From top: the price of shares in Ires REIT have fallen following an emergency rent freeze proposal by Sinn Fein’s Housing Spokesman Eoin Ó Broin in the Dáil yesterday
Further to a Sinn Féin proposal that would freeze rents on existing and new tenancies for three years.
Shares in the State’s largest landlord, Ires Reit, slipped more than 5.5 per cent on Wednesday morning after Sinn Féin introduced a Bill providing for a three-year rent freeze across the private rental market.
Ires, which had 2,771 residential properties as of the end of June, with more in development, could suffer the most of the listed property entities given its exposure to the rental market.
As much as €53 million was cut from the company’s market value as its shares dipped to €1.72.
*scrapes tiny violin”