Dublin 4: Google is not the only thing that’s making money here
Dublin 4 is a historical postal district in Dublin which includes Baggot Street Upper, and the suburbs of Donnybrook, Irishtown, Merrion, Ringsend, and Sandymount. Any Dubliner or anyone with any knowledge of Dublin would know that this area is one of the most sought-after real estate in the country. Thanks to the Silicon Docks, Dublin 4 has brought in some major cash into this economy. And now it is time for you to cash in on some of that success by listing your parking space on Parkpnp.
Being one of the busiest working districts in Europe, it attracts professionals from all around the world on a daily basis. And most of them are looking for a place to park their fancy cars. Here are some of the most lucrative areas to put a parking space on rent in Dublin 4:
Grand Canal Square
Money literally grows on trees here, the data tree. Known for its congregation of the largest tech firms in the world, Grand Canal Square serves as a hug for the brightest talent in any business. With companies like Facebook, Google, and Accenture all headquartered here, it is not difficult to see why this area is in high demand for parking. And it pays big to have a space to rent out here. The going price for this area ranges from €180 to €250 per month. Any area around the far end of Pearse St, Lazer Lane and Forbes St are prime with, and the average price listed here is always above €200.
Recommendation: Start at around €150-160 per month to get the lay of the land. After your first couple of bookings, raise the price until you find the optimum amount. You will know you have reached it when your inquiry rates start dropping.
A bit further down the road lies Ballsbridge with its high-end residential streets like Baggot Lane, Pembroke Lane, Lansdowne Road, and Northumberland Road. These are some of the most popular areas for parking in Dublin. Mostly because these are neither close enough to the busy streets around Grand Canal Square to get stuck in traffic nor are they far away enough from the major offices for it to be a hassle. If you have a driveway or parking space here that you are not using, let me tell you, there is good money to be made from renting them out.
Recommendation: There are a lot of residential areas here with spare driveways to rent. So keep your pricing competitive. The usual rate here is between €160 – €180 per month.
Known for its coastal beauty and expensive real estate, Sandymount serves as an ideal location for tourists and Dubliners alike to park their cars to take a stroll down to the beach or get to work. People come to Sandymount from all over the world to get a taste of the scenic Irish coast. So think about that when you are renting out your driveway and price accordingly. There is a public car park here, but it gets full quickly so there are plenty of drivers out there who will be looking for parking on their visit to Sandymount.
Recommendation: Parking here goes for around €100 – €120 per month. Think about doing daily or even hourly rates, to get the tourists in.
A great place to have an unused parking space. Ringsend serves as the home for many local businesses. It is also very close to the Silicon Docks, which means that if people can’t find parking spaces close to the docks, they will be looking at this area for help. Areas around Thomcastle Street, Cambridge Road, and York Road, would be prime areas to have a parking space in.
Recommendation: Price around €100 per month in this area. If you see a high rate of inquiries, consider raising your prices.
Think about all the money you could be making on game days by renting out your space for sports fans to park. This area is close to both the busy areas of Grand Canal Square and the Aviva Stadium. You could be making upwards of €120 per month by renting out your driveway in this area.
Recommendation: Start at €1720 per month and slowly raise your prices as the inquiries start coming in.
Dublin 4 is extremely popular for professionals to work and park in. When you are pricing your parking space, keep in mind the various amenities and perks that your space can offer, like CCTV coverage, gated entries etc. These can work towards your advantage and you can price higher. If you have any specific questions please reach out at [email protected] or call us at 01 547 4296.
Also, check out our other pricing guides for Dublin 1 and Dublin. Remember to start making money from your parking space at Parkpnp.com.