Tag Archives: Rental market

The average salary of tenants living in Dublin’s docklands rose to €117,095 last year, more than double what it was three years ago as the rental market in the city’s central business district continued to heat up.

Data from Owen Reilly, a docklands-based real estate agency, shows that three-bedroom apartments in the area recorded the most significant percentage rise last year, asking 12 per cent more than in 2017. The average rental price stood at €4,166.

Average salary of Dublin docklands tenant rose to €117,095 in 2018 (Irish Times)

Pic: owenreilly.ie

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From a Daft.ie report published today

Daft.ie has published its report on rental market trends for the third quarter of 2016.

It finds:

The average rent nationwide rose by almost 4% in the third quarter, equalling the largest three-month increase seen in the second quarter of the year.

Combined with other recent increases, it means that the annual rate of rental inflation in Ireland is now 11.7%, the highest recorded by the Daft.ie Report since its series start in 2002.

Read the report in full here

Previously: Certainty In A World Gone Daft

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And Ciaran should know

His plight touched the hearts of thousands after receiving a 51% rent increase in one month.

Even some landlords expressed sympathy.

But what happened next may chill your very soul.

Ciaran writes:

Felt obliged to follow up with you after my post last week in the property search, now I know this sounds like a blog but need to let the blind see what I see…

My girlfriend and I have been looking nonstop for an apartment/house since we received the news of our rent increase.

We have viewed about 8 properties in the last 2 weeks (please note these viewings are at 5-6pm and your average person is in work at these times) This is causing a lot of stress around work asking for all of this time off.

Every property we viewed and liked was snapped up on a first come first serve basis (accounting all your references checked out). Every place we looked at had a huge amount of people in an open viewing style arrangement. This really is a dog eat dog business and we learned that if you are not pushing on the landlord or tenant agents you will get nowhere.

Last night we viewed an apartment with at least another 100 people!

There was a queue down the street and there was a queue to give your reference to the agent, we got pushy and stayed back to get some one on one private time. (we needed to stand out)

He confirmed that once our references checked out this would be fine and to call him later that evening to pay the deposit.

I called him a few hours later and he confirmed everything was fine and to pay on their website – which we did, we PAID a deposit of €1300 for a 1 bed in Dublin2.

I organised through work to take the Friday off and hired a van also as we have gathered quite an amount of possessions since moving into our current place. We also informed the current landlord who had agreed the date and the final payment, return of deposit and general clean-up of affairs.

Please note also that the building is being refurbished so I am guessing he has booked builders to complete the work asap since we informed him of the news.

I received a call first thing his morning from the agency (Lowe property) who stated they received a higher offer and they were going to take it.

I at this point lost it a bit as that €1300 deposit (the asking price) means nothing, they had received a bid for €1500 and said – “Can  you match it”?

I cannot afford to pay €1500 for a 1 bed apartment nor could I justify paying that, the market has gone out of control and there is no regulation behind it.

I called the PSRA {propert service regulator) and they stated there is nothing they can do, they had stated that this letting agency and others have played this card more often recently.

Now this just gives me even less hope than before that even if you get past finding a place, get past the queues, get past the ref checks, get past the paying your deposit you are still not guaranteed that the place is yours.

Can any regulation be placed in this market at all? Does anyone care? Imagine getting excited about moving somewhere new……. Never again. Now I do not want to sound like a broken record but place yourself in my boots and feel this frustration.

Previously: The 51 Per Cent Rent Rise

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Trying to find a place to rent in Dublin?

Read on.

Simon writes:

“My wife and I are looking for a 2 bedroom house in the D6w/D12 area and went to see a little house in former social housing on a mature estate. After submitting references from employers and current landlord, we were invited to a viewing on a weekend afternoon. After looking around the house we confirmed we were interested and joined his list of 16 other couples (1 hour into a 3.5 hour viewing). After a little back and forth via email confirming our suitability (no pets, non-smokers etc) we were propositioned as follows:

Thanks Simon, So far you are on full marks so I will revert either way by tomorrow. Unfortunately, I think that I may be left with a few ideal candidates and it may come down to price. Can I ask what is the best offer you can make on the rental price as I have already had others offer more that what I advertised?

We were taken aback, as I didn’t realise Daft was now an auctions site, but having talked it over with my wife, we decided to offer €100 (or about 8.5%) over the asking price. The following morning we got a text letting us know that the property was let to someone else, who presumably, offered more.
If we had the €14k deposit, we could finance the purchase of a bigger house on the same street for about €900 a month, interestingly.”

Anyone?