Parents buy homes for students as rents soar – Irish Examiner

Parents are buying properties for their college-going children as it is cheaper and easier than trying to find somewhere for them to rent.

Estate agents in Cork, Dublin, and Limerick have reported an increase in inquiries in the last 12 months, with many parents having no option but to buy.

Rents across the country have soared in the last few years. The Residential Tenancies Board’s latest rent index reported the average national rent exceeded €1,000 per month earlier this year.

In Cork city, the average rent is €1,177 per month, while those renting in Limerick pay €973 per month and in Dublin it is €1,691.

Property website Daft.ie reported record lows in the number of properties available to rent, and while many purpose-built student apartments are in the works, these will not be available in many areas for some time.

The CSO has reported that house price inflation is slowing

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