DAFT Commentary on the Rental Market. The Recession Diaries February 16th

The latest DAFT report is out covering rents.  I have written the quarterly commentary which can be read here (and thanks to Ronan Lyons for inviting me to write the commentary).  The headline news is that rents have 'stabilised' and have started to rise - though whether this presages a long-term upward trend remains to be seen.  However, I go behind the numbers to examine a

' . . . fragmented, under-capitalised 'cottage' industry lacking the professionalism and modern synergy with a strong regulatory culture that prevails in other EU countries.'

With demand for rental accommodation likely to rise in the long-term, we need a sector that can provide life-long living options for single people, families with children, elderly - all the various demographic groups.  But the Irish rental sector, long ignored by Governments, is not as currently structured, up to it.  How can we transform it?  Go have a read.

Comments

[Ronan L]

Hi Michael

Thanks again for doing the commentary.

Incidentally, might I say, I particularly like the term "cottage industry", with its both positive and negative connotations, as a description of the Irish rental market.

[Bron]

Thanks for raising this issue again. Having lived in Amsterdam for several years, Irish rental laws are virtually barbaric. The 'civilized world' recognizes that not everyone can or will buy their home, so it's possible to rent your home for life (and often onto the next generation).

It took great effort to bring into force the Tenancies Board, along with some new legislation. Who were the main players?

If you and others are interested in taking this project further, please count me in!