Dublin, Ireland as seen during a recent AIRINC cost of living survey.
Demand outweighing Supply
Residential rents continued to rise in Dublin and throughout the country even as sales prices stagnated. With hundreds of international pharma, medical device, and tech companies employing thousands of local transferees and expat assignees in Dublin, the city has long suffered a rental crisis with an undersupply of rental stock and huge demand from professional national and expatriate workers. To exacerbate the supply problem even more, many long-term lettings are being converted to short-term via services like Airbnb.
With BREXIT looming and Ireland offering a friendly business market, the country has recently attracted even more multinational companies including leaders in tech, social media, professional services and financials. Particularly for finance and banking companies, Dublin has become a new hub for EU or EMEA headquarters.
The Irish government has taken some steps to curb inflation by introducing a 4% cap on rent increases and also removed a long-standing law restricting the height of new apartment buildings. Nevertheless, supply and development of new supply remains limited.
Your International Housing Needs
Does this sound familiar: while on assignment, your employees want the flexibility to choose the rental housing that meets their specific needs? And who wouldn't want that?
But, as a result, this is driving you to spend time researching housing costs in order to defend budgets based only on bedroom count.
There's a simple solution to make 2019 your best year in housing yet! Use AIRINC's flexible approach that mirrors the way assignees experience a market. Access ready-to-use housing budgets by job level/grade and family size for expatriates and other cross-border assignments.
Calculating Housing Budgets Has Never Been Easier!
Our budgets are based on real world rents created across different unit types and neighborhoods in each host city. This allows your assignees to make trade-offs and get the home that’s right for them. We do the work, so you don’t have to! Housing budgets can be accessed with the rest of your data — COLA, hardship, tax, and more — available through our International Assignment Calculator. Click here to access a recording of our recent demonstration of this tool or contact us to get your 2019 budgets.
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