Saturday 10 December 2016

Landlords feel force as 'Star Wars' effect boosts short lets

Published 14/06/2016 | 02:30

The cost of renting a larger home in Co Kerry has rocketed over the last 12 months, prompting suggestions that a ‘Star Wars’ effect is in play.
The cost of renting a larger home in Co Kerry has rocketed over the last 12 months, prompting suggestions that a ‘Star Wars’ effect is in play.

The cost of renting a larger home in Co Kerry has rocketed over the last 12 months, prompting suggestions that a 'Star Wars' effect is in play.

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An apartment with four bedrooms or more shot up in price across the county from €445 a year ago to €732 today, an out-of-this- world increase of 64pc.

The hike is also confirmed in Tralee, where this property type rose 63pc to €735 per month. The increases are the largest of any property type across the county, and could be related to the shooting of the sci-fi film, starring Mark Hamill.

David Duffy from the ESRI, which compiles the RTB's Rent Index, said that short-term lettings tended to attract a premium, which could result in higher monthly rents. "It could be that," he said. "They would boost the rent in an area because they're for a number of months. Instead of paying €1,000 a month, it could be €2,000. So it could be the 'Star Wars' effect."

But he urged caution in putting the hikes down solely to the arrival of a Hollywood film crew. "When you look at county level data, you're talking about averages," he noted. Rents in Kerry rose by an average of 5.4pc last year across all property types.

Irish Independent

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