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

  • September 21, 2020

The modern one-bedroom Dublin apartment featured an open-plan living space, a sun-soaked balcony, solar panels, ample storage space and parking for two cars. The location was ideal, as was the price: about $1,800 a month — $300 less than the previous tenant had paid.

In a city where lines to view rental properties have regularly trailed around the block, the new tenants could hardly believe their luck.

“We were not going to get this place,” Aoife Brannigan, 25, said of the months of fruitless searching that she and her partner, Shaun Gribben, 25, had undertaken before landing the apartment. “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 sent a chill through Ireland’s once-frenzied housing market, particularly Airbnb listings, which have been hit by a collapse in tourism. That drop, along with an exodus of people from overseas leaving Dublin because of the pandemic, has created a surge in available rental properties in the Irish capital — a shift that underscores how Airbnb’s presence continues to influence housing prices in popular cities.

Article source: https://www.nytimes.com/2020/09/21/world/europe/airbnb-dublin-rent.html

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