Property in Dublin has seen incredible demand in recent years and phenomenal price rises for beautifully-presented properties – up to 20% for “turn-key” ready homes in the core €1.5m-€2.5m market.
Property buyers who had been held back due to Covid restrictions have been on a mission to purchase since the restrictions lifted and in-person viewings returned in May 2021. They have had plenty of time to think about where they want to live, saved money, and were ready to pounce once stock became available. As such, we are seeing lots of cash buyers in Dublin at up to the €5m level, and premium prices being paid for properties that are in very good condition. Those that are beautifully finished and extended are achieving over €150k-€250k more than they would have pre-Covid.
People will pay a premium for ‘turn-key’ ready properties with no structural work required as building and material costs have risen so much. This is also the case at the higher end of the market – €5m-€15m. For a long-term family home, buyers will pay a premium if the property is finished to a very high standard – the only exception is possible decorative changes such as changing the colour of the walls due to personal taste. In many cases, it doesn’t make financial sense to renovate and finding a builder is currently difficult, so people just don’t want the hassle. As a result, properties that need work are not performing as well.
Lots of vendors at the higher level (€7m upwards) require off market sales and plenty of buyers want the discretion when purchasing so will also pay a premium to achieve this. We specialise in off-market sales and are amazed at the number of cash buyers that are still coming back to settle themselves in Dublin – some will continue to commute to London for work but are happy to do so if they can retreat by the sea at the weekends in their nice suburban pad!
Seaside living is increasingly popular so all of the villages along north and south of Dublin Bay from Howth (NorthSide) – Dalkey (Southside) are very sought after.
The Grand Canal Docks have also seen a huge uplift after undergoing significant redevelopment since 2000, as part of the Dublin Docklands area redevelopment project. Located on the border of eastern Dublin 2 and the westernmost part of Ringsend in Dublin 4, surrounding the Grand Canal Docks, an enclosed harbour where the Grand Canal comes to the River Liffey.
The area has been nicknamed “Silicon Docks” by Google and Facebook (a reference to Silicon Valley) as it has become a popular location for multinational technology firms such as Google, Facebook, Twitter, LinkedIn, Airbnb and Stripe – all are still recruiting so there is a need for more accommodation and the new development is still ongoing. As well as tech companies, there are also some big law firms including Matheson, William Fry, Beauchamps located in the Dublin Docklands. The area has a real buzz with hotels, bars, theatres and cafes and there’s a real demand for property here.
We expect this demand to continue throughout Dublin’s hotspots, and whilst quality property is in low supply, prices are likely to keep rising.
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Tenancy charges may vary, depending on the agreement we have with you, so it’s best to ask the INHOUS lettings department.
The following payments may apply when entering an Assured Shorthold Tenancy:
| First month’s rent | In advance |
| Tenancy Deposit | 5 weeks, or 6 weeks if annual rent is over £50,000 |
| Holding Deposit | One week’s rent, put towards your first rent due |
| Early termination when requested by the tenant | A charge not exceeding the financial loss experienced by the landlord |
| Default charge for late payment of rent | A maximum of 3% above Bank of England base rate, charged when rent is more than 14 days late |
| Default charge for replacement of lost key or security device | Equivalent to cost incurred |
| Changing the tenancy documents after the commencement of the tenancy, including change of sharer | £50 incl. VAT |
The following payments may apply when entering a Non-Housing Act Tenancy:
A Non-Housing Act Tenancy is formed when the annual rent exceeds £100,000 or the property is occupied by a Company rather that an individual.
| Inclusive of VAT | |
| Tenancy Setup Fee drafting and execution of tenancy agreement if supplied by us, collecting and holding the Security Deposit as Stakeholder, issuing protection certificates, if applicable, Open Banking type referencing of tenant and initial Right to Rent Checks | £360 |
| Check-in Fee checking into the property and reviewing inventory | minimum of £130 |
| Tenancy Continuation negotiating and drafting an extension | £150 |
| Change of Sharer – Deed of Assignment | £120 |
| Early Termination – Deed of Surrender | £120 |
| Guarantor Referencing Fee (each): | £30 |
| Deed of Guarantee Fee: | £50 |
| Late payment of rent | 3% above the Bank of England base rate |
This guide is for tenants and landlords in the private rented sector to help them understand their rights and responsibilities. This guide includes a checklist and further detail on each stage of the rental process.
Tenancy charges may vary, depending on the agreement we have with you, so it’s best to ask the INHOUS lettings department for a full breakdown of costs. Here’s a list of what you can typically expect to pay:
| Lettings Service Only: | 10%+VAT (12% inc. VAT) – Including rent collection |
| Letting and Management Service: | 16%+VAT (19.2% inc. VAT) |
| Short Let (less than 6 months): | 24%+VAT (28.8% inc. VAT) |
| Lettings Renewals Service: | 8%+VAT (9.6% inc. VAT) |
| Lettings and Management Renewal: | 14%+VAT (16.8% inc. VAT) |
| Short Let Renewal (less than 6 months): | 24%+VAT (28.8% inc. VAT) |
Additional non-optional fees and charges
We will not be charging clients fees for referencing, tenancy agreements or deposit registration.
The costs of a clean, EPC, gas safety, EICR, PAT and inventory are set by third party suppliers and prices may vary. The below schedule is to give you an idea of what you would typically pay.
All fees stated are inclusive of VAT (calculated at 20%):
During the tenancy (if required
INHOUS is a member of and covered by the ARLA/Propertymark Client Money Protection (CMP) Scheme.
We are also a member of a redress scheme provided by The Property Ombudsman www.tpos.co.uk.