Higher yields on small apartments in Dublin

Residential Valuation Specialist | May 21, 2022

Last Updated: May 21, 2022
DUBLIN 1 COST (€) YIELD (p.a.) PRICE SQ.M. (€)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
1-br apartments 239,000 1,615 8.11% n.a. n.a.
2-br houses 341,000 1,941 6.83% n.a. n.a.
3-br houses 446,000 2,391 6.43% n.a. n.a.
4-br houses 613,000 2,903 5.68% n.a. n.a.
5-br houses 728,000 3,443 5.68% n.a. n.a.
DUBLIN 2
1-br apartments 382,000 1,763 5.54% n.a. n.a.
2-br houses 476,000 2,119 5.34% n.a. n.a.
3-br houses 602,000 2,611 5.20% n.a. n.a.
4-br houses 793,000 3,169 4.80% n.a. n.a.
5-br houses 959,000 3,759 4.70% n.a. n.a.
DUBLIN 3
1-br apartments 290,000 1,521 6.29% n.a. n.a.
2-br houses 393,000 1,828 5.58% n.a. n.a.
3-br houses 500,000 2,252 5.40% n.a. n.a.
4-br houses 733,000 2,733 4.47% n.a. n.a.
5-br houses 849,000 3,243 4.58% n.a. n.a.
DUBLIN 4
1-br apartments 381,000 1,768 5.57% n.a. n.a.
2-br houses 528,000 2,126 4.83% n.a. n.a.
3-br houses 714,000 2,618 4.40% n.a. n.a.
4-br houses 1,040,000 3,178 3.67% n.a. n.a.
5-br houses 1,229,000 3,770 3.68% n.a. n.a.
DUBLIN 6
1-br apartments 340,000 1,648 5.82% n.a. n.a.
2-br houses 476,000 1,982 5.00% n.a. n.a.
3-br houses 660,000 2,441 4.44% n.a. n.a.
4-br houses 1,012,000 2,963 3.51% n.a. n.a.
5-br houses 1,188,000 3,515 3.55% n.a. n.a.
DUBLIN 6W
1-br apartments 283,000 1,524 6.46% n.a. n.a.
2-br houses 397,000 1,832 5.54% n.a. n.a.
3-br houses 551,000 2,257 4.92% n.a. n.a.
4-br houses 844,000 2,739 3.89% n.a. n.a.
5-br houses 992,000 3,249 3.93% n.a. n.a.
DUBLIN 7
1-br apartments 228,000 1,495 7.87% n.a. n.a.
2-br houses 319,000 1,797 6.76% n.a. n.a.
3-br houses 443,000 2,214 6.00% n.a. n.a.
4-br houses 679,000 2,688 4.75% n.a. n.a.
5-br houses 797,000 3,188 4.80% n.a. n.a.
DUBLIN 8
1-br apartments 234,000 1,515 7.77% n.a. n.a.
2-br houses 328,000 1,822 6.67% n.a. n.a.
3-br houses 455,000 2,244 5.92% n.a. n.a.
4-br houses 698,000 2,724 4.68% n.a. n.a.
5-br houses 820,000 3,231 4.73% n.a. n.a.
DUBLIN South Country
1-br apartments 308,000 1,567 6.11% n.a. n.a.
2-br houses 432,000 1,884 5.23% n.a. n.a.
3-br houses 598,000 2,321 4.66% n.a. n.a.
4-br houses 917,000 2,817 3.69% n.a. n.a.
5-br houses 1,077,000 3,342 3.72% 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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