A SIGN OF the times is that Savills has launched a new lettings division. The agency which has had several incarnations over the years used to have a lettings department but closed it when the residential market took off because it was rumoured it was too much trouble. Hopefully, there will be more than slim pickings for the agency which has moved into what has become an increasingly crowded market.

Savills says the residential lettings market has become a more important sector as people choose to rent rather than buy in the current climate. “Significant vacancies in the apartment sector have also provided opportunities and developers are happy to rent out the units rather than sell at lower prices,” says Ronan O’Driscoll of Savills.

Rents have only dipped by 20 per cent compared to a 50 per cent drop in sales prices from the market’s peak. Clarie Neary, who has been appointed as lettings manager, will be responsible for viewings, lease preparation, rent collection and tenant liaison. She previously worked with O’Connor Shannon as a sales and lettings negotiator and is an associate member of the IAVI. The new division is letting units in Tallaght Cross, a large new apartment scheme located at the terminus of the Luas Red Line. Monthly rents are €775 for one-bed apartments and €950 for two-bed units.