Profits up 25 per cent at state's biggest landlord

Ires Reit average rent rose to €1,459 a month in first six months of 2017

Ires Reit chief executive David Ehrlich. Pic: RollingNews.ie

The state’s biggest private landlord, Ires Reit, has reported a big increase in profits in the first half of this year, as strong demand and a shortage of accommodation continued to keep rents rising.

The property investment company reported a profit of €31m, up more than 25 per cent from €24.7m a year earlier, as its rental income grew to €17.1m from €14m.

Ires said 98.8 per cent of its properties were occupied, ...