Company Profile

Irish Residential Properties REIT (IRES REIT) is the largest owner of homes in the Irish private rental sector. It listed in April 2014 and has grown substantially through acquisitions and the development of private rental properties. It has one of the most modern and energy efficient portfolios in the listed peer group. Despite its high-quality nature, it also has one of the highest gross rental yields in the peer group. Ireland has one of the largest structural imbalances between supply and demand of any housing market in Europe. It has one of the highest rates of population growth in Europe, which is partly driven by net migration associated with growth in foreign direct investment. The growth in rental stock is lagging far behind the growth in demand and is impacted by the ongoing exit of buy-to-let investors from the private rental market.