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THE NUMBER OF people renting continues to rise across Ireland, with more people in the private rental sector now than at any point since 2007.
As well as this, forecasters predict that rents will continue to rise in Dublin by about 5-6% each year until to end of 2019. Outside of Dublin, rent increases of 7.2% per year are forecast.
The figures are contained in a rental report by property and real estates consultants Savills.
Based off quarterly data from the Central Statistics Office, if finds that 895,600 people are now living in rental accommodation in Ireland – a 39,500 increase in the last 12 months.
In total 18.9% of Ireland’s population is now housed within the private rental sector. In Dublin the figure stands at 24.3%.
Various reports show that rents have been rising consistently across the private rental sector in recent years, as demand far outstrips supply.
The vacancy rate in Ireland is currently at 1.31%, according to the report.
It suggests that rents will continue to rise until the vacancy rate reaches an “equilibrium” level of 5.6%.
The report also notes that cash investors are now crowding out smaller buy-to-let landlords.
An estimated 199,466 private rental sector units are currently owned outright by investors – 61.1% of Ireland’s estimated stock.
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The management at Hilton will be very happy to be described as ‘luxury’ hotels…
About 40 something Conrad and Waldorf Astoria hotels in a chain of 4,200 makes them approx 1% luxury hotels.
I’m a gittin’ dat twitch in ma artificial knee. Thar’s a dot.bomb 2.0 crash a comin’…
Launch a funding round for your knee, it’s sure to be worth a few hundred million.
I would do a Kickstarter, but with the dodgy knee, the kicking isn’t so good.
I’m sure Irish Air BnB hosts will be only too delighted to declare the income to Revenue.
What a great and simple idea AirBnb is…..an idea if only I had thought of that. The right idea can make you serious $$$$
€€€ surely?
Don’t confuse company value with profit. They haven’t made any profit at all yet.
They don’t have to.
That’s exactly what the dot.bomb crowd (1997-2000) thought.
Another crowd distorting the city rental market. Similarly, in the D4 area, Daft is full with rentals advertised on a per week basis, 2 bed apts for 600-800 per week. Aimed at the “silicon docks” (it’s Ringsend, lads) execs. No average family can afford that.
I’ll think of them when I write a rent cheque for €2,100 a week…. When my (same size) silicon docks D2 apartment cost €1,350 a month.
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