Dublin Economic Monitor show Residential Rents continue to rise – Reilly
Following the release of the latest Dublin Economic Monitor, Sinn Féin Dublin City Councillor Noeleen Reilly has expressed concern at the continued increase in rents.
Cllr Reilly said:
“The Average rent in Dublin is now €1,454 per month across Dublin and €1,306 for apartments.
“This is approximately an increase of just over 8% for both houses and apartments.
“This is very worrying particularly when you look at the continued increase in demand and the low level of housing completions.
“Only 440 homes were completed in May and these were mainly in the Fingal area.
“The lack of supply is a driving factor in the increase in rents and only the building of more units will address this issue.
“The lack of adequate rental accommodation is not only affecting families in Dublin but it is also having an impact on Dublin as a location for investment resulting in the loss of thousands of potential jobs for Dublin citizens.
“Dublin Local Authorities need to be able to source financing themselves to build and this can be done through the Housing Finance Agency as there is an opportunity now to avail of low interest rates which may not be there in the Future.”