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vman7

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I posted a while back questioning the high rents in Belfast and i am still looking for a place. For a really nice 2 bedroom apartment in belfast you are talking anywhere between £700 - £750. Does anyone else think this is ridiculously high!?

I thought that maybe there would be room for negotiation on the rent but there doesnt seem to be any budge at all. The worst thing is that these apartments are like gold dust and people seem to snap them up right away

Can someone explain why they are so high and better yet why people are paying these silly prices

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Yes - i know of quite a few new workers to our company have had to be super quick in order to get decent apartments near the city centre. Not sure why though.

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I posted a while back questioning the high rents in Belfast and i am still looking for a place. For a really nice 2 bedroom apartment in belfast you are talking anywhere between £700 - £750. Does anyone else think this is ridiculously high!?

I thought that maybe there would be room for negotiation on the rent but there doesnt seem to be any budge at all. The worst thing is that these apartments are like gold dust and people seem to snap them up right away

Can someone explain why they are so high and better yet why people are paying these silly prices

This seams strange as I would assume there is an oversupply of apartments to rent. Decent houses may be another matter.

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the obel seems to be starting to fill up a bit more now. i imagine the ones that have moved in are mostly renters. maybe there are a lot of people out there who do fancy living in the city centre, but aren't keen on buying?

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i can understand the high demand for people to rent since they cant save a deposit but paying £700 upwards is silly and in my eyes is the same thing as buying a house at above ratebale value!

how can i expect to put a deposit together when i have to fork out £700 (minimum) a month rent for an apartment.

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Yes - i know of quite a few new workers to our company have had to be super quick in order to get decent apartments near the city centre. Not sure why though.

That's the problem there. From what I can see, a lot of companies are hiring, a lot of these folks seem to be coming from outside of Belfast, and this is leading to much increased demand. If you move out of the city though, rents are static/slightly falling.

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how can i expect to put a deposit together when i have to fork out £700 (minimum) a month rent for an apartment.

Rent a house. These are cheaper.

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i can understand the high demand for people to rent since they cant save a deposit but paying £700 upwards is silly and in my eyes is the same thing as buying a house at above ratebale value!

how can i expect to put a deposit together when i have to fork out £700 (minimum) a month rent for an apartment.

House-share?

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i can understand the high demand for people to rent since they cant save a deposit but paying £700 upwards is silly and in my eyes is the same thing as buying a house at above ratebale value!

how can i expect to put a deposit together when i have to fork out £700 (minimum) a month rent for an apartment.

...plus management fees for servicing...another £40+ a month

flats are such a rip off

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house share is not an option as i will be moving in with the mrs.

Anyone else out there feeling my pain?

Not really. I see the appeal of a flat with regards to location but that’s pretty much it. Still seems to be a few at £600 in the city centre on property news. I think you'll find the flat prices are being kept high due to the fact its not private individuals renting them out. If it were private people I'd imagine there be much more competition. Just look at Obel and the Arc it seems to me they can afford to keep the apartments vacant for extended periods and not reduce the rent. It’s almost as if the mortgage payments don’t matter which makes me think it’s probably some company managing the lot. Wouldn’t be surprised if it was one of the bank’s companies used to take them off the balance sheets.

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Not really. I see the appeal of a flat with regards to location but that’s pretty much it. Still seems to be a few at £600 in the city centre on property news. I think you'll find the flat prices are being kept high due to the fact its not private individuals renting them out. If it were private people I'd imagine there be much more competition. Just look at Obel and the Arc it seems to me they can afford to keep the apartments vacant for extended periods and not reduce the rent. It’s almost as if the mortgage payments don’t matter which makes me think it’s probably some company managing the lot. Wouldn’t be surprised if it was one of the bank’s companies used to take them off the balance sheets.

Were Karl who own the obel not forced to open a rental arm of the company specifically to rent the back log of obel apartments when they didn't sell?albeit this was formed well after the building opened.I presume this was used as a 'goodwill guesture' towards the bank,to show that they were trying to repay loans when they didn't sell the majority of flats in their building.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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