Weekly Irish property market news and insights – for the industry, by the industry

Before we get stuck into the general property news of the week, below are the local and international stories that might be of particular interest:

• Has anyone here tried OpenAI yet? The Property District team has been experimenting with the boundaries of its current potential and limitations. The AI can only act on inputted data, it cannot browse the internet for new information (discernment would be a hurdle) so its Ireland-specific potential is very limited. Also, it cannot/doesn’t (yet!)  use known data to craft forecasts of future trends. We tested generating property descriptions and while they were generic, they were of a better standard than many we read on Daft and MyHome right now! For global research, it is useful and over time it will spit out very neatly and grammatically correct quarterly reports, but this particular Ai will not be generating thought leadership for the foreseeable future. ‘CEO admits ChatGPT risks. What now?’ https://venturebeat.com/ai/openai-ceo-admits-chatgpt-risks-what-now-the-ai-beat/

 

• The Property District team is proud to partner with Construction Network Ireland to launch the inaugural *CNI Persons of Impact* initiative for 2022. After a challenging few years, this is aimed at recognising the industry leaders who are making a difference. Help us to identify the real change-makers who inspire you, those who are having a positive impact on our industry right now: Nominate at 👉 www.personsofimpact.ie

 

• Dáil votes confidence in Housing Minister Darragh O’Brien (86:63). The Minister spoke passionately at the end of the debate, saying everyone had a role to play in solving the crisis and “not to capitalise on it, not to manipulate it, not to sow division.” https://m.independent.ie/irish-news/politics/housing-minister-darragh-obrien-wins-dail-confidence-vote-42217703.html

 

• Varadkar pledges action on homelessness and housing: Fine Gael leader says government will go ‘all out’ to accelerate its housing plan as he is elected Taoiseach for the second time https://www.businesspost.ie/politics/varadkar-pledges-action-on-homelessness-and-housing/

 

• Landowners reminded of 1 January deadline for submissions on Residential Zoned Land Tax Draft Maps https://www.gov.ie/en/press-release/87f3b-landowners-reminded-of-january-1st-deadline-for-submissions-on-residential-zoned-land-tax-draft-maps/

 

• What can we learn from other countries about affordable housing? https://www.rte.ie/brainstorm/2022/1129/1338966-affordable-housing-ireland-netherlands/

 

• State should take equity stake in houses built by housing bodies, committee told: Housing body executive says mixed schemes are rejected because of view that ‘private developers are bad people’ https://www.irishtimes.com/ireland/housing-planning/2022/12/13/state-should-take-equity-stake-in-houses-built-by-housing-bodies-committee-told/

 

• Circle in talks with AIB to deliver large-scale social housing project: Direct-build plan for 600 homes in Dublin and adjacent counties represents a shift away from the developer-led model https://www.businesspost.ie/news/circle-in-talks-with-aib-to-deliver-large-scale-social-housing-project/

 

 

• Councils to secure proportion of any land value increase arising from residential zoning decisions: Land value increases when planning decisions are made to zone land, with the uplift going to the landowners or developers, but not to the State.  https://www.thejournal.ie/land-value-sharing-housing-5945750-Dec2022/

 

• Resident groups to be barred from taking High Court actions against planning decisions: Draft laws set for Cabinet approval on Tuesday would make it harder for objectors to challenge planning decisions  https://www.irishtimes.com/ireland/housing-planning/2022/12/12/planning-law-changes-will-prevent-resident-groups-from-taking-high-court-cases/ Also: Strict timelines on judicial review times and who can take them in major planning overhaul: The draft bill will also see An Bord Pleanála reformed and changed to An Coimisiún Pleanála.  https://www.thejournal.ie/planning-reform-judicial-review-government-guidelines-an-bord-pleanala-5944926-Dec2022/

 

• Fire risk makes Dublin apartments offered for social housing uninhabitable, council says: Herberton scheme of 39 apartments sold by Kennedy Wilson to Dublin City Council in lieu of apartments in ‘premium’ developments https://www.irishtimes.com/ireland/housing-planning/2022/12/14/fire-risk-makes-dublin-apartments-offered-for-social-housing-uninhabitable-council-says/ Also: Fire safety defects detected in up to 500 Dublin apartments: Inadequate fire prevention measures throughout social and private apartments on former Fatima Mansions estate in Dublin  https://www.irishtimes.com/ireland/dublin/2022/12/16/fire-defects-affect-500-herberton-apartments/

 

• North Mayo pyrite-affected homes to be demolished and rebuilt  https://www.con-telegraph.ie/2022/12/14/north-mayo-pyrite-affected-homes-to-be-demolished-and-rebuilt/

 

• “Self-builders are another group nobody is supportive of — but they’re responsible for about 4,000-5,000 new dwellings every year. Even while being discriminated against, they still deliver. So rather than seeing it as something that needs to be stamped out, maybe we should take a step back and see if we can stimulate the self-building sector?” https://m.independent.ie/irish-news/news/new-planning-bill-wont-help-solve-housing-crisis-say-experts-but-self-builds-just-might-42227581.html

 

• OECD tells Central Bank easing home loan rules risks pushing prices higher: European think tank says move implemented in October could destabilise economy https://www.businesspost.ie/news/oecd-tells-central-bank-easing-home-loan-rules-risks-pushing-prices-higher/

 

• The National Property Awards – Nominations are now open for the 2023 National Property Awards, which will take place at the InterContinental Hotel, Dublin on Thursday 9th March.  Companies are invited to submit in all applicable categories… NOMINATE NOW https://www.nationalpropertyawards.ie/categories/

 

• Ireland needs to build 50,000 new homes a year, survey suggests  https://www.breakingnews.ie/ireland/ireland-needs-to-build-50000-new-homes-a-year-survey-suggests-1404506.html

 

• Concerns about mortgage-to-rent provider repairs flagged months ago: Internal records show several local authorities complained about Home for Life repairs https://www.irishtimes.com/ireland/housing-planning/2022/12/12/concerns-about-mortgage-to-rent-provider-repairs-flagged-months-ago/

 

• Church of Ireland rows in behind appeals to offer accommodation to Ukrainian refugees: ‘They need shelter, welcome and a home in the most practical of ways possible,’ says archbishop  https://www.irishtimes.com/ireland/dublin/2022/12/11/church-of-ireland-rows-in-behind-appeals-to-offer-accommodation-to-ukrainian-refugees/

 

• New law to bar residents’ associations from High Court actions against planning decisions: Draft laws set for Cabinet approval on Tuesday would make it harder for objectors to challenge planning decisions https://www.irishtimes.com/ireland/housing-planning/2022/12/12/planning-law-changes-will-prevent-resident-groups-from-taking-high-court-cases/

 

• ESRI expects economy to grow at ‘significantly reduced pace’ in 2023 https://www.rte.ie/news/business/2022/1214/1341872-esri-expects-economy-to-grow-at-reduced-pace-in-2023/ Also, Tech and pharma output means Ireland will skirt around recession, according to ESRI report  https://m.independent.ie/business/tech-and-pharma-output-means-ireland-will-skirt-around-recession-according-to-esri-report-42220091.html

 

• Custom House Capital victims paid €11.3m of compensation  https://m.independent.ie/business/custom-house-capital-victims-paid-113m-of-compensation-42222927.html

 

• 13 predictions for tech platforms in 2023 / From controversy over AI to a Supreme Court ruling on moderation. Plus, what we got wrong about 2022.  https://www.theverge.com/2022/12/16/23512588/tech-platform-predictions-2023-facebook-twitter-moderation

 

If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/sunday-roundup/

As always, you might let me know if I have missed out on any relevant property news by emailing  carol@propertydistrict.ie.

(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)

 

SUNDAY LISTEN

What started as #PropertyMatters, a single 60-minute show on Dublin South FM 93.9FM every Tuesday night, has now evolved into an online station hosting the very best construction, urban planning, property and proptech radio shows and podcasts from around the world. Our new website – produced by Hear Me Roar Media – offers audiences live and recorded access to global built environment content. To have your industry podcast included in the iPropertyRadio line-up, or to contribute as a guest on any of the show on iPropertyRadio.com, email hello@ipropertyradio.com

This week on iPropertyRadio

 

 

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

 

• Digital Placemaking Tools for Public Consultation & Community Engagement | PLACEengage https://placeengage.com/digital-placemaking-tools-for-public-consultation-community-engagement/

 

• Proposed planning changes vulnerable to EU legal challenge, says civic group: Planning reforms could block residents’ groups from legal action against housing developments  https://www.irishtimes.com/ireland/housing-planning/2022/12/12/proposed-planning-changes-vulnerable-to-eu-legal-challenge-says-civic-group/

 

• Hundreds offer empty holiday homes to house Ukrainian refugees: Cabinet committee on country to meet as projections show up to 75,000 could have arrived by end of year https://www.irishtimes.com/politics/2022/12/12/ministers-to-hear-about-holiday-homes-pledged-to-house-ukrainian-refugees/

 

• Dún Laoghaire Baths finally reopen after €18m revamp  https://m.independent.ie/regionals/dublin/dublin-news/dun-laoghaire-baths-finally-reopen-after-18m-revamp-42216069.html

 

• Three West Cork towns set for big upgrades under ‘largest ever’ €27m renewal scheme: It’s great news for Bandon, Bantry and Skibbereen as they’re set to get state of the art infrastructure  https://www.corkbeo.ie/news/three-west-cork-towns-set-25749401

 

• Calls To Extend Dublin Commuter Zone To Midlands Town  https://www.midlands103.com/news/midlands-news/calls-to-extend-dublin-commuter-zone-to-midlands-town/

 

• €650,000 investment in six towns and villages across Galway https://galwaybayfm.ie/galway-bay-fm-news-desk/e650000-investment-in-six-towns-and-villages-across-galway/

 

• Milestone for Salmon Weir Bridge as main span installed  https://www.galwaydaily.com/news/transport/milestone-for-salmon-weir-bridge-as-main-span-installed/

 

• Major public consultation on Portumna Enhancement Plan  https://galwaybayfm.ie/galway-bay-fm-news-desk/major-public-consultation-on-portumna-enhancement-plan/

 

• ‘Like an oilwell in your back yard’: Irish people turn to cutting peat to save on energy bills https://www.theguardian.com/world/2022/dec/12/like-an-oilwell-in-your-back-yard-irish-turn-to-cutting-peat-to-save-on-energy-bills

 

• Limerick City and County Council want to hear from you…..Placemaking and Public Realm survey goes live https://www.limerick.ie/council/newsroom/news/limerick-city-and-county-council-want-hear-youplacemaking-and-public-realm

 

• Former Bank of Ireland building in Dunleer purchased to house new library: A further €36,731 was also announced to carry out alterations to the existing entrance to Stephenstown Pond in Knockbridge. https://www.dundalkdemocrat.ie/news/home/987794/former-bank-of-ireland-building-in-dunleer-purchased-to-house-new-library.html

 

• Donegal County Council will not have the capacity to build modular homes for private homeowners on the defective blocks redress scheme  https://www.donegaldaily.com/2022/12/16/council-not-in-position-to-build-modular-homes-for-private-mica-homeowners-meeting-hears/

 

• New cycle lane infrastructure welcomed for Cashel  https://www.tipperarylive.ie/news/home/982951/new-cycle-lane-infrastructure-welcomed-for-cashel.html

 

• Greenway in Kilkenny set for partial opening next year  https://www.kilkennypeople.ie/news/your-community/987410/greenway-in-kilkenny-set-for-partial-opening-next-year.html

 

• Fáilte Ireland launch tourism development plan for Inishowen Peninsula  https://www.donegaldaily.com/2022/12/10/failte-ireland-launch-tourism-development-plan-for-inishowen-peninsula/

 

• Work underway on Knock Airport upgrades https://www.galwaydaily.com/news/work-underway-on-knock-airport-upgrades/?amp

 

• Up to 2,000 trees to be planted at Tullamore’s newest amenity  https://www.offalyexpress.ie/news/tullamore-tribune/986969/up-to-2-000-trees-to-be-planted-at-tullamore-s-newest-amenity.html

 

• Clara is waiting ‘to be restored to rightful splendour’  https://www.offalyexpress.ie/news/midland-tribune/987295/opinion-an-colun-clara-is-waiting-to-be-restored-to-rightful-splendour.html

• Landowners lose appeal against CPO of land for Omeath Greenway: An Bord Pleanála confirms Compulsory Purchase Order  https://www.dundalkdemocrat.ie/news/home/989032/landowners-lose-appeal-against-cpo-of-land-for-omeath-gree

 

 

CONSTRUCTION & DEVELOPMENT NEWS

 

• Developer Michael O’Flynn  blames ‘prescriptive’ planning for impacting housing crisis: Collaboration and cooperation between public and private sector called for by Housing Commission member,  developer Michael O’Flynn https://www.irishexaminer.com/property/commercial/arid-41028848.html

 

• Construction activity slows for second month in a row  https://www.rte.ie/news/business/2022/1209/1341023-construction-activity-slows-for-second-month-in-a Also, Housebuilding slows again as inflation bites across construction sector: Concern at the potential impact of sharp slowdown in construction activity on the supply of new housing a couple of years down the line https://www.irishtimes.com/business/2022/12/12/housebuilding-slows-again-as-inflation-bites-across-construction-sector/

 

• Connect union – which represents thousands of outdoor staff working in construction, engineering and the electrical industry – calls for legislation on minimum and maximum temperatures at which work would halt  https://m.independent.ie/weather/call-to-introduce-temperature-limits-in-workplaces-as-country-hit-by-big-freeze-42220595.html

 

• The cautious planning and development Bill: The Housing and Development Bill sets out to fix some of the most dysfunctional parts of the planning system. It was an opportunity to do much more. https://thecurrency.news/articles/105187/the-cautious-planning-and-development-bill-rewinding-the-week-that-was/

 

• New planning bill won’t help solve housing crisis says academic https://m.independent.ie/irish-news/news/new-planning-bill-wont-help-solve-housing-crisis-say-experts-but-self-builds-just-might-42227581.html

 

• Local TD critical of lack of proper building control in construction sector  https://connachttribune.ie/local-td-critical-of-lack-of-proper-building-control-in-construction-sector/

 

• Coalition parties may clash over planning reforms as Green ministers flag concerns at Cabinet: Green Party members have raised concerns about restricting access to justice. https://www.irishexaminer.com/sport/gaa/arid-41027933.html

 

• Council approves contentious apartment development on former RTÉ campus https://www.breakingnews.ie/ireland/council-approves-contentious-apartment-development-on-former-rte-campus-1406404.html

 

• Planning permission has been granted to split one of the country’s most famous sites, paving the way for the relocation of the US Embassy in Dublin. https://extra.ie/2022/12/12/news/planning-permission-us-embassy-dublin

 

• German investor in €36m deal for new hotel in Dublin’s Liberties: 151-bedroom Premier Inn at Newmarket Yards is due for completion in 2023  https://www.irishtimes.com/property/commercial-property/2022/12/14/german-investor-in-36m-deal-for-new-hotel-in-dublins-liberties/

 

• Watch: 10-story student apartment development tops out in Cork City – Drone views show the big footprint of this new complex on the old Coca-Cola bottling plant site  https://www.corkbeo.ie/news/property/watch-10-story-student-apartment-25738894.amp

 

• Marina Market owner lodges detailed appeal against planning refusal: The market on Centre Park Rd and adjacent to Kennedy Quay has appealed Cork City Council’s decision to An Bord Pleanála  https://www.irishexaminer.com/news/munster/arid-41028041.html

 

• From Coca Cola to Bottleworks: Cork City’s largest student accommodation scheme on track for completion for next academic year: The 623-bed development on Carrigrohane Road will offer high spec apartments with ensuite bedrooms and shared living space https://www.irishexaminer.com/property/developmentconstruction/arid-41028959.html

 

• Galway City Council signs contract for new HQ building  https://www.galwaydaily.com/news/galway-city-council-signs-contract-for-new-hq-building/

 

• Kilkenny gets green light for new college for 5,000 students: FET college will bring together all of KCETB’s existing training services https://www.kilkennypeople.ie/news/home/987148/breaking-kilkenny-gets-green-light-for-new-college-for-5-000-students.html

 

• Westmeath County Council has granted planning permission for 213 new houses at Rathgowan, Mullingar.  https://www.westmeathexaminer.ie/2022/12/16/planning-granted-for-213-houses-at-rathgowan/

 

• Ennis Auctioneer Says Biggest Catch-22 To Solving Housing Crisis Is Lack Of Accommodation For Construction Workers  https://www.clare.fm/news/ennis-auctioneer-says-biggest-catch-22-solving-housing-crisis-lack-accommodation-construction-workers/

 

• Planning permission granted for apartment blocks in Letterkenny  https://donegalnews.com/2022/12/planning-permission-granted-for-apartment-blocks-in-letterkenny/

 

• Planning permission granted for new Inishowen care home and respite care facility  https://www.donegaldaily.com/2022/12/14/planning-permission-granted-for-new-inishowen-care-home-and-respite-care-facility/

 

• Sisk has signed an agreement to design and build seven Community Nursing Units (CNUs), at locations throughout Ireland, under the HIQA compliance programme through Public Private Partnership (CNU PPP Project). Sensori FM, part of the Sisk Group, are also part of the successful team to deliver and manage these vital units once they are operational. https://irishbuildingmagazine.ie/2022/12/13/sisk-to-deliver-major-investment-in-community-nursing-beds/

 

• BAM has confirmed its commitment to HVO (hydrotreated vegetable oil) as a carbon-saving fuel source following a thorough review of the supporting evidence. The review means BAM will continue to use HVO fuels as part of its strategy for decarbonising its operations, helping it to achieve its net zero carbon targets by 2026.  https://irishbuildingmagazine.ie/2022/12/13/bam-backs-hvo-fuels-as-a-key-part-of-its-decarbonising-strategy/

 

• Galway engineering student receives award and bursary for outstanding grades  https://connachttribune.ie/galway-engineering-student-receives-award-and-bursary-for-outstanding-grades/amp/

 

• Midlands property developer has almost €25 million in Celtic Tiger debt written off: Tony Diskin, the builder behind Athlone ghost estate where a two-year-old boy drowned in 2012, secures High Court approval for a personal insolvency arrangement https://www.irishtimes.com/business/economy/2022/12/12/midlands-property-developer-has-almost-25-million-in-celtic-tiger-debt-written-off/

 

• Ballymore’s British business takes €41m hit following safety spend – Irish builder has signed up to post-Grenfell fire pledge by UK developers to upgrade fire protection on buildings they constructed https://www.irishtimes.com/business/2022/12/16/ballymores-british-business-takes-41m-hit-following-safety-spend/

 

• Stunning exhibition celebrates artistry of model buildings: ‘Authentic and honest’: Supermodels, an extraordinary immersive show in London, uses animatronics and meticulous construction to create a hybrid digital-analogue beauty https://www.theguardian.com/artanddesign/2022/dec/09/ai-architecture-show-supermodels-london-exhibition-models

 

• How are architects planning for a recession: Designers are often among the first built environment sectors to feel the impact of a recession. With economic forecasts getting gloomier by the week, practice leaders are buckling up for a rough ride https://www.bdonline.co.uk/news/how-are-architects-planning-for-a-recession/5120847.article

 

• Former worker set off fire extinguishers and caused criminal damage at Cork building site: Accused damaged office, ripped a laptop in half, pulled a phone  off the wall, and broke monitors  https://www.irishexaminer.com/news/courtandcrime/arid-41029580.html

 

• Court appoints provisional liquidator to Dublin construction firm: Architectural Aluminium Ltd is insolvent with losses of some €988,000 recorded up to October  https://www.irishtimes.com/business/2022/12/16/court-appoints-provisional-liquidator-to-dublin-construction-firm/

 

 

 

PROPTECH, ESG, MMC & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2022 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech  or MMC business sit?  Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *https://prop-tech.ie/register/ * and email product or service details to hello@prop-tech.ie

 

• Proptech Ireland: Ireland’s CONSTRUCTION and REAL ESTATE ESG technologies resource hub. Confused about how and where to start on your ESG journey? Contact us 👉https://prop-tech.ie

 

• 400+ startup accelerators in Europe: listed: Opinions on accelerator programmes may be split, but one thing is true: there sure are a lot of them  https://sifted.eu/articles/400-startup-accelerators-in-europe-listed/

 

• New Tailte Éireann agency to provide streamlined access to land and geospatial services to public and Government https://www.gov.ie/en/press-release/5543d-new-tailte-eireann-agency-to-provide-streamlined-access-to-land-and-geospatial-services-to-public-and-government/

 

• CRH venture capital arm to sponsor low-carbon tech: Dublin-based building materials group CRH has launched its own venture capital unit, CRH Ventures. https://www.theconstructionindex.co.uk/news/view/crh-venture-capital-arm-to-sponsor-low-carbon-tech

 

• Unoccupied house and buyer ‘matchmaking’ service piloted in Mayo:  Council and local start-up Homebuyer’s Hero have won state funding for scheme to facilitate sale of vacant homes, which could be rolled out nationwide https://www.businesspost.ie/news/unoccupied-house-and-buyer-matchmaking-service-piloted-in-mayo/

 

• Worldwide PropTech Industry to 2027 – Increased Spending, Venture Capital Funding in the Technology and Growing Demand for Advanced Technology in the Real Estate Industry Drive Growth  https://www.globenewswire.com/news-release/2022/12/16/2575322/28124/en/Worldwide-PropTech-Industry-to-2027-Increased-Spending-Venture-Capital-Funding-in-the-Technology-and-Growing-Demand-for-Advanced-Technology-in-the-Real-Estate-Industry-Drive-Growth.html

 

• Fifth Wall has raised $866 million for its latest proptech fund, the largest-ever dedicated venture fund of its kind and a shot in the arm for a sector that’s been hit hard by rising interest rates.  https://therealdeal.com/2022/12/13/fifth-wall-raises-record-866m-for-proptech-fund/amp/

 

• Weekend Interview: MetaProp Co-Founder Aaron Block https://www.bisnow.com/national/news/proptech/weekend-interview-metaprop-co-founder-aaron-block-116890

 

• Becoming a chatbot: my life as a real estate AI’s human backup  https://www.theguardian.com/technology/2022/dec/13/becoming-a-chatbot-my-life-as-a-real-estate-ais-human-backup

 

• Work to be done on road to MMC – Despite the advantages the volumetric modular sector already brings to modern methods of construction, it needs to evolve further if its full potential is to be realised. In our experience, the next steps in its development should involve building confidence from an investor and developer perspective.  https://www.propertyweek.com/support-hub/work-to-be-done-on-road-to-mmc/5123196.article

 

• Five Ways to Improve Circularity in Construction: Buildings account for significant global emissions, but a more thoughtful approach to their construction can reduce their total footprint. https://www.bain.com/insights/five-ways-to-improve-circularity-in-construction/

 

• How real-time technology in the gaming industry is helping to transform 3D visualisation in architecture  https://www.architecture.com/knowledge-and-resources/knowledge-landing-page/real-time-technology-and-arch

 

• Are we on the cusp of a 3D-printed housing revolution?  https://www.aol.com/news/cusp-3d-printed-housing-revolution-100003247.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbQ&guce_referrer_sig=AQAAAHZzJUwb1pGeBcdN0D8bGZOMy0aeLQAgp6W7WG-mZW-MsPy_7K-P_as9myNj-i9xyLoAskIUcpS-qSowFp2IoJZplt-wU2a7ivNtFbCJGn7mnNYpK636kYcN1IfiqQyQWPrailyEHhvjBZf-t8JmV66hWq2SZC-VaByAwjx-Ub5I

 

• Disrupting Porta Potties—The New Must-Use Tourist Toilets  https://www.forbes.com/sites/alexledsom/2022/12/09/disrupting-porta-potties-the-new-must-use-tourist-toilets/?sh=5a657af14f56

 

• PropTech Today: 5 things you must do in 2023 to get the most from your tech https://www.estateagenttoday.co.uk/breaking-news/2022/12/proptech-today-5-things-you-must-do-in-2023-to-get-the-most-from-your-tech

 

• What Is the Future of Proptech and Real Estate? https://realtybiznews.com/what-is-the-future-of-proptech-and-real-estate/98775364/

 

• Top 4 trends in proptech | CRE industry disruption is expected to continue as the market, currently valued at $18.2 billion, could reach $86.5 billion by 2032. https://connectedremag.com/uncategorized/top-4-trends-in-proptech/

 

• VCs slashed proptech investments by nearly 40% this year after steep losses and job cuts showed them the sector wasn’t all it was cracked up to be  https://www.businessinsider.com/proptech-venture-investment-fell-nearly-40-this-year-2022-12

 

• Here’s why we need more female fund managers: Women taking control of venture capital enables us to create a more inclusive and prosperous society that benefits us all. https://www.fastcompany.com/90817120/heres-why-we-need-more-female-fund-managers

 

• Hull proptech firm whose software helps companies to meet new building safety rules has raised a further £575K from NPIF – Mercia Equity Finance https://bdaily.co.uk/articles/2022/12/16/hull-prop-tech-firm-raises-575k-for-golden-thread-building-intelligence

 

• Proptech company NodalView raises $4.2M – AIM Group https://aimgroup.com/2022/12/13/proptech-company-nodalview-raises-4-2m/

 

• Lagos-based real estate investment company Purple,  has announced that its Initial Public Offer (IPO) is now open (IPO).With the help of well-known investors, Purple has grown a lot, and its total assets will be worth more than 26.4 billion in FY2021  https://www.techinafrica.com/purple-a-nigerian-proptech-firm-has-announced-its-initial-public-offering-ipo/

 

 

ENERGY, CLIMATE & ENVIRONMENT

• Dublin ban sees 21 new data centres planned outside city: Energy and technology companies are now looking to build data centres beyond the greater Dublin area following the moratorium on new developments there due to constraints on the energy grid https://www.businesspost.ie/news/dublin-ban-sees-21-new-data-centres-planned-outside-city/

 

• Joint energy targets across the island would help lower costs, according to ESRI research: The Republic of Ireland and Northern Ireland have the same aim to reach 80pc renewable energy by 2030  https://m.independent.ie/business/irish/joint-energy-targets-across-the-island-would-help-lower-costs-according-to-esri-research-42212274.html

 

• Ireland’s climate policies will make us more car dependent than ever: High time for expansion of rail transport in greater Dublin area to shift travel from the private car https://www.irishtimes.com/opinion/2022/12/14/irelands-climate-policies-will-make-us-more-car-dependent-than-ever/

 

• Application in for new wind farm on Carlow Kilkenny border: It’s been lodged with An Bord Pleanála  https://kclr96fm.com/application-in-for-new-wind-farm-on-carlow-kilkenny-border/

 

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• As investors sour on Irish property, housing output faces fresh risks  https://m.independent.ie/business/irish/as-investors-sour-on-irish-property-housing-output-faces-fresh-risks-42226029.html

 

• Property prices up by 9.8% in 12-month period https://www.irishexaminer.com/news/arid-41028572.html

 

• Australian bank Macquarie sets aside €100m to buy Irish homes: Documents seen by the Business Post show that the fund has bought several homes in a housing estate in Carlow in March for €875,000 https://www.businesspost.ie/news/australian-bank-macquarie-sets-aside-e100m-to-buy-irish-homes/

 

• Why new short-term letting laws won’t increase long-term rental supply: Thousands of former short-term lettings may end up being left empty or used as corporate lets  https://www.irishtimes.com/opinion/2022/12/15/new-short-term-letting-regulations-unlikely-to-improve-long-term-rental-supply/

 

• “It’s more transparent, you don’t have to wonder what’s going on” – Offers by Daft makes buying or selling a property easier: Offers by Daft is designed to make life easier for buyers, sellers, and estate agents.  https://www.thejournal.ie/offers-by-daft-6-5944360-Dec2022/

 

• ‘I’m switching to a fixed-rate mortgage. How do I navigate all the options?’ https://m.independent.ie/business/personal-finance/im-switching-to-a-fixed-rate-mortgage-how-do-i-navigate-all-the-options-42225801.html

 

• ‘I’m a homeless homeowner’: The apartment owner who is now couch surfing: 33-year-old Jeanette Brown is unable to move back into her apartment due to the winter eviction ban https://www.irishtimes.com/ireland/housing-planning/2022/12/12/landlord-couch-surfing-and-sleeping-in-car-due-to-winter-eviction-ban/

• Council’s housing chief ‘loathe’ to axe need for homeless to have a local link to get emergency beds: Local authorities have previously been told by the housing minister to drop the policy for anyone seeking an emergency bed. https://www.thejournal.ie/housing-local-connections-5948530-Dec2022/

• Portree Guesthouse to house those seeking international protection  https://www.wlrfm.com/news/portree-guesthouse-to-house-those-seeking-international-protection-282231

• Famed Doonass House makes €1.65million at auction  https://www.limerickleader.ie/news/home/989931/limerick-property-watch-famed-doonass-house-makes-1-65million-at-auction.html

• 50 Westmeath households to remain in their homes through Mortgage to Rent Scheme  https://www.westmeathexaminer.ie/2022/12/08/50-westmeath-households-to-remain-in-their-homes-through-mortgage-to-rent-scheme/

• Mayo area is the cheapest in Ireland when it comes to purchasing a property. The Ballyhaunis Eircode is the least expensive in the nation, according to the latest Residential Property Price Index, published by the Central Statistics Office (CSO).  https://westernpeople.ie/2022/12/15/mayo-area-boasts-irelands-cheapest-house-prices/

• Dezeen’s top 10 home interiors of 2022  https://www.dezeen.com/2022/12/12/top-home-interiors-2022-review/

• How to create a cosy home this Christmas https://www.image.ie/living/how-to-create-a-cosy-home-this-christmas-624368

• Leather craftsman Garvan de Bruir built his own aeronautical-inspired modular home in Kildare  https://www.image.ie/living/leather-craftsman-garvan-de-bruir-built-his-own-aeronautical-inspired-modular-home-in-kildare-642729

• Design coach Karen Douglas shares her tips for working with an architect https://www.image.ie/living/architect-karen-douglas-shares-her-tips-for-navigating-the-design-process-whether-youre-tackling-a-small-project-or-a-new-build-652977

• The key to a successful property sale lies in effective communication:  For a smooth and speedy deal, it’s vital for both parties to keep in regular contact – and it’s also advisable to get all your paperwork in order beforehand https://www.businesspost.ie/property/the-key-to-a-successful-property-sale-lies-in-effective-communication/

• Dezeen’s top 10 staircases of 2022  https://www.dezeen.com/2022/12/17/staircases-interiors-architecture-2022-review/

 

 

COMMERCIAL PROPERTY NEWS

• 2022: one of the most active years on record for investment volumes: As H1 2023 approaches, however, subdued market sentiment looks likely to experience a six-month period of ‘wait and see’ until investor demand picks up in the second half of the year  https://www.businesspost.ie/property/2022-one-of-the-most-active-years-on-record-for-investment-volumes/

 

• Good year for industrial and logistics market to continue into 2023: One of the most prominent pre-lettings in 2022 was Maersk’s acquisition of over 250,000 square feet at Iput’s Quantum Distribution Park  https://www.businesspost.ie/property/good-year-for-industrial-and-logistics-market-to-continue-into-2023/

 

• Dalata Hotel Group said its annual revenue is expected to exceed €0.5 billion for the first time in the company’s history. https://www.rte.ie/news/business/2022/1214/1341735-dalata-hotel-group-trading-statement/

 

• Avant Money inks deal with Mapletree for offices in south Dublin: Consumer finance company takes penthouse space at Nova Atria in Sandyford Business District  https://www.irishtimes.com/property/commercial-property/2022/12/14/avant-money-inks-deal-with-mapletree-for-office

 

• Aviation leasing giant signs deal for new HQ at Fitzwilliam 28: SMBC Aviation Capital takes on newly developed Dublin city centre office space capable of accommodating over 1,300 workers  https://www.irishtimes.com/business/2022/12/16/aviation-leasing-giant-signs-deal-for-new-hq-at-fitzwilliam-28/

 

• Developer confirms plans to revive former Debenhams building in Limerick https://www.limerickleader.ie/news/home/986472/developer-confirms-plans-to-revive-former-debenhams-building-in-limerick.html

 

• Yoga, personal trainers and long walks in the country – the Californian duo redefining remote work as a luxury experience https://m.independent.ie/business/irish/yoga-personal-trainers-and-long-walks-in-the-country-the-californian-duo-redefining-remote-work-as-a-luxury-experience-42212277.html

 

• Prem Group chief sees ‘modest’ increase in hotel room rates next year: Revenues have been ‘ahead of expectations’ at Dublin-based hospitality group amid post-Covid rebound https://www.irishtimes.com/business/2022/12/14/prem-group-chief-sees-modest-increase-in-hotel-room-rates-next-year/ Also, Prem hotels group to operate 92-bedroom hotel in Brussels: Agreement comes one year after Fortress secured majority stake in Dublin-headquartered hospitality group  https://www.irishtimes.com/business/2022/12/13/prem-hotels-group-to-operate-92-bedroom-hotel-in-brussels/

 

 

INTERNATIONAL PROPERTY NEWS

• It’s a buyers’ market as demand drops by more than a third  https://propertyindustryeye.com/its-a-buyers-market-as-demand-drops-by-more-than-a-third/

 

• Property market malaise hits luxury homes in London  https://www.thetimes.co.uk/article/property-market-malaise-hits-luxury-homes-in-london-t7bhx2b0z

 

• UK Construction output grows for fourth month running  https://www.constructionenquirer.com/2022/12/12/construction-output-grows-for-fourth-month-running/

 

• World’s biggest crane lifts 304 tonne load at Hinkley  https://www.constructionenquirer.com/2022/12/12/worlds-biggest-crane-lifts-304-tonne-load-at-hinkley/

 

• Travelodge has opened its 79th hotel in the UK capital, located in the southwest London town of Wimbledon.  https://www.businesstraveller.com/business-travel/2022/12/12/travelodge-opens-wimbleon-property/

 

• Where to buy property in Nice, France: Take me to the Riviera . . . buyers love the Côte d’Azur city for its year-round climate and matchless location  https://www.thetimes.co.uk/article/where-to-buy-property-in-the-abruzzo-mfqs5x0nv

 

• Satellite images reveal Saudi Arabia’s The Line construction process  https://parametric-architecture.com/satellite-images-reveal-saudi-arabias-the-line-construction-process/

 

• NSW move to ban rental bidding needs to stop unsolicited offers, tenants groups say  https://www.theguardian.com/australia-news/2022/dec/12/nsw-move-to-ban-rental-bidding-needs-to-stop-unsolicited-offers-tenants-groups-say

 

FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS

Crowd-sourcing answers topical property questions:

As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) was rebranded in 2018 and now appears as part of The Property Insider series, published by Oak Tree Press, the first three titles are now published and available here: https://www.amazon.com/Carol-Tallon/

From 2020, the publishers and I wanted to ensure the content remains topical and we are now doing this by crowd-sourcing home buyer and investor queries, with crowd-sourced and editorial team answers.

Join the Facebook Group here to contribute: https://www.facebook.com/groups/IrishPropertyBuyers/