Property

Reits are ‘ineffective and inferior’ due to government reforms, KPMG says

The big four firm said changes introduced in 2019 ruined the structure

The big four firm said changes introduced in 2019 “fundamentally damaged the attractiveness of the Irish Reit regime”. Picture: Jack O’Kennedy

Real estate investment trusts (Reit) in Ireland are suffering from unnecessary government reforms, KPMG has said.

The big four firm said changes introduced by the government in 2019 “fundamentally damaged the attractiveness” of the regime.

It blamed these reforms for the wide-spread “de-Reiting” in Ireland, which currently has just one – Ires Reit, the state’s largest landlord.

Reits are companies that buy income producing real estate. They are listed on stock exchanges meaning investors can ...