DCU yet to act on falling rent prices

DCU Campus Residences has yet to outline its position on rent rates for the upcoming academic year despite falling rent prices throughout Dublin.

This comes in light of indications from nearby student accommodation Shanowen that there may be a drop in their accommodation prices for the new academic year.

Lorraine Rabbitte of Shanowen Student Accommodation said they “could foresee a reduction in their prices for the 2009/2010 academic year.”

She insisted however that nothing has been finalised by management as yet.

Currently, 36 weeks of accommodation at Shanowen costs students €4940. On DCU campus, accommodation for the academic year ranges from €3969 to €4590 depending on the type of accommodation.

Estate agents across Dublin have noticed a significant drop in rent prices in recent months. And according to Sharon
Delaney of www.movehome.ie, the area around DCU is no exception.

“Without doubt, there has been a decrease in rent prices in recent times. In the Dublin 9 area, there has been a drop of 1% in the past six months,” she said.

Conor Martin, of Martin Auctioneers in Drumcondra believes further reductions in rental prices will follow as a result of the economic downturn. “There has been a quite significant fall in rent prices in only the past few months and this is sure to continue as the Irish economy deteriorates.”

With this significant fall in rent rates across the board, DCU students could expect Campus Residences to strongly consider reducing their prices for the upcoming academic year.

When approached by the College View on several occasions, Campus Residences refused to comment on the
issue. Daniel O’Connor, of global property company Jones Lang LaSalle believes that if the cost of the provision of accommodation by DCU has fallen, students should see their rent costs fall.

According to O’Connor, “If the cost of the provision of campus accommodation has fallen in the past 18 months, it is safe to say that the cost saving should be passed onto the students.”