Average cost of room in shared accommodation is up by 0.3% in Dublin
A new report by daft.ie has found costs in rent have remained largely unchanged around the country for students
The latest Student Housing Report by property website daft.ie has found that the average cost of a room in shared accommodation is up 0.3% in Dublin.
However, the rest of the country has seen an increase of 2.8%.
It also found that in Dublin the average cost of a room is €680 per month and €462 in other parts of the country.
Ronan Lyons, economist and author of the report, said in a statement: “For students preparing for the 2020/21 academic year, there is little evidence of any Covid-19 effect on rents. Indeed, in most market segments of interest to students, rents may if anything be slightly higher than last year,”
“Given large increases in rents in recent years, a year with largely unchanged rents is perhaps not the worst outcome for students,”
Purpose-built student accommodation
The report has estimated that 50,000 student homes are needed in Dublin, Cork, Limerick and Galway. Currently, the amount of purpose-built student accommodation (PBSA) stands at 33,000. In Dublin, there are around 19,000 units available but 26,000 are required this year.
And while Dublin has seen an increase in PBSA’s in the last few years, Cork, Limerick and Galway have not. The report also outlined that demand for such properties could reach 64,000 units over the next ten years.
Trinity College Dublin has the highest rental costs in the country with prices of €2,756 a month on average. This is followed by University College Dublin, the Dún Laoghaire Institute of Art, Design and Technology, Technological University Dublin and Dublin City University. This is based on three-bed properties within 2km of the universities.
In Cork, a single room costs €493 per month on average and €593 for a double room. While in Connacht, on average a room will cost between €310 and €356 per month.
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