25 February 2025
By Valerie Ryan
valerie@TheCork.ie
Ireland’s Housing Crisis
The latest Daft.ie report confirms that rents in Cork are more unaffordable and unsustainable than ever, according to Social Democrats TD Pádraig Rice.
Deputy Rice, who is a TD for Cork South Central, said:
“The latest figures show that rents are utterly unaffordable. Last year, advertised rents in Cork rose by an average of 10 per cent, which brings the average rent on the open market to €2,097 – a staggering 50 per cent higher than pre-Covid levels in 2020. For most earners, this level of rent is simply unsustainable.
“The average advertised cost of renting a double room in the city is now over €700 per month. Meanwhile, a single bedroom costs a staggering €620 per month.
“Yet despite this crisis, the Government wants rents to go even higher to suit investor funds.
“The Social Democrats have put forward alternative solutions. We want a three-year rent freeze and for Rent Pressure Zones to be retained until a new system of rent regulation – one that offers proper protections for tenants – is put in place.
“It’s clear that the Government’s housing policies have failed. We don’t need more expensive build to rent apartments provided by investor funds. Instead, we need a reset of housing policy and the accelerated delivery of homes that are genuinely affordable to buy or rent.”