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: 

 

• Google office move is far from the end for tech FDI  https://m.independent.ie/business/google-office-move-is-far-from-the-end-for-tech-fdi-39516007.html

 

• 9,000 fewer new homes to be built this year, says Housing Minister https://www.irishexaminer.com/news/arid-40047674.html

 

• Ireland in recession as economy contracts by more than 6% https://www.irishtimes.com/business/economy/ireland-in-recession-as-economy-contracts-by-more-than-6-1.4348513?mode=amp

 

• Expert says State needs to build 1.4m extra homes by 2050 to meet demand https://www.irishtimes.com/business/economy/expert-says-state-needs-to-build-1-4m-extra-homes-by-2050-to-meet-demand-1.4348832?mode=amp

 

• Opinion: Dublin offices will become the new ghost estates but the capital has a chance to start again: It was so obvious to anyone living in or near the city centre that it was not going to end well https://www.irishtimes.com/opinion/una-mullally-dublin-offices-will-become-the-new-ghost-estates-but-the-capital-has-a-chance-to-start-again-1.4351472?mode=amp

 

• In Focus: Docklands’ defences raised against the flood of bad news
  Many in the property sector insist concerns over Google’s Dublin plans are an overreaction, but only time will tell. Fearghal O’Connor reports: https://www.independent.ie/business/irish/in-focus-docklands-defences-raised-against-the-flood-of-bad-news-39524060.html  

 

 

• Is student housing the next big property play or just another bubble? ”Higher education is about community and conversation as much as instruction. That’s why in-person higher education is here to stay. To match demand, Ireland needs to more than double its student accommodation in the next ten years.” https://www.thecurrency.news/articles/23340/is-student-housing-the-next-big-property-play-or-just-another-bubble

 

• Irish Data Centre Industry Adds 1,800 Jobs in Next 12 Months https://irishtechnews.ie/irish-data-centre-industry-1800-new-jobs/

 

• New rules to increase number of women on state boards https://www-rte-ie.cdn.ampproject.org/c/s/www.rte.ie/amp/1164450/

 

• Tesco and Manna to offer drone deliveries in Galway https://www.irishtimes.com/business/technology/tesco-and-manna-to-offer-drone-deliveries-in-galway-1.4350843?mode=amp

 

• I look forward to hosting Day 3 of the Pensions Awareness Week (#PAW20) series of masterclasses where there will be insights about the property and pension. Panellists include David O’Meara from Greenman, Suzie Nolan from Aviva, David Jelly from Property Bridges and Feargal McKenna from Beacon Capital Ltd. If you are invested or about to invest in property, this free masterclass could be of interest to you, link to register here: https://pensionsawarenessweek.ie/day-3-property-and-your-pension-paw20/?day=Day%203  Also, visit https://pensionsawarenessweek.ie to register and check out the other webinars held during Pensions Awareness Week 2020.

 

 

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

 

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

 

 

Property Matters: Ireland’s First Weekly Property Radio Show (& Podcast!):

 

Ireland’s first weekly property radio show, Property Matters, launched In January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com). The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech. 

Produced by Katie Tallon of Hear Me Roar Media. 

 

Series 3, Episode 2

 

 

Joining us on Property Matters this week are James Benson, Director of the Irish Home Builders Association, and Mark Cronin, Associate Director of Townmore, one of Ireland’s Top 20 contractors. 

 

Listen back here: https://ipropertyradio.com 

 

 

Email the Property Matters team at hello@iPropertyRadio.com

 

 

Also: Dublin back in 2000 | Newstalk 

 

‘Embedded: Tech in Town’ is a six-part series, presented by Jess Kelly, exploring twenty years of tech companies in Dublin and their imprint on community and culture. Brought to you with thanks to Salesforce. 

 

Episode 1 looks back at Dublin in the year 2000.

 

https://www.newstalk.com/podcasts/embedded-tech-in-town/dublin-back-2000

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

• OPR Launches New Interactive Map Displaying Information on Statutory Plans: All details of live public consultations relating to statutory plans, as well as any submissions or recommendations made by the Office of the Planning Regulator (OPR) relating to these plans are now accessible on a new intuitive, interactive map format. https://bit.ly/2RNrElz Users can now easily navigate and access information relating to development plans in each local authority by simply clicking on the relevant geographical location on the map.

 

• Have your say on the new Waterford City & County Development Plan 2022-2028: Public Consultation now open https://consult.waterfordcouncil.ie/en/node/6/dashboard

 

• Co Kildare population may be growing faster than Dublin   https://www.kildarenow.com/news/home/572562/co-kildare-population-may-be-growing-faster-than-dublin.html

 

• Michael Moynihan: Wanted, someone to regenerate Cork city – “Cork’s got the beauty of the Dutch style, the Mediterranean feel, the hills, and it’s all walkable”, writes Michael Moynihan https://www.irishexaminer.com/opinion/columnists/arid-40045205.html?type=amp (if that link doesn’t work, try this one: https://www.irishexaminer.com/opinion/columnists/arid-40045205.html)

 

• The Cork corner that became a creative powerhouse: How people in west Cork pioneered a creative hotspot teeming with innovators https://www.irishtimes.com/life-and-style/homes-and-property/interiors/the-cork-corner-that-became-a-creative-powerhouse-1.4351497?mode=amp

 

• Ghost town?: What does Google’s decision to pull out of an office deal mean for the landscape of Dublin city centre? https://www.thejournal.ie/google-dublin-property-market-5202251-Sep2020/

 

• Proposed bridge from Islandbridge to Phoenix Park https://www.rte.ie/amp/1163966/

 

• Concern over future Cork LUAS bridge plan: Fears that a fixed bridge might prevent larger vessels from accessing Cork’s city quays https://www.irishexaminer.com/business/economy/arid-40045574.html?type=amp

 

• Burren farmer, Patrick McCormack was the focus of an RTÉ One documentary this week. The Silver Branch directed by Katrina Costello, tells the story of Patrick McCormack who farms in the Burren County Clare… https://www.clareecho.ie/burren-farmer-the-focus-of-rte-documentary/

 

• Covid-19 brings with it some good for certain European cities – but not Dublin https://www.irishtimes.com/opinion/covid-19-brings-with-it-some-good-for-certain-european-cities-but-not-dublin-1.4347976?mode=amp

 

• Islands of Ireland: The Quay to Limerick City https://www.irishexaminer.com/property/homeandoutdoors/arid-40043591.html?type=amp

 

• Ten new ‘parklets’ to be installed in Cork City parking spaces https://www.irishexaminer.com/news/munster/arid-40045655.html

 

• Home of 1916 hero to make way for €66m apartment plan  https://m.independent.ie/business/commercial-property/home-of-1916-hero-to-make-way-for-66m-apartment-plan-39521824.html

 

• Cork Rooftop Farm: urban agriculture taking root on Coal Quay – In metropolitan areas around the world, waste lots, abandoned spaces, empty buildings, and rooftops are being repurposed to grow fruit and vegetables. Joe McNamee visits one in Cork. https://www.irishexaminer.com/lifestyle/food/arid-40046399.html?type=amp

 

 

 

*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details*

 

 

 

 

 

CONSTRUCTION & DEVELOPMENT NEWS

 

• Varadkar snubs bid by construction sector to defer 2.7% pay rise for workers: Construction Industry Federation urged Minister to block pay increases due from October https://www.irishtimes.com/news/ireland/irish-news/varadkar-snubs-bid-by-construction-sector-to-defer-2-7-pay-rise-for-workers-1.4350925?mode=amp

 

• Cost of building homes ‘much cheaper’ than industry claims https://www.irishtimes.com/business/construction/cost-of-building-homes-much-cheaper-than-industry-claims-1.4351897?mode=amp

 

• Number of new houses to get planning permission falls https://www.irishexaminer.com/business/economy/arid-40047308.html

 

• Office construction boom slows but crash in rents unlikely: https://www.irishbuildingmagazine.ie/2020/09/11/office-construction-boom-slows-but-crash-in-rents-unlikely-hwbc/

 

• Developer alleges ‘astounding’ conflict of interest from consultants: Shorevale claims consultants provided report to company appealing its permission https://www.irishtimes.com/business/commercial-property/developer-alleges-astounding-conflict-of-interest-from-consultants-1.4352656?mode=amp

 

• Development opportunities to be found among the rooftops: Living over the shop is taking on a new meaning as developers start to add new storeys over shopping centres that can accommodate large numbers of apartments and offices https://www.businesspost.ie/commercial/development-opportunities-to-be-found-among-the-rooftops-3d2dabbe

 

• Warning over lack of timber supplies for construction https://www.rte.ie/amp/1163431/

 

• Cairn to pay founding director €14m for Dublin site as full-year operating profit at homebuilder slides to €20m https://www.irishtimes.com/business/construction/cairn-to-pay-founding-director-14m-for-dublin-site-1.4351421?mode=amp

 

• Co-living development under proposal for Dublin criticised https://www.irishexaminer.com/news/arid-40044083.html?type=amp

 

• Roost homes in on shared living complex for Dublin 7 https://www.thetimes.co.uk/article/roost-homes-in-on-shared-living-complex-for-dublin-7-pkg7frlrp

 

• Dermot Desmond’s ‘Ballymun Towers South Dublin’ tag for plan on ex-RTÉ land branded ‘incredible’   https://m.independent.ie/irish-news/dermot-desmonds-ballymun-towers-south-dublin-tag-for-plan-on-ex-rte-land-branded-incredible-39510797.html

 

• Dublin residential rental portfolio of up to 475 apartments guiding at €210m https://www.irishtimes.com/business/commercial-property/dublin-residential-rental-portfolio-of-up-to-475-apartments-guiding-at-210m-1.4349748?mode=amp&__twitter_impression=true

 

• Go-ahead for 324 apartments despite ‘ghost tower’ fears – Herald.ie https://m.herald.ie/news/go-ahead-for-324-apartments-despite-ghost-tower-fears-39515877.html

 

• Santry Omni 12-storey housing approved through fast track planning – Dublin Live https://www.dublinlive.ie/news/property/santry-omni-12-storey-housing-18898759

 

• Towering 28 storey hotel proposed for busy M50 junction site https://www.dublinlive.ie/news/property/28storey-hotel-dublin15-m50-junction-18907012

 

• Bain-backed vehicle secures planning for 413 apartments https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/irish/bain-backed-vehicle-secures-planning-for-413-apartments-39521413.html

 

• Former Smurfit Paper Mills presents prime residential opportunity in Clonskeagh https://www.irishtimes.com/business/commercial-property/former-smurfit-paper-mills-presents-prime-residential-opportunity-in-clonskeagh-1.4349563?mode=amp

 

• South Dublin investment with residential potential seeks €1.5m https://www.irishtimes.com/business/commercial-property/south-dublin-investment-with-residential-potential-seeks-1-5m-1.4346679?mode=amp

 

• Planning permission granted for a new Lidl store in Lusk is set to see an €11 million investment in the local area: https://amp.independent.ie/regionals/fingalindependent/news/new-11m-lidl-in-lusk-set-to-create-35-new-jobs-39509757.html

 

• Construction underway on largest operating batteries on the island of Ireland https://www.irishbuildingmagazine.ie/2020/09/08/construction-underway-on-largest-operating-batteries-on-the-island-of-ireland/

 

• Cork developer Michael O’Flynn lodges plans for 1,137 homes and 15-storey hotel in Dublin: The South West Gate development includes 299 build-to-rent units; 724 build-to-sell units and 114 social and affordable units https://www.irishexaminer.com/property/developmentconstruction/arid-40046654.html

 

• Proposals for large residential development on Cork’s northside https://www.echolive.ie/corknews/Proposals-for-large-residential-development-on-Corks-northside-0b06b5eb-5371-4078-a4d7-282c1a6b2a9b-ds

 

• Irish Water announces major pipe upgrades for two Cork localities https://www.irishexaminer.com/news/munster/arid-40046804.html

 

• 30m-high student accommodation building in Galway is ‘too tall’ https://connachttribune.ie/30m-high-student-accommodation-building-in-galway-is-too-tall/

 

• Planning for 133 homes in Ashford – Independent.ie https://m.independent.ie/regionals/wicklowpeople/news/planning-for-133-homes-in-ashford-39514514.html

 

• Historic former Naas shop to be converted into apartments  https://www.kildarenow.com/news/home/572279/historic-former-naas-shop-to-be-converted-into-apartments.html

 

• Kildare County Council gets planning application for construction of new school building – Planning Received for demolition of national school https://www.kildarenow.com/news/home/572926/kildare-cpunty-council-gets-planning-application-for-construction-of-new-school-building.html

 

• Plans lodged for 257 new homes on the Dublin Road – Talk of the Town https://www.talkofthetown.ie/plans-lodged-for-257-new-homes-on-the-dublin-road/amp/

 

• Plug pulled on major ‘strategic’ Laois housing development in Portlaoise: Irish Water describes the development as premature https://www.leinsterexpress.ie/news/property/572589/plug-pulled-on-major-strategic-laois-housing-development-in-portlaoise.html

 

• Housing development planned for Kilkenny’s Sion Road turned down by An Bord Pleanála https://kclr96fm.com/housing-development-planned-for-kilkennys-sion-road-turned-down-by-an-bord-pleanala/

 

• Decision this month on 212-home application in Dunshaughlin | Meath Chronicle https://www.meathchronicle.ie/2020/09/11/decision-this-month-on-212-home-application-in-dunshaughlin/

 

• Brian Hogan obituary: One of Dublin’s leading architects https://www.irishtimes.com/life-and-style/people/brian-hogan-obituary-one-of-dublin-s-leading-architects-1.4351580?mode=amp

 

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

• Proptech Ireland is updating the database of 2020 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: *PROPTECH INNOVATORS and STARTUPS * 

 

• Show houses can be madhouses, especially for anybody worried about social distancing. Yet one by-product of the pandemic is the newfound ability to buy a home without having to rub shoulders with another human being. https://www.thetimes.co.uk/article/cairn-and-glenveagh-show-state-leg-up-helps-housing-trade-beat-the-virus-zdcs603lq

 

• Karl Deeter’s mortgage application company raises €1m https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/financial-services/karl-deeter-s-mortgage-application-company-raises-1m-1.4348011?mode=amp

 

• The sensory appeal of touch-free technology around the home https://www.thetimes.co.uk/article/the-sensory-appeal-of-touch-free-technology-around-the-home-zsft5txhz

 

• The sale increases SpareRoom’s existing share in the UK and US markets and adds 18 new territories, creating what it describes as “the world’s largest roommate finding service.” https://www.lettingagenttoday.co.uk/breaking-news/2020/9/proptech-consolidation-as-flat-sharing-platform-snaps-up-rival?source=othernews

 

• The future of retail and office space is up in the air, and proptech investors are optimistic – TechCrunch https://bestgamingpro.com/the-future-of-retail-and-office-space-is-up-in-the-air-and-proptech-investors-are-optimistic-techcrunch/

 

• Startup Life Stories: A PropTech Founder’s Worst Day Ever https://www.forbes.com/sites/angelicakrystledonati/2019/12/08/startup-life-stories-a-proptech-founders-worst-day-ever/

 

• Future Of Work: How Technology Can Increase The Value Of CRE | AllWork.Space https://allwork.space/2020/09/future-of-work-how-technology-can-increase-the-value-of-cre/

 

• PropTech Today: Is there any such thing as a UK portal war? https://www.estateagenttoday.co.uk/breaking-news/2020/9/proptech-today-is-there-any-such-thing-as-a-portal-war?source=newsticker 

 

• 9 proptech investors talk co-living, home offices and other pandemic trends https://techcrunch.com/2020/09/08/9-proptech-investors-talk-co-living-home-offices-and-other-pandemic-trends/amp/

 

 

RESIDENTIAL PROPERTY NEWS

 

• New homes: this weekend’s launches https://www.thetimes.co.uk/article/new-homes-this-weekends-launches-8vhnm5txg

 

• We’re paying €80,000 more than the average mortgage in eurozone https://amp.independent.ie/business/personal-finance/property-mortgages/were-paying-80000-more-than-the-average-mortgage-in-eurozone-39524676.html

 

• All change for landlords and tenants: Covid-era emergency laws have been replaced amid big market upheavals https://m.independent.ie/business/personal-finance/your-money-all-change-for-landlords-and-tenants-39524563.html

 

• Developer slashes price of €1m four-bed detached homes and penthouses https://amp.independent.ie/irish-news/developer-slashes-price-of-1m-four-bed-detached-homes-and-penthouses-39516239.html

 

• Summer sales momentum carried into autumn – Cairn Homes https://www.rte.ie/amp/1164304/

 

• Irish homebuyers told: Don’t get caught out by house purchase ‘extras’: The cost of buying a home has to factor in stamp duty, fees for solicitors and surveyors, and other additional expenses https://www.thetimes.co.uk/article/irish-homebuyers-told-dont-get-caught-out-by-house-purchase-extras-pwdnq7tgh

 

• Former home of legendary broadcaster Gerry Ryan placed on the market with €2m asking price https://m.independent.ie/life/home-garden/homes/former-home-of-legendary-broadcaster-gerry-ryan-placed-on-the-market-with-2m-asking-price-39518363.html

 

• Cork planners refuse application to turn home into short-term rental property https://www.irishexaminer.com/property/commercial/arid-40045973.html

 

• Cosy cottage with contemporary twist in Malahide for €520k https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/cosy-cottage-with-contemporary-twist-in-malahide-for-520k-1.4349676?mode=amp

 

• Bungalow beauty in Kildare with €100k guide price going under hammer  https://www.kildarenow.com/news/home/571941/trade-up-bargain-look-at-this-beauty-in-kildare-for-only-100k-guide-price.html

 

• 3 budget-savvy Cork starter homes you can buy for less than €85k https://www.yaycork.ie/3-budget-savvy-cork-starter-homes-you-can-buy-for-less-than-e85k/

 

• From Sherkin to Cork city: Four starter homes for less than €300,000: Homes in West Cork, Midleton, Cobh and Grange https://www.irishexaminer.com/property/residential/arid-40045685.html

 

• What will €300,000 buy in Germany, Spain, France, the UK and Dublin 12 https://www.irishtimes.com/life-and-style/homes-and-property/take-5/what-will-300-000-buy-in-germany-spain-france-the-uk-and-dublin-12-1.4345775?mode=amp

 

• PROPERTY WATCH: This is the cheapest three-bedroom house on the market in Ireland https://www.leitrimobserver.ie/news/home/573023/property-watch-this-is-the-cheapest-three-bedroom-house-on-the-market-in-ireland.html

 

• How good acoustic design can save your sanity: Simple changes can build a noise barrier between you and next-door neighbours https://www.thetimes.co.uk/article/how-good-acoustic-design-can-save-your-sanity-7pp9x0k0p

 

 

 

COMMERCIAL PROPERTY NEWS

 

• Covid-19 may slow Dublin office letting to lowest level since 2012: Commercial property crash ‘unlikely’ as oversupply and debt not issues, HWBC says https://www.irishtimes.com/business/commercial-property/covid-19-may-slow-dublin-office-letting-to-lowest-level-since-2012-1.4351878

 

• Tech giant Google pulls out of office deal in Dublin docklands:  Google has walked away from a plan to rent space in Dublin’s docklands for as many 2,000 workers, shelving one of the city’s biggest property deals in recent years https://www.irishtimes.com/business/commercial-property/tech-giant-google-pulls-out-of-office-deal-in-dublin-docklands-1.4348998?mode=amp

 

• Long before Google’s decision, the tide was turning for the commercial property market. Here is why… Covid-19 has revealed – rather than caused – trends in our society. It has highlighted and accelerated changes that were already happening. Chief among them is the slide away from central locations. And this has big implications for the property market: https://www.thecurrency.news/articles/23564/long-before-googles-decision-the-tide-was-turning-for-dublin-commercial-property

 

• Not so gloomy over Google, although the tech giant’s decision to back out of a landmark office deal in Dublin’s docklands was classed as “disappointing” by industry sources. They insist nevertheless that it does not mark a tipping point for the commercial property sector as it continues to battle Covid work practices: Google setback not seen as tipping point for Ireland https://www.irishtimes.com/business/technology/google-setback-not-seen-as-tipping-point-for-ireland-1.4350088?mode=amp

 

• Microsoft office deal reboots Silicon Docks https://www.thetimes.co.uk/article/microsoft-office-deal-reboots-silicon-docks-wlhp579cf

 

• Work is changing, but don’t write the office off yet https://www.rte.ie/amp/1164713/

 

• Westland Row office building sold to private investor for over €4m https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/westland-row-office-building-sold-to-private-investor-for-over-4m-1.4348613?mode=amp

 

• Cork retail units offer prime locations right at the heart of city’s main shopping thoroughfare https://www.irishexaminer.com/property/commercial/arid-40046387.html

 

 

INTERNATIONAL PROPERTY NEWS

 

• Google proposes 40-acre redevelopment that includes nearly 2,000 housing units: Lendlease will manage the design and construction, as a partner in a multi-development deal struck last year between the two companies. https://www.bdcnetwork.com/google-proposes-40-acre-redevelopment-includes-nearly-2000-housing-units

 

• Christmas ‘truce’ for UK renters facing eviction https://www.bbc.com/news/business-54108829

 

• CN100 2020: the top 100 UK contractors https://www.constructionnews.co.uk/financial/cn100-2020-the-top-100-uk-contractors-10-09-2020/

 

• Are offices dead? Not yet, but real estate power brokers are betting on a new strategy – Alums of real estate juggernauts Cushman & Wakefield and JLL are betting that the future of commercial real estate lies in not just selling office space, but designing and building it, too https://www.fastcompany.com/90548489/are-offices-dead-not-yet-but-real-estate-power-brokers-are-betting-on-a-new-strategy

 

 

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 want to ensure the content remains topical and we are 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/