Ireland’s rich architectural heritage is attractive — but does it make financial sense in 2025? With energy efficiency now top-of-mind for both tenants and lenders, many investors are rethinking their love affair with older homes.
New-builds offer BER A ratings, making them highly attractive to tenants conscious of energy costs. They also come with much lower ongoing maintenance expenses and qualify for a range of tax incentives, especially outside of Dublin. On average, maintenance costs for a new home are 40–60% lower than for a period property.
Older properties — particularly those built before the 1950s — often have poor energy ratings (D or below), higher insurance premiums, and require expensive retrofitting to comply with upcoming regulations. These costs can easily reach €30–50K per unit and don’t always translate to higher rent.
On a net-yield basis, new builds in outer Dublin and second-tier cities are outperforming period homes by 1.2–1.6%. They also benefit from lower tenant turnover and fewer repair callouts.
Still holding out for that Georgian? Do the numbers first. A newer build might offer better long-term returns.