
25% was pulled from an Anglo bankers butt.
Solution: make all the elderly move in together. In one house.
Bit of company for each other
which is why it is banned in Germany to offer a whole house on airbnb
For your next article could you see if it’s impacting on Dublin’s hotel room market.
Then, how is it affecting tourism?
Sing along with me Clampers…
♫ ♪ We don’t need no, reg-u-lation ♪♫
(I’m only messing. We DO.)
You should have put in a second line.
♫ ♪ We don’t need no rent control. ♪♫
I didn’t think of it early enough.
G’wan you two, sing it ! :)
No dark mould patches
In the bathrooooom
LEAVE THREE-BEDS ALONE!
the level of the comments already show the total lack of understanding on the issue, here, read this, there aren’t too many big words.
…the level of the comments…
Condescending, it’s you who has a severe lack understanding on the issue. I’ll try to educate you:
Tax on Irish rental income includes income tax, USC, & PRSI. No depreciation is allowable. Property tax is payable from net income (not tax deductible). 75% of mortgage interest is tax deductible.
Bottom line in Ireland, not all of your valid rental expenses are allowable for tax.
If you apply for a grant for your child’s college fees your assessment is based on your gross income regardless of whether you make a profit or not on your property.
That’s why 1,000 rental properties a month are transferring to owner occupiers.
In Germany no income tax is payable if the owner made a loss on the rental property.
Depreciation is allowable.
The tenant pays, in addition to the rent, for his share of expenses for heating, property tax,
property and public liability insurance, electricity and water in the common areas, waste refusal, municipality
service fees, cable TV etc.
Mortgages are available @ 1.5% APR.
I hope this short lesson has been of use.
What would you like Dan? To be taxed nothing? To be left with a valuable asset that someone else paid for for you.
Too many expenses of rental income are tax deductible in my opinion. 75% of the interest payments on the mortgage.. Go way out of it.
If you’re the same Dan from here – https://www.broadsheet.ie/2016/03/15/meanwhile-in-cork-52/#comment-1571870 2004 you said you bought the property.. and with current rents, you’re still whinging.
Personally I don’t want policies that enrich landlords…. I’d like to see them taxed out of it so as property is for people who need somewhere to live.
There’s no other pension scheme you’d get someone else to pay in full for you. Go away out of it and put your money elsewhere, rather than profiting off the backs of people needing somewhere to live.
Good points me hoop.
“That’s why 1,000 rental properties a month are transferring to owner occupiers.”
Are landlords selling up is it? That’s grand in my book..
They’d have to be selling up..as they can’t be registering a home as owner occupied that was once a rental property, unless they sell their main residence.. they can’t have two or more homes that are owner occupied, surely.
Where’s your source for that sil vous plait?
I heard about landlords being contacted by Airbnb (or perhaps it was a third party planning to sublet on Airbbnb) and offered a rent higher than advertised.
Airbnb is Ireland’s Buy To Rent fantasy on crack… housing should be for homes, first and foremost, if you want to be speculate and profit on the property market, you’re gambling with peoples lives, and you should be regulated and taxed accordingly. Otherwise you end up… well, exactly where we are right now…
Who will people who want to rent property rent from if nobody is buying-to-rent(?)
– your post is nonsensical
– your post is nonsensical
Your own first line is a bit tricky to understand on the first couple of attempts, until it finally makes nonsense.
Crack dealers clearly.
Just because an entire home is made available to rent on Airbnb, doesn’t mean it would otherwise be available to rent long-term. I’m aware of people who rent out their places via Airbnb when working away from home or on holidays.
And that is ostensibly what Airbnb is supposed to be, and would be if it was regulated.
“…well over a third of the city’s hosts have multiple listings”
– that would seem to indicate that many properties on Airbnb are in fact full time holiday rentals.
At the end of the day, if there was enough land zoned for residential use, and enough properties being built, it wouldn’t be a problem; but their is a housing crisis, and AirBnB is exacerbating it.
Let’s bring in that ban on landlords on Airbnb then so that Airbnb can do what it was intended to do, allow home owners who live in their homes make some extra cash.
What Airbnb is supposed to do is make money. As a good capitalist you should know that.
I’m staying in Dublin for ten days in June and am paying $145 per night for a two bedroom apartment in Dublin 8. I booked through airbnb and from the landlords point of view it’s easy to see why they use the service.
Its cheaper than a hotel thats for sure in Dublin. Still 145 a night is fairly steep …
I stayed in Brighton recently for 11 nights (it wasn’t a vacation), I’d researched the Marina properties on AirBnB for 2 bed flats average was @ £75 p/n, so yes, I’d say 145 p/n in Dublin is fairly steep. I was off-put however by the demand of an average deposit of £200 and then additional service charges, etc, etc. I couldn’t be sure how much the whole trip was going to cost me. It was a B&B for me, rather than an AirBnB.
£75 is about $110, and Dublin is a capital city wheras Brighton is a large town., so it’s not really that steep in comparison.
Brighton is an expensive place to live: I would compare it price-wise with Dublin, no problem.
Brighton is a city – sorree! (it’s referred to as a town because it’s lovely)
I’m bringing my two daughters with me so we would need two hotel rooms, so $145 is definitely reasonable from my stand point. Also having a kitchen means we can cook if we like, so that saves money on eating out.
Of course – also, staying in a furnished flat offers more of an adventure for your kids. If you’re like me, I spent half my life at airports and hotels, it was exciting when I was young, but now it’s a chore.
I’m surprised the Irish Independent hasn’t demonized social housing tenants by exposing those who might be renting out rooms on airbnb.
But now they will. Probably put Niamh Orange Horan on it.
All Hail the Start Ups.
The Digital Revolution must be adored and facilitated. It will replace Government.
AirBnB is terrible except when I am on holidays in different cities and use it as it is far cheaper than rip off hotels.
Airbnb is now the latest thing to be demonised because of a housing crisis and a complete lack of a plan on how to deal with it.
Well it’s being restricted in Berlin so it’s not just Dublin.
Only need look to what happened to London to what is happening on a smaller scale here: https://www.vice.com/en_uk/read/airbnb-london-rentals-housing-deregulation-act
I’ve had arguments with friends who work for Airbnb who insist on trotting out the company line about most hosts being single home-owners looking to make spare cash, when the reality is much different. The irony is that all of them, like me, are single and renting in Dublin and would find it hard to get a mortgage for a modest place in Dublin, even on their Airbnb salary.
People who work in tech companies are usually Ayn Rand types in my experience.
ForFecksSake, that was a low kick…
…to call someone an ‘Ayn Rand type is like saying that their favourite band is Rush.
You wont get away with it outside Canada, where smoking herbs is allowed.
I was a landlord for two years while I rented out my home to rent a place closer to the city.
Yes, rising city rents baffled and angered me but what angered me the most was the tax due on the rent I received. Over 12 months I took in €12.5k in rent. The revenue took €5.5 of this meaning what I was left with didn’t cover my mortgage.
My point being, if I had a property to rent in the city now and there was a healthy appetite for it on airbnb which would generate extra income for me I’d know what I’d do. A small slice of a big pie is better than a small slice of a small pie
Why should the rent cover your mortgage? What that would amount to is a transfer or wealth from those who cannot get credit to those who can. You expect your tenant to buy your property for you? A property that will go up in value with time?
No, not at all. What I’m saying is the tax liability on rental income is penal. Its not something that’s reported in the media, landlords are normally demonised. Of course landlords will jack up rents or go down the airbnb road if they’ll make more money.
Donger, can you read?
-Start with what you wrote, but skip the line, No, not at all.
Replace it with, ‘Yes, I see what you mean.
-It makes more sense that way.
Jeez Louise, it’s frightening waters to leave a comment.
“What I’m saying is the tax liability on rental income is penal”
It’s not penal –
It’s the same as everyone else pays.. it’s 20% or 41% and a ton of expenses can be deducted.
No landlord in their right mind would deal with all the new right tenants have to the property when they have AirBnB option…
What rights are those you speak of?
Andrew Flood and The Workers Solidarity Movement wouldn’t approve