Friday 20 January 2017

Paul Melia: Small cohort of investor landlords driving up rents

Published 29/12/2016 | 02:30

'The problem is that the longer the market waits for properties to be built, everyone seeking a home to rent or buy will be hit with high prices.' Photo by Christopher Furlong/Getty Images
'The problem is that the longer the market waits for properties to be built, everyone seeking a home to rent or buy will be hit with high prices.' Photo by Christopher Furlong/Getty Images

In a housing market experiencing price growth due to a shortage of homes, it seems perverse that one in four properties is bought by an investor when so many families are seeking a place to call their own.

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But this figure has remained largely constant over recent years, and masks the fact that investors have also snapped up blocks of unfinished apartments, particularly in Dublin.

Tallaght Cross West, which includes 442 apartments, was sold to Canadian property giant IRES REIT last January for €64m.

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