Photograph 1 of 12 of Apartment 31, Block 4, The Watermill, Raheny, Dublin 5
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Apartment 31, Block 4, The Watermill, Raheny, Dublin 5D05D769

€395,000

2 Bed~2 Bath~73 m²~BER B

What you'll like:

  • Energy efficient rating: The property boasts an impressive B energy rating, which should ensure lower heating bills and potentially qualify you for a green mortgage rate.
  • Generous floor area: Spanning approximately 73 square metres, this apartment offers comfortably proportioned living and bedroom spaces compared to more compact alternatives on the market.
  • South-west balcony orientation: The private balcony benefits from a highly desirable south-west aspect, flooding the open-plan living area with afternoon and evening sunlight while overlooking park views.
  • St Anne's Park adjacency: Being located directly beside St Annes Park gives you immediate access to extensive green spaces, recreational facilities, and weekend markets right on your doorstep.
  • Coastal lifestyle proximity: A short stroll brings you to Dollymount Strand and Bull Island, offering wonderful opportunities for seaside walks and outdoor activities year-round.
  • Excellent public transport: The development sits within convenient walking distance of both bus routes and DART services, providing fast, reliable connections into Dublin city centre.
  • Dedicated basement parking: Having one designated underground car parking space adds significant convenience and security in this bustling coastal suburb.
  • Visitor parking availability: Ample visitor spaces within the development make hosting family and friends much easier without straining parking availability.
  • Elevator access: The building features a functional lift servicing all floors directly from the basement car park, ensuring seamless step-free accessibility.
  • En suite main bedroom: The primary double bedroom includes a private en suite bathroom with a walk-in shower, enhancing daily comfort and privacy.
  • Built-in storage solutions: Both double bedrooms feature fitted wardrobes, and the spacious hallway includes additional storage rooms and a hot press for household organization.
  • Modern kitchen setup: The kitchen is fully equipped with tiled flooring and a comprehensive selection of integrated appliances ready for immediate use.
  • Included contents: Curtains, blinds, light fittings, and appliances are included in the sale, reducing upfront moving costs for a first-time buyer.
  • Gas-fired central heating: The property relies on a conventional gas-fired central heating system, known for reliable performance and familiar radiator-based warmth.
  • Double glazed windows: Fitted double glazing helps insulate the apartment against external noise while retaining indoor heat efficiently through colder months.
  • Well-maintained development: Built around 2006, the Watermill complex presents as a popular and tidy residential scheme with well-kept communal gardens.
  • Proximity to amenities: Raheny and Clontarf villages are nearby, offering a fantastic selection of local shops, cosy cafes, restaurants, and excellent schools.
  • Business park access: Easy commuting access to major employment hubs like the IFSC, Eastpoint Business Park, and the wider motorway network via the M1 and M50.
  • Stable asking price: The tracked asking price of 395,000 euro has remained entirely unchanged since initial observation, suggesting a firm vendor pricing strategy.
  • Strong investment appeal: Given the high rental demand in this coastal Dublin 5 location, the property represents a compelling option for future buy-to-let investors.

But keep in mind:

  • Annual management fees: The management fee is approximately 2,136 euro per annum, representing a substantial ongoing yearly cost that will continue to rise over time.
  • Management fee fluctuations: Because management charges are subject to change, buyers should verify historical increases and upcoming sinking fund levies with the managing agent.
  • Third floor height: Situated on the third floor, you will be heavily reliant on the building lift operating dependently for moving heavy items or groceries.
  • Elevator dependence risk: Any potential mechanical breakdowns of the single building lift could create temporary accessibility challenges, particularly for mobility-impaired residents.
  • Apartment living noise: Sharing walls, ceilings, and floors with adjacent neighbours in an apartment block can occasionally expose you to unavoidable acoustic transmission.
  • Underground parking security: While designated underground parking is convenient, buyers should inspect the basement security gates and lighting to ensure adequate vehicle protection.
  • Gas heating maintenance: Gas-fired boilers require regular annual servicing and eventual replacement, which forms part of your ongoing maintenance responsibilities.
  • Communal grounds upkeep: The upkeep of communal gardens and shared hallways relies entirely on the management company's operational efficiency and landscaping contractor performance.
  • Balcony timber decking: The south-west facing balcony features wooden decking, which will require periodic staining, cleaning, and eventual timber maintenance to prevent rotting.
  • High market entry price: At 395,000 euro for a two-bedroom apartment, buyers must carefully evaluate local ceiling prices to ensure strong long-term capital appreciation potential.
  • Development density: Modern apartment developments involve higher residential density, meaning shared amenities like visitor parking spaces can frequently become congested.
  • Service charge arrears risk: Prospective buyers should instruct their solicitor to confirm that the current owner has cleared all historic management charges and local levies.
  • Sinking fund adequacy: It is vital to check whether the development's sinking fund is sufficiently funded to cover major capital repairs like roof works or lift overhauls.
  • Window ventilation limits: Depending on trickle vent setups and double-glazing specifications, adequate passive ventilation must be monitored to prevent indoor condensation issues.
  • Proximity to busy routes: While transport links are fantastic, properties near major coastal arteries and DART lines should be checked for ambient traffic noise.
  • Bathroom ventilation reliance: Both the main bathroom and en suite rely on mechanical extract fans rather than opening windows, which requires checking for moisture build-up.
  • Storage space limitations: While there are built-in wardrobes and a storage room, bulky seasonal gear may still require creative storage solutions within a 73 sqm footprint.
  • Strict management rules: Multi-unit developments operate under strict house rules regarding pet ownership, noise levels, and subletting, which may restrict your lifestyle choices.
  • Fixed asking price stance: The lack of any recorded price adjustments might indicate an inflexible vendor who is unwilling to negotiate below the listed 395,000 euro.
  • Lack of private garden: Unlike nearby suburban houses, this apartment lacks a private lawned garden, restricting outdoor space entirely to the elevated deck.

Price positioning

?
This comparison depends on limited public and listing evidence, which may be incomplete, outdated or not directly comparable. The score is not a percentage, professional valuation or guaranteed estimate. Ask an independent qualified valuer before relying on a property value.
The asking price looks moderately undervalued compared with the available evidence.
  • The asking price appears somewhat undervalued relative to recent transaction figures within the same development, suggesting a potentially attractive entry point for prospective buyers seeking a modern apartment in this popular coastal Raheny location.
  • Valuation signals indicate that comparable units in the immediate area have achieved notably higher figures on the register, pointing toward strong underlying market demand and a high probability of competitive bidding well beyond the initial guide price.
  • Support for a higher transaction outcome is heavily underpinned by the property's strong BER energy rating, desirable south-west facing balcony overlooking St Annes Park, and dedicated underground parking within a well-maintained modern development.
  • Potential risks that could moderate competitive bidding include ongoing management fees of over two thousand euros annually, though overall market sentiment and lifestyle appeal strongly reinforce robust purchaser interest and competitive tension.

Build Analysis

What we know from similar construction types

  • The property is a modern third-floor two-bedroom apartment built around 2006, offering approximately 73 sq m of living space.
  • Features gas-fired central heating, double-glazed windows, lift access, and a designated underground car parking space.
  • A buyer should verify the annual management company fee (approximately €2,136) and what services, building insurance, and sinking fund contributions are included.
  • As an upper-floor apartment, a buyer should investigate the sound insulation between floors, roof maintenance history, and fire safety compliance in common areas.

Heating cost*

Estimated expense to heat this property every year

  • Estimated annual heating cost: €800 to €1,100.
  • Explanation: Given the 73 m² floor area and a B energy rating, the apartment benefits from strong energy efficiency, keeping gas-fired central heating costs relatively moderate.

Pollution Safe

9/10

Environmental situation to investigate

  • The area is predominantly residential and recreational, showing no immediate proximity to heavy industrial plants, large incinerators, or active major landfills.
  • Any historical or legacy industrial pollution concerns in the wider Dublin coastal district should be independently verified by prospective buyers.

Flood Safe

8/10

Water overflow reports to follow up

  • While the location is coastal and near Bull Island and Dollymount Strand, the apartment itself is situated on the third floor, significantly reducing direct flood risks to the living space.
  • Buyers should review local authority flood maps and verify the basement underground parking area's vulnerability to extreme weather events.

Recent Local Sales

Verified residential transactions published in the previous five years

Sales on the same street or estate

  • APT 118, BLOCK 1, THE WATERMILL DUBLIN 5

    Sale date
    Declared sale price
    €530,000.00
  • 120 THE WATERMILL, WATERMILL RD, RAHENY DUBLIN 5

    Sale date
    Declared sale price
    €565,000.00
  • 96 THE WATERMILL, BETTYGLEN, RAHENY DUBLIN 5

    Sale date
    Declared sale price
    €473,000.00
  • Apt 83 The Watermill, Watermill Road, Raheny

    Sale date
    Declared sale price
    €444,000.00
  • 36 THE WATERMILL, RAHENY, DUBLIN 5

    Sale date
    Declared sale price
    €590,000.00

Recent sales in the wider Raheny area

  • 47 EDENMORE AVE, RAHENY, DUBLIN 5

    Sale date
    Declared sale price
    €470,000.00
  • 252 TONLEGEE ROAD, RAHENY, DUBLIN 5

    Sale date
    Declared sale price
    €457,500.00
  • 160 BRIARFIELD GROVE, KILBARRACK, DUBLIN 5

    Sale date
    Declared sale price
    €453,000.00
  • 43 RATHMORE PARK, RAHENY, DUBLIN 5

    Sale date
    Declared sale price
    €650,000.00
  • 162 KILMORE RD, COOLOCK, DUBLIN 5

    Sale date
    Declared sale price
    €465,000.00

Source: Property Services Regulatory Authority (PSRA), Residential Property Price Register (PPR). Matching uses address information published by the PPR rather than measured map distance. It may omit nearby properties on differently named streets.

Last Sale

A confidently matched previous PPR transaction for this property

No confidently matched previous sale was found in the Property Price Register.

Buyer fees*

Associated expenses guide

  • Estimated stamp duty: €3,950 — 1% of €395,000.
    ?
    Based on the asking price shown on this page, using standard residential stamp-duty rates. No adjustments are made for VAT, reliefs, mixed-use property or additional land. The final purchase price and your circumstances may change the amount payable.
  • Solicitor legal fees: €1,500 to €3,000 plus VAT and outlays.
  • Land registration fees: €400 to €800 depending on the property value and registration type.
  • Property valuation fees: €150 to €300 for a standard mortgage valuation report.
  • Surveyor fees: €300 to €600 depending on the level of detail required for a structural survey.
  • Annual home insurance: €350 to €650 depending on the policy level and contents coverage.

Forum Talk

What people are saying about this area

  • Residents in the Raheny and Clontarf areas frequently highlight the exceptional lifestyle benefits of living adjacent to St Annes Park and Dollymount Strand.
  • Local community forums often discuss transport links, praising the convenience of nearby DART services and the coastal cycle track leading directly to the city centre.
  • Discussions regarding the Watermill development generally focus on its peaceful setting, secure underground parking, and well-maintained communal grounds.
  • Property market observers note high demand for apartments in the Dublin 5 coastal belt due to limited supply and strong appeal for first-time buyers and downsizers.

LifeFit Assessment

How well this property may suit your lifestyle

Family

7 areas
  • Young Children

    The 73 m² apartment layout with two bedrooms offers manageable space for young families, and proximity to local schools and St Anne's Park is ideal. However, apartment living on the third floor with a lift requires managing buggies and lacks a private ground-level garden.

    6/10
  • Teenagers

    Two double bedrooms provide independent sleeping quarters, but the 73 m² overall floor area may feel somewhat cramped for growing teenagers requiring personal space and storage.

    5/10
  • Multi-generational Living

    With a floor area of 73 m², two bedrooms, and two bathrooms, the property lacks the spatial independence and square footage required for comfortable multi-generational living.

    2/10
  • Single Buyers

    This modern, well-maintained two-bedroom third-floor apartment is an excellent choice for single buyers seeking a manageable home with strong transport links to the city centre and local amenities.

    9/10
  • Couples

    Offering two double bedrooms, an en suite, an open-plan living and dining area, and a south-west facing balcony, this apartment provides a comfortable and stylish living arrangement for couples.

    9/10
  • Empty Nesters

    The property is ideal for those looking to downsize from larger homes, featuring lift access from the basement car park, a manageable layout, and proximity to village amenities and coastal walks.

    9/10
  • Retirees

    Lift access, gas fired central heating, and a low-maintenance apartment format suit retirees well, though buyers should verify long-term management fees and ease of accessibility for ageing in place.

    8/10

Work

3 areas
  • Remote Working

    The bright open-plan layout and secondary bedroom provide options for setting up a home office space, and buyers should verify broadband speeds within the building.

    8/10
  • Hybrid Commuting

    Conveniently located within walking distance of bus and DART services, with straightforward access to the City Centre, IFSC, and Eastpoint Business Park for hybrid workers.

    9/10
  • Retired

    The low-maintenance nature of apartment living, lift access, and proximity to local amenities make it very practical for retirees who have stepped away from work.

    8/10

Practical

8 areas
  • Ageing in Place

    Lift access from the basement car park to the third floor assists with mobility, though buyers should verify long-term apartment accessibility and management policies.

    7/10
  • Low Maintenance

    As a modern 2006-built apartment spanning 73 m² with gas fired central heating and double-glazed windows, external and structural maintenance is managed via the management company.

    9/10
  • Secure Gated Entry

    The development features an intercom system and underground parking, though buyers should verify the exact level of gated perimeter security across the complex.

    7/10
  • Minimalist Design

    The open-plan living and dining configuration, wooden flooring, and clean layout lend themselves well to a minimalist aesthetic.

    8/10
  • Flexible Floor Plans

    As a standard apartment layout encompassing 73 m², structural changes are constrained, though the two double bedrooms offer flexible usage as guest rooms or home offices.

    5/10
  • Heritage Home

    Built in circa 2006, this is a modern development rather than a period or heritage property.

    2/10
  • Ecological Setup

    Achieving a B BER rating indicates good energy efficiency, helped by double-glazed windows and modern insulation standards.

    7/10
  • Outdoor areas

    The property benefits from a large south-west facing decked balcony overlooking St Anne's Park, alongside communal gardens and nearby parklands.

    7/10

Interests

9 areas
  • Gardening

    As a third-floor apartment, private outdoor space is limited to a south-west facing balcony with decking, though communal gardens are available on the grounds.

    3/10
  • Walking

    The property is adjacent to St Anne's Park and the coastal cycle and walkway, offering immediate access to extensive walking routes towards Clontarf, Howth, and Sutton.

    10/10
  • Gym

    While there is no on-site gym in the development, the surrounding suburban area offers good accessibility to local fitness facilities and wellness centers.

    6/10
  • Cycling

    The location is positioned directly beside the coastal cycle and walkway, providing dedicated routes toward Clontarf, Dublin City, Howth, and Sutton.

    10/10
  • Golf

    The apartment is ideally situated adjacent to St Anne’s Golf Club and Royal Dublin Golf Club, making it a prime location for golf enthusiasts.

    9/10
  • Fishing

    Proximity to the coast offers sea fishing opportunities nearby, though dedicated freshwater or specialized fishing spots will require further travel.

    6/10
  • Horse Riding

    The suburban and coastal setting is densely populated, meaning equestrian facilities and stables are not immediately on hand locally.

    4/10
  • Water Sports

    Proximity to Dollymount Strand and coastal waters provides excellent access to local water sports activities such as kitesurfing and sea swimming.

    9/10
  • Entertaining

    The open-plan living and dining room connected to a spacious south-west facing balcony provides a pleasant setting for hosting guests, though overall square footage is capped at 73 m².

    7/10

Lifestyle

5 areas
  • Quiet Living

    Set within a popular development overlooking St Anne's Park, the third-floor position helps distance the home from ground-level noise, though urban and park-adjacent surroundings still experience ambient activity.

    7/10
  • Rural Living

    Located in a built-up suburban area of Dublin 5 near Raheny and Clontarf villages, this property offers an urban apartment lifestyle completely removed from rural living.

    1/10
  • Village Living

    The development is within a short stroll of both Raheny and Clontarf villages, providing easy access to local shops, restaurants, and community services.

    9/10
  • Coastal Living

    Situated within walking distance of Dollymount Strand, Bull Island, and the coastal cycle and walkway, the location is exceptionally well-suited for coastal enthusiasts.

    9/10
  • Urban Living

    With easy access to the City Centre, IFSC, Eastpoint Business Park, bus routes, and DART services, the location provides strong convenience for urban commuters and city dwellers.

    8/10

Social

6 areas
  • Community Involvement

    Proximity to Raheny and Clontarf villages provides a strong community feel with local clubs, events, and neighborhood associations.

    7/10
  • Café Culture

    The short stroll to nearby villages ensures easy access to a variety of local cafes, restaurants, and social meeting spots.

    8/10
  • Nightlife

    Local villages offer a selection of local pubs and dining spots, but residents seeking extensive late-night venues will likely travel closer to Dublin city centre.

    6/10
  • Health/Wellness groups

    The active community around St Anne's Park and local wellness facilities support various fitness and health groups.

    7/10
  • Networking Opportunities

    Easy transit links to the IFSC, Eastpoint Business Park, and Dublin City Centre facilitate professional networking and career events.

    7/10
  • Tech-Hub Connectivity

    Close proximity to major Dublin employment hubs like the IFSC and Eastpoint Business Park offers strong structural connectivity for tech professionals.

    8/10

Listing information

Agent
Grimes (Clontarf)
Phone
01 853 0630
Current status
active
Published on HouseDelve
26 October 2026
Correction
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Property reference: HD-72E5ABHouseDelve · Republic of Ireland

Report checks

Sources used: Public marketplace, Property Price Register, and grounded web research where available.

Automated quality checks: Passed

Estimate — not advice. Actual costs and outcomes can vary materially. Obtain current quotations and professional advice before making financial or property decisions.