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

Yesterday.

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.

Meanwhile…

Build-to-rent investors grab 12,000 properties in Dublin (Gavin Daly, The Sunday Times)

Previously: IRES My Case

REIT It And Weep

Pic: Anthony Flynn

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6 thoughts on “Just Like That

  1. eoin

    What’s going to happen when the Ranelagh galoot does publish the July homeless figures? The June figures showed 10,172 in emergency accommodation, the fifth month when the numbers had exceed 10k. According to many people working in the sector, the true number that should be counted under emergency accommodation should be around 15,000 but Murphy is manipulating the figures so much, and is also excluding those in direct provision who can’t find traditional housing and those in temporary abuse refuges.

    When the figures are eventually published, Murphy will say they’re “disappointing” but clutch at any straw of optimism “there’s one less person homeless in Ballydehob”, O’Broin will call it a scandal and demand more homes are built, no poo Sherlock. And then it’s wash and repeat.

    1. Col

      “There are no easy solutions”…”we are making good progress”…”inherited a difficult market from Fianna Fáil”..
      Repeat ad nauseam.

  2. eoin

    The galoot from Ranelagh has just published the homeless report for July 2019.

    https://rebuildingireland.ie/news/minister-murphy-publishes-new-quarterly-progress-report-july-report-on-homelessness/

    There was an increase of around 100 net in July with 10,275 now in what the govt defines as “emergency accommodation” of which 3,778 are children.

    How did Murphy describe the increase or the fact that, for the sixth month, there are more than 10k in emergency accommodation. He had no words. Literally. Not even “disappointing”. He didn’t even have an explanation for publishing the figures late. And this is a Minister in whom Leo has full confidence.

    1. eoin

      There is a separate report today to tell us a bit more about the homeless. How many kids have been in emergency accommodation in Dublin for more than 2 years? 378. Just think about that.

      How many kids nationwide in emergency accommodation for more than 2 years? Murphy doesn’t say.

      What’s the max that a kid has been in emergency accommodation? Murphy doesn’t say.

      https://rebuildingireland.ie/news/minister-murphy-publishes-new-quarterly-progress-report-july-report-on-homelessness/

  3. Termagant

    Is there some law preventing the state from investing in these properties on the behalf of the taxpayer?

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