Year after year, Dublin attracts holidaymakers upon holidaymakers to its streets. They are drawn to the Irish capital’s rich history, the literary figures that haunt its streets, and of course, its pubs. For those looking to purchase a second home in Ireland, there is plenty of profit to be made by renting out a property in Dublin.
Dublin, Ireland. Source: shutterstock: Arcady.
Dublin is on everyone’s “must visit” list
London. Rome. Paris. And Dublin. Dublin is one of those great, historic cities that attracts tourists, whatever the season. Whether they’re drawn in by dreams of the perfectly poured pint from the Guinness Store or the historical importance of Dublin Castle, Dublin is a must-visit place for many. It is one of the top fifteen most-visited cities for tourists, with 4.9 million visitors a year, according to Schengen Visa. Brits make up a considerable number of those visiting, but Dublin has also captured the hearts of Americans. According to travel insurance providers Allianz Partners, Dublin is the third most popular city for Americans to travel to.
Dublin airport is approximately 10km north of the city centre, with taxi and bus services straight there. London to Dublin is an easy hour and twenty away. While the fastest non-stop flight from Dublin to New York is a little over six hours.
Something for everyone
One of the driving forces behind Dublin popularity with tourists is that it is packed with things to see and do, whoever you are.
For history buffs…
Christ Church Cathedral.
From the influence of the Vikings to the Easter Rising, there’s so much to take in. Even the streets, with their impressive Georgian buildings and landmark statues, such as the Molly Malone and the Monument to Oscar Wilde, are fascinating. Other must-see historic landmarks include the General Post Office, which still functions as a post office to this day but is best known for being a stronghold of Irish volunteers in 1916; the imposing but beautiful Christ Church Cathedral; and for a fun day out with the kids, trying on Viking helmets and Medieval garb, head to the Dublinia.
For the foodies…
Dublin caters to holidaymakers looking for tasty, affordable pub grub to those looking for high-end cuisine. The city has forty-three restaurants featured in the Michelin Guide, with three restaurants boasting of two stars.
For those fancying a tipple…
Dublin is renowned for its legendary pubs. Established in 1198, the Brazen Head is Ireland’s oldest pub and offers a truly authentic experience with live music. While the Temple Bar prides itself in its epic selection of craft beers. Then, of course, given that Dublin is the home of Guinness, a trip to the Guinness Store is a must for many.
For literature lovers…
Dublin was recognised as a City of Literature by UNSECO. Dublin has been home to the likes of James Joyce, Oscar Wilde, Bram Stoker and Colm Tóibín. Holidaymakers can go on walking tours, visit the Museum of Literature Ireland, and lose themselves in the city’s impressive libraries.
For festival goers…
One of the great pluses about renting out a property to holidaymakers in Dublin is that the city’s appeal is not restricted by the seasons. We expect grey clouds and rain, that won’t stop the footfall! Indeed, when it’s wet, where would you rather be than in the corner of a cosy pub, beer in hand? Plus, Dublin has plenty of festivals to attract holidaymakers, all year round. The city welcomes in the New Year; then hosts a film festival in February; enjoys St Patrick’s Day in March. It has a couple of festivals a year to celebrate its literary history. Then, finally, in December, the Christmas lights end the year in spectacular fashion.
Things to bear in mind when renting out…
Renting in Dublin…
According to Rightmove, properties in Dublin had the overall average price of £179,624 over the last year. This is up 2% on the previous year and 14% up on the 2020 peak.
In Ireland, short-term lets are of less than 14 days, with Airbnb being a popular site to advertise your property. Check out Airbnb’s guidelines on this here. Your rental income will be subject to taxes, which are due on October 31st on each year. Ireland has Rent Pressure Zones where restrictions are stricter, so it’s important to check the rules before you buy.
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