As Dublin faces a housing shortage, Irish Residential Properties REIT Plc (“IRES”), continues to deliver quality accommodation for residents of one of Europe’s most vibrant and youngest cities
According to Margaret Sweeney, CEO of IRES, Ireland’s largest private landlord with a portfolio of almost 4,000 properties, “Ireland will continue to be a gateway into the EU for multinationals and a hub for many European or global operations. With the increase in demand for housing over the last decade and a level of supply that is insufficient to meet the growing demand, Ireland needs well-designed properties to accommodate both potential new talent from abroad and high domestic demand. Demand may also be driven by a migration back from native Irish from abroad due to the increase in employment opportunities in Ireland. Ireland has a young, English speaking and well-educated population. When, coupled with its EU membership, robust regulatory framework and competitive tax system, Ireland is an attractive location for leading global companies. As a result, it is projected the population will grow by a million people, approximately 20% by 2040.
“To ensure we continuously improve the quality of living for Ireland’s residents, we strive to provide desirable homes in attractive locations. We seek to adapt and cater to the changing demands of residents – an issue which became very evident during the pandemic, when residents’ needs shifted as more people adjusted to working from home.
“We are the largest provider of residential rental properties in the country, and being growth oriented, we are stepping up to the plate and making sure we positively contribute to economic growth. Our ambition is to build communities and add-value for both our tenants and investors. We offer excellent service for our residents within our high quality, secure, modern homes. We are also focused on our ESG goals, ensuring that we are building more sustainable homes and implementing a range of ESG initiatives across our new and already established developments.
“Our continued success during the pandemic underlines the strength and resiliency of our business model and the trust our residents place on a landlord that recognizes their needs.”
IRES’ expansive portfolio of homes is currently focused on the Dublin market with approximately 98% of their rental properties in Dublin. However, over the coming years, it aims to expand geographically, with Margaret Sweeney noting, “As companies continue to grow operations outside of Dublin – in Cork, Limerick, Galway, and other Irish cities – we will expand our operations to better serve their employees and the housing needs of the economy. Within a complex property market, we partner with companies to ensure their employees have professionally managed homes readily at their disposal. It makes the transition of moving to Ireland that much easier.”
