Rail Rents: 15% Premium To Rent Within 1KM of the Luas
Rents for two and three bedroom properties close to Luas stops rose by 5% to an average of €2,189 year-on-year, according to new research from Daft.ie.
This means that renters living close to Dublin’s light rail network are now paying a premium of €3,360 per year (15%) compared to the average rent for similar properties in Dublin.
Ireland’s No.1 Property website has today launched their Luas stop-by-stop interactive rental price maps and neighbourhood guides, sponsored by KBC Bank.
The research which led to the creation of these maps analysed the average rental prices for two and three bedroom properties close to (controlling for time, size and type) each of the 67 Luas stops in the Greater Dublin Area for the period between July 2017 and June 2018.
Properties on the Luas Green line command the highest rental premium of any Luas properties, with average monthly rents of €2,296 or €412 more than the Dublin average. On the Red line, rents average out at €2,081 which is €197 more expensive than the Dublin average of €1,884.
Spencer Dock is the most expensive Luas stop to rent by with average rents of €2,793. The least expensive stop is Cheeverstown with average rents of €1,417 for two and three bedroom properties within a kilometre of the stop.
On the Luas Green line Charlemont commands the highest rents with €2,646 the average.
Martin Clancy from Daft.ie said; “Access to transport infrastructure is, unsurprisingly driving up premiums for properties with good connectivity. For example, on the Luas green line, only 7 of the 27 stops have average rents under €2,000 for two and three bedroom properties.”
“We are delighted to today launch our interactive Luas rental price maps and neighbourhood guides, sponsored by KBC in collaboration with TheJournal.ie. These maps are a follow up to our hugely successful Luas house price maps that launched in October and are available for users again on both mobile and desktop. We are confident they will arm property hunters with invaluable information about the connectivity and rents of these neighbourhoods along with some very novel trivia associated with these locations.”
Over 1,000 property searches take place on Daft.ie every minute.
Most expensive (All Stops)
Spencer Dock – €2,793
Charlemont – €2,646
Mayor Square – NCI – €2,625
George’s Dock – €2,587
Most Expensive (Luas Green Line)
Charlemont – €2,646
Parnell – €2,529
St. Stephen’s Green – €2,529
Trinity – €2,529
Most Expensive (Luas Red Line)
Spencer Dock – €2,793
Mayor Sq – NCI – €2,625
George’s Dock – €2,587
Jervis – €2,575
Least Expensive (Luas Green Line)
Cherrywood – €1,927
Broombridge – €1,916
Brides Glen – €1,908
Laughanstown – €1,886
Least Expensive (Luas Red Line)
Citywest Campus – €1,700
Fettercairn – €1,673
Belgard – €1,584
Cheeverstown – €1,417
