Current trends in the Dublin Residential Property Market 25th April 2025
The Owen Reilly Q1 2025 Market Report confirms the Dublin residential property market showed no signs of cooling. While much of the economic conversation remains focused on tariffs and the threat of a trade war between the United States and basically every other nation in the world, inflation, buyer and tenant activity and demand in Dublin has stayed resilient, especially in prime neighbourhoods.
A Seller’s Market with Record Variance
The key takeaway from the sales performance in Q1 is clear: supply is not meeting demand. Owen Reilly achieved an average selling price of €593,934, which is 9.6% above the average asking price of €555,257—marking the highest variance we have ever recorded. In total, 80% of properties sold above asking, while just 6% sold below.
Despite a modest 2% increase in supply compared to Q1 2024 (3,344 listings on MyHome.ie), demand continues to outpace availability. Well-presented properties, particularly apartments, are being snapped up quickly. Apartments averaged just 7.8 weeks on the market, while houses took 12.8 weeks. However, houses achieved a greater price uplift—selling for 14.8% over asking on average, compared to 10.1% for apartments.
The most competitive segment was the €500k–€1M price bracket, where average uplift hit 11.9%. Higher-end properties (€1M+) saw more stable performance, with a 1.4% average uplift.
Buyer Profile: Young, Irish, and Well-Funded
The majority of purchasers were owner-occupiers (83%), and first-time buyers made up 66% of this group. The average buyer age was 41, showing strong demand from young professionals and growing families. Mortgage funding (57%) edged out cash (43%) for the first time in over a year, and 65% of buyers were Irish, followed by European (20%) and Asian (12%) nationals.
Lettings Market: Competitive at the Top End
The lettings market continues to be fast-moving and dominated by high-earning international professionals. Owen Reilly managed 68 lettings in Q1, with an average rent of €2,962 per month. One-bedroom units averaged €2,168, two-beds €2,978, and three-beds €4,835.
At the premium end, demand is much stronger than a year ago. The highest rent achieved was €11,600 per month for a penthouse at 160 Opus, showing renewed demand for top-tier city living. While affordability remains an issue for many, there’s no shortage of competition among well-paid tenants for high-spec, centrally located homes.
The average combined tenant income was €145,997, and the average age was 37. Households consisted of 52% couples, 29% singles, and 19% sharers, indicating a continued preference for urban living and lifestyle convenience.
Who’s Renting? The Global Dublin Workforce
The tenant pool remains heavily international. European nationals made up 38% of renters, with Irish tenants at 31%, and the rest comprising professionals from Asia, India, and the UK.
Tech continues to dominate, representing 45% of tenants, followed by finance (15%), and other sectors such as health, legal, and education. Demand is clearly linked to employment hubs in Dublin 2, 4, and 8, where global firms continue to attract top talent.
“The rental market remains highly competitive, especially at the upper end. Our team is seeing quick turnarounds for properties that offer high design, good amenities, and central access,” Reilly added.
Looking Ahead
With Q1 setting a strong pace, the rest of 2025 depends on supply, interest rates and how tariffs impact the Irish economy. While affordability and supply constraints remain ongoing issues, buyer confidence and tenant mobility continue to fuel a dynamic market.
For buyers, sellers, landlords, and tenants alike, understanding the nuances of this evolving landscape is key—and Owen Reilly’s data-backed insight continues to guide smart decision-making.
Need market advice or property support in 2025?
Visit www.owenreilly.ie or contact our team for tailored, expert guidance.
Owen Reilly, 25th April 2025.
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