We here at O'Driscoll Auctioneers regularly see how shifts in the Irish rental market change the supply of properties available to buyers. One pattern in particular has become impossible to ignore over the past two years. A steady stream of smaller landlords are choosing to exit the rental market and put their properties on the market for sale, and the numbers continue to climb.
This matters to anyone thinking about buying a home in Ireland in 2026. It changes the type of property available, the dynamics of how those properties are sold, and the options open to buyers who are alert to what is happening.
The reasons landlords are leaving are well rehearsed. Mortgage interest costs are higher than they have been for over a decade. Compliance obligations under residential tenancy rules have expanded. Tax treatment remains less favourable than other forms of investment. Rent Pressure Zone rules limit how landlord income keeps pace with rising costs. Many landlords entered the sector as accidental investors a decade or more ago, when prices were lower and the rules were simpler, and they are now choosing to step back rather than continue.
The result is that a growing share of properties coming to the market are former rental properties, often sold with vacant possession after the existing tenancy has ended.
For buyers, this creates real opportunities, but also some specific considerations.
The first opportunity is choice. In many parts of the country, the supply of second-hand properties is closer to pre-pandemic norms than it has been for several years. Dublin in particular is seeing more stock than it has had at any time since the rental market began to tighten. Buyers have more to look at, more time to consider, and more room to be selective.
The second is a softer pricing dynamic. Many of these properties come to the market with motivated sellers. The landlord is not selling to upgrade or to relocate. They are selling to leave the sector. That tends to produce more realistic asking prices and more openness to negotiation than buyers may have experienced in recent years.
The third is the chance to compete in less crowded bidding processes. With supply easing, the bidding wars that defined the post-pandemic period have softened in many areas. Buyers who are well-prepared with mortgage approval and a clear position can often secure properties without paying significantly above asking.
These opportunities come with some specific things to watch for.
Ex-rental properties have often been let for many years, sometimes a decade or more. Maintenance standards vary considerably. Some properties have been well maintained throughout. Others have had only essential repairs done, with cosmetic standards drifting and longer-term upgrades deferred. Buyers should inspect carefully and budget realistically for the work the property may need.
BER ratings are a particular consideration. Many ex-rental properties carry lower BER ratings than the broader market. Some were built or extended before modern insulation and ventilation standards. Others have not been retrofitted because the landlord did not see a sufficient return on the investment. A lower BER affects mortgage options, future running costs, comfort, and resale value. It is not necessarily a reason to walk away, but it should be priced into the decision.
The condition of bathrooms, kitchens, windows, and heating systems should also be assessed honestly. Ex-rental properties commonly need updates in these areas, and the cost can be material. A buyer planning to occupy the home themselves often finds that the budget for post-purchase work is larger than they initially expected.
Tenancy status is another point worth checking carefully. Most landlord-sold properties come with vacant possession. Some, however, are sold with a tenancy in place, particularly where the seller is selling part of a larger portfolio rather than exiting entirely. The contractual position of any existing tenant must be understood before any offer is made, since it affects when the buyer can occupy and what obligations they take on.
Energy upgrade grants are worth investigating early. Properties that need a meaningful retrofit may qualify for SEAI grants, and the financial picture can change significantly when those are taken into account. Solicitors and surveyors can usually advise on what is available and what is realistic given the property's current condition.
For buy-to-let buyers, the landscape is more nuanced. The same conditions driving existing landlords out also affect new entrants. The investment case has narrowed. Some new buyers are still entering the sector, but the calculation now favours those with a clear long-term view, a realistic appreciation of compliance obligations, and the financial capacity to absorb periods of vacancy or rule change. The accidental landlord era is largely over.
For owner-occupiers, the picture is more straightforward. The increased supply of second-hand homes, often at more negotiable prices, is genuinely good news. Buyers willing to take on a property that needs some work, and to manage the BER and renovation considerations carefully, can secure homes that would have been out of reach two years ago.
Professional guidance becomes especially valuable in this environment. An experienced auctioneer, working alongside a solicitor and a surveyor, can help a buyer assess what they are taking on, what realistic post-purchase costs look like, and whether the price reflects the work needed.
The reality is that the landlord exodus is reshaping the supply side of the Irish second-hand market. For buyers prepared to look closely, evaluate carefully, and act decisively when the right property appears, there are now genuinely better opportunities than have existed for some time.
The strongest decisions will be made by buyers who understand both the opportunity and the work involved. The properties coming to the market are not always pristine, but they are increasingly available, and they are increasingly negotiable.
If you would like to discuss buying or selling a property, contact us on 066 710 4038 or email info@odriscollpropertykerry.com or visit odriscollpropertykerry.com.
Disclaimer: This article is based on publicly available information and is intended for general guidance only. While every effort has been made to ensure accuracy at the time of publication, details may change and errors may occur. This content does not constitute financial, legal or professional advice. Readers should seek appropriate professional guidance before making decisions. Neither the publisher nor the authors accept liability for any loss arising from reliance on this material.
