Madam, – Can any economist explain why the cost of renting a holiday home in Ireland in the summer months has not declined in line with the reduction in property values and the general reduction in prices, including restaurant prices and hotel room rates?
Rents are the same as five years ago at the height of the boom, anywhere between €700 and €900 a week in July and August. A holiday home can be rented in other parts of Europe, eg UK and France, for much less, sometimes half the price.
Ireland needs tourism like never before; why the disincentive to overseas visitors who have multiple choices on where to holiday? – Yours, etc,