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Double-digit yields for Dublin Residential Property investors

Residential investors can still achieve double-digit gross yields in a number of sectors of the Dublin and regional market despite recent increases in house prices. Admittedly the most attractive double-digit yields in the Irish market may be in areas which are considered a greater investment risk, but some investors may weigh those risks against other risky investments such as equities in world stock markets.

The latest Daft figures show that some of the highest yields in Dublin can be achieved in Dublin 24, which includes Tallaght, where one-beds saw rents rise by 8.9 per cent to €955 per month in the year to April and two-bedroom house rents rise by an average of 10.2 per cent to €1,100.

I singled out Tallaght because Ireland‟s largest residential investor Ires Reit recently bought 442 apartments in Tallaght Cross West in the biggest deal so far this year. The Property Price Register showed it valued the 442 units at just below €64.1 million or an average of €145,000 per apartment.

Ires said it expected to increase the yield to 8.5 per cent by attracting tenants to the 53 units which were vacant and also upgrading units.

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