Spencer Dock is the most expensive Luas stop to live near to - with two-bedroom apartments near it costing on average nearly €400 more a month to rent than equivalent homes on the network’s green line.
Today’s Daft.ie rental map charts the average cost of living on Dublin’s Dart and Luas lines, with renters paying €1,530 a month to live close to a Dart station, €1,553 to live on the Luas green line, and €1,357 to live on the Luas red line.
Commuters pay a premium to live near Dart stops on Dublin’s coastline, with those living close to the Sandymount stop paying €1,908 a month and those near the Dalkey stop paying €1,856 a month.
Those due to benefit from the completion of the new Luas green line extension into Dublin’s north inner city currently pay around around €1,422 a month for a two-bedroom apartment.
The only stop on Daft.ie’s map with average rents below €1,000 was Templeouge’s Cheeverstown – where commuters pay €950 a month.
The author of the report, Trinity professor Ronan Lyons, said that the figures “highlight the value of rail infrastructure, with rents for properties closer to stations above those for comparable properties elsewhere”.
“For policymakers, the fundamental question remains how best to link upswing in properties, like those seen around the cross-city Luas, and the money invested in rail. A good property tax system can make that connection,” Lyons said.
The report comes a day after Fianna Fáil and Fine Gael reached agreement on controversial rent caps, with housing minister Simon Conveny due to “fast-track” consideration of areas outside of Dublin and Cork for inclusion in the scheme, such as Waterford, Limerick, Galway and commuter towns.
A report on the issue is due back by the end of January. Any areas deemed “rent pressure zones” will be subject to a 4 per cent cap on rent increases.
The move aims to “prevent instability and uncertainty” in the rental market, Coveney said yesterday.