Has Dublin built too many luxury apartments?
While ‘affordable’ landlords like Ires Reit flourish, higher end may struggle to attract tenants
There must now be a risk of a glut at the top end of the market – at least in the short to medium term. Figures compiled by Goodbody show that about 45 per cent of properties available for rent in Dublin have rents in excess of €2,000. File photograph: iStock
It’s not what one might expect in the midst of a prolonged pandemic. Property prices, we’ve been told, continue to rise because the people most affected by the pandemic, such as those working in retail or hospitality, typically rent rather than buy a home.
Yet, as last week’s annual results from Ires Reit show, the rental market is far from a poor relation.