Students face 4,000 euro rent bill
Published 16/08/2011 | 00:12
Students can expect to fork out up to 4,000 euro a year in rent is some parts of Dublin, figures have shown.
Property website Daft.ie revealed rents remained static in July - at an average 823 euro per month - after falling three years in a row between 2007 to 2010.
Economist Ronan Lyons said has been is a strong relationship between the number of properties available on the market and trends in recent years.
"The total number of properties available to rent at any one time in Ireland's five major cities rose from 6,000 on May 1 to 8,000 at the start of August," he said.
"The increase was pronounced in Dublin and unsurprisingly, having risen strongly for six months, Dublin rents stabilised in the last quarter."
Figures show rents were unchanged in Dublin and Galway, but rose strongly in Cork over the last 12 months by an average of 4.7% and dropped by 2% in Waterford and Limerick.
Mr Lyons said the latest figures will make interesting reading for more than 55,000 Leaving Certificate students who will get their results on Wednesday.
Compared with 2008, students renting a two-bedroom property could expect to save over the course of the academic year 1,500 euro in many parts of the country and up to 4,000 euro in some parts of Dublin.
The average cost for a double room in Dublin city centre is about twice the cost of renting in towns like Castlebar and Letterkenny.
Rachel Breslin, welfare officer at University College Dublin Students Union, said this year is financially challenging for students, who have suffered crippling cuts to the grant system and a 500 euro increase in the student contribution charge.