Higher yields on small apartments in Dublin

Residential Valuation Specialist | March 11, 2022

Last Updated: Mar. 11, 2022
DUBLIN 1 COST (€) YIELD (p.a.) PRICE SQ.M. (€)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
1-br apartments 239,000 1,586 7.96% n.a. n.a.
2-br houses 344,000 1,897 6.62% n.a. n.a.
3-br houses 449,000 2,345 6.27% n.a. n.a.
4-br houses 624,000 2,839 5.46% n.a. n.a.
5-br houses 753,000 3,252 5.18% n.a. n.a.
DUBLIN 2
1-br apartments 383,000 1,733 5.43% n.a. n.a.
2-br houses 472,000 2,073 5.27% n.a. n.a.
3-br houses 605,000 2,563 5.08% n.a. n.a.
4-br houses 814,000   3,102 4.57% n.a. n.a.
5-br houses 998,000 3,554 4.27% n.a. n.a.
DUBLIN 3
1-br apartments 280,000 1,505 6.45% n.a. n.a.
2-br houses 398,000  1,800 5.43% n.a. n.a.
3-br houses 505,000 2,226 5.29% n.a. n.a.
4-br houses 739,000 2,694 4.37% n.a. n.a.
5-br houses 834,000 3,086 4.44% n.a. n.a.
DUBLIN 4
1-br apartments 405,000 1,738 5.15% n.a. n.a.
2-br houses 544,000 2,079 4.59% n.a. n.a.
3-br houses 740,000 2,570 4.17% n.a. n.a.
4-br houses 1,100,000 3,111 3.39% n.a. n.a.
5-br houses 1,261,000 3,564 3.39% n.a. n.a.
DUBLIN 6
1-br apartments 349,000 1,618 5.56% n.a. n.a.
2-br houses 478,000 1,935 4.86% n.a. n.a.
3-br houses 672,000 2,393 4.27% n.a. n.a.
4-br houses 1,040,000 2,896 3.34% n.a. n.a.
5-br houses 1,191,000 3,317 3.34% n.a. n.a.
DUBLIN 6W
1-br apartments 290,000 1,497 6.19% n.a. n.a.
2-br houses 397,000 1,791 5.41% n.a. n.a.
3-br houses 557,000 2,214 4.77% n.a. n.a.
4-br houses 862,000 2,680 3.73% n.a. n.a.
5-br houses 987,000 3,070 3.73% n.a. n.a.
DUBLIN 7
1-br apartments 232,000 1,469 7.60% n.a. n.a.
2-br houses 318,000 1,756 6.63% n.a. n.a.
3-br houses 447,000 2,172 5.83% n.a. n.a.
4-br houses 691,000 2,629 4.57% n.a. n.a.
5-br houses 792,000 3,011 4.56% n.a. n.a.
DUBLIN 8
1-br apartments 242,000 1,497 7.42% n.a. n.a.
2-br houses 332,000 1,791 6.47% n.a. n.a.
3-br houses 466,000 2,214 5.70% n.a. n.a.
4-br houses 721,000 2,680 4.46% n.a. n.a.
5-br houses 826,000 3,070 4.46% n.a. n.a.
DUBLIN South Country
1-br apartments 312,000 1,549 5.96% n.a. n.a.
2-br houses 427,000 1,852 5.20% n.a. n.a.
3-br houses 600,000   2,290 4.58% n.a. n.a.
4-br houses 929,000 2,772 3.58% n.a. n.a.
5-br houses 1,063,000 3,175 3.58% n.a. n.a.
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Daft.ie Definitions: Data FAQ See also: Update Schedule

The Gross rental yield is the rent the landlord will earn - before taxation, vacancy costs, and other costs - compared to the property´s purchase price.

In Dublin, specifically Dublin 1, Dublin 3, Dublin 6W, Dublin 7, and Dublin 8, gross rental yields range from 6.19% to 7.96%, which are generally considered excellent yields. One-bedroom apartments will earn relatively more than two-bedroom apartments  (return-on-investment). To earn higher returns, buy smaller units.

How much do apartments cost? Dublin´s average apartment prices tend to be approximately around EUR 200,000 (for a 1-bedroom apartment).

  • In Dublin 1, a 1-bedroom apartment typically costs around EUR 239,000 and can be rented out at EUR 1,586 per month, earning a rental yield of 7.96%.
  • In Dublin 3, a 1-bedroom apartment typically costs around EUR 280,000 and can be rented out for EUR 1,505 per month, earning a yield of 6.45%.
  • Dublin 6W is somewhat close to apartment prices in Dublin 3.  A 1-bedroom apartment costs around EUR 290,000 and can be rented out for EUR 1,497 per month, earning a yield of 6.19%.
  • In Dublin 7, apartment prices and rents are cheaper than the areas mentioned above and with surprisingly higher returns. A 1-bedroom apartment costs around EUR 232,000 and can be rented out for EUR 1,469 per month, earning a yield of 7.60%.
  • In Dublin 8, a 1-bedroom apartment costs around EUR 242,000 and can be rented out for EUR 1,497 per month, earning a yield of 7.42%.

You can generate higher apartment yields in low-cost areas such as Dublin 1, where you can earn a rental yield of 7.96% for a EUR 239,000-worth one-bedroom apartment. And an excellent yield of 7.60% for a one-bedroom apartment in Dublin 7. (Please remember that these yields are gross; net yields will be less). Large houses (4 and 5 bedrooms) tend to earn relatively low yields.

Round trip transaction costs are high for buyers of residential property in Ireland. See our Residential transaction cost analysis for Ireland.


RENTAL YIELDS ACROSS IRELAND

LOCATION \BEDROOM#
AVERAGE
1-BED
2-BED
3-BED
4-BED
5-BED
Dublin City Centre
8.0%
8.1%
7.8%
8.0%
-
-
North Dublin City
6.1%
7.9%
6.9%
5.8%
4.8%
5.0%
South Dublin City
5.9%
7.1%
6.3%
5.8%
5.0%
4.5%
North Dublin Country
5.9%
7.6%
6.9%
5.9%
4.7%
4.5%
South Dublin Country
5.4%
6.6%
6.2%
5.7%
4.2%
3.7%
West Dublin Country
6.6%
9.8%
7.7%
6.5%
5.2%
4.2%
Dublin Commuter Counties
5.7%
7.9%
7.7%
6.0%
4.6%
4.2%
West Leinster
5.9%
8.8%
7.9%
7.0%
5.0%
4.1%
South-East Leinster
5.5%
8.3%
7.4%
6.0%
4.5%
4.1%
Munster
5.2%
5.9%
7.1 %
6.0%
4.2%
4.0%
Cork City
6.3%
6.0%
8.6%
6.4%
5.3%
5.0%
Limerick City
7.2%
10.6 %
8.6%
7.5%
5.7%
6.3%
Waterford City
7.4%
8.0%
8.3%
8.5%
5.2%
5.9%
Connaught/Ulster
5.7%
5.2%
6.8%
7.3 %
5.3%
3.9%
Galway City
6..8%
9.0%
8.0%
7.9 %
5.6%
4.1%
Average
5.7%
7.2%
7.2%
6.3%
4.8%
4.1%
Source: The Daft.ie Rental Report, 2014, August.
 

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