Dublin has been experiencing a housing crisis for a long time, with very high rental and housing prices. However, the crisis caused by the Covid-19 pandemic caused an increase in the supply of rental properties.
Many homeowners are believed to have removed their properties from sites for short-term rentals, such as Airbnb, and are offering them on the market.
According to the website Daft.ie, the rental offer in Dublin has grown 64% since the beginning of March. There are already more than 400 new ads, compared to 242 in the same period last year. Many of the properties are characteristic of Airbnb listings, such as one- or two-bedroom apartments in the city center.
According to economist Ronan Lyons of Trinity College, the increase in supply is linked to the drastic drop in tourism and the demand for short-term rentals in the capital. Most of the country has not experienced a sharp increase as seen in Dublin, where demand for this type of rental is highest.
Still, Lyons says the move is not enough to make rents more affordable in Dublin, and that demand for new housing construction still exists.