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news report
 Monday February 10, 2003 20:46 by Dave Murphy - Tenants of Ireland, davemurphy164 at hotmail dot com
 First hand experience of rents decreasing in Dublin rents are definitely falling Over the last few weeks we have first hand experience of the rental property market crash in Dublin and unarguable evidence that rents have come down by as much as 33% on last year’s levels. Estate agents have admitted that rents have decreased on apartments in the city centre by 25% on last year. 2 bed appartments which were 1600 Euro last year are down now to 1200 Euro. Even after that 25% decrease landlords and estate agents are still desperate to rent property. They can not find tenants to take property at the prices they are asking and are now dropping rents futher in order to get a tenant in. For example they are now saying they will accept 1100 Euro when you arrive to look at a 1200 euro appartment. Observing the online site www.daft.ie one can see the same property ad over several days or in some cases weeks dropping in price. There are a considerable number of ads which have been there for weeks and the move in date is back in January or December. When you arrive to view a place at 6pm there is no longer a line of 10 people waiting who are desperate to find a place to live. Instead there is a sad/frustrated property speculator or estate agent hoping for a gullible victim to sign up to pay a monthly rent that is way over the mortgage price they are paying. The market is turning completely from being a landlords market to being one where tenants can pick and choose and offer they price they think is right. Landlords no longer have an option. No doubt we will start to see this reflected in the housing sales market as we go deeper into recession and home owners start to face negative equity. Advice as always is to shop around and haggle, there is plenty of choice! |
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Jump To Comment: 1 2From the SP website.
Socialist Party Press Statement
10th February 2003
Fingal Rent Hike:
Hundreds of Tenants Protest at Fingal County Council Offices, Swords
Joe Higgins TD & Cllr. Clare Daly, Socialist Party
SOME 200 tenants of Fingal County Council protested outside the Council offices in Swords today over the drastic increases in rents imposed by Council management for 2003.
The management has lifted the fixed ceiling on rents that traditionally applied. As a result, several hundred tenants could face rent increases of up to 80%, for example from €50 per week ceiling up to €90% per week.
Also, as a result of increases imposed on subsidiary earners in Council houses, social welfare recipients can have their contribution rise from €11.30 per week to €15 per week. This rise of €3.70 might not seem massive to people on good wages, but it does represent 60% of the Budget increase given to most social welfare recipients.
The fact is that these increases are substantial when put alongside the raft of increased taxes and charges imposed on households in the last few months – T.V. licence, electricity, V.A.T., car tax and so on.
These rent increases were imposed by Fingal County Council management with no prior consultation with either tenants or elected Councillors.
The campaign of opposition is demanding a return to the Rents Scheme operating in 2002 or, at a maximum, increases no greater than inflation.
For further information, contact Joe Higgins T.D. at (01) 6183038
Yesterday, while looking for a new flat, I managed to haggle the landlord down from €150-a-week to €130-a-week. In the past, landlords would have told hagglers to fuck off in the knowledge that there's always someone desperate enough to pay above the odds. The times they are a changin'...