We have released our Dublin Docklands residential report 2021. This report is based on data from actual transactions over the 12 months. It was a challenging year as Covid-19 had a much more profound impact on the Docklands than any other location in Dublin given the cluster of large office developments. We are confident the market will bounce back strongly this year.
Key findings:
- Average selling price was €430,143 or €572 per sq. ft.
- The average rental yield fell to 5.9% from 6.2%.
- 57% of our buyers required a mortgage, an increase of 26% on 2019.
- There were only a handful of transactions in the €700,000+ market, where properties were slow to sell.
- Non-Irish technology executives living here a number of years are now starting to buy.
- Rents have fallen on average 13% in Dublin Docklands since March and even more at the upper end of the market (€3,000+).
- 13% of our tenants were Irish.
- 59% of our tenants are working in the technology sector.
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