Rents for two- and three-bedroom homes close to new Luas cross-city stops in Dublin rose by more than a fifth over the last year, compared with a 17 per cent increase for rental properties on existing rail lines, according to new research.
The figures from property website Daft show commuters living on the Dublin coastline continue to pay the most, however, with rents close to the Sandymount Dart station averaging €2,274 per month.
Spencer Dock on the Luas red line was the second most expensive stop for rental properties near rail lines after Sandymount. It was followed by Pearse Street and Lansdowne Road stations on €2,174 and €2,141 respectively.
The new research, which comes a few days after figures revealed a big surge in residential property prices along the cross-city line, shows rents jumped 21 per cent, with homes near the Dawson Street, Trinity College and Westmoreland Street stops costing on average €1,968 a month.
Those living close to the Charlemont stop near Ranelagh pay the most rent on the Luas green line at €2,042 on average per month.
Overall, Luas green and cross-city line commuters pay a €170 a month premium compared to the average rent on the red line, which is €1,600.
Most expensive (all stops and stations)
• Sandymount – €2,274
• Spencer Dock – €2,212
• Pearse – €2,174
• Lansdowne Road – €2,141
• Dalkey – €2,135
Luas green line
• Charlemont – €2,042
• Milltown – €1,969
• St Stephen’s Green – €1,968
• Central Park – €1,949
• Cowper – €1,945
Luas cross-city
• Dawson – €1,968
• Trinity – €1,968
• Westmoreland – €1,968
• O’Connell (both) – €1,892
• Marlborough – €1,892
Luas red line
• Spencer Dock – €2,212
• Mayor Square-NCI – €2,053
• Jervis – €2,005
• George’s Dock – €1,996
• Four Courts – €1,894
Dart
• Sandymount – €2,274
• Pearse – €2,174
• Lansdowne Road – €2,141
• Dalkey – €2,135
• Grand Canal Dock – €2,091
