Owen Reilly’s thoughts on the pending accommodation crisis in Dublin as office workers and students return.
It was a tenant’s market in Dublin city centre and docklands for the last 18 months but that is now over. More than half of our sellers are landlords exiting the market. 70% of our buyers are owner occupiers. As workers and students return to Dublin this Autumn we are now facing an accommodation crisis. The government are offering mom & dad landlords no incentives to continue to rent their properties, actually the opposite. Rising prices and the latest change to rent pressure zones rules linking increases to inflation encouraged more landlords to sell up. It will get tough for tenants. But this is an opportunity for investors and we are seeing a pick up in demand but only on properties that are not rent capped. Unfortunately you will read more about this in the coming weeks and months. Link to article in the Sunday Independent here