The Republic of Ireland is a popular business destination with modern infrastructure, vibrant cities, and a strong focus on technology, finance, and pharmaceuticals. With lively streets, charming villages, delicious food, and friendly locals, Ireland is an inviting relocation destination.
In this two-part series, we’ll explore the global mobility landscape of this location. Let’s begin by examining the rental market, starting with a short historical background.
Ireland’s housing market has faced long-standing challenges, which have worsened since the pandemic, making today’s market challenging.
Currently, rental conditions in Ireland are challenging, with supply shortages and rising prices across the country. Affordability and availability issues persist in Dublin, as the city needs around 15,000 new apartments annually to meet current demand. While cities like Cork, Galway, Limerick, and Waterford are also facing challenging conditions, with soaring prices and reduced availability.
Nationwide, rental prices have increased by over 7% on average, compared to last year, with high inflation and limited availability driving up rents and reducing choices for renters. The ‘45% rule’ (guideline used by agents and landlords to ensure a tenant’s potential rental budget does not exceed 45% of their budget) for rental payments is now widely implemented, up from the previous 40%.
Considering these complexities, companies can ease the transition for their relocating employees by offering adequate temporary housing accommodations. Cartus collaborates with more than 150 on-the-ground providers in Ireland to ensure your employees find a suitable property.
Within the more mature Dublin market, you will find a mix of serviced apartments and aparthotels. However, there are limited co-living options because the city is filled with studios and one-bedrooms, few two bedrooms, and very few three bedrooms. Temporary living options range from midscale to high-end, including VIP options.
Elsewhere in Ireland, we are working within emerging markets in places like Cork, with mostly mid-range quality, limited VIP options, and a mix of one and two-bed units. In other locations (Galway, Limerick, Kilkenny), the extended stay market is still developing, with inventory mainly offered by private hosts online.
Whilst the demand for interim housing is higher this year than last, the availability is balanced, with new properties coming onto the market. Pricing continues to be seasonal, but it is growing overall.
At Cartus, we collaborate with our on-the-ground partners in Ireland, who have experience, expertise, and connections in the local market. They can view vacant properties before they hit the open market and support assignees through the rental process, ensuring they present well to landlords. There is a high demand for shared apartments, and our supplier partners have adapted their services accordingly.
We work with our local partners, our clients, and their assignees to assuage any stress resulting from the challenging market.
We appreciate our supplier partners—Synergy Housing, Corporate Care Relocation, Dwellworks Ireland, Fragomen, Oman Beverly Smyth—for providing their on-the-ground expertise for this blog series.
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