TENANTS LIVING IN two- and three-bedroom rental properties located within 1km of a Luas stop are now paying an average of €2,189 per month, according to new research.

The latest Luas Rental Price report from Daft.ie found that renters living close to Dublin’s light rail network are now paying 15% – or €3,360 per year – more than those living in similar properties in Dublin.

The research, sponsored by KBC in collaboration with TheJournal.ie, analysed average rental prices for two- and three-bedroom properties close to each of the 67 Luas stops in the greater Dublin area between July 2017 and June 2018.

Tenants living along the Luas Green line were found to pay the highest rent of any properties, with average monthly rents of €2,296 – €412 more than the Dublin average of €1,884.

Meanwhile, those living along the Luas Red line pay an average of €2,081 a month in rent, €197 more expensive than the Dublin average.

Average rental prices for two- and three-bed properties located within 1km of each Luas stop Daft.ie Daft.ie

The Red line also had the most and least expensive Luas stops to live by. At the expensive end of the scale, average rents for two- and three-bedroom properties within 1km of Spencer Dock Luas stop averaged €2,793 per month.

However, average rents for two- and three-bedroom properties within 1km of Cheeverstown Luas stop – the cheapest to live by – were €1,417 per month.

On the Luas Green line, Charlemont commanded the highest rents, averaging €2,646 per month, while tenants near Laughanstown have the lowest rents, paying an average of €1,886 per month.

Commenting on the report, Daft.ie’s Martin Clancy said that it showed how access to transport infrastructure was driving up premiums for properties.

He pointed to the fact that average rents were below €2,000 per month for properties near just 7 of the 27 Luas Green line stops.

Along with the report, Daft.ie has also launched a new series of interactive maps which show the rental prices and neighbourhood guides near each Luas stop along both lines.

“We are confident they will arm property hunters with invaluable information about the connectivity and rents of these neighbourhoods along with some very novel trivia associated with these locations,” Clancy added.