High rents in Dublin won’t deter top tech talent locating here

The Chair of Tech/Life Ireland has said high rents will not deter top tech talent from locating here.

Karl Flannery chief executive of Storm Technology and Chair of the Tech/Life Ireland delivery group, a new national initiative to brand Ireland as a top destination to pursue a career in technology that was launched on Monday.

The initiative, funded by the Department of Jobs, Enterprise and Innovation and will be delivered in partnership with Enterprise Ireland, IDA Ireland and the tech industry to help attract up to 3,000 top tech professionals to Ireland each year.

“The fact of the matter is the tech sector is growing faster than has been predicted originally. This programme is really about a branding and marketing exercise to other jurisdictions Ireland to showcase Ireland as a fantastic place to build your career in technology,” he said.

“What is critical about getting people to locate here is the lifestyle and the workplace you will be in. Dublin has the intensity and density that will appeal to those looking to locate there,” he said.

Mr Flannery said the cost of rents and homes here will not deter those looking to locate here.

“It’s a bit of friction that we have to deal with here but it hasn’t prevented people from being here. It’s not ideal and it’s something that we have to get on top of and deal with. It’s not something that will stop this initiative happening,” he said.

Rents in Dublin are now higher than they were at the peak of the housing boom.

June figures from the Residential Tenancy Board said the average rent in Dublin is now €1454 for a house and €1306 for an apartment. Last year these stood at €1342 and €1208 respectively.

"High rents are issues in most tech cities such as London and Berlin. These are challenges. If someone is looking to build their career in the tech sector, Dublin is ideal because these are well paid jobs," he said.

“I accept there are pieces of friction that don’t make it ideal but its not something that’s preventing us from being successful in this initiative ,” he said.

Mr Flannery said Brexit will not impact significantly on the tech sector here.

“From a technology point of view; Brexit won’t have a huge impact on the tech sector in Ireland one way or the other,” he said.

“It is unfortunate the British public made the decision to leave but is something we will work with and make a success of. The UK is still going to be a huge trading partner. Culturally we are very aligned with them and our relationship has never been better,” he said.

Mr Flannery says he is hopeful they will exceed the 3000 figure they have targeted to work here.

“The 3000 is the ballpark figure but I reckon we can exceed that figure. The tech industry is growing bigger than expected. “Our requirement is not going to go down, it going to keep increasing,” he said.

“We are going to be challenged to get the numbers we need for the tech sector form third level and through the education system. Even if we can produce the numbers needed from Ireland; being able to attract the best people from abroad is also good for the industry and brings that diversity and energy we need,” he said.

Mr Flannery said recruiting people from abroad is beneficial as we are an export led country.

“This is not about quantity per se; this is about the quality of people we want to attract here and that’s key for the technology sector. In the technology the high skilled, experienced professional at the top of their game that have a huge impact on the effectiveness and productivity of the companies they work for.”