Dublin 8: Shoppers look to Rialto and Inchicore
Property prices are up 3 per cent in Dublin 8, where buyer demand has shifted from the more central Portobello area to more affordable locations such as Kilmainhan and Inchicore.
That’s below the 8 percent increase expected early last year, but it’s been solid given international events and rising interest rates, says DNG’s Mary Doran.
“Dublin 8’s convenience and character are the main drivers of buyer demand,” she says. “Sellers in the area are generally trying to buy back in the area to stay close to schools and the city. That attracts young professionals and first-time buyers.”
Activity in D8 is fairly evenly split between those who have previously owned properties, first time buyers and indeed investors who are still active here.
- average price €600,000
- areas Portobello, South Circular, Christchurch, The Liberties, Clanbrassil, Blackpitts, Inchicore, Kilmainham, Rialto, Dolphin’s Barn
- High
+3% - One Year Forecast
+3% - appraisal agent DNG
The most sought after properties are historic red brick homes and single family homes. At the higher end, a two- or three-storey house with a basement can sell for an average of 1.2 million euros. While prices for these home types were flat in 2022, Doran expects a 4 percent increase this year due to increased demand.
Three-bed terraces further from the city center are selling for half and rising in value by 4 pcs from €575,000 to €600,000 with Doran making an even bigger jump for this year from 8 pcs to €650,000 expected these guys.
| house type | 2022 | 2023 | 2024 |
|---|---|---|---|
| 3 bed semi | €600,000 | €600,000 | €650,000 |
| 4 bed semi | €750,000 | €700,000 | €750,000 |
| 4 Bed Detached | €825,000 | €850,000 | €875,000 |
| 5 Bed Detached | €950,000 | €950,000 | €975,000 |
| One bed apartment | €250,000 | €275,000 | €300,000 |
| Two bed apartment | €360,000 | €350,000 | €375,000 |
| 2up/2down | €450,000 | €450,000 | €475,000 |
| 3 bed terrace | €575,000 | €600,000 | €650,000 |
| 1 bed cottage | €290,000 | €300,000 | €325,000 |
| 2 bed cabin | €400,000 | €400,000 | €425,000 |
| Ex corporation 2 bed | €390,000 | €450,000 | €475,000 |
| Ex corporation 3 bed | €435,000 | €500,000 | €550,000 |
| 2 bed townhouse | €425,000 | €425,000 | €450,000 |
| 3 bed townhouse | €525,000 | €550,000 | €575,000 |
| Stables with 2 beds | €690,000 | €700,000 | €725,000 |
| Stables with 3 beds | €800,000 | €800,000 | €850,000 |
| 2/3 floor above basement | €1,200,000 | €1,200,000 | €1,250,000 |
| 4/5 floor above basement | €1,500,000 | €1,500,000 | €1,500,000 |
“Having Victorian property so close to the city center with relative value gives you a modern lifestyle in a house with character.”
But prices for many other types remained the same, including triple rooms and some cottages. The student population has grown around the Liberties and Warrenmount areas in recent years, with a large number of new apartment buildings being constructed and more planned. The Land Development Agency (LDA) announced plans to redevelop the Digital Hub campus site near Thomas Street with 500 social and affordable housing.
Ballymore and Diageo have now presented plans for a development that will include 336 houses on a 12.5-acre lot on St. Plans for almost 1,000 apartments on the former site of Bailey Gibson and Player Wills on South Circular Road are currently on hold, as the application is going through the judicial review process.
Rialto has always lagged behind the South Circular Road in terms of price. But with the children’s hospital finally nearing completion, 2023 could be the year when prices rise faster here than in other areas. Doran predicts Kilmainham and Rialto to rise in 2023 and forecasts a 3 percent rise for the full year.
Real Estate Hotspot: Kilmainham / Rialto
Affordable housing alongside amenities and good transportation
https://www.independent.ie/business/personal-finance/property-mortgages/how-much-is-your-house-worth/dublin-8-buyers-look-to-rialto-and-inchicore-42295632.html Dublin 8: Shoppers look to Rialto and Inchicore
