Irish Residential Properties REIT, the country's largest private residential landlord, said its occupancy levels remained strong during the first quarter at 99.5%, up slightly from 99.4% at the end of December.
Total revenue in the quarter declined by 3.9%, which it said reflected the impact of strategic asset disposals completed in the second half of 2023. "Our business continues to be supported by highly recurring cashflows and strong rent collections, which remain in excess of 99% and in line with 2023," it added.Eddie Byrne, CEO of I-RES, said the company has continued its momentum from 2023 into the first quarter of 2024, delivering another strong operational performance.
"We continue to believe the medium-term outlook for both the PRS sector in Ireland and the I-RES portfolio remains positive, underpinned by strong levels of demand which far outstrip supply," he added.
Business Eddie Byrne Irish Residential Properties Reit Landlord
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