Dublin’s north dockland property prices are traditionally lower than those south of the river. Currently they are roughly 20% less and great value for their prime location.
Increased employment combined with more affordable property is hopefully going to bring a boost to the market on the north Docks in the coming year. The addition of Salesforce to the area in Spencer Place will be a big positive. It will bring many opportunities for development and growth in the locality.
There is great value to be had in some of the older apartment blocks. If you are interested in a project this provides opportunity for owner occupiers and investors alike to make a purchase. With a bit of renovation either a nice home or a healthy profit could possibly be made.
Investment in Dublin Docklands
Generally, investment has been heavier in south Docklands with investment reckoning for up to 80% of purchasers here. This will possibly change in the coming years. Roughly 75% of all purchasers in 2018 were cash purchases. Many of the purchases were made by Irish people living and working abroad who had hopes to return to the capital in the future and wanted a solid investment.
In the coming year it is expected that buyers will rely on loans to fund their investments due to the Central Bank’s mortgage lending policies. This will hopefully pave the way for more owner occupiers to buy into this growing area.
Renting in Docklands
Rents have increased here over the last number of years. The average price of a three-bed in the area is just over €4,000 per month. This rate shot up by 12% in 2018. The average rent on a two-bed is coming in at circa €2, 400 and a one-bed is roughly €1,850 per month. Good returns for investors can be made here.
A supply and demand issue is still prevalent across all locations currently and will continue for the foreseeable future. The rental market in this area is strong and gives good rental income for landlords whether accidental or otherwise. Definitely an area to look out for.
Interested in Dublin Docklands?
If this is an area you are interested in, whether it is buying or selling, give our team of agents a call. We may have a fantastic opportunity for you.