A recent report shows rents may not be covering mortgages for some homes in Kerry.
According to the quarterly rent report from Daft.ie, mortgage repayments on many homes in the county cost more than the average rental income.
This means some homeowners, who rent out a secondary property, may not be covering their mortgages with monthly rent.
In the report, Daft.ie tried to determine if it’s cheaper to rent rather than purchase a home in the county.
Daft assumed mortgage repayments based off a 3.75% variable mortgage, for a term of 30 years.
For a 1-bedroom apartment, monthly repayments on a mortgage come to under €300, which is €230 cheaper than the average monthly rent.
The average rent for a 2-bed house is almost twice the mortgage repayments of nearly €340, and a similar trend is seen for a 3-bed home, with average repayments being €480.
However, in relation to 4-and 5-bed homes, mortgage repayments are higher than the average rental income; mortgage repayments on both homes are well over €900 per month, while the average rent varies between €790-€870.