WHILE THE CENTRAL Bank was this week announcing new rules to help get first-time buyers on the property ladder, many Dublin renters saw any hope of owning a home evaporate.
Rental prices in the capital have been climbing in the last two years, to the point where many feel that they can’t save and rent at the same time.
That is the situation Conor* finds himself in. He and his girlfriend have been living close to Dublin’s south inner city for four years.
With the sale of their apartment block, however, they will be expected to shell out 51% more for rent in a month.
“My girlfriend and I have been tenants in the building just shy of 4 years, we are currently paying €925 which at the time we moved in was the going rate.
“I was informed just before Christmas that my apartment block was being sold, which is fine and it clearly stated on the for-sale sign that the tenants would not be affected.
“Now we know [our rate] is pretty good for the area and below market value and we were expecting a rent increase which is perfectly fair and within the new landlords rights.
“The market value for a 1 bed in [the area] is about €1,050-€1,100 presently and we are by PRTB rules allowed first refusal on the apartment.
“Yesterday we were informed that the rent is going up to €1,400.”
That is an increase of 51%, something Conor says is “downright scandalous”.
“We have pleaded with the landlord who will not listen to us. I have heard of rents going up across the whole country and people finding it hard, but this is beyond a joke.
“I really wanted to shine some light on this. How can landlords keep getting away with this?”
Conor says that the issue for him and his girlfriend is that they want to move on and get their own house, but that is becoming an ever-further goal.
“The underlying matter here is that how in God’s name are a professional couple supposed to save for a mortgage when we are being asked to cough up €1,400 a month, not including that the cost of our bills on top of this.
“We are a hard working professional couple and seems like one hurdle after another, every time you think you have something else crossed off another obstacle blocks your way – we are paying taxes in this country so why are we being punished for trying to live here?”
*Conor’s identity is known to TheJournal.ie, but he prefers not to be identified
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