Stable signs for city centre rental market
Rents for Dublin city centre residential properties are showing signs of stabilising after falling for the last two years. However, the latest CSO data on privately owned rental properties reveal that rents have fallen by 10.9pc nationwide in the 12 months to February 2010.
Nevertheless Sherry FitzGerald Lettings point out that The CSO figures showed a fall of only 0.7pc in the first two months of this year.
Eileen Sheehy, Sherry FitzGerald Lettings says one bedroom apartments are now achieving on average €1,000 per month in the IFSC, an increase of over 10pc on levels achieved in the autumn of 2009.
Rental levels of two bedroom apartments in the IFSC have increased by over 15pc since the autumn. Comparable, two bedroom apartments in the south city centre are achieving €1,300 per month.