Market Analysis

Ian Guider: New Ires Reit chief will face the same problems – high interest rates and €1,772 rents

Margaret Sweeney has said she plans to step down next spring but rent caps and rising loan repayments will hinder her successor

The luxury Marker apartments, part of the landmark deal that heralded the arrival of Ires Reit to Dublin in 2014. Rents started at €1,900 for a two-bed, then the highest in the city. Picture: Fergal Phillips

You have to go back almost a decade for the landmark deal that made the name of Ires Reit.

Back in 2014, the then recently formed property investment firm splashed out €50 million for a block of apartments beside the Marker Hotel in Silicon Docks. Renting the luxury pads cost a minimum €1,900 a month for a two-bed, then the highest in the city.

It signalled the arrival of Ires as the dominant name in ...