A two-bedroom apartment on Clarion Quay is worth over €400,000. Is it a good investment?

Address: Apartment 9, Block 7 Clarion Quay, IFSC, Dublin 1

Apartment type: Second floor two-bedroom apartment at €425,000

Agent: HOK Residential

What do you get: The cachet of owning a property in one of the most architecturally acclaimed apartment schemes in Dublin. You also get 750 sq ft of living space with an open plan sitting/dining room with wooden floors and sturdy west facing balcony overlooking the gardens. It has a streamlined fitted kitchen with recessed lighting, granite worktops and integrated Neff appliances .Underfloor heating and an underground parking space are other perks. The bathroom is fully tiled with a bath and shower. The service charge is €2,961 per annum.

Where? Clarion Quay built four years ago by a consortium headed by Dublin Docklands Development Authority (DDDA), Liberty Homes and Redquartz is situated between the Citibank headquarters and the 159-bed Clarion Quay hotel. A multiple award winning development by Urban projects,Clarion Quay has been praised for its clever mix of wood, glass and brick, internal wintergardens and sharp-edged residential towers. That, and the buzz of the IFSC with its bars, restaurants, cafes and convenience stores have made it a sought after address for young professionals.

However, Clarion Quay attracted controversy when the children from the social housing to the rear of the scheme were banned from playing on communal grounds.

Stamp duty: €31,875 for investors and first time buyers

Solicitors fees. Traditionally around 1 per cent of the purchase price but some solicitors may be willing to negotiate a flat fee.

Potential: Clarion Quay is one of the most coveted addresses in the IFSC and although the corporate-let market has been less than buoyant, it's central location and reputation has made it popular with young professionals. Two-bed apartments in Clarion Quay can command up to as much as €2,100 per month, depending on size and if the fit out is to a high standard. This compares to €1,100-€1,400 in nearby Custom House Quay. When Clarion Quay was first launched on the market four years ago, two bed apartments sold from €311,000 (£245,000) .

Verdict: If Spencer Dock unleashes 3,000 apartments onto the market over the next ten years as promised , the capital appreciation of north dockland developments like Clarion Quay may take a knock in terms of capital appreciation and rental values. Although, as one of most high profile and desirable developments on the quays, Clarion Quay has a better chance than most of holding its own.

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