herald

Monday 20 August 2018

Shortage of quality homes to rent in city

DUBLIN is in the grip of a rental accommodation shortage, a leading estate agent has said.

Despite perceptions of an over supply, there is a lack of quality apartments and houses available to let, according to Sherry FitzGerald Lettings.

And the shortage is particularly acute in sought-after areas like Dublin 2 and 4, the company told the Herald.

That is why it wrote to homeowners who may be considering letting out their property, offering free rent valuations. "There is a serious shortage," said spokeswoman Eileen Sheehy.

"There is an abundance of property for sale but not for letting. People who cannot sell their homes are also renting themselves," she added.



Investors

Ms Sheehy said the shortage applies "right across the city" and beyond, from as far out as Wicklow to Howth. The condition of the homes is important to her company's professional and corporate tenants.

A good quality, one-bed apartment in Dublin 4 could fetch between €1,100 and €1,200-a-month, she said.

A two-bed could command €1,600 to €1,800 and far more in certain cases. In Ballsbridge's Shrewsbury Square development -- which has a concierge service -- two-beds are being let for €2,500-a- month and one-beds for €1,700. "If the investors were there, it would be a good time to buy. We're back to '98/99 price levels," Ms Sheehy added.

comurphy@herald.ie

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