PEOPLE RENTING A home beside a Dart station or Luas stop in Dublin can expect to pay over €3,300 a year more than the average rent. 

Latest figures compiled by property website Daft.ie show that rents for properties next to tram or rail stops are 12% more than the Dublin average rent of €2,002 per month.

According to the report, this means that renters living near to Dublin’s light rail network are paying €3,336 per year more than the average.

People renting alongside Dart stations on Dublin’s coastline south of the River Liffey can expect to pay the highest premium. Sandymount Station is the most expensive to live near, with rents averaging at €2,905 per month. 

This is followed by Lansdowne Road (€2,850), Dalkey (€2,810) and Grand Canal (€2,743). 

The most expensive rents on the Luas Red Line are at Spencer Dock (€2,858), while people living near O’Connell Street spend the most to live on the Luas Green Line (€2,678). 

Most expensive Dart, Luas and proposed Metro stop

Dart

The most expensive areas to live along the Dart South line are:

• Sandymount – €2,905
• Lansdowne Road – €2,850
• Dalkey – €2,810
• Grand Canal Dock – €2,743
• Sydney Parade – €2,695

The average rental prices for properties along the Dart South line. Daft Daft

Meanwhile, along the North line, the most expensive place to rent is next to Connolly Station, with Clontarf Road the next most expensive, followed by Malahide.  

The average rental prices for properties along the Dart North line. Daft Daft

Luas

On the Luas Red Line, the top five most expensive places to rent are:

• Spencer Dock – €2,858
• Mayor Sq – NCI – €2,737
• George’s Dock – €2,697
• Jervis – €2,678
• The Point – €2,609

Average cost of rents along Luas Red Line in the Dublin city. Daft Daft

Meanwhile, on the Green Line, the most expensive areas are:

• O’Connell St – €2,678
• Parnell – €2,678
• Charlemont – €2,672
• St Stephen’s Green – €2,591
• Dawson St – €2,591

Areas along the Luas Green Line in Dublin city centre. Daft Daft

Metro

The report also gave a breakdown of the current average rents of  areas along the newly planned MetroLink North:

‘Location, location, location’ 

Commenting on the rental prices, Daft economist Ronan Lyons said that the higher costs were evidence of the importance of living next to good public transport connections.

“As you go around the city, the same kind of home costs a different amount each month, reflecting the services and amenities on offer in each area,” he said.

“But also, it’s the case that homes close to rail stations are more expensive than similar homes without one nearby.

In other countries, this upswing in value caused by public investment is ring-fenced to go back to funding those projects. With plans for more light rails and metros in Ireland, this might be something the government considers here.

Note: Journal Media Ltd has shareholders in common with Daft.ie publisher Distilled SCH.