Ires Reit: New rent rules offers 'opportunities' to invest in new stock

Ires Reit said its growth in earnings was achieved despite the sale of approximately 2% of units in its portfolio

Ires, which has a portfolio valued at €1.23bn, has targeted the sale of 315 units across a three- to five-year period, however, just 57 have been sold to date. Photograph: Sam Boal / RollingNews.ie

The chief executive of the country’s largest private landlord has said the recent changes to rent regulations will bring “liquidity into the market” and new opportunities to invest in residential units which have not been available over the last few years.

Eddie Byrne, chief executive of Irish Residential Properties (Ires) Reit, was speaking after the company published its latest results for the first half of the year. It showed that revenues dipped slightly, falling by 0.4% to €42.6m of which €33.3m was net rental income.