Our Q1 transaction report on the prime Dublin residential market is out.
These are the main trends we are seeing:
- Average selling prices were 3.7% over asking prices with low supply.
- 67% of our properties sold above the asking price.
- 54% of our buyers required no mortgage funding.
- 58% of our sellers were landlords, 27% of our buyers were investors.
- Average open market rental values in our portfolio increased by 15% year on year and rents are now above pre-pandemic levels.
- 63% of our tenants work in the technology sector compared to 48% in Q1 2021.
- Average household salary of tenants increased by 30%, as technology professionals return to Dublin.