A US property giant is making more money per apartment rented in Dublin than it is in Los Angeles.
Kennedy Wilson has said it rents properties in the capital for an average of €2,049 per month.
The company makes far less in the Greater Los Angeles area, where it takes in €1,731 per month on average for an apartment, the Independent reports.
The figures show that so-called 'cuckoo funds' can make more money in Ireland that lavish US destinations.
Families in Ireland are increasingly being muscled out of the renting market by the funds - which tend to be big investors buying housing units in bulk and in cash.
House prices in Ireland have risen by 6.6% since 2017
Kennedy Wilson president Mary Ricks said the apartment rental market in Dublin continues to do well and is driven by high demand and not enough supply.
Last week, she said: "Dublin city alone is estimated to require 13,000 units per annum between 2019 and 2022.
"As the renting philosophy evolves in Dublin, we continue to see strong demand for our amenitised, professionally-managed offering.
"And our goal is to be a leader in delivering much needed new housing in Dublin, and we remain firmly on track to hit our near to medium-term goal of growing our multifamily portfolio to 5,000 units there."
