Renting property in Dublin Docklands
Rent for properties in the Dublin Docklands area are higher than the Dublin average. However, the annual salary of the tenants in the area are high. Recent studies have shown that salaries of those working in technology and finance in the area are well over the €100,000 mark. This fact, alongside competition for what is available on the rental market, will influence the rental income a landlord can expect to fetch.
New laws are now in place for landlords that help to keep rental increases in check. These are working well. Dublin City Centre has always commanded higher rents and this part of the city is a hub for tech and financial workers. Average rent in the Docklands area is €2,479 per month.
First-timers are still very interested in buying property in Dublin City Centre within their reach. For purchases of up to c. €400,000 they are still in the game. The general thinking is that instead of paying high rents they would be better off owning their own property. Owner occupiers still outnumber renters in the locality currently for prices in this price category. This number is growing year on year.
Investments are on the rise in Dublin Docklands
The number of Irish purchasers in the area has decreased by over 10% in the last two years. This is mostly due to the appeal Dublin now holds for overseas investors. Asian investors are now considering Dublin as a real possibility when looking for new property. European investment is also on the rise in the City Centre.
Are you interested in property in Dublin Docklands?
Would you like to invest in Dublin City Centre or surrounding areas? Do you have a property you would like rented in Dublin? Whether you are interested in renting, buying or investing, Henry Wiltshire would love to talk to you. Come and see us today and we will help you with any questions you may have on property in the area.