Tag Archives: Rents

Last night.

The Tonight Show on VMT.

Good times.

A new report from Nestpick, the world’s largest database for furnished apartment rentals, takes a look at the cost of renting an apartment in more than 700 neighborhoods spanning 50 major cities.

The prices are based on median rents for the last quarter of 2018, so they should reflect the current listings for an apartment. Apartments are considered “affordable” if households are spending 30% or less of their income on rent – a standard used by the US government.

Full Nestpick report here

Here’s what you need to earn to afford a one-person apartment in the world’s most popular cities (Business Insider)

Meanwhile…

 

The company [Nestpick] defines a single person apartment as around 50sq m (plus or minus 10sq m) and a family apartment as 105sq m( plus or minus 15sq m). The monthly salary requirement incorporates an area’s rent per sq m and the average apartment size.

The research found a worker on the minimum wage would need to work more than 279 hours to pay the monthly rent in Dublin 2
.

Monthly salary after tax of €8,900 needed to live in Dublin 2 (Irish Times)

Top, from left: Chris Ciauri, Salesforce; Minister for Finance, Paschal Donohoe; Mark Hawkins, Salesforce; Taoiseach Leo Varadkar; Elizabeth Pinkham, Salesforce; and Dr. David Dempsey, Ireland Country Leader, Salesforce, earlier

This morning.

Taoiseach Leo Varadkar, on his 40th birthday, officiated as US software giant Salesforce announced that it is adding 1,500 jobs over five years.

The company will establish ‘Salesforce Tower’ (above) an urban campus of four interconnected buildings located on North Wall Quay within Silicon Docks.

Reggie writes;

If these are basically call centre/customer support jobs, who will be able to afford Dublin rents?

Anyone?

Salesforce to create 1,500 jobs with Dublin investment (RTÉ)

Earlier: Not Fit To Hold A Candle

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Rental prices increased throughout 2016 at their fastest annual pace since the website daft.ie started compiling statistics on the rental market in 2002.

Average rents nationwide rose by 13.5% in the year to December, according to the latest report from the property website.

At €1,111, the average monthly rent nationwide is at a new high, the third successive quarter with a record high according to daft.ie.

The annual rate of rental inflation in Dublin is running ahead of the national figure at 14.5%.

The average monthly rent in the capital, at over €1,650, is now almost €200 higher than the last peak in early 2008, despite the subsequent property crash and a sustained period of low inflation in the interim…

The Daft Rental Report

Rents increasing at record pace, report finds (RTÉ)

Graphs via Daft

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Private tenants in Ireland pay the second highest monthly rent in Europe.

The European average is €481.

Meanwhile private rented households in Ireland spend almost 34% of their income on paying their rent, compared to a European average of 28%.

FIGHT!

Private renters in UK pay double the European average (Gerard Koessi, National Housing Federation)

Thanks Donough Ryan

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focus

Joan Burton (top) and Focus Ireland’s warning (above)

Rents in Dublin increase by 20 per cent.

No rent supplement increase since April 2013

Why?

According to the Department of Social Affairs:

increasing the rent limits would have several potentially negative effects, including:  providing an impetus for current Rent Supplement landlords to renegotiate their lease agreements to the new limits, impacting on all existing recipients; and Creating new rental floors for all properties in the sector, meaning rent increases for those not in receipt of Rent Supplement. These would include many individuals and families who would struggle with such increases, such as low-income workers and students…

Focus Ireland respond:

The Tánaiste’s decision not to make any increase in the maximum rents payable by households in receipt of Rent Supplement will effectively sign the eviction notice for hundreds of families over the coming months.

We believe that this report [Review of Rent Levels]  has no credibility as an objective review of the income levels which households which rely on social welfare need to hold onto their homes. It is essentially a statement of how the destitution of households dependent on Rent Supplement is to be used as a crude measure to moderate rents in the private rented sector

For over a year, we have been drawing attention to the fact that the levels of Rent Supplement have fallen well behind the actual rents required by landlords. This has resulted in substantial increases in general homelessness, and unprecedented homelessness among families.

Over 100 families have lost their homes and been forced to live in emergency B&Bs or hotel rooms in the first two months of this year alone. Virtually all of these families have become homeless due to rising rents in the private rented sector.

The Review of Rent Supplement levels published by the Department of Social Protection  sets out extensive and detailed evidence that rents have escalated in every area of the country since the last review over 20 months ago. It notes that the average increase over this period is over 14% and that the increase in the areas where people who rely on Rent supplement live have been even higher.

Since the middle of 2014, the Tánaiste has stated that the impact of rising rents was ‘under review’, the publication of this report draws to an end the pretence that she is going to make an effective policy response to this crisis. She is not going to give these household the resources to pay the market rents that their landlords are requiring.

The purpose of the Rent Supplement scheme is to provide support to people whose means are insufficient to meet their accommodation costs. However the Department appear to be using the Rent Supplement scheme to achieve a range of other goals, with very negative consequences on those who depend on the scheme to provide their home.

We intend on seeking legal advice as to whether the Department of Social Protection is acting outside its legal remit in failing to give adequate priority to the objectives of the scheme as set down in legislation.

FIGHT!

Focus ireland (Facebook)

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Pull up a crying chair.

James Beggan writes:

‘We’re Not Leaving’ are delighted to have [Homeless activist] Fr. Peter McVerry at our photo exhibit tonight and to launch our policy recommendations to tackle the housing crisis. After researching the housing situation in Ireland and alternatives in place elsewhere, well, there may be rent controls..Read our executive summary here

FIGHT!

Migrant Rights Centre,, 37 Dame Street, Dublin @ 7pm

All Mod Cons event (Facebook)

DaftWebGrab_large

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?

rents

Screengrab from the latest quarterly report released by Daft.ie today

RTE reports:

The average rent nationwide is 9% higher than it was at the same time last year, according to the latest quarterly rental report by property website Daft.ie.

Dublin city saw the biggest annual increase in rent of 14%.

The shortage in accommodation across the capital has seen rents increase by 22% in three years.

They are now 13% below peak values in 2007.

14% rise in Dublin city rental prices (RTE)