Less than 5 per cent of the State’s rental properties were built in the last 10 years, according to a new report by Central Statistics Office (CSO).
In contrast, about 45 per cent were built during the Celtic Tiger era (between 2001 and 2010).
The finding illustrates the sharp drop-off in building rates that occurred after the 2008 financial crisis, which preceded the current supply shortfall.
Property website Daft.ie said there were just 1,460 homes to rent on its website as of November 1st last, the lowest number since its data series began in 2006. This included just 820 in Dublin.
The CSO’s Rental Sector in Ireland 2021 report, developed in collaboration with the Residential Tenancies Board (RTB) and the Department of Housing, noted that a “very small proportion” of rental properties were built in the period after 2011. However this grew from 1.2 per cent in 2017 to
Continue reading this atricle at https://www.irishtimes.com/business/economy/less-than-5-of-rental-properties-were-built-in-last-10-years-1.4731212