It is now €500 a month cheaper to buy a suburban home in Dublin than to rent.
That’s according to research by Cairn Homes.
The developer based the claim on the example of a three-bed house at its Parkside scheme in Dublin 13.
The real cost of buying a €334,750 home is now €494 a month less than the equivalent rent for a couple with a joint income of €86,000, Cairn said.
The gap between rental costs and buying has widened even though house prices are rising.
Compared to 2014 it is now 37% cheaper to buy than rent – even factoring higher wages and house-price inflation, Cairn said.
Cairn Homes said it sold 418 residential properties in 2017, up from 105 in 2016. Amongst the developments they are responsible for include Churchfields in Ashbourne, Glenheron in Greystones, Elsmore in Naas, Marianella in Dublin 6 and Parkside in Dublin 13.