The Irish Times view on the rental market: the rent trap generation – The Irish Times

If you can’t afford to buy a home, renting is cheaper. That was the age-old rule of thumb, but it not longer applies. According to figures in Daft’s most recent rental report, repaying a mortgage on a typical three-bedroom home is now less expensive than paying rent in nearly every region in the country. Only in the two most expensive areas to buy property – Dublin 4 and Dublin 6 – is repaying a mortgage on a typical home more expensive than paying rent.

The same report suggested the average monthly asking price for rent nationally stood at €1,477 in the second quarter of 2021, up 5.6 per cent year on year and almost double the €742 figure recorded in 2011. The average monthly asking price in Dublin stood at an eye-watering €2,035.

And this is happening at a time when mortgage rates have never been cheaper and

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