Generation Rent vs Emerging Firms in Dublin’s Fair City: Our Solution
Dublin’s Generation Rent continues to suffer as a result of an abundance of emerging infrastucture. According to recent reports, we now have more office buildings than we do homes in our capital city. We are beginning to find ourselves with a generation of young adults who, because of high house prices, live in rented accommodation and are regarded as having little chance of becoming homeowners. What can we do?
Just last week, planning permission was granted for a 7,000 sq ft Harbour Innovation Campus in the former Ferry Passenger Terminal building in Dún Laoghaire Harbour, as well as the announcement of Trinity College’s new €1bn 5.5-acre campus and the Grand Canal Innovation Quarter.
We ought to be jumping for joy, yet, in the midst of Dublin’s success’ in attracting new firms and infrastructure; the spirit of Irish people is being dampened by the increasing cost of living. According to Daft, rental prices in Dublin have hit a record high of approx €1,900 per month, which is nearly on par with cities like London. As a young post graduate, I was looking at paying €475 for a bed in a shared room in South County Dublin just last week. Leaves you kind of speechless, right? Me too!
We are so delighted to see our capital city going for growth but there was a wave of disappointment after reading Silicon Republic’s latest article detailing, “most of those cranes [in construction sites] are building office towers, not homes. And if we don’t strive for balance and ensure Dublin remains affordable for workers of all ages, Dublin will over time lose a battle for its very soul”.
Furthermore, “the rent problem is casting a veil of sadness over the city, hurting people just trying to get by, slowly but steadily sapping its spirit.” This describes the situation in a nutshell and it is rather dire at that.
Dublin is still very much alive but it is no longer a city for young people, or anyone not earning a generous salary with benefits from an exceptional job. The Tech firms who are creating new jobs are typically attracted to vibrant places where young people can start companies and afford to upskill themselves thus enabling businesses to acqui-hire technology and people. If we live in a capital city where inhabitants can hardly afford rent, let alone a mortgage, how do we propose up skilling?
While we rely on politicians and planners to act decisively in controlling the rent crisis to make Dublin liveable again, we can contribute to the #FutureOfWork by developing our skills in technology, software and employee agility. By nurturing our SmartWorking skills and utilising technology, we can offer new firms our skills without the need for building new HQ’s. We need to curb the construction of endless office buildings and instead, ensure adequate housing for the people of Dublin. Incorporating SmartWorking methods is a no brainer in terms of empowering the skilled workforce and the future of Ireland.
This change will not happen overnight, but by SmartWorking and utilising remote and flexible positions, we can make the future of work prosperous!
Find out more about our SmartWorking companies by clicking here