Drumcondra, Glasnevin, Santry, Beaumont

Down 20%

Traditionally popular among buyers and investors alike, Dublin 9 homes still managed to fall in value by 20% last year and by 35% since 2006. However, some initially overpriced duplex apartments have been hit in the extreme with prices falling by as much as 50%.

Homes in Drumcondra and Glasnevin held their value far better than other areas in Dublin 9 as buyers continue to believe that these houses represent good value.

Semi-detached properties in established areas such as Shanvarna Road and Shantalla Road also managed to shelter from the brunt of the downturn.

Dublin 9 has seen a virtual collapse of the second-hand apartment market, with less than five units sold by Lisney in 2008, largely thanks to a preference for stamp duty-free properties.

Potential buyers who want to commit are being turned down by banks that believe the properties are over-valued. Homes in Dublin 9 regularly go for well under asking price:€800,000 properties have sold in recent months for as little as€650,000.

There are very few investors in this part of Dublin — up to 98% of purchases are being made by owner occupiers. Rental prices have fallen by 15% and may continue to drop in the new year as vacancy rates rise. Meanwhile, the agents predict further price falls ahead.

Explore Property

• Buying & Selling

• New Homes

• Overseas

• Interiors

• Investment

• Gardens

• Cool In Your Code

• Specials

• First-time buyer

Times recommends

• Second homes: credit crunch casualty or money-spinner?
• How I built my own sliding house
• Top 10 incentives for house buyers