REIT raises €200m in market listing

Irish Residential Property REIT has raised €200 million in a stockmarket listing, meeting its target as it became the third such real estate investment trust to launch in Ireland in the last year.

It follows Green REIT and Hibernia REIT to the Irish market after the Government made changes to permit the establishment of REITs, which allow investors to own property via a company rather than being direct landlords.

Irish property prices are rising again, after plunging by around 50%.