Tenants spending 64% of take-home pay on rent in Greater Dublin area, survey finds
Photo by Jon Tyson on Unsplash
Tenants spending 64% of take-home pay on rent in Greater Dublin area, survey finds
Words: Dylan Murphy
The research also found that 36 per cent of people surveyed believed they would still be renting in 10 years.
According to a new survey published today, tenants are spending 36 per cent of their take-home pay on renting in Ireland. The research from the Residential Tenancies Board notes that around half of tenants are spending over 30 per cent of their net income on renting whilst that number rises massively to 64 per cent in the greater Dublin area.
The survey is one of the largest to take place in Ireland’s rental sector and suggests that in the next five years average rent prices will increase rapidly. It comes after 26 per cent of small landlords said they were planning to sell a rental property in the next five years and the expectation is this will coincide with bigger landlords increasing their market share. However, the report did note that generally relationships with landlords and tenants are good and there is “no real evidence of the stereotypical conflicts”.
It did highlight affordability as the key issue affecting renters, with many believing rental fees are out of their control.
Additionally, the research found that within the next five years 34 per cent of renters are expecting to be owner-occupiers. That news came with the caveat that 36 per cent of people surveyed believed they would still be renting in 10 years.
The report from the Residential Tenancies Board is made up of the findings from 1,038 face-to-face surveys with tenants and 500 telephone surveys with landlords.
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