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Irish Residential Properties REIT PLC on Thursday noted strong underlying demand for high quality rental properties in Dublin, as it reported a narrowed annual loss. Ireland’s largest provider of private rental accommodation said its pretax loss narrowed to €6.7 million in 2024 from €114.5 million in 2023. Revenue from investment properties fell 2.9% to €85.3 million in 2024 from €87.9 million in 2023. Net rental income declined 3.6% to €65.5 million from €67.9 million. Notably, the company reported a decrease in fair value revaluation of investment properties of €33.7 million in 2024, lower than €141.8 million in 2023. EPRA net asset value per share as at December 31 fell 3.9% to 126.5 euro cents from 131.7c a year ago. The company said its portfolio continued to be effectively fully occupied at 99.4% at the end of 2024, the same rate as a year prior. This reflected ‘both our highly effective operating platform and the continued strong underlying demand for high quality rental properties in Dublin.’ Irish Residential proposed a final dividend per share of 2.20 euro cents, up 10% from 2.00c a year prior. This brings the total payout for 2024 to 4.08 euro cents, down 8.3% from 4.45c in 2023. The company said it intends to start a share buyback programme of up to €5 million. Looking ahead, Irish Residential said: ‘The company remains well placed to deliver on its strategic objectives, drive growth and shareholder value with long term structural drivers of growth continuing to drive demand for rental accommodation coupled with an improving economic landscape.’ Irish Residential shares fell 1.8% to 99.2 euro cents on Thursday afternoon in Dublin. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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