Is buying a property in Phibsborough a good investment?

Last updated on December 29, 2023

Yes, the analysis of Dublin's property market is included in our pack

If you've explored the local culture and community spirit of Phibsborough, you might contemplate living in this Dublin neighborhood.

Is it a good idea though? What's the current state of the real estate market in that area? Are property values appreciating or depreciating? Are investors seeing returns on their real estate investments? How's the demand for rentals?

We'll answer all these questions for you! When building and updating our property pack for Ireland, our team has been researching and surveying this area. In fact, there is significant customer interest in investing there. Therefore, we believe it would be beneficial to include some information about it in our property pack.

Why do property buyers like investing in Phibsborough?

Phibsborough, a vibrant neighborhood in Dublin, has steadily emerged as a sought-after destination for property buyers, distinguished by a blend of unique attributes that set it apart from other real estate markets in the city.

Understanding why this area has garnered such interest, we need to look at the factors that contribute to its appeal.

One of the key aspects of Phibsborough's attractiveness lies in its perfect blend of urban convenience and community atmosphere. Unlike some of the more bustling parts of Dublin, Phibsborough maintains a sense of community while offering all the amenities of city living.

Its streets are lined with a variety of shops and restaurants, providing a lively but not overwhelming urban experience. This balance is hard to find in other parts of the city, where one might encounter either a high-paced city environment or quiet suburban feel.

The popularity of Phibsborough as a real estate hotspot is not a recent phenomenon. Over the past decade, the area has seen a gradual increase in interest, partly due to its strategic location. Situated close to Dublin city center, it offers easy access to major employment hubs, making it ideal for professionals.

Moreover, the neighborhood has undergone significant urban renewal, with new developments and refurbishments enhancing its appeal. This transformation has been managed without losing the area's historical charm, which adds a unique character compared to the more modernized parts of Dublin.

However, the question of whether Phibsborough will continue to ride the wave of popularity is interesting. Trends in real estate are often cyclical, but Phibsborough has several enduring qualities.

Its connectivity to the city, combined with the ongoing developments in infrastructure and housing, suggests that its appeal is likely to persist. That said, the dynamics of real estate markets are influenced by various factors, so while current trends are favorable, they are not set in stone.

The type of people attracted to Phibsborough is diverse, reflecting the neighborhood's versatile appeal. It's popular among young professionals due to its proximity to the city center and vibrant social scene. Families are also drawn to the area, appreciating the local schools and community feel.

Additionally, its cultural diversity and historical significance appeal to those who value a rich, community-oriented living experience.

Despite its many strengths, Phibsborough, like any area, is not without its weaknesses. One issue is the rising property prices, which, while indicative of its popularity, could potentially price out certain groups, altering the demographic balance of the neighborhood.

Additionally, as development continues, there's a risk that the area could lose some of its unique character, a concern often raised in rapidly gentrifying areas.

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Why is Phibsborough a nice place to live?

Phibsborough stands out as a delightful place to live, and there are numerous factors that contribute to its charm and livability; let's delve into the various aspects that make this neighborhood so appealing.

The lifestyle and culture in Phibsborough are vibrant and diverse. It's a place where historical charm meets contemporary living. The area is known for its Victorian-era buildings, giving it a unique character, mixed with modern cafes, restaurants, and bars.

This blend offers residents a taste of traditional Dublin life while still enjoying modern conveniences. The cultural scene is enriched by landmarks like the Phibsborough Library and the presence of artistic venues, adding to the neighborhood's dynamic atmosphere.

Regarding the expat community, Phibsborough is quite welcoming. Its proximity to Dublin's city center makes it a convenient and attractive spot for expatriates. The diversity in the area means that newcomers from various backgrounds can feel at home, and there's a good chance of finding international networks and communities.

When it comes to the cost of living, like many desirable areas in major cities, living in Phibsborough can be relatively expensive, especially in terms of housing. The cost is often balanced by the quality of life and the amenities available.

It's important to consider that while rents or property prices might be high, living in Phibsborough places you close to many facilities and services, which can offset some transportation and other living costs.

Safety is a crucial aspect, and Phibsborough is generally considered a safe place to live. Like any urban area, it's wise to be mindful of personal safety, especially at night, but the neighborhood doesn't stand out as having significant safety concerns compared to other parts of Dublin.

The amenities and facilities in Phibsborough are a significant draw. For families, there are reputable schools like St. Peter's National School and Phibsborough & District Credit Union. Healthcare needs are well catered for with the Mater Misericordiae University Hospital nearby.

For shopping and leisure, the Phibsborough Shopping Centre offers a range of shops and services. These facilities make daily life in Phibsborough convenient and comfortable.

The quality of infrastructure in Phibsborough is quite good. The roads are well-maintained, and utilities like water and electricity are reliable. Internet connectivity is generally strong, a crucial aspect in today's connected world. This solid infrastructure supports a comfortable and efficient living environment.

Accessibility is one of Phibsborough's strong suits. It's well-connected to other parts of Dublin, making commuting relatively easy. Whether you're traveling to the city center or to other neighborhoods, the connectivity is a significant advantage.

For international travel, Dublin Airport is accessible via public transport or a short car journey, making it convenient for those who travel frequently.

Public transportation options in Phibsborough are robust. The area is served by numerous bus routes, making it easy to get around Dublin without a car. The Luas tram system, while not directly in Phibsborough, is accessible from nearby areas, providing another convenient option for public transport.

How much does it cost to buy real estate in Phibsborough?

If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in Ireland.

When considering the cost of buying property in Phibsborough, several factors come into play, from the types of properties available to the area's evolving real estate landscape.

Phibsborough offers a range of residential properties, including apartments, traditional houses, and some larger homes, but you'd be hard-pressed to find luxury villas in this urban neighborhood. The types of properties available reflect the area's history and urban development.

Apartments, particularly those in modern developments, are popular among young professionals and small families, given their convenience and often more affordable pricing. Traditional houses, on the other hand, appeal to those looking for a sense of history and more space.

Currently, there's a high demand for properties in Phibsborough, especially for modern apartments and renovated houses. This demand is driven by the area's proximity to Dublin's city center, its vibrant community feel.

The blend of urban amenities with a touch of historical charm. The balance of city living with a community atmosphere makes Phibsborough especially attractive.

In terms of property development, Phibsborough has seen a mix of new developments and resales. While many properties are resales of older buildings, there has been an increase in new developments, particularly apartment complexes, to cater to the growing demand.

Discussing the price range, properties in Phibsborough can vary significantly. On average, prices per square meter can range widely, reflecting the diversity in property types.

It's important to note that these figures can fluctuate based on market conditions, property size, age, and specific location within the neighborhood.

Over recent years, property values in Phibsborough have generally trended upwards. This increase is due to several factors, including the neighborhood's growing popularity, its ongoing development, and overall trends in Dublin's real estate market. The area has become more sought-after, and as demand has increased, so have property prices.

Looking ahead, there are a few developments and city planning changes that could impact property values. Any new residential or commercial developments, improvements in transportation links, or upgrades in local amenities could positively influence property prices.

If Phibsborough continues to develop as a desirable place to live, with enhanced amenities and infrastructure, it could further drive up property values.

Predictions for the real estate market in Phibsborough in the coming years suggest a continued interest in the area, potentially leading to further price increases.

However, these predictions must be taken with the understanding that real estate markets are subject to various external factors, including economic conditions and national housing policies.

Factors indicating a potential increase in property values in Phibsborough include the ongoing demand for housing in Dublin, the neighborhood's continued popularity, and any future developments in infrastructure and amenities.

The area's charm, combined with its proximity to Dublin's city center and the blend of old and new properties, makes it an attractive option for a wide range of buyers.

Where is the best area to buy a property in Phibsborough?

When considering the best area to buy a property in Phibsborough, it's essential to understand that the neighborhood's charm lies in its diversity.

Different parts of Phibsborough offer varied atmospheres, property types, and pricing, making it vital to consider what you're looking for in a home.

Firstly, the area around Phibsborough Road and the Royal Canal provides a mix of residential charm and convenience. This part of Phibsborough has a lively urban atmosphere with easy access to cafes, shops, and public transport.

The properties here mainly consist of traditional Dublin townhouses and some newer apartment complexes. This area tends to be a bit pricier due to its central location and the amenities it offers.

Moving a bit further out, the areas near the Mater Hospital and around Mountjoy Square offer a quieter residential experience. These areas are characterized by older, more established homes, often with larger living spaces compared to the newer apartments closer to the center.

While still within easy reach of Phibsborough's main amenities, these areas offer a more relaxed pace of life. The prices in these parts can be more moderate, providing a good balance between cost and living space.

An up-and-coming area within Phibsborough that buyers should be aware of is the vicinity around Dalymount Park. This area has seen a recent surge in interest, partly due to the redevelopment plans for the stadium and surrounding areas.

The anticipated improvements in infrastructure and amenities make this part of Phibsborough an attractive prospect for future value appreciation. The properties here are a mix of older homes and newer developments, offering choices for different preferences and budgets.

If you're looking to buy a property in Phibsborough, focusing on areas like Phibsborough Village or near the Broadstone area can be wise. These areas offer a great mix of residential comfort, access to amenities, and the vibrant community life that Phibsborough is known for.

They strike a balance between the bustling city vibe and a sense of community, making them ideal for a wide range of buyers.

On the other hand, areas closer to the North Circular Road, while still within Phibsborough, can be less advisable for some. These areas might have heavier traffic and can be noisier, which might not appeal to those looking for a quieter residential experience.

Additionally, some streets in this part of Phibsborough might not offer the same level of charm or community feel as the central or more residential parts.

Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for Ireland.

Area	Atmosphere	Property Types	Price Range	Comments
Phibsborough Road and Royal Canal	Lively urban	Townhouses, apartments	Higher	Central location, close to amenities
Near Mater Hospital / Mountjoy Square	Quieter residential	Older, established homes	Moderate	More relaxed, larger living spaces
Dalymount Park vicinity	Up-and-coming	Mix of old and new	Varied	Redevelopment plans, potential for value appreciation
Phibsborough Village / Broadstone area	Balance of urban and community	Varied	Varied	Ideal for a wide range of buyers
Near North Circular Road	Heavier traffic, noisier	Varied	Varied	Less charm, may not suit those seeking quiet

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Is there a strong rental demand in Phibsborough?

Phibsborough is indeed experiencing a strong rental demand, reflecting the broader trends in the city's housing market.

To understand this demand, we should look at the nature of rentals, the target demographic, and the potential returns on investment.

The rental demand in Phibsborough leans more towards long-term rentals than short-term. This is largely due to the neighborhood's appeal to residents seeking stability and community, rather than the transient nature of short-term stays.

Phibsborough's proximity to Dublin's city center and its array of amenities make it a desirable place for long-term living.

The target demographic for rentals in Phibsborough is quite diverse, but there are some specific profiles that stand out. First, there are young professionals who are drawn to the area's vibrant atmosphere and its closeness to the city center, where many businesses are located.

These individuals often look for modern apartments or small houses that are easy to maintain and close to transport links. Another significant group is small families and couples, who are attracted by the neighborhood's community feel and the availability of schools and parks. They tend to prefer larger apartments or houses with more living space.

Regarding the types of properties in demand for rentals, modern, well-maintained apartments, especially those with one or two bedrooms, are highly sought after. These properties are popular among young professionals and couples.

In terms of specific areas within Phibsborough, the vicinity of Phibsborough Road and the Royal Canal is particularly attractive due to its blend of urban life and relative tranquility. Properties near major amenities like the Mater Hospital or educational institutions also see high rental demand.

Amenities that can help reduce vacancy rates include proximity to public transportation, shops, cafes, and green spaces. Properties that offer these conveniences are more attractive to potential tenants, as they enhance the overall living experience.

Additionally, having good internet connectivity and modern appliances can be a significant draw, especially for the younger, tech-savvy demographic.

Regarding potential returns on investment, Phibsborough presents a promising picture. While exact numbers vary, the general trend indicates a healthy rental yield, especially for well-located and well-maintained properties.

The increasing demand for rentals in the area suggests that investors can expect a steady income stream from their properties, with the potential for capital appreciation over time.

Looking at the types of properties that could potentially give better yields, newly developed or recently renovated apartments, especially those with energy-efficient features and modern amenities, are increasingly in demand.

These properties not only attract higher rental prices but also tend to have lower vacancy rates, as they meet the desires of the primary renter demographics in Phibsborough.

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Is it easy to buy a property as foreigner in Phibsborough?

Before we answer the question, please know that we have an article dedicated to the experience of buying real estate as a foreigner in Ireland.

Buying property in Phibsborough, Dublin, as a foreigner is relatively straightforward, but there are certain nuances to be aware of in the purchasing process and the Irish property market.

Firstly, there are no specific regulations or restrictions placed on foreign buyers in Ireland. This means that as a foreigner, you have the same rights to purchase property as a local citizen.

However, it's important to note that financing the purchase might be more complex. Non-resident buyers may face stricter mortgage requirements and might need to provide a larger down payment compared to local buyers.

The purchasing process in Phibsborough follows the standard Irish property buying procedure. It starts with property hunting, making an offer, and once accepted, the process moves to contract exchange and finally to completion. It's essential during this process to have a solicitor who can handle the legal aspects, including title search and contract preparation.

One primary risk associated with property investment in Phibsborough, as in many urban areas, is the fluctuating real estate market. Property values can be subject to market conditions, economic factors, and regulatory changes.

Another risk is buying a property without a thorough inspection, which can lead to unforeseen repair costs. This is especially pertinent in areas like Phibsborough, where there are older properties.

Regarding pitfalls, a common mistake is underestimating the total cost of the purchase. Buyers should be aware of stamp duty, legal fees, and possibly property valuation fees.

Another unique aspect is the ‘bidding process’. In Ireland, property prices can often be negotiated through a series of bids, which can be an unfamiliar process for foreign buyers and might lead to paying more than the market value if not navigated carefully.

Working with a local real estate agent and a solicitor is highly recommended, especially for foreign buyers. A local agent can provide valuable insights into the Phibsborough market, assist with negotiations, and help navigate the bidding process.

A solicitor is crucial for handling the legal aspects and ensuring that all the necessary checks are done on the property.

Common exit strategies for property investors in Phibsborough include selling the property for capital gain and renting out the property. The rental market in Phibsborough is strong, so holding the property and earning rental income can be a viable strategy.

When selling, it’s important to monitor the market to sell at a time when property values are favorable.