2021-11-08-莱坊-Dublin_PRS_Tenant_Survey_Report_7页_2mb

Dublin PRS Tenant Survey Summary

The Dublin Private Rented Sector (PRS) is undergoing a structural change, shifting from a fragmented private investor-led model to one with greater institutional ownership, driven by growth in institutional investment. This results in a rapidly expanding market, with predicted €1.5 billion in transactions for 2019, representing a 61% increase from 2018 and a 570% surge from 2017.

Key findings from the survey, covering over 1,200 respondents in Dublin, highlight preferences and challenges. Renters expect to pay approximately €1,200 per month, constituting about 38% of their net income. The largest tenant group is Nesters (28%), seeking one-bedroom apartments. Renting is preferred over buying due to factors like insufficient mortgage deposits (48%) or inability to buy, with affordability and tenure security being key considerations. Renters value ease of access to work, with 45% commuting within 30 minutes, contrasting with the UK, where affordability is prioritized.

The survey shows significant differences in preferences by tenant group, such as iGens (young adults) and Mature Families, who have varying demographic profiles and priorities. Comparisons with London and UK markets indicate that issues like high demand and longer lease searches (e.g., 49% of Dublin renters searching for over two months) strain the market and may hinder economic growth. Demographics like younger tenants drive demand, and location flexibility is high, with 68% planning short-term rentals.

In contrast to the UK, where reasons for moving include relocation, 30% of Dublin renters are forced to move, often due to landlord actions. The market favors investors, offering security and reliability in professionally managed properties, which appeals to long-term renters.

This evolving market places Dublin as a key player, with implications for national growth and investment.