Monday 24 April 2017

It's easy for property giants to buy homes - but not us

There seems to be a policy of social engineering in Ireland to force the young out of home ownership and into property giants' hands

FEELING BAD: David Ehrlich, Ires chief executive
FEELING BAD: David Ehrlich, Ires chief executive
Brendan O'Connor

Brendan O'Connor

You don't hear many people talking these days about how pleased they are with how rents are rising in Ireland. Residential rents have risen nearly 20pc in a year in some parts of the country and according to Daft.ie, rents are now a staggering 10pc above their previous peak in 2008.

This is despite the fact that property prices are still a third off their boomtime peak. In broad terms this means that average yields - income from property as a proportion of the cost of property - are up by more than a half.

So while these rising rents spell misery for most people, it's a great time to own a load of properties in Ireland, especially if you bought them on the cheap when Nama was having the sale of the century.

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