Be prepared to pay a premium for the bright lights of the city

There are at least 40 new homes schemes currently under way in the immediate environs of the city centre. But if this brings to mind Manhattan-style apartment living between the city quays and the Grand Canal, then think again. There are very few residential schemes with units to buy going up in the Dublin 1 and Dublin 2 areas and much of the high density building here is being carried out by international funds and will ultimately become managed rental accommodation.

A little further afield there’s more activity, but there’s also a premium to be paid for proximity to the bright lights and handy transport links to the city centre, with little or nothing new available to buy for less than €400,000. Buyers in this market will find themselves competing with cash rich downsizers, cash buyers and ex-pat professionals either investing or returning to Dublin.