Buying an apartment in Ireland - Tips and considerations

Published: July 20, 2023 by  Marguerite Cotter

Like any property purchase, it's crucial to consider all the factors involved to ensure you make a well-informed decision.

Buying an apartment in Ireland can be an exciting and worthwhile investment. In this blog we will go through some tips and considerations when buying an apartment.


Determine your budget before you start looking for apartments. Consider your savings, mortgage options, and other associated costs like stamp duty, legal fees, and moving expenses. Determine what you can afford as a house deposit which is usually a minimum of 10% of the purchase price for first time buyers and 20% for second time buyers. Look at the level of monthly mortgage repayments you can afford each month in the event you need a mortgage.

Don’t forget to factor in additional costs which may arise such as property tax, home insurance, maintenance, and repairs. With an apartment purchase you should also factor in that you may be compelled to contribute to unexpected building expenditure. This could be as example bills relating to upgrading the buildings compliance with new fire alarm legislation.


Research different areas in Ireland to find the one that suits your lifestyle and needs. Consider factors like proximity to work, schools, public transportation, amenities, and safety. Review the accessibility of public transportation and major roads. Good transport links can add convenience and value to your investment.

Examine other aspects of the community such as crime rate and Community 'Fit'. Talk to people living in the area and find out if there is any any history of antisocial behaviour. While there are effective measures you can implement for peace of mind such as a house alarm system, you don’t want to find yourself uncomfortable living in an area. An apartment purchase is a significant investment, and you should do as much research as you can to pick the right area for you.

Research the current property market in Ireland. Understand the trends, average property prices in the area you're interested in, and potential for capital appreciation.

Apartment assessment

Have a thorough inspection of the apartment block to check for any structural issues, maintenance requirements, and compliance with building regulations. If you're unsure, consider hiring a professional property inspector. Remember, with an apartment you are essentially buying a part of a building to live in unlike buying a home where you own the whole structure.

The Building Energy Rating certificate is required for all residential properties in Ireland. Check the rating to assess the property's energy efficiency and BER certificate.

With an apartment you can also expect to pay management fees assuming it is part of a complex which is most common. A management company will be in charge of maintaining communal areas and the overall apartment complex itself. Understand their fees and responsibilities. Service chares will also be another expense such as waste disposal. Ensure you understand the costs and what services are covered.

Financing the apartment purchase

Before you commence looking at apartments, it might be time to start applying to lenders to try to get ‘approval in principle’. This will mean you can start your search knowing what you can borrow and what’s in budget. This is assuming you wish to go down the mortgage route.

The size of mortgage you get, will be determined by affordability. Lenders whether a bank or credit union will examine a range of factors. Your income, employment status, outgoings, credit history, savings, and money management will all be under the microscope. The Competition and Consumer Protection Commission (CCPC) provide more information on applying for a mortgage.

Buying process for an apartment in Ireland

In terms of the buying process for an apartment, you should engage with an experienced conveyancing solicitor familiar with Irish property law. They will guide you through the buying process for an apartment, review contracts, and conduct necessary building searches.

Familiarize yourself with the buying process for an apartment in Ireland. It typically involves making an offer, exchanging contracts, and paying a deposit.

Also, look into home insurance options to protect your investment against unforeseen events like fire, theft, or natural disasters. Insurance for an apartment will differ to a house so you look at the different options available.

Analyse future sale potential

Often, people purchase an apartment as their first home in order to “get on the housing ladder”. Apartments are usually less expensive than houses in terms of initial purchase outlay. As your family grows, people can often then wind up looking to purchase a larger home.

Therefore, even if you plan to live in the apartment for a long time, it's essential to consider the apartment’s resale potential. A property in a desirable location with good amenities is more likely to attract potential buyers in the future. Typically, a one bedroom apartment will not command as much interest or a high resale price compared to a 2 or 3 bed apartment.

Don’t forget to look at neighbourhood development. Research any planned developments in the area. New developments can impact property values and the overall ambiance of the neighbourhood. Having an apartment near a new infrastructure development like the anticipated Metrolink could make transport easier for future apartment inhabitants. As an example, this could increase the apartment’s value in the future through increased buyer demand.


Remember, buying an apartment in Ireland is a significant decision, and it's crucial to take your time, do your research, and seek professional advice when needed. If you are also interested in buying a house, one of our recent blogs may be of interest on the steps to buying a house in Ireland. Good luck with your apartment hunting in Ireland!


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