Rents for 2 and 3-bed properties close to Luas stops rise by 5%
Rents for two and three bedroom properties close to Luas stops rose by 5 per cent 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.
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.
“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.”
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