It’s that time of year again, and students from first to final year are on the hunt for a comfortable, and above all, affordable place to drop anchor for the year.
It’s that time of year again, and students from first to final year are on the hunt for a comfortable, and above all, affordable place to drop anchor for the year.
A lucky 8% of students will take up residence in campus-managed accommodation. However, no need for jealousy because there is good news this year for the remaining 92% of students who will be renting private accommodation.
According to letting agent Igor Fleming, “the supply of accommodation in Dublin has doubled in the past year and rents have dropped 10 to 15 percent.” He anticipates rents in Dublin to stay static, or perhaps fall again after the September student rush is over.
Nonetheless, students in the capital can expect to pay considerably more than their colleagues around the country. “The average student will pay almost €3,500 a year for accommodation, and that figure rises quite considerably for a student studying in Dublin,” said Shane Kelly, president of the Union of Students in Ireland.
A single room in Dublin’s city centre costs an average of €504 per month to rent. This figure decreases to €303 for Cork and Galway, and is halved in Limerick, at €245.
Despite the fact that this year’s rental market is friendlier than most, students remain a vulnerable group when it comes to landlords. This situation may worsen as Section 50 tax incentives on purpose-built student accommodation are abolished.
“When the tax breaks end, what you’ll see is young professionals moving in and students being forced out because rent controls won’t be there and rents will go up,” said Kelly. He added, “There will be a re-emergence of really shabby one-bedroom apartments or sharing a bathroom with 11 other people if we don’t do something about it.”
Twelve-month leases constitute an additional worry for students. “This means after the academic year has ended, students who have gone back home to earn money for the coming year end up continuing to pay rent on a place they’re not living in,” Kelly said.
Kelly’s advice is, “Be as proactive as possible, get out and view places, and talk to your students’ union accommodation office before you agree to anything.”
