A US based firm is collecting nearly $1,000 more in average rent in Ireland than in the United States, the Sunday Business Post has reported.
SBP’s Killian Woods says “New filings published by the US real estate firm, which has 2,067 rental units in Ireland, show the average monthly rent in its Irish residential portfolio is now $2,525 (€2,075) per unit. This is significantly ahead of its average in the US, where it collects $1,598 per unit each month.”
The firm, Kennedy Wilson, is now the largest institutional landlord in Ireland, benefitting as many other funds and companies do from lucrative tax breaks to buy up and build property here.
There has been outrage in recent weeks in regard to the purchase of whole estates of family homes by institutional investors, who critics say are pricing first time buyers out of the market.