There was €1.2bn invested in Ireland’s Private Rental Sector (PRS) last year, according to a report from property agents Savills Ireland.
he PRS’s share of the commercial property investment market for last year was 39pc – its highest-ever share recorded.
Among the major PRS deals that took place last year was the sale of Blackwood Square near Santry in North Dublin by Cosgrave Property Group to Round Hill Capital/QuadReal for €123.5m.
Domhnaill O’Sullivan, investment director at Savills Ireland, said: “The sector’s appeal to investors is driven by Ireland’s high population growth (relative to the rest of the EU) and low vacancy rates.”
“Rental growth has moderated and the Quarter three 2020 RTB [Residential Tenancies Board] index reported private rental growth of 0.9pc year-on-year in Dublin,” he added.
The office sector accounted for 41pc of total turnover in the commercial property market last year, the ‘Investment Market in Minutes’ report found.
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