The country's largest private landlord has said the Government's new rent regulations are already having a "positive impact" on the market, and it predicts they will boost its business in the coming years.
In a trading update for the first three months of the year, Irish Residential Properties REIT, said the impact of the reforms had so far been "in-line with expectations" and it was confident the changes would "contribute positively to portfolio performance over time".
It said the changes to the rental market, along with other Government initiatives around taxation and planning requirements had already driven a "notable increase in market activity".
"Residential investment volumes in Q1 2026, including both completed transactions and assets brought to market, exceeded the total annual investment recorded in each of the previous two years," the company said in its update.
"This evolving market dynamic is positive for the overall market and supportive of I-Res's growth strategy, providing a constructive backdrop for the ongoing development of our portfolio."
I-Res REIT CEO Eddy Byrne said there had been improved development activity on the back of the Government's reforms, with more international capital being allocated to Ireland and "a significant increase in transaction volumes relating to apartment blocks".
"In highly uncertain geopolitical times, we believe our business has demonstrated very strong defensive characteristics, including a strong balance sheet, below market rents and a highly responsive and adaptable internally managed operating platform," he said. "We will continue to consider all opportunities to enhance shareholder value, whether through growth and consolidation, accretive allocation of capital from our ongoing disposal programme and driving operational performance and efficiencies through the platform."
I-Res REIT said it continued to its portfolio of properties 99% occupied, while its margin in the first quarter remained strong at 78%.
It also said its rate of rent collections remained high at 99%.
The company recently announced an forward purchasing agreement for 77 apartments in Naas, Co Kildare, with a total price tag of €31.75m.
