US property giant Kennedy Wilson is continuing to reap massive rents for its 2,000 apartments in Dublin, with the units still commanding average monthly prices of $2,599 (€2,126) despite the impact of the pandemic.
he company, which also owns the Shelbourne Hotel in Dublin, generates significantly more rent on average from its residential properties here than it does in US locations such as Los Angeles.
Ireland is the only country outside the United States where the company owns residential properties.
The company said its properties in northern California were commanding average monthly rents of $1,972 (€1,613) as of the end of December. Its properties in southern California were generating $1,962 a month on average.
Beverly Hills-headquartered Kennedy Wilson owns a total of 2,080 apartments in Ireland, the vast majority of them in Dublin.
Companies such as Kennedy Wilson have been nicknamed ‘Cuckoo Funds’, for sometimes buying entire apartment schemes
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