A recent report from the RTE found that “the cost of a bed that can be used on a small flat is now more than $1,200, up from $965 in 2016”.
It said the rise in bed prices was a “key factor” behind the rise of low-cost rental platforms.
The report said the price of a single room on a low-floor apartment was “now more than double that of a standard flat” and that “low-floor apartments can be rented for $1.2 to $2,000”.
“The rise in price of cheap platforms is a key factor behind the emergence of the ‘platform revolution’, as they are now available to almost any family,” it said.
“As more of the population are renting from these platforms, they are also becoming increasingly popular.” “
Mr Fergus said that while “there is a realisation that there is more competition than ever” the competition “is going to come down to the last penny”. “
As more of the population are renting from these platforms, they are also becoming increasingly popular.”
Mr Fergus said that while “there is a realisation that there is more competition than ever” the competition “is going to come down to the last penny”.
“In some instances, the last pennies are going to be the most important factor.
In other instances, it will be the difference between a rent or a flat,” he said.
Mr Ference said that as more families were renting out their apartments, they were being forced to look for alternatives.
“In other parts in Ireland, there’s more competition and there’s going to have to be some consolidation to allow families to afford their rents, but in Cork it’s a completely different story,” he told RTE.
“There’s going be a lot of competition.
In Cork, the rent-to-own has gone from 50 per cent of the apartments to 90 per cent, and the share of low income families is now much higher.”
The report was commissioned by the RTA to assess how the “platform revolution” had affected the rental market in Ireland.
The study found that the rise is partly driven by an “unhealthy glut of rental beds” in Cork, which has a population of nearly 13 million people.
The RTA has also discovered that rents in some parts of the country are “higher than rents in other areas” due to the rise.
However, the report said that the situation is “less clear in Dublin”.
The report found that of the number, 80 per cent were renting for less than $5,000 and that more than half of the rent was for “basic accommodation”.
The RTE report also found that in Cork the number renting for under $5 was “significantly higher” than in Dublin.
It found that, of the total number of apartments available in Cork’s central business district, “a large proportion” were occupied by people “who are renting out apartments for under a month”.
“We know the Dublin area has a relatively high proportion of apartments being occupied by renters.
However the RDA [Local Government Association] estimates there are approximately 2,000 rental apartments in the Dublin district alone, and we do not have data to verify this figure,” it noted.
“We also have anecdotal evidence that a significant proportion of rental units are occupied by households earning below the rent threshold.”
Mr Dermott said that although there had been a “huge” increase in rents in Cork over the past year, the increase was a result of the “unfavourable weather conditions” in the capital.
“What is happening in Dublin has happened elsewhere in Ireland,” he added.
“So what we’re seeing is the cost of renting a room has risen to a level where, for many families, it’s not affordable to rent in Dublin.”
The Rta said it has “no doubt” that “there will be a reduction in the number and size of rental flats” in Dublin in the coming years, and said that “this will have a significant impact on affordability and affordability is a factor in the rise” in rents.
However it noted that there was “a risk that the increase in rent is not reflected in the real estate market”.