This quarterly market review on the Private Rented Sector in Ireland covers transactions in the residential investment market, the investor pool, charts rental growth, looks at availability and residential development pipeline as well as the outlook across Ireland and the rest of Europe.
Activity in the Private Rented Sector (PRS) continued throughout the summer months and into the third quarter of 2021, as strong domestic and international interest remains for the sector. Quarter two witnessed €710m, while quarter three recorded €414m of assets
transact in their respective periods.
This brings total capital spend in the market to just shy of €1.5bn across 34 deals in the nine months to September end 2021. This represents a sizable increase from the €638.8m recorded in the same nine month period in 2020 and is almost identical to the approximate €1.47bn recorded over 29 deals in 2019, perhaps suggesting that the residential investment market is beginning to align with the trajectory recorded ‘pre-pandemic’. It is worth noting that 2019 is the strongest year of turnover on record in Cushman & Wakefield’s detailed series.