A so-called cuckoo fund based in the US says it makes more money per apartment rented in Dublin than it does in Los Angeles.
And property giant Kennedy Wilson says it plans to more than double the number of apartments it controls in the capital as what it calls a "rental philosophy" takes hold here.
The American company says it currently rents out around 2,000 properties in the capital for an average of €2,049 per month.
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The Beverly Hills based firm makes far less in the greater Los Angeles area, where on average it takes in €1,731 per month for an apartment, the Irish Independent reports.
Kennedy Wilson aims to increase its portfolio to 5,000 apartments in Dublin city and the cuckoo fund's president, Mary Ricks, says it's "firmly on track" to hit this near to medium-term goal.
The figures show that so-called 'cuckoo funds' can make more money in Ireland than in lavish US destinations.
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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.
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.
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"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."
What are Cuckoo Funds and Vulture Funds
So-called cuckoo funds are when big corporations buy up entire housing developments, preventing individual owners from buying units.
Cuckoo Funds typically buy in cash and in bulk, elbowing out traditional family buyers before letting out apartments.
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Vulture funds invest in companies or properties that are "distressed", usually picking them up for a fraction of their worth.
