Tag Archives: Rental prices

This morning.

Further to results from Daft.ie that showing rents now risen ‘by 70% on average – 87% in Dublin, 68% in the other cities and 53% elsewhere – from their lowest point’ a decade ago.

In Dublin rents are 30% higher than their Celtic Tiger peak.

The Social Democrats have called for an an emergency rent freeze across the country.

Soc Dem co-leader Catherine Murphy said:

“It’s not good enough that the government continues to throw struggling renters upon the mercy of a market where there is an acute lack of supply and where the going rates for rental properties are totally out of whack with many people’s incomes.

“In our Alternative Budget 2019, the Social Democrats proposed a two-year emergency rent freeze across the country. It is abundantly clear that rent pressure zones are failing to curb soaring rents. We need a stronger solution to the current crisis.

The only option now is for the government to bring in an emergency rent freeze that will at least give renters some certainty about their weekly or monthly outgoings.”

Rental Price Report (Daft)

Rents continue to hit all-time highs with 11.3% national rise – Daft.ie (RTÉ)

Members and supporters of the group Dublin Tenants Association holding a picket outside the headquarters of Ires REIT on Grand Canal Dock, Dublin in July 2017

In May 2017.

Fiona Reddan, in The Irish Times, reported that two-bed apartments in The Maple apartment complex in Sandyford, owned by Ires REIT, were set to be rented out for €2,750, setting a new rental price record in the area in the process.

Members and supporters of Dublin Tenants Association subsequently protested outside the offices of Ires REIT.

On Saturday, Craig Farrell, in The Irish Sun, reported that, due to a legal loophole, tenants of The Maple apartments were facing rental price hikes of up between 20 and 26 per cent – despite the apartments being situated in a Rent Pressure Zone where rent can only be increased by four per cent per year.

Last Friday, several tenants protested outside the Ires REIT offices after getting letters from Ires REIT about the pending rental increase.

Last night, Ms Reddan, of The Irish Times, reported Ires REIT has abandoned it’s plans to increase rent by 20 to 26 per cent and, instead, will increase the cost by four per cent.

Ms Reddan reported:

“The Maple was launched last summer, setting new rent highs for the area, coming on the market at €1,925 for a one-bed and €2,570 for a two-bed apartment. Some tenants of the development, which is at full occupancy, were told that their rents would rise to as much as €2,800 following the proposed rent hike, which was due to kick in on January 1st 2019.

“However, following a demonstration outside the offices of the landlord by affected tenants, and engagement with the property company, Ires will now apply a lower rate of rent increase, of 4 per cent, at the development.”

There you go now.

State’s biggest private landlord shelves 25% rent rise in Dublin (Fiona Reddan, The Irish Times)

Previously: IRES My Case

REIT It And Weep

Ugh.

Related: Rent increases in private rented housing (Citizens Information)

Previously: Certainty In A World Gone Mad