Dublin’s Crazy Rents Continue Unabated As Report Highlights Paucity of Supply

Dublin City Centre

Dublin remains the fifth most expensive city to rent in Europe.

The city experienced an increase of €119 per month, a 2.2% rise in 2020, though a slower rate of increase than experienced between 2019 and 2020, which was a ‘staggering‘ 6% according to rental report authors ECA International.

The average rental cost of a three-bedroom central home in Dublin now €3,713, per month, making it far costlier than other European capital cities such as Rome at €2,729, Berlin at €2,475 and Valencia at €1,600.

Alec Smith, Accommodation Services Manager at ECA International noted: “Dublin remains a popular location for businesses to send staff on assignment, so demand continues to impact accommodation costs. In addition, ongoing building regulations which remain tight in Dublin makes supply slim in popular areas of the city.”

The report points to tight building restrictions and the popularity of the city for business as contributing factors for the high rental costs.

For the co-founder of the Dublin Renters Union Peter Dooley, the pandemic hasn’t eased the situation on the ground. He says evictions are taking place despite the temporary ban;

We’re seeing that on the ground all the time where eviction notices are being issued notices are being issued still repeatedly. There was so many illiegal evictions during the pandemic as well.”

Dublin’s prices surpass that of Paris, Berlin and Amsterdam.

Sinn Féin’s housing spokesperson Eoin O Broin says its time Government took a more European approach to the rental market:

Other comparable sized European cities can deliver rental accomodation for 7, 8 or 900 euros a month and we need government to start doing that here.”

Dublin – Rents – ECA International 2021