Tourism Slump in Dublin Lays Bare Airbnb’s Damage to Rental Markets

The fashionable one-bedroom Dublin condo featured an open-plan residing area, a sun-soaked balcony, photo voltaic panels, ample cupboard space and parking for 2 automobiles. The location was preferrred, as was the worth: about $1,800 a month — $300 lower than the earlier tenant had paid.

In a metropolis the place traces to view rental properties have repeatedly trailed across the block, the brand new tenants might hardly imagine their luck.

“We were not going to get this place,” Aoife Brannigan, 25, mentioned of the months of fruitless looking out that she and her accomplice, Shaun Gribben, 25, had undertaken earlier than touchdown the condo. “I couldn’t see it happening had this not happened. We 100 percent benefited from this.”

The “this” she was referring to was the coronavirus, which has despatched a chill by means of Ireland’s once-frenzied housing market, notably Airbnb listings, which have been hit by a collapse in tourism. That drop, together with an exodus of individuals from abroad leaving Dublin due to the pandemic, has created a surge in out there rental properties in the Irish capital — a shift that underscores how Airbnb’s presence continues to affect housing costs in widespread cities.

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