There’s no doubt that buying a property is probably the most significant investment that you’ll make in your lifetime so it pays to choose wisely.
We’ve all heard the horror stories from the Celtic Tiger boom so considering the rental value of a house is essential before taking the plunge.
The Irish Times recently examined some stats from the Central Statistics Office on this very question, and the results were quite surprising.
Apparently, Ranelagh is the worst place in Ireland to buy a property – from an investment perspective.
The study found that the average sale price in Dublin 6 was €706,741, while it had the lowest rental yield of just 3.6 per cent, followed by Dublin 4 at 3.9 per cent.
The high property prices in these areas obviously has a massive impact on the return on investment but that doesn’t mean that there isn’t value to be found in the capital, with Dublin 10 representing the highest yield in the country at 10.4 per cent.
Dublin 2 and the north inner city also performed well, while Longford was one of the rural stand-outs with a yield of over 7%.
If you’re planning to buy your ‘forever home’, this mightn’t put you off too much – but it’s always good to know!