Brendan Burgess
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Lead article by Charlie Weston in the Irish Independent today.
Mortgage payments are now lower than renting
Mortgage payments are now lower than renting
A survey of 15 large centres around the country has found that it is now cheaper to buy than to rent a typical three-bed home.
Figures compiled by Daft.ie show that monthly mortgage repayments on a typical three-bed house were less than it could be rented for in 15 parts of the country.
In North County Dublin it costs €1,125 to rent a three-bed house, but it could be bought with an 80pc mortgage for a monthy repayment of €968.
In Galway city rents for three beds are typically €822 a month, but repayments amount to €771 for those with a 20pc deposit, borrowing for 30 years at 4.3pc.