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Why has rent increased in Northern Ireland

13.02.2023
Why has rent increased in Northern Ireland

Rents for housing in Ireland increased by 13.7% in the last quarter of 2022 compared to the same period in 2021.

On average in the country, it reached €1,733 (135 thousand rubles) per month. The price growth was uneven, in Limerick prices increased by 18.9%, in Waterford — by 20%. At the same time, in Dublin, prices at the end of 2022 exceeded €2,300 (180 thousand rubles), the average rent for an apartment for one person in Limerick is € 1,124, for a house for three — € 1,573.

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Details about property law in Northern Ireland

It is noted that the shortage of housing is due to low construction rates. Last year, about 30 thousand houses were built, which is not enough for the 5.1 million population of the country. The newspaper claims that the housing situation is aggravated by the influx of refugees into the country. Over the past year, more than 70 thousand of them arrived from Ukraine and more than 19 thousand from other countries.

As of February 1, only 1,096 objects were available for rent in the country, 20% less than a year before.

“Among the most affected cohorts are young people, while the average adult age of leaving the parental home has increased by almost 50% over the past decade,” Ronan Lyons, an associate professor of economics at Trinity College Dublin, commented on the results of the study.

It is expected that the aggravation of the housing situation will lead to another increase in the number of homeless people. At the moment, according to official statistics alone, there are 11,600 homeless people in the country, of which 3,500 are children.

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