All the latest property news from Vincent Finnegan Ltd. estate agents.


Buyers pay 15% extra to live by the Luas


Commuters are paying a premium of 15% or over €60,000 extra in Dublin for a house that is located within 1km of a Luas stop. This means that buyers are now paying an average of €446,000 for a property close to a Luas stop, which is €61,000 more than the average asking price in Dublin.



The research which led to the creation of these maps analysed the average asking prices for two and three bedroom properties close to (controlling for time, size and type) each of the 67 Luas stops in the Greater Dublin Area for the period between July 2017 and June 2018.


Properties on the Luas Green line command the highest premium of any Luas properties, with average prices of €524,000 or €139,000 more than the Dublin average. On the Southside portion of the Green Line, the contrast is even greater – averaging out at a difference of €172,000 between Dublin in general and properties close to the Southside Green Luas line.

On the Red line, property values average out at €378,000 which is €7,000 cheaper than the Dublin average of €385,000.
Beechwood is the most expensive Luas stop to live by with average asking prices of €778,000. The least expensive stop is Cheeverstown with average asking prices of €197,000 for two and three bedroom properties within a kilometre of the stop.

Martin Clancy from Daft.ie said; “Access to transport infrastructure is, unsurprisingly driving up premiums for properties with good connectivity. For example, on the Luas green line, 24 of the 35 stops have average property prices of more than half a million euro.”

“We are delighted to today launch our interactive Luas house price maps and neighbourhood guides sponsored by KBC in collaboration with TheJournal.ie. These guides, available on both our mobile and desktop platforms are the culmination of many, many hours of design work and economic analysis of our data. We are confident they will arm property hunters with invaluable information about the connectivity of these neighbourhoods as well as the overall demographics of the area – along with some very novel trivia.”

Over 1,000 property searches take place on Daft.ie every minute.

Most expensive (All Stops)

Beechwood – €778k Ranelagh – €721k Milltown – €672k Cowper – €662k

Most Expensive (Luas Green Line) Beechwood – €778k Ranelagh – €721k Milltown – €672k Cowper – €662k

Most Expensive (Luas Red Line) Spencer Dock – €633k Mayor Square – NCI – €569k George’s Dock – €517k The Point – €498k

Least Expensive (Luas Green Line) Cherrywood – €418 Dominick – €411 Cabra – €394 Broombridge – €323

Least Expensive (Luas Red Line) Hospital – €246 Fettercairn – €228 Citywest Campus – €220 Cheeverstown – €197

Daft.ie/The Property Week - 09 Oct '18

Interactive Luas map click below: https://www.daft.ie/neighbourhood-guides

Read more

New European GDPR Framework


A new European Union-wide framework known as the General Data Protection Regulation (GDPR) came into force across the EU on 25 May 2018.


A new European Union-wide framework known as the General Data Protection Regulation (GDPR) came into force across the EU on 25 May 2018. 

An accompanying Directive establishes data protection standards in the area of criminal offences and penalties. This is known as the law enforcement Directive. The GDPR and the law enforcement Directive provide for significant reforms to current data protection rules. They provide for higher standards of data protection for individuals and impose increased obligations on organisations that process personal data. They also increase the range of possible sanctions for infringements of these rules. 

This document outlines the main elements of the GDPR and links to further information about it. The GDPR and Ireland As an EU regulation, the GDPR did not generally require transposition into Irish law (EU regulations have direct effect), so organisations involved in data processing of any sort need to be aware that the GDPR addresses them directly in terms of the obligations that it imposes.
You can read about these obligations and the concepts and principles involved. The Data Protection Act 2018 was signed into law on 24 May 2018. The Act changes the previous data protection framework, which was established under the Data Protection Acts 1988 and 2003 (pdf). 

Among its provisions, the Act has: 
  • Established a new Data Protection Commission as the State’s data protection authority 
  • Transposed the law enforcement Directive into national law 
  • Given further effect to the GDPR in areas where member states have flexibility (for example, the digital age of consent) 

Types of data
There are two main types of data under the GDPR: personal data and special category personal data. 

Personal data 
Under the GDPR, personal data is data that relates to or can identify a living person, either by itself or together with other available information. Examples of personal data include a person’s name, phone number, bank details and medical history. A data subject is the individual to whom the personal data relates. You can read more in our document Your rights under the GDPR. Organisations that collect or use personal data are known as data controllers and data processors. You can read about the obligations of data controllers and processors and the concepts and principles involved. 

Special category personal data 
Special category personal data (known as sensitive personal data under previous Irish legislation) means personal data relating to any of the following: 
  • The data subject’s racial or ethnic origin, their political opinions or their religious or philosophical beliefs
  • Whether the data subject is a member of a trade union 
  • The data subject’s physical or mental health or condition or sexual life 
  • Whether the data subject has committed or allegedly committed any offence 
  • Any proceedings for an offence committed or alleged to have been committed by the data subject, the disposal of such proceedings or the sentence of any court in such proceedings 
The processing of special category data is prohibited unless the data subject has given their explicit consent before processing begins or the processing is authorised by law, for example, to protect the interests of a data subject, to comply with employment legislation or for reasons of public interest. Personal data relating to criminal convictions and offences may only be processed under the control of an official authority. 

Where the GDPR applies 
The GDPR applies to the processing of personal data by controllers and processors in the EU, regardless of whether the processing takes place in the EU or not. The GDPR also applies to the processing of personal data of individuals in the EU by a controller or processor established outside the EU, where those processing activities relate to offering goods or services to EU citizens or the monitoring of their behaviour. 
Non-EU organisations processing the personal data of EU citizens must appoint a representative located in the EU. Further information Read about the legislation relating to the GDPR. There is further detailed information about the GDPR on dataprotection.ie and on the dedicated website gdprandyou.ie.

Read more

House Sales To UK Buyers Climb


House sales to UK buyers climb as ‘Brexit refugees’ outbid Irish-based home buyers by 10% over the past year putting pressure on the housing market.


Property sales to UK-based buyers have increased by 10% over the past year, putting pressure on the already stretched housing market. New data has found that almost half of estate agents nationwide have seen an increase in enquiries from the UK for properties here over the past year with Brexit on the horizon. The data from estate agents all over Ireland show that Brexit is proving to be double-edged sword – which is helping to drive sales of property but also putting further pressure on the stretched market. Buyers are a mix of Irish emigrants who want to return home, British workers who want to relocate to Ireland or those who wish to retire here. 


Sales to UK-based buyers have now increased by 10% on average over the past year.  

And the majority of homebuyers are looking at middle market properties. While the average house price in the State is €234,824, 20% of sales to UK buyers are ranked higher in price, standing generally at between €250,000-€300,000 with 22% between €300,000-€500,000. The survey also showed that almost one in five property transactions from the UK was directly caused as a result of Brexit. Overall, this translated into more than one in 20 sales coming from the UK. Although the buyers include Irish emigrants returning home, there is a significant number who have never lived¬ here but want to relocate. “UK buyers make up 11% of overall enquiries and 6% of sales in the Irish market, with our agents reporting an average of five sales each last year, up 10%¬¬¬ on the previous 12 months,” said REA spokesperson Barry McDonald. “While 52% of enquiries are coming from returned emigrants, 28% have no previous connection with the country, which we would note as a significant shift.” Overall, 12% of UK enquiries were caused by jobs moving directly from the UK to Ireland. “We see 17% of enquiries to REA agents citing Brexit as a direct reason for moving to Ireland,” said Mr McDonald. “We find that 23% are coming to live and work in Ireland, which is up from 16% in our comparable 2016 survey.” While the majority will be working in Ireland full-time, a sizeable number will be working from home and one in five of these intends to commute. The typical UK buyer is looking for a rural property (55%). The survey also shows that 27% are buying for retirement, 16% are investors, 11% are looking for a change in lifestyle, and 85 are buying holiday homes. Almost 40% were from London or the south east of England. Independent Oct 2018 https://www.independent.ie/business/brexit/house-sales-to-uk-buyers-climb-as-brexit-refugees-outbid-irishbased-homebuyers-37419711.html

Read more

Investec predicted housing recovery from 2014


As the Central Statistics Office reported the first fall in house prices in Dublin in almost a year, Investec Ireland published a major report forecasting that 2014 would be the year of the housing market recovery.


As the Central Statistics Office reported the first fall in house prices in Dublin in almost a year, Investec Ireland published a major report forecasting that 2014 would be the year of the housing market recovery.

Read more from the Irish Examiner

http://www.irishexaminer.com/business/investec-predicts-2014-housing-market-recovery-260433.html


Read more

Now is the best time to buy

http://www.independent.ie/business/personal-finance/property-mortgages/best-time-to-buy-property-is-now-claims-noonan-3243829.html


Read more

New Property Price Register show prices are on the rise

http://www.independent.ie/business/personal-finance/property-mortgages/new-property-register-shows-house-prices-are-on-the-rise-3247264.html


Read more

Reform of the Residential Tenancy Act

http://www.irishtimes.com/newspaper/property/2012/0920/1224324187530.html


Read more

House prices showing biggest increase since collapse

http://www.independent.ie/business/personal-finance/property-mortgages/house-prices-showing-the-biggest-gain-since-collapse-3242099.html


Read more

Shortage of family homes

Demand outweighs demand in urban centres....

http://www.independent.ie/business/personal-finance/property-mortgages/shortage-of-homes-for-under-35s-in-cities-to-spark-price-surge-3143917.html


Read more

IDG Connect Moving into Millenium House



IDG Connect a leading Research, Media and Technology Company are to provide 125 positions across campaign management, telephone support, data analysis and business intelligence.

Their new Dublin offices are located at Millennium House on the corner of Great Strand Street and the Millennium Walkway, close to the Abbey Street LUAS Station.

Robert Colleran of Vincent Finnegan acted on behalf of the landlord and Ian Campbell of Lambert Smith Hampton acted on behalf of the tenant.

This follows on from a recent 1,116 sq. m. letting in the same building to Version1 Sotware and 167 sq.m. retail unit in adjoining Jervis House building is in the process of being rented to Snap Printing.

Vincent Finnegan commercial are also marketing office space for rent in the Jervis House office building and have floor areas available from 159 sq.m. up to 548 sq.m.

Read more