Ireland

The housing crash initially resulted in a huge expansion of rental offers. From 6,200 units in August 2007, the number of properties for rent rose significantly to more than 23,400 in August 2009. However, the stock of rental properties has now fallen to less than 18,000 (October 2010).

Dublin rents actually rose during 2010, but are still 30% below their peak levels.

      • The all-Ireland rent index fell 2% y-o-y to October 2010, according to        Daft.ie, a significant smaller fall than last year’s 17% rent collapse. The average rent in Ireland in Q3 2010 was €840 per month, down from €880 in mid-2009.
      • On average, rents in cities rose 0.7% y-o-y while rents in non-city areas fell        0.7%.

Yields have slightly improved but remain stubbornly low.

      • The average rental yield across Ireland for Q3 2010 was 3.8%, up from 3.4%        in Q3 2009.
      • Dublin’s yields are slightly better at 5.5% in the city centre. In other Dublin        counties, yields range from 4.0% to 4.7%.

» To continue reading this article, subscribe now!