The real estate market of Ireland the rent growth 10%

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It is expected that the prices of property in Ireland and rent will grow by 8% in 2018 .

In a study conducted by the Community surveyors Ireland (SCSI ), says that despite the fact that many homeowners, particularly in Dublin and Cork are already at the peak of rental yields, rents in the whole country will grow by 8%. If from the calculation to exclude Dublin, the rent growth is projected at 10% for apartments two bedroom and 9% for residential property to three bedrooms. The most popular real estate will remain the property into two and three bedrooms. Large homes are also in demand, but rising rents on houses with 4 bedrooms or above will be approximately 6%-7%.

First, the growth in rental prices of residential property in Ireland is associated with restriction of deliveries amid competition among buyers. Further population growth and improving economic indicators will also contribute to higher prices in the short term.

The challenge for builders has been the rising cost of building land. So, in 2017 the cost of land for construction of residential property in Ireland rose by 14% , and in 2018 will increase , according to forecasts another 11%.

The crisis of home ownership in Ireland is associated with changes in the tax laws. The majority of homeowners sold their property, believing that to be an investor profitable – the result, in 2017 the three owners who sold their homes, had only one that you have invested. Thus, the market suffers from a shortage of housing, which is the reason for the rising prices. Growth of rent rates, in turn, leads to a deterioration of the situation of tenants – they are even harder to accumulate a Deposit to buy their homes.

It is obvious that the rental market of real estate in Ireland and will continue to be under pressure as the factors influencing this situation are unlikely to be resolved in the short term.

® Helen Entree. 16.02.2018 G.

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