Dublin’s ‘Silicon Docks’ residents see average pay rise

January 31, 2020

Average salaries among tenants in Dublin’s “Silicon Docks” rose to €127,618 in 2019 and high rents in the area reflected competition for housing among well-paid finance and technology professionals, a new survey has found.

The data was gathered by Owen Reilly estate agents, based on 231 lettings completed during the year in the docklands area.

It shows that in certain pockets of the docklands, such as Grand Canal Dock, near Facebook and Google’s headquarters, average salaries were €147,582.

Some 55 percent of tenants renting from the company was working in tech, with average rent across the area coming in at €2,479 per month – 20 percent higher than the Dublin average. For a three-bedroom apartment, this rose to €2,939.

Rents increased by 5.3 percent on average year on year, while one-bedroom units were up by almost 7 percent.

Only 8 percent of tenants in the docklands are Irish, the company said. Europeans accounted for 52 percent of tenants, with 32 percent classed as “international”.

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Information & Image credit: The Irish Times