Earlier at lunchtime.
Members and supporters of the group Dublin Tenants hold a picket outside the headquarters of Ires REIT, Ireland’s biggest landlord, on Grand Canal Dock, Dublin.
It follows Ires launching The Maple – an apartment complex in Sandyford.
In May, Fiona Reddan in The Irish Times, reported that two-bed apartments in the complex were set to be rented out for €2,750, thus setting a new rental price record in the area.
Last night, Dublin Tenants released a statement about their planned picket, stating:
The protest has been called in response to escalating rents, IRES’ treatment of tenants and the wider issue of government supported vulture fund activity in Dublin’s crisis hit housing market. IRES was established in 2014 but has already amassed 2378 properties, making it Ireland’s largest landlord, and plans to double its portfolio over the coming years. 67% of its assets were acquired from NAMA. As a Real Estate Investment Trust it enjoys specific tax breaks, REITs are not subject to tax on rental income or on capital gains arising from the disposal of assets.
Previously: REIT It And Weep
Pic: Anthony Flynn