IRES REIT expects rental shortage to fuel growth

One of the country’s largest residential landlords is expecting significant growth during 2016 despite the Government’s two-year rent freeze introduced late last year.

Irish Residential Properties REIT (IRES) had a strong year with profit to the end of December coming in at €30.8m.

Basic earnings per share of 8.4c came in short of broker projections of 9.8c while IRES declared dividends of €13.1m, or a dividend per share of 3.2c.