06/08/2018

Ireland's Largest Landlord Doubles Profits

Ireland's largest private landlord has announced it has more than doubled its profits in the first six months year.

Irish Residential Properties REIT (I-RES), which owns over 2,600 properties mainly in Dublin confirmed profits of €69.5 million, compared to €31 million in the same period last year.

In a statement, I-RES CEO Margaret Sweeney said: "We continue to invest in the supply of apartments and houses for rent through a combination of acquisitions and build to let.

"Rental demand remains strong and the supply of residential accommodation remains constrained resulting in a combination of attractive yields and rental growth."


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