The economic downturn leaves the property market with plenty of homes available for rent.
The cost of renting a home has fallen by an average of twelve per cent. With homeowners unable to sell properties, many are choosing to let out their homes. It is a good time to be a tenant, says Julia Buethe who has been renting in Ireland for the past thirty years.
You can get a much better place for less money than before.
Rents in south Dublin have fallen the most, while Munster has the greatest number of properties available to rent.
Could renting a home take over from buying it? Economist Ronan Lyons believes although property prices have come down a lack of confidence in the property market remains.
Optimistic estate agents are bracing themselves for an upturn, with some reporting an increased interest from potential buyers.
A recent survey found that sixty three per cent of buyers felt they had bought at the right time, and had been able to,
Negotiate a fair price.
An RTÉ News report broadcast on 17 February 2009. The reporter is Sharon Tobin.
