Irish Residential Properties REIT Plc Reports Strong Q1 Performance

Irish Residential Properties REIT Plc, known as I-RES, has released a trading update for Q1 2025, showing robust operational results. The portfolio maintained a near-full occupancy rate of 99.7%, driven by high demand for rental housing in Ireland. This performance reflects the efficient management and quality of I-RES's asset portfolio.

Net Rental Income margin improved compared to H2 2024. The company continues to implement income generation and cost reduction strategies, capitalizing on unused real estate aspects. Rent collections remained strong above 99%, consistent with 2024 figures.

I-RES remains financially strong, completing a refinancing of main debt facilities, leading to an increased LTV of 45.4%. The strategic disposal program continues successfully, with all planned units sold above book value and more in the pipeline.

The board, committed to maximizing shareholder value, executed a share buyback of €5 million. CEO Eddie Byrne expressed positivity about the company's trajectory and commitment to long-term market opportunities.