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:

 

• Budget 2024: ‘Squeezed-middle’ families set to be biggest winners next week – Range of measures will affect price of fuel and third-level education while there will be a 0.5 cut in the 4.5pc USC rate https://m.independent.ie/irish-news/budget-2024-squeezed-middle-families-set-to-be-biggest-winners-next-week/a648978584.html

 

• Ciarán Casey: History tells us Ireland’s multinational jobs boom won’t last forever https://m.independent.ie/opinion/ciaran-casey-history-tells-us-irelands-multinational-jobs-boom-wont-last-forever/a501318224.html

 

• What will happen to Irish property values in 2024? Real estate industry players give their view: Economic upheaval, geopolitical unrest and rising interest rates are having varying impacts on office, residential, retail and hospitality sectors, resulting in very different outlooks within each category https://www.irishtimes.com/property/commercial-property/2023/10/04/most-irish-real-estate-companies-expect-asset-values-to-fall-over-next-12-months/

 

• HSE’s empty buildings worth up to €400m as homeless crisis rages – The HSE has been labelled the country’s “biggest land hoarder” at a time when there is a crisis on housing https://www.dublinlive.ie/news/hses-empty-buildings-worth-up-27823540

 

• Conor Skehan: Ireland is excellent at many things. Taking pride in this will make the populists wilt (talking about Adare Manor in Limerick being named as the best resort in Europe in the Condé Nast Traveller 2023 ranking) https://m.independent.ie/opinion/comment/conor-skehan-ireland-is-excellent-at-many-things-taking-pride-in-this-will-make-the-populists-wilt/a204448627.html

 

• While the ‘cause and effect’ line drawn in this academic article doesn’t make sense at all (IMO), there are some interesting stats in here: ‘How the private rental sector created a homelessness crisis in Ireland’ https://www.rte.ie/brainstorm/2023/1004/1408737-ireland-private-rental-sector-homelessness-housing-crisis/

 

• Auctioneers have welcomed the progression through the Dáil of a Bill they say will cut property conveyancing times by at least half and help to avoid loan offers being withdrawn when deals are not completed on time. https://www.irishtimes.com/business/2023/10/06/bill-to-speed-up-property-sales-moves-to-next-legislative-phase/

 

• Just two properties acquired under Government scheme to keep renters in their homes: The cost rental tenant in situ scheme was introduced by the Government earlier this year. https://www.thejournal.ie/tenant-in-situ-houses-6186936-Oct2023/

 

• More than 200 complaints made about property agents last year: Figure represents a drop in number of issues raised with regulator in 2022 https://www.irishtimes.com/ireland/housing-planning/2023/10/05/more-than-200-complaints-made-about-property-agents-last-year/

 

• UK article but is this a question we need to be asking in Ireland? ‘Are you charging enough? UK estate agent fees amongst cheapest in the world’ https://propertyindustryeye.com/are-you-charging-enough-uk-estate-agent-fees-amongst-cheapest-in-the-world/

 

• Traveller housing plans should not require public consultation, rights body says – Irish Human Rights and Equality Commission urges process whereby accommodation proposals for Travellers go directly to An Bord Pleanála and bypass political arena https://www.irishtimes.com/ireland/2023/10/02/traveller-housing-plans-should-not-require-public-consultation-rights-body-says/

 

• Peter McVerry Trust problems ‘eminently salvageable’, says charity rescue expert – The go-to problem-solver for charities in trouble in Ireland, David Hall, praised the “exceptionally dedicated and qualified staff” at the housing charity https://www.irishexaminer.com/news/spotlight/arid-41238151.html Also: High-level group established to oversee Peter McVerry Trust’s financial problems: Finances of wider charity sector set to come under scrutiny by homeless executive https://www.businesspost.ie/news/high-level-group-established-to-oversee-peter-mcverry-trusts-financial-problems/

 

• Couple with infant devastated after losing more than €5,000 in home rental scam – Prospective tenants are advised to always meet the landlord or letting agent in the accommodation and ask them for identification https://www.irishtimes.com/your-money/2023/10/02/conor-popes-pricewatch-couple-with-infant-devastated-after-losing-more-than-5000-in-home-rental-scam/

 

• Revenue using ESB data as part of vacant homes tax crackdown: Data from electricity readings has identified 25,000 properties as vacant, with a further 65,000 due to be inspected for ‘low energy usage’ https://www.businesspost.ie/news/revenue-using-esb-data-as-part-of-vacant-homes-tax-crackdown/

 

• The Washington Post: Ireland’s Economy Is Like a Billionaire Tech Bro https://www.washingtonpost.com/business/energy/2023/10/05/ireland-s-economy-is-facing-a-turning-point-as-trade-and-tax-winds-change/3267f2e8-633c-11ee-b406-3ea724995806_story.html

 

• New plans for deep water port at Bremore, Co Dublin, to be unveiled: New facility will enhancing Ireland’s maritime capabilities https://m.independent.ie/business/irish/new-plans-for-deep-water-port-at-bremore-co-dublin-to-be-unveiled/a939649046.html

 

•  In the UK, further questions will be asked of the quality of Home Reit’s tenants after the self-styled “landlord for the homeless” collected only 3 per cent of rent due last month. https://www.thetimes.co.uk/article/fears-grow-as-home-reit-collects-only-3-of-rents-jw2c8r82l

 

• A comprehensive list of 2023 tech layoffs – From major layoffs at Google, Amazon and Microsoft to small fintech startups and apps https://techcrunch.com/2023/09/28/tech-layoffs-2023-list/?guccounter=1

 

• My construction company collapsed in the crash – so I reinvented myself as a chainsaw sculptor: What I Do: Will Fogarty, known as Fear na Coillte, makes sculptures from fallen or dead trees https://www.irishtimes.com/life-style/people/2023/10/06/my-construction-company-collapsed-in-the-crash-so-i-reinvented-myself-as-a-chainsaw-sculptor/

 

 

• Tales about a former piece of Ireland soon to be on the Washington property market: Government to sell the former Irish ambassador’s residence which has been visited by a number of presidents https://www.irishtimes.com/world/us/2023/10/07/tales-about-a-former-piece-of-ireland-soon-to-be-on-the-washington-property-market/

 

• Construction Monopoly: https://www.theconstructionindex.co.uk/news/view/introducing-the-new-construction-monopoly

 

 

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

This week on iPropertyRadio… 

 

#Property Roundup

*Making sense of Dublin’s property data*

 

On #PropertyRoundup, this week Donald MacDonald, Director at Hooke & MacDonald, joins us to discuss Ireland’s property market with a focus on development land, new homes, PRS and the wider investment market in advance of their forthcoming Residential Investment Bulletin. The discussion also covers ‘Housing For All’ identifying what appears to be working in the marketplace, and what is not…

Property Roundup is sponsored by Irish Property District, your industry communications partner: https://propertydistrict.ie 

 

*Watch/ listen back: https://ipropertyradio.com/property-matters/

 

#Proptech Hot Seat

In the Proptech Hot Seat is Shane Brady, Chief Operations Officer with SmartWorkPlus, an intelligence hub that transforms facilities management by optimising operations, cutting costs and improving sustainability. Listen back to the full interview to learn more!

 

https://www.smartworkplus.com/

 

Proptech Hot seat is sponsored by Proptech Ireland, the hub for innovators, investors and industry leaders https://prop-tech.ie/

 

Watch/ listen back: https://ipropertyradio.com/proptech-hot-seat/

 

 

#BreakingGround

 

“The barriers that are there, are barriers you are making yourself..”

This week on #BreakingGround host Carol Tallon is joined by Dr Aidan Kenny, Apprenticeship Manager at the School of Architecture, Building and Environment (SABE), TU Dublin.

 

Aidan tells his own apprenticeship journey, and how varied a career in construction can be. He points out that you really can shape your own career through apprenticeships by focusing on what you enjoy. For the next generation of construction professionals, make sure to check out Generation Apprenticeship- https://apprenticeship.ie/ 

Breaking Ground is sponsored by PLACEengage – Your Virtual Town Hall, a data-driven platform for more successful public consultation and community engagement for your next development project https://placeengage.com/

 

*Watch back and listen back: https://ipropertyradio.com/breaking-ground/

 

Watch back and listen back to all shows at: https://ipropertyradio.com/shows/

 

Produced by Katie Tallon, with Hear Me Roar Media on sound  https://hearmeroarmedia.com/

 

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Ag crúthú Luach Sóisialta  Trí Comhforbairt Áite (Creating Social Value Through Placemaking) 👉https://placeengage.com/ag-cruthu-luach-soisialta-tri-comhforbairt-aite/ 

 

• PLACEengage | Public Consultation & Community Engagement for Delivering Ireland’s Greenways https://placeengage.com/public-consultation-community-engagement-for-delivering-irelands-greenways/

 

• The Office of Public Works (OPW) is delighted to announce the launch of a new annual research journal, Irish Heritage Studies, and invites submissions for the first volume. https://www.gov.ie/en/press-release/0aa1b-office-of-public-works-launches-irish-heritage-studies-a-new-research-journal/

 

• Locals call on Cork City Council to avoid development on Murphy’s Rock: The green area has been used as an amenity by people from all across the northside, especially Blackpool, Ballyvolane and Dublin Hill residents for generations. https://www.echolive.ie/corknews/arid-41241112.html

 

• ‘It is a real team effort’: Cork town named among big winners at TidyTowns awards https://www.echolive.ie/corknews/arid-41242171.html

 

• Claims Portumna “held to ransom” over lack of action on former Shannon Oaks Hotel https://galwaybayfm.ie/galway-bay-fm-news-desk/claims-portumna-held-to-ransom-over-lack-of-action-on-former-shannon-oaks-hotel/

 

• Wicklow residents invited to have their say on Blessington masterplan https://m.independent.ie/regionals/wicklow/west-wicklow-news/wicklow-residents-invited-to-have-their-say-on-blessington-masterplan/a1177661608.html

 

• ‘Significant activity’ promised for derelict sites in this Tipperary town: Market Place sends out ‘the worst possible vibe’ for the town https://www.tipperarylive.ie/news/home/1308690/significant-activity-promised-for-derelict-sites-in-this-tipperary-town.html

 

• Tipperary County Council submit major plans to transform Clonmel at the River Suir https://m.independent.ie/regionals/tipperary/news/tipperary-county-council-submit-major-plans-to-transform-clonmel-at-the-river-suir/a1694545209.html

 

ISSUES IMPACTING RURAL IRELAND 

• RURAL IRELAND: There is a new group being set up for housing developers, property investors and estate agents trying or intending to deliver new homes, businesses or important infrastructure in rural Ireland – email in confidence to carol@propertydistrict.ie. 

 

• Banks to offer zero-interest loans to mica households: AIB, Bank of Ireland and Permanent TSB propose providing up to 15 per cent of a homeowner’s mica grant upfront https://www.businesspost.ie/news/banks-to-offer-zero-interest-loans-to-mica-households/

 

• Number of planning investigation cases in Kerry dismissed for being trivial or without foundation https://www.radiokerry.ie/news/number-of-planning-investigation-cases-in-kerry-dismissed-for-being-trivial-or-without-foundation-350544

 

• The rich environment, marine life and cultural heritage of the Connemara region will be to the fore when the 39th annual Connemara Sea Week Festival takes place in the village of Letterfrack from October 21 to 29. https://connachttribune.ie/marine-and-heritage-to-the-fore-as-connemara-sea-week-returns-this-month/

 

• How much is your land really worth? Expert’s 10 tips for valuing your farm https://m.independent.ie/farming/farm-property/how-much-is-your-land-really-worth-experts-10-tips-for-valuing-your-farm/a334542594.html

 

 

• ‘We’re unfairly demonised’ – Rural Airbnb hosts say they are ‘undervalued’ part of tourism sector: Airbnb prices have risen worldwide and it is widely criticised, but people renting out properties have hit out at the “constant bashing” of the platform https://m.independent.ie/irish-news/were-unfairly-demonised-rural-airbnb-hosts-say-they-are-undervalued-part-of-tourism-sector/a3983338.html

 

 

CONSTRUCTION, MMC & DEVELOPMENT NEWS

• ‘Darragh O’Brien’s bill does nothing’ – No one is happy with overhauled planning laws:  Industry frustrated that laws not radical enough, while campaigners warn change restricts access to justice for residents https://www.businesspost.ie/news-focus/darragh-obriens-bill-does-nothing-no-one-is-happy-with-overhauled-planning-laws/?cx_testId=1

 

• Could modular homes be an answer to the housing crisis? The State may be reluctant to embrace a new approach to housing, but these could deliver thousands of homes https://www.irishtimes.com/opinion/2023/10/02/could-modular-homes-be-an-answer-to-the-housing-crisis/

 

• Q3 development land sales up 30 per cent to just under €80 million: There are signs that developers and investors adjusting to new pricing levels as 18 transactions were made up to the end of September this year https://www.businesspost.ie/property/q3-development-land-sales-up-30-per-cent-to-just-under-e80-million/

 

• Flaws in the Irish system? New data reveals the role of planning and regulation in higher construction costs- The latest international survey of construction costs sheds some light on why, specifically, Irish housing is unaffordable. https://thecurrency.news/articles/128230/flaws-in-the-irish-system-new-data-reveals-the-role-of-planning-and-regulation-in-higher-construction-costs/

 

• An Bord Pleanála reports sharp rise in legal fees with €10m paid out during ‘particularly challenging’ year: Planning appeals board also paid out €1.34m in penalties to developers for failing to process ‘fast-track’ applications https://www.irishtimes.com/ireland/housing-planning/2023/10/05/an-bord-pleanala-reports-sharp-rise-in-legal-fees-with-10m-paid-out-during-particularly-challenging-year/

 

• From derelict pub to new apartments under plans to transform long-empty Cork city bar: The once-popular northside pub has been boarded up and derelict since it called last orders nearly a decade ago https://www.corkbeo.ie/news/local-news/derelict-pub-new-apartments-under-27849863

 

• Council changes put Comer Group Sentinel building plan ‘in jeopardy’: Dún Laoghaire-Rathdown local authority insists Comer brothers double the number of three-bed units in residential development https://www.businesspost.ie/news/council-changes-put-comer-group-sentinel-building-plan-in-jeopardy/ (separately: From plasterers to a €1 billion fortune – but has the Comer brothers’ winning streak ended? https://m.independent.ie/irish-news/from-plasterers-to-a-1-billion-fortune-but-has-the-comer-brothers-winning-streak-ended/a1112677436.html )

 

• Crean to be called as witness in €3.76 million DCU property case: The case involves a nine-acre site owned by DCU and a deposit which was ‘forfeited’ when a sale to a subsidiary of Crean’s Marlet Property Group did not go through: https://www.businesspost.ie/news/crean-to-be-called-as-witness-in-e3-76-million-dcu-property-case/

 

• BAM results show children’s hospital developer had profitable 2022: Court dispute in June heard contractor is in dispute over claims valued at hundreds of millions of euro https://www.irishtimes.com/ireland/2023/10/08/bam-results-show-childrens-hospital-developer-had-profitable-2022/ Also, BAM in boisterous financial health as it heads into mammoth legal battle with the National Children’s Hospital: BAM Ireland has long cemented its position as a construction giant. Its latest accounts, filed just weeks before it reignited its court case with the board of the National Children’s Hospital, show a company with cash in its coffers and a bulging order book. https://thecurrency.news/articles/129920/bam-in-boisterous-financial-health-as-it-heads-into-mammoth-legal-battle-with-the-national-childrens-hospital/

 

• Planning sought for massive Athenry medical devices factory https://www.galwaydaily.com/news/planning-sought-for-massive-athenry-medical-devices-factory/

 

• Watch: Exclusive preview of Limerick’s newest waterfront addition https://www.live95fm.ie/news/live95-news/watch-exclusive-preview-of-limericks-newest-waterfront-addition/

 

• Aparthotel gets approval for landmark city location https://www.live95fm.ie/news/live95-news/watch-aparthotel-gets-approval-for-landmark-city-location/

 

• Anti-social behaviour’ concerns among objections to delay 122 Limerick student bedspaces: The local residents also cited the likes of ‘rag weeks’ as having a detrimental effect on the area https://www.irishexaminer.com/news/munster/arid-41241145.html

 

• Land deal near Limerick village revealed https://www.limerickleader.ie/news/home/1315111/land-deal-near-limerick-village-revealed.html

 

• Investment of €7.5m to transform former Limerick convent https://www.ireland-live.ie/news/limerick-live/1317398/investment-of-7-5m-to-transform-former-limerick-convent.html

 

• Housing delivery to be expedited at prime site in Kilkenny City https://www.kilkennypeople.ie/news/kilkenny-city/1308151/housing-delivery-to-be-expedited-at-prime-site-in-kilkenny-city.html

 

• Contracts are in place for 14 different locations in Kilkenny to accommodate Ukrainian beneficiaries of Temporary Protection, according to the latest figures from the Minister for Children, Equality, Disability, Integration and Youth.  https://www.kilkennypeople.ie/news/home/1313261/contracts-in-place-for-14-locations-in-kilkenny-to-house-ukrainians-under-protection.html

 

• Work begins on 89-property affordable housing development in Co Wicklow https://www.breakingnews.ie/ireland/work-begins-on-89-property-affordable-housing-development-in-co-wicklow-1533935.html

 

• Multi-storey homes planned for Naas in €13m development https://www.kildarenow.com/news/home/1316253/kildare-multi-storey-homes-planned-for-naas-in-13m-development.html

 

• Large land bank in Dunboyne with residential potential for under €9m: Site of 72.87 acres in commuter belt is partially zoned for new home development, while the rest is likely to be rezoned due to proximity to town https://www.businesspost.ie/property/large-land-bank-in-dunboyne-with-residential-potential-for-under-e9m/
  
  
• Contractor gets to work on new Offaly school on site bought for just €1 https://www.offalyexpress.ie/news/edenderry/1313440/contractor-gets-to-work-on-new-offaly-school-on-site-bought-for-just-1.html

 

• Planning sought for new development at Kiltyclogher Church of Ireland https://www.shannonside.ie/news/planning-sought-for-new-development-at-kiltyclogher-church-of-ireland-230391

 

 

• Planning sought for 65 new homes in Roscommon town https://www.shannonside.ie/news/planning-sought-for-65-homes-in-roscommon-town-230429

 

• Kerry company announces plans to develop 235 new homes in Tralee https://www.radiokerry.ie/news/kerry-company-announces-plans-to-develop-235-new-homes-in-tralee-349887

 

• Planning sought to build 16 apartments and crèche in Killarney https://www.radiokerry.ie/news/planning-sought-for-construction-of-new-creche-and-16-apartments-in-killarney-350034

 

• NEW environmental, health, and safety company has officially launched in Cork with an investment of €5m. Led by EHS specialist Chris Mee, EHS International currently has a team of 20 and hopes to create at least 80 new jobs within the next 12 months. https://www.echolive.ie/corknews/arid-41240851.html

 

• High Court indicates it will not approve survival scheme for construction firm MAC Interiors: Revenue, which is owed €13m, opposed plan on legal grounds https://www.irishtimes.com/business/2023/10/05/high-court-indicates-it-will-not-approve-survival-scheme-for-construction-firm-mac-interiors/

 

• Receivers appointed to scheme where developer sought €60k from buyers to complete homes https://m.independent.ie/business/commercial-property/receivers-appointed-to-scheme-where-developer-sought-60k-from-buyers-to-complete-homes/a1685906438.html Also:‘We’ll invest more if a deal can be done’ Ringfort homebuyers invited to discuss receivers: Meath house purchasers, who were asked to pay an additional €60,000 for their homes, have been concerned about building company Meathamatic going into receivership https://www.businesspost.ie/news/well-invest-more-if-a-deal-can-be-done-ringfort-homebuyers-invited-to-discuss-receivers/

 

• Euro Auctions: Tyrone firm buys Canadian industrial equipment company https://www.bbc.com/news/uk-northern-ireland-67040633.amp

 

PROPTECH, ESG & CONSTRUCTION INNOVATION

 

• Proptech Ireland is updating the database of 2023 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

 

• Navigating the complexities of early stage funding: Start-up and early stage companies can go through funding rounds so complicated that the expert advice is to seek expert advice https://www.irishtimes.com/special-reports/2023/09/29/easy-as-abc-navigating-the-complexities-of-early-stage-funding/ Also: Budget 2024: tax breaks for angel investors to encourage funding for Irish start-ups: Michael McGrath has met with Scale Ireland and other representatives of the start-up sector in the lead up to Tuesday’s budget https://www.businesspost.ie/tech/budget-2024-tax-breaks-for-angel-investors-to-encourage-funding-for-irish-start-ups/ 

 

• Green money: How AI-driven PropTech can set companies on the road to zero carbon while helping slash energy costs https://www.businessleader.co.uk/ai-driven-proptech-zero-carbon/

 

• Enlighted unveils new AI capabilities for building IoT | Connected Real Estate Magazine http://connectedremag.com/uncategorized/enlighted-unveils-new-ai-capabilities-for-building-iot/

 

• How Artificial Intelligence is reshaping the UK property industry – PrimeResi https://primeresi.com/how-artificial-intelligence-is-reshaping-the-uk-property-industry/

 

• Connells-backed property sales management proptech shuts up shop: Movewise founder Tom Scarborough blames a basket of troubles experienced by the business including low margins and sales fall throughs, despite high growth https://thenegotiator.co.uk/tech-enabled-property-sales-management-firm-shuts-up-shop/

 

• Leveraging its digitised design tools, proptech company Neuron addresses critical issues such as housing affordability, climate change, design quality, and site de-risking https://www.theurbandeveloper.com/articles/top-engineers-developers-champion-neuron-proptech

 

 

 

ENERGY, CLIMATE & ENVIRONMENT  

 

• No Irish organisation rated ‘excellent’ for sustainability in survey https://m.independent.ie/business/no-irish-organisation-rated-excellent-for-sustainability-in-survey/a2018597691.html

 

• Subsidiary of company behind Shannon LNG seeks pre-planning meeting with An Bord Pleanála https://www.radiokerry.ie/news/subsidiary-of-company-behind-shannon-lng-seeks-pre-planning-meeting-with-an-bord-pleanala-350615

 

 

• Meta buys total output of two of lreland’s largest solar farms
  Social media giant agrees deal with Irish-owned Highfield Energy to power hyperscale data centres: https://www.businesspost.ie/news/meta-buys-total-output-of-two-of-lrelands-largest-solar-farms/?cx_testId=1

 

 

• VentureWave joins with Bank of America for €100m target fund: Initiative is part of private equity company’s strategy of investing in companies that focus on ESG https://www.businesspost.ie/news/venturewave-joins-with-bank-of-america-for-e100m-target-fund/
  
  

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Signs of property rebound with asking prices up 4% https://www.rte.ie/news/business/2023/1002/1408387-signs-of-property-rebound-with-asking-prices-up-3/

 

• Call for NCT-style system for rental homes as two-thirds fail to meet inspection standards https://m.independent.ie/irish-news/call-for-nct-style-system-for-rental-homes-as-two-thirds-fail-to-meet-inspection-standards/a508130399.html

 

• Should landlords get a budget tax cut? A property agent debates with an economist: Housing Minister has indicated he wants to do something in the budget for landlords and tenants. Reducing tax on rental income is one suggestion. What do the experts think? https://www.irishtimes.com/opinion/2023/10/03/the-debate-should-landlords-get-a-tax-cut-in-the-budget-a-property-agent-versus-an-economist/

 

• Property investment company Irish Residential Properties Reit has completed the sale of almost 200 residential units in west Dublin to Tuath Housing for more than €72 million. https://www.irishtimes.com/business/2023/10/03/ires-reit-completes-sale-of-194-houses-and-apartments-in-west-dublin/

 

• Property Tax: Certain sections expected to carry a greater burden https://www.irishexaminer.com/opinion/columnists/arid-41242063.html

 

• Woman ordered not to reduce inheritance below €45,000 until rent arrears paid – Carley Hamilton, who is in rent arrears over Ballsbridge flat, is to inherit a €68,136 share in her late mother’s home in Sandymount https://www.irishtimes.com/crime-law/courts/2023/10/03/woman-ordered-not-to-reduce-inheritance-below-45000-until-rent-arrears-paid/

 

• Former Bank of Scotland Ireland boss Mark Duffy plans new property venture: Dwellr is seeking to offer a lease-to-own product to help people secure homeownership https://www.irishtimes.com/business/2023/10/04/former-bank-of-scotland-ireland-boss-mark-duffy-plans-new-property-venture/

 

• The approved housing body in our building won’t pay for the damage done by their tenants. What can we do? Property Clinic: Higher percentage of our apartment block’s budget is used to repair AHB part of estate https://www.irishtimes.com/property/residential/2023/10/03/the-approved-housing-body-in-our-building-wont-pay-for-the-damage-done-by-their-tenants-what-can-we-do/

 

• Airbnb partners with Historic Houses of Ireland to support local heritage https://news.airbnb.com/en-uk/airbnb-partners-with-historic-houses-of-ireland-to-support-local-heritage/

 

• Luxurious living and a slice of the seashore on Coliemore Road in Dalkey for €8m: In this home with stunning views on a 0.6-acre site, the owner can go for a swim in their own rock pool at the end of the garden (pictured above) https://www.irishtimes.com/property/residential/2023/10/05/luxurious-living-and-your-very-own-slice-of-the-seashore-on-coliemore-road-in-dalkey-for-8m/

 

• Four under €300,000: homes in Kerry, Dublin, Galway and Waterford: Move-in-ready homes at keener prices around the country https://www.irishtimes.com/property/residential/2023/10/02/four-under-300000-homes-in-kerry-dublin-galway-and-waterford/

 

• Starter Homes: Four Cork properties on the market for €295,000 and under: First-time buyers can choose from homes across Douglas, Blackrock, Macroom and Mallow https://www.irishexaminer.com/property/residential/arid-41238691.html

 

• New high-tech, low-maintenance homes from €360,000 in Co Louth – The development, which will 23 new houses, is close to the M1 which allows easy access to Dublin city and airport https://www.irishtimes.com/property/residential/2023/10/01/new-high-tech-low-maintenance-homes-from-360000-in-co-louth/ 

 

• Laois property prices soar by €10,000 as demand continues https://www.ireland-live.ie/news/laois-live/1312478/laois-property-prices-soar-by-10-000-as-demand-continues.html

 

• Online property auction achieves sales of €4 million with properties in Galway, Donegal, Kerry and Dublin: O’Donnellan and Joyce listed properties throughout the country, including one on the island of Inisbofin and a former garda station https://www.businesspost.ie/property/online-property-auction-achieves-sales-of-e4-million-with-properties-in-galway-donegal-kerry-and-d/

 

 

 

COMMERCIAL PROPERTY NEWS

 

• Commercial real estate investment drops to less than half Irish average: A total of €444 million was invested into Irish commercial property in the third quarter, across 30 transactions https://www.irishtimes.com/business/2023/10/03/commercial-real-estate-investment-in-third-quarter-less-than-half-of-average/

 

• Is Ireland’s commercial property market on the cusp of monumental collapse? David McWilliams https://www.irishtimes.com/opinion/2023/10/07/irelands-commercial-property-market-is-on-the-cusp-of-monumental-collapse/?

 

• Working from home hits offices and city centre pubs https://m.independent.ie/business/working-from-home-hits-offices-and-city-centre-pubs/a630229717.html

 

• Dublin city councillors vote to leave rate of local property tax unchanged for 2024: Proposal to raise rate to fund street improvements did not gain enough support https://www.irishtimes.com/ireland/dublin/2023/10/02/dublin-city-councillors-vote-to-leave-rate-of-local-property-tax-unchanged-for-2024/

 

• Exclusive: Stripe may buy Dublin office to increase space as hiring plans heat up: The Collison brothers’ payments company is in talks with estate agents about a significant deal for more property in Dublin: https://www.businesspost.ie/tech/exclusive-stripe-may-buy-dublin-office-to-increase-space-as-hiring-plans-heat-up/

 

• Prominent Dublin 4 commercial building on market for €500,000: No 144 Upper Leeson Street is a four-storey property housing an established beauty and hair salon https://www.businesspost.ie/property/prominent-dublin-4-commercial-building-on-market-for-e500000/?cx_testId=1

 

• French investor in €18m deal for HSE offices at Dublin’s North Park: Investment is fully to health service on new 15-year lease from May 2023 with no break options https://www.irishtimes.com/property/commercial-property/2023/10/04/french-investor-in-18m-deal-for-hse-offices-at-dublins-north-park/

 

• The nightmare scramble for meeting rooms shows offices need a redesign: Hybrid working has exposed wasteful, outdated designs that one Silicon Valley boss wants to blow up https://www.irishtimes.com/business/work/2023/10/02/ghastly-modern-offices-need-a-reboot/

 

• Jewish community receives expressions of interest in south Dublin synagogue – Community opts for ‘wait and see’ approach on building put up for sale in March, says Hebrew Congregation representative https://www.irishtimes.com/ireland/social-affairs/2023/10/03/jewish-community-receives-expressions-of-interest-in-south-dublin-synagogue/

 

• How Pembr has built a major business from the heart of Dublin: Bob Manson and Thomas Lenehan launched their serviced office company at the height of the Celtic Tiger. They talk about surviving the crash, navigating Covid-19, and working with scaling firms https://thecurrency.news/articles/129249/the-art-of-being-flexible-how-pembr-has-built-a-major-business-from-the-heart-of-dublin-2/

 

• ‘Retail is decimated’: Cork city traders voice concern over impact of roadworks on business – Works have been taking place in the area as part of the MacCurtain St Public Transport Improvement Scheme. https://www.echolive.ie/corknews/arid-41240857.html

 

• Cork office let to professional services firm Marsh McLennan: The unit is located on the ground floor of Navigation Square 2 in the South Docklands overlooking the River Lee https://www.businesspost.ie/property/cork-office-let-to-professional-services-firm-marsh-mclennan/

 

 

• Former Permanent TSB premises in Curraheen, near Cork University Hospital, is on the market for €975,000: No 1 Curraheen Road is on a generous site with plenty of parking https://www.irishexaminer.com/property/commercial/arid-41241094.html

 

• Landmark former Limerick cafe goes on market for €350,000 https://www.limerickleader.ie/news/home/1312278/landmark-former-limerick-cafe-goes-on-market-for-350-000.html

 

INTERNATIONAL PROPERTY NEWS

• Comer Group pushes back at order to tear down London buildings, confirms appeal: Demolition demand ‘unprecedented, unreasonable, extreme, and wholly disproportionate’, developer says. https://m.independent.ie/business/comer-group-pushes-back-at-order-to-tear-down-london-buildings-confirms-appeal/a570031324.html

 

• Arrow points to Irish golf course to boost Algarve portfolio: The international real estate company believes tapping into the Irish market could help attract Americans to its businesses in Portugal https://www.businesspost.ie/property/arrow-points-to-irish-golf-course-to-boost-algarve-portfolio/

 

• England the worst place in the developed world to find housing, says report – Quarter of UK private renters spending over 40% of income on housing amid warning people are ‘trapped in poverty’ https://www.theguardian.com/society/2023/oct/05/england-worst-place-in-developed-world-to-find-housing-says-report

 

• Homes England ‘Rural Housing Statement’ https://www.gov.uk/government/publications/homes-england-rural-housing-statement/homes-england-rural-housing-statement

 

• Volumetric developer Tide has completed a landmark build to rent scheme in South London that now ranks as Europe’s tallest volumetric modular tower (pictured below) https://www.constructionenquirer.com/2023/10/05/tide-completes-europes-tallest-modular-building/ 

 

• Is Wood the Sustainable Solution for the Middle East? https://www.archdaily.com/1007645/is-wood-the-sustainable-solution-for-the-middle-east

 

• Global Perspective: World’s tallest wooden building to be built in Perth after developers win approval – Developers say South Perth’s C6 building will be made up of 42% timber and be carbon negative https://www.theguardian.com/australia-news/2023/oct/03/worlds-tallest-timber-building-c6-to-be-built-in-perth-after-developers-win-approval

 

• Evergrande, the ‘runaway’ developer that could become a wrecking ball for China’s economy https://www.theguardian.com/business/2023/oct/05/evergrande-the-runaway-developer-that-could-become-a-wrecking-ball-for-chinas-economy

 

 

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/

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. 

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