How the lockdown freeze created a tenant’s market

In a steep correction, rents have fallen 14 per cent in central Dublin and suburbs since the outbreak of the coronavirus last March

‘Some 78 per cent of our apartment sellers this year are investors exiting the market. The obvious consequence is that the amount of available rental stock continues to deplete. I believe there will be another rental crisis within 12 months in Dublin.’

It would be fair to say that Covid-19 has impacted the Docklands market more than any other location, given the cluster of technology companies.

The start of 2020 was very encouraging, after a flat end to 2019. But the arrival of Covid-19 effectively froze the Irish property market.

While our business quickly pivoted to be conducted remotely and virtually, market activity was a fraction of its pre-Covid-19 level as a result of in-person showing restrictions.