Hundreds of luxury Dublin apartments with rent of over €2,000 a month are lying empty.
The Business Post has published it's analysis of the Residential Tenancies Board, it shows that a large number of units are unoccupied.
Over half of the Capital Dock apartments were empty last month, they charge between €3,500 and €10,000 per month.
City Councillor and Housing Committee member Cieran Perry says they'd be occupied tomorrow if they weren't so expensive:
"With the demand that's currently out there for reasonable rents, they'd be all filled in the morning. I have no doubt about that."
"The concern I would have is that is that the sole purpose of keeping apartments vacant is to ensure high rents are maintained across the city."
Analysis of the RTB register has shown that a number of recently developed apartment blocks – charging between €2k and €10k a month – have a large number of vacancies.
“Policy has crowded out all but the most expensive housing solutions" Lorcan Sirr housing lecturer TU Dublin
— Killian Woods (@killianwoods) February 23, 2020
Other developments have a high number of vacant units, such as Six Hanover Quay, Number One Ballsbridge and Quayside Quarter.
As a result one company is even offering four weeks free rent in an attempt to charm new tenants.
Councillor Perry says units like these would help people get out of their parents' homes if they weren't priced at the high-end.
"While the numbers are relatively low considering the amount of people even in emergency accommodation."
"Let alone the housing list and not including those who are sofa surfing with family and friends."
"Even a couple of hundred units would have an impact if they were reasonable rents."
"It would help people get out of emergency accommodation and out of the family home."
— Business Post (@businessposthq) February 23, 2020
Dublin was named the worst in the world for housing before Christmas.