A new report published today has revealed that 92% of renters in Dublin Docklands are coming from abroad to work in the city – and they are pricing locals out of the rental market.
The Docklands Residential Report 2020 is published by Owen Reilly Estate Agency which sells and rents homes in the area.
They found that almost all renters have travelled to Ireland – mostly to work in technology and banking sectors in Dublin.
Rent now stands at an average of €2749 per month in the Dockland area – and just 8% of those renting are Irish tenants the report says.
It also reveals that 52% of tenants in the Docklands are from other EU countries, with growing numbers also coming in from the USA and India.
Companies like Google do not reveal what percentage of their workforce is Irish.
With most of those coming from abroad to renting being high earners, big investment funds are predicted to buy every apartment block coming on the market in the area this year.
Owen Reilly says another worrying trend is that almost three-quarters of those leaving the rental market in the Docklands are traditional small landlords.
Meantime, in sales of second-hand properties, Irish buyers have dropped from 73% a year ago to 62%.