Company Profile

Irish Residential Properties REIT (IRES REIT) is the largest owner of private rental homes in Ireland. It listed in April 2014 and has grown substantially through organic growth and acquisitions and developments. It has one of the most modern and energy-efficient portfolios in the listed peer group. Ireland has one of the largest structural imbalances between supply and demand of any housing market in Europe, driven by strong population growth in Europe associated with growth in foreign direct investment. Supply is impacted by the ongoing exit of buy-to-let investors. IRES has one of the highest cap rates in the peer group, and its organic growth is set to accelerate following recent changes to rent regulations.