High property prices ripping the heart out of our city
Homes only for the rich will turn the capital into a bland consumer playground, writes Donal Lynch
Just behind the building where I live in the city centre, on the fault line between what you might call dirty old town and the tech hub, a new development opened recently. The luxury apartments in it were snapped up in a frantic 24-hour period.
There was no need for queues for these buyers; most paid cash, around the €400k mark for one-bedroom properties, and the whiff of that kind of money subtly changes a neighbourhood. Beneath the building a familiar yuppie-servicing ecosystem of fancy coffee shops and expensive deli has already opened. Our local five-star hotel has a new rooftop bar - the only other piece of major construction to be completed in the neighbourhood in recent times. These corporate amenities are the latest signs that the area, which just 10 years ago was considered urban badlands, has been fully gentrified.
These new arrivals will further push up the price of property and the quality of the coffee in the area. They are polite, quiet, and unlike the more 'indigenous' neighbours, they actually pick up after their dogs; I should probably rejoice in their advent.