Members and supporters of the group Dublin Tenants’ Association holding a picket outside the headquarters of Ires REIT on Grand Canal Dock, Dublin in July 2017
In The Sunday Times, journalist Gavin Daly reported:
Institutional investors own almost 12,000 rental apartments and houses following a surge in activity in the build-to-rent sector in the first half of the year.
Commercial property agent CBRE said the number of units owned by institutions increased by 2,340 to 11,700 between the end of 2018 and the end of June 2019.
There are 15 institutional buyers active in the sector, which is focused almost exclusively on Dublin.
CBRE said more than €898m was spent on build-to-rent investments in the first half of the year, accounting for almost 43% of the €2.1bn of investment deals in the period.
The agent said the €898m figure was “likely to be exceeded” in the second half of the year as several large build-to-rent deals are expected to be completed in the forthcoming months.
The biggest operators in the rental sector are quoted group Ires Reit and California-based Kennedy Wilson.
— Eoin Ó Broin (@EOBroin) September 2, 2019
Previously: IRES My Case
Pic: Anthony Flynn