Property Consultants, Savills, has expanded its lettings business to include one-off lettings. The firm say that the substantial increase in the demand for rental properties – a trend they expect to continue – made the expansion commercially viable. 

Rents in Ireland increased by 7.1% in 2013 compared with a figure of just 2.2% in the previous year. In Dublin, they increased from 4.9% to 11.2% over the same period1.

Clarie Neary, Head of Residential Lettings with Savills said, “Savills has been specialising in block lettings for many years. However, with our established team of lettings experts, and a very active rental market, it made sense for us to expand into one-off lettings. The demand for the service is growing rapidly as the market becomes increasingly buoyant due to short supply”.

Ms Neary also noted an increase in the number of landlords investing in their property:

“A recent trend has emerged in the market where landlords are upgrading their property with a view of increasing its rental value. It can be as little as a paint job to repair minor scuff marks or a more substantial investment such as re-fitting the kitchen or bathroom. In a lot of cases it has proven worthwhile, with landlords making a return on their investment within 6 months.”

Savills one-off lettings will base their operations in their City Centre branch on Dawson Street. The service will be managed by Anna Greene.