Spike in Rental Accommodation Available in Dublin City - Construction Network Ireland - Construction Network Ireland

Back to News

Next Article

Published in Commercial Property on 21/03/2020

Spike in Rental Accommodation Available in Dublin City

CNI Editor reports

The property website, Daft.ie, has reported a rise of almost two thirds in the number of smaller properties available to rent in Dublin City Centre in March.

The rise is being attributed to the hit to the tourism sector as a result of the Covid-19 pandemic.

The demand for short-term rentals has fallen steadily as a result.

Close to 400 one and two-bed properties were advertised in under three weeks, up 150 from the same period last year, the website’s figures show.

“The scale is still small compared to overall need, however, with the Dublin rental market typically needing 1,000 homes a week to keep rents affordable,” economist Ronan Lyons said.

“While a one-off shift from the short-term to long-term rental market may be welcome news for many, it does not change the huge underlying need to build new rental homes.”

Nationally, the number of rental ads are up 13%.

However, almost all of the increase is accounted for by the Dublin market.