Sunday 21 July 2019

Rise in property sales - but Dublin now one of Europe's dearest cities for renters

Stock photo
Stock photo
Charlie Weston

Charlie Weston

There has been a rise in the number of residential properties sold in Dublin city and county.

House sales rose from 17,491 in 2017 to 18,523 last year, an increase of 5.9pc, according to the MyHome.ie website.

Meanwhile, Dublin is now the fifth most expensive city to rent a home in Europe, according to research from ECA International.

The level of property sales rose in 14 out of 22 of Dublin's postcodes last year.

There was a fall in eight postcodes in the capital city. Sales rose in County Dublin, according to an analysis of the Property Price Register carried out by MyHome.ie.

Dublin accounts for roughly a third of the Irish property market.

Dublin 15, which covers Castleknock, Clonsilla and Mulhuddart, was the postal district with the largest number of sales, for the second year in a row. It recorded 1,700 sales.

It was followed by Dublin 18, which comprises Carrickmines, Foxrock and Sandyford, where there were 1,000 sales. Dublin 24, which includes Firhouse, Jobstown and Tallaght, was third on the list, with 961 sales.

Managing director of MyHome.ie Angela Keegan said it was positive to see new developments coming to the market.

"However, the downside is that the city is sprawling out beyond the M50 at an alarming rate and that raises a host of questions around public transportation policy, commute times and the kind of city we want to live in."

She said that the number of sales is continuing to increase but the rate of increase is slowing.

Meanwhile, a report shows it is more expensive to rent in Dublin than in Amsterdam, Paris and Stockholm.

The average cost of a three-bed home in Dublin is now €3,406 per month, according to ECA International, a company that provides information to multinational firms to help them manage staff.

London, Moscow, Zurich and Geneva are the most expensive cities to rent, with Dublin in fifth place and a new entrant into the index.

Irish Independent

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