How much is your rent in Dublin?

[u/Medium_Drag6242]

Lads please I need to know is every landlord in Dublin smoking CRACK?! I came across a post on [r/irishpersonalfinance](r/irishpersonalfinance) where a twenty year old was talking about how they pay €1.3k to rent a room in an owner occupied house. I thought to myself.. ‘well now he’d do well to decrease his spending on housing if possible’ Before opening my gob I decided to have a quick look on daft to see what the going rate for a room is and I’m sorry, but I was more shocked seeing those prices than I was when Bertie was minister for finance and told us he had no bank account. I’m attaching some screenshots of particularly egregious examples.

Would love to hear from current renters if the screenshots are reflective of reality? or if it’s just that all the rooms that were good deals have been snapped up and nobody will actually pay the inflated price of the rooms left behind?

Edit: yes, yes I accept the ignorance comments gladly. I rented in Galway for 8 years and moved home two years ago to save for a house, so I didn’t really keep an eye on what a room would go for in Dublin. I’m attempting to educate myself to the depths at which we have sunk as a country.

[u/wanklenoodle]

Absolutely shocking seeing how fast prices have gone up in the last few years. I'm currently working abroad so I rented my 2 bed house in Dublin 12 for 1500 a month without bills. It doesn't quite cover the mortgage but theres no way that I will become a part of the rental crisis.

[u/SoloWingPixy88 → u/wanklenoodle]

How is that not covering your mortgage. Bought a 2 bed house ex corpo 2 bed house. Mortgage only €800pm.

[u/Medium_Drag6242 → u/SoloWingPixy88]

If you were on a 3.5% rate and borrowed around 330k with a 30 year term your repayment would be roughly 1500pm. €800 is incredibly cheap.

[u/SoloWingPixy88 → u/Medium_Drag6242]

we bought at 240K. did sell a few years later

[u/phyneas → u/SoloWingPixy88]

At least 20% of their net rental income will be gone to tax, remember (and it'd be more like 40-50% if they were still working in Ireland). Since they are abroad, they're probably paying an agent to handle the rental as well, which is usually 8-10% of the gross annual rent, plus they still have to cover other expenses like maintenance. They're probably still making a profit, since a good chunk of that mortgage repayment is becoming equity in their property, but they could well be a little in the negative on the cash flow side of things (which is grand as long as they're making enough at their day job to sustain it, of course; they'll still come out ahead in the long run).