The latest Dublin Docklands Residential Report (2018) by agent Owen Reilly found that 76 per cent of purchases were by cash buyers, and 66 per cent of properties were bought as investments, indicating the continued strong growth and demand in the region following the depths of the recession.

The area has come a long way from its bleaker origins on Misery Hill which lies adjacent to Grand Canal Dock. It was here, 700 years ago, where impoverished lepers gathered and corpses were hung to rot as a deterrent to would-be troublemakers.

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Grand Canal Dock and Hanover Quay enjoy a prime location in the Docklands – the apartments to the front have southerly aspects which flood the rooms with light. Views take in the soaring Alto Vetro tower, set against a backdrop of the Dublin Mountains and Grand Canal Dock itself, which in the warm weather is busy with kayakers and pleasure boats.

Number 26 Hanover Dock, a sixth floor two-bed apartment overlooking the water, is currently listed with Reilly seeking €690,000.

International tenants

Waterside views in the Docklands can add a premium of around €100,000 to the price of an apartment and Reilly estimates that the apartment, which extends to 75sq m (807sq ft), can command a rental income in the region of €3,200 per month – his report also found that 88 per cent of rentals are to international tenants.

The property, which was developed in 2006 by Park Developments, is in excellent condition considering its age and features two, albeit narrow, terraces overlooking the water and Martha Schwartz-designed plaza. The terrace to the front has a "winter garden feature" whereby it can be used in cooler weather by closing off the outer sliding glass windows, which fold away to the side.

Both bedrooms are good sized doubles and the main bedroom is en suite. The property, in turnkey condition, is accessed through an internal courtyard designed by Dermot Gavin and comes with one designated parking space. Management fees are €2,400 annually.