Rent are coming down in Dublin

national | miscellaneous | news report

Monday January 27, 2003 23:06

by dave murphy - tenant

davemurphy164 at hotmail dot com

anywhere i please

cheaper rents for all

Rent are coming down in Dublin The word on the street from estate agents and people who are looking at rental property is that RENTS ARE COMING DOWN!! Yes you heard it here first and you probably wont hear it in the Irish Times or other newspapers because they rely too much on property advertising.

Rent are coming down in Dublin

The word on the street from estate agents and people who are looking at rental property is that RENTS ARE COMING DOWN!!

Yes you heard it here first and you probably wont hear it in the Irish Times or other newspapers because they rely too much on property advertising.

I have had several first hand experiences in Dublin of estate agents telling me I can offer 20% less than the landlord is looking for because properties have been empty for weeks and they can’t find anyone to take it at the asking rent.

I have noticed properties advertised for a number of weeks falling in rental price as landlords and estate agents are forced to get real about the level of rent they are demanding.

www.daft.ie is advertising a number of properties whose move in date was weeks ago but they still cant fill them.

In one block of apartments the tenants have been informed by their landlord that their rent will be coming down by 100euros next month.

This is a long over due development and it is every tenants duty now to haggle with their landlord and offer only 70% of what they are demanding. The balance of power is shifting from landlords, who are going to become desperate, to tenants who are going to have more to choose from and cheaper options.

We are in a recession world-wide and Ireland is loosing jobs fast. The Fianna Fail Mafia have let Ireland become too expensive for companies to make enough profit so they are moving to cheaper countries. We are getting an international reputation as a rip off country.

I look forward to seeing the speculators in private residential accommodation going into negative equity and getting severely burnt. They have pushed up prices by buying several homes instead of letting people who need a home buy one. Hopefully they will learn a lesson. Most Irish people cant afford to buy and are struggling with their rent since landlords have been charging whatever they want.

There was a half hour Trevor McDonald TV special last week about the imminent property crash in the UK, projecting a 30% fall in the next 3 years. The Irish property market is a lot more overheated that the UK one so it could be a lot more than a 30% drop here.

So my advice if you are renting is to shop around and haggle like mad because its becoming a tenants' market!

mail your stories to me if you like

davemurphy164@hotmail.com