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:
- Property prices rebound in May in biggest monthly rise since 2015 – Sales prices lower than May 2019 but rental increased in the year, Daft.ie reports https://www.irishtimes.com/business/construction/property-prices-rebound-in-may-in-biggest-monthly-rise-since-2015-1.4273742?mode=amp
- Who benefits from the new anti-eviction legislation? – The laws were introduced in haste on March 27 due to the pandemic, but their scope and effect are very much open to interpretation https://www.businesspost.ie/property-insight/who-benefits-from-the-new-anti-eviction-legislation-b357cf79
- Housing policies ‘allow foreign investors to inflate market’ https://www.thetimes.co.uk/article/housing-policies-allow-foreign-investors-to-inflate-market-h8d6cmv5q
- Developers of a planned luxury apartment scheme for Herbert Park in Dublin 4 are proposing to sell 10 apartments for €5.88 million to Dublin City Council for social housing. https://www.irishexaminer.com/breakingnews/ireland/developers-plan-to-sell-10-luxury-dublin-4-apartments-to-council-in-58m-social-housing-deal-1004306.html
- Institutional investors will play key role in kickstarting economy https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/institutional-investors-will-play-key-role-in-kickstarting-economy-1.4270897?mode=amp
- Davy tips Ires Reit as ready for renewed outperformance https://m.independent.ie/business/commercial-property/davy-tips-ires-reit-as-ready-for-renewed-outperformance-39270747.html
- As Henderson Park navigates tax and a pandemic, Green Reit founders begin corporate move to access spoils of €1.34bn sale
Its acquisition of Green Reit left UK fund with a tax bill, while the pandemic has hit plans to sell assets. Green’s founders, meanwhile, are preparing structures to access their cash. https://www.thecurrency.news/articles/18534
- Appointments as Ordinary Members to the Valuation Tribunal – The Minister for Housing, Planning and Local Government is seeking expressions of interest from suitably qualified candidates who are willing to engage fully with the work of the Tribunal.
http://www.stateboards.ie/stateboards/campaignAdvert/118578.htm
- Bar Council ‘should be slapped with €2m bill for Law Library premises or evicted’ https://www.irishlegal.com/article/bar-council-should-be-slapped-with-2m-bill-for-law-library-premises-or-evicted
- Fourteen flats in luxury D4 block for social housing – Independent.ie https://m.independent.ie/irish-news/fourteen-flats-in-luxury-d4-blockfor-social-housing-39282577.html
- Raiding pension pots the latest harebrained solution to property crisis
Parties consider plan to allow buyers pull lump sum from pension funds to buy homes https://www.irishtimes.com/business/economy/raiding-pension-pots-the-latest-harebrained-solution-to-property-crisis-1.4274954?mode=amp
- With hard lessons learned from his past, Simon Kelly now looks to the future – and that future is technology
A decade ago, Simon Kelly was in Nama and facing bankruptcy. He has toiled his way back with Emex, a regtech business he founded with Richard Wall. With a string of major clients dotted around the world, Emex has now appointed advisers to raise €4m. https://www.thecurrency.news/articles/18742/with-hard-lessons-learned-from-his-past-simon-kelly-now-looks-to-the-future-and-that-future-is-technology
- Mercury seeks talks on €100m power scheme – https://m.independent.ie/business/irish/mercury-seeks-talks-on-100m-power-scheme-39282360.html
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.
On PROPERTY MATTERS this week:
Estate agencies around the country return to in-person property viewings | Tech solutions for retail | Might the showhouse become a thing of the past?
With John Fogarty, Regional Owner of RE/MAX Ireland; Gary Mc Donald, Founder of Limitless Insight; and Conor Brady
Co-founder & CEO of Captate
*Listen back: https://ipropertyradio.com/454-2/
Email the Property Matters team at hello@iPropertyRadio.com
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Planning for 1,800 homes could face legal challenge – Barrister warns that councillors’ working remotely due to Covid-19 restrictions invites legal challenge due to rules requiring presence in person
https://www.businesspost.ie/politics/planning-for-1800-homes-could-face-legal-challenge-c07dafb3
- The cost of ignoring community engagement? An Bord Pleanála has consented to a High Court order quashing its permission for a controversial development of 657 apartments near St Anne’s park in north Dublin. https://www.irishexaminer.com/breakingnews/ireland/impact-on-bird-feeding-grounds-cited-as-permission-for-657-apartments-in-dublin-overturned-1004718.html
- Local unease as Cairn Homes looks to build apartments on creche space – Housebuilding giant is building Marianella scheme on the site of a former monastery in Rathgar in Dublin 6 https://www.businesspost.ie/ireland/local-unease-as-cairn-homes-looks-to-build-apartments-on-creche-space-e96d5761
- Planning and public health in an age of pandemic – With the lines between home and work blurring, urban planning must rise to the challenge of fulfilling multiple purposes and imperatives https://www.businesspost.ie/property-insight/planning-and-public-health-in-an-age-of-pandemic-da5f3369
- Tired of the rat race? Here’s why it could be time to move to the country – Remote working, cheaper housing, cleaner air: there’s a lot to be said for quitting the city
https://www.irishtimes.com/life-and-style/homes-and-property/tired-of-the-rat-race-here-s-why-it-could-be-time-to-move-to-the-country-1.4274433?mode=amp
- Howth resident can challenge housing development permission, High Court says
Development classified as strategic housing meaning developer can bypass local housing authority
https://www.irishtimes.com/news/crime-and-law/courts/high-court/howth-resident-can-challenge-housing-development-permission-high-court-says-1.4273500?mode=amp
- Loopholes in Planning Regulations – Using a Deceased Man’s Identity to Report https://www.radiokerry.ie/loopholes-planning-regulations-using-deceased-mans-identity-report/
- Public consultation begins for Rosslare Harbour access road
https://m.independent.ie/regionals/goreyguardian/public-consultation-begins-for-rosslare-harbour-access-road-39269828.html
- Application for cycle and walking path between two popular Donegal holiday villages rejected – Derry Now https://www.derrynow.com/news/news/548788/application-for-cycle-and-walking-path-between-two-popular-donegal-holiday-villages-rejected.html
- Hines and APG achieve important milestone in Cherrywood development https://m.independent.ie/business/commercial-property/hines-and-apg-achieve-important-milestone-in-cherrywood-development-39274543.html
- Harold’s Cross: The neighbourhood becoming Dublin’s new hotspot https://m.independent.ie/storyplus/harolds-cross-the-neighbourhood-becoming-dublins-new-hotspot-39263378.html
- Pedestrianisation of Cork streets could take two more weeks following objections https://www.irishexaminer.com/breakingnews/ireland/pedestrianisation-of-cork-streets-could-take-two-more-weeks-following-objections-1004076.html More on this: Temporary pedestrianisation to be introduced on streets in 2 Cork towns https://www.corkbeo.ie/news/local-news/temporary-pedestrianisation-introduced-streets-2-18415479
- Galway awarded €196,000 to preserve historic buildings and heritage https://www.galwaydaily.com/news/galway-awarded-e196000-to-preserve-historic-buildings-and-heritage/
- 6 Reasons Your City Needs a Form-Based Code https://www.strongtowns.org/journal/2020/6/8/6-reasons-your-city-needs-a-form-based-code
*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
- Planning approvals for apartment units soar in first quarter – Permission granted for 9,698 apartments units, up 274.2% versus first quarter of 2019 https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/economy/planning-approvals-for-apartment-units-soar-in-first-quarter-1.4277480?mode=amp
- Pace of decline in construction activity reduces as lockdown lifts
https://m.independent.ie/business/irish/pace-of-decline-in-construction-activity-reduces-as-lockdown-lifts-39267078.html
- Use of both drone footage and time-lapse videos in the Irish construction sector has increased significantly over the past three years … https://www.lensmen.ie/time-lapse-videos/lensmen-time-lapse-for-construction/
- Last orders being called at pubs presents opportunities for property developers https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/transport-and-tourism/last-orders-being-called-at-pubs-presents-opportunities-for-property-developers-1.4277870?mode=amp
- Plans for new hotel on the Liffey’s quays in Dublin opposed with claims it will destroy views along the river https://www.thejournal.ie/ushers-quay-hotel-5116866-Jun2020/
- €44.5m flat complex in Dublin gets green light from Department of Housing https://www.breakingnews.ie/ireland/445m-flat-complex-in-dublin-gets-green-light-from-department-of-housing-1003934.html
- Council Briefs: Plans for Former TUD Site on Kevin | Dublin Inquirer https://dublininquirer.com/2020/06/10/council-briefs-plans-for-former-tud-site-on-kevin-street-herbert-park-site-and-changes-to-homeless-system-since-covid-19
- Bord Pleanála gave approval for 9,500 student bedrooms – Student accommodation business facing uncertain future https://www.irishtimes.com/business/construction/bord-plean%C3%A1la-gave-approval-for-9-500-student-bedrooms-1.4276946?mode=amp
- Goodman firm withdraws appeal over demolition of historic buildings https://m.independent.ie/business/commercial-property/goodman-firm-withdraws-appeal-over-demolition-of-historic-buildings-39280088.html
- Tall buildings plan for Cork will keep ‘special character’ – Independent.ie https://m.independent.ie/business/commercial-property/tall-buildings-plan-for-cork-will-keep-special-character-39273990.html
- DAA to suspend new office plan at Dublin Airport – CEO https://m.independent.ie/business/irish/daa-to-suspendnew-office-planat-dublin-airport-ceo-39276770.html
- Plans for new Cork homes as CSO report surge in apartments https://www.irishexaminer.com/breakingnews/property/plans-for-new-cork-homes-as-cso-report-surge-in-apartments-1004947.html
- Meat company claims minister’s rezoning decision is wrong in law – McCarthy Meats want High Court to quash direction on land for 300 houses
https://www.irishtimes.com/business/commercial-property/meat-company-claims-minister-s-rezoning-decision-is-wrong-in-law-1.4276792?mode=amp
- Optimism on property market encourages projects to restart https://m.independent.ie/business/commercial-property/optimism-on-property-market-encourages-projects-to-restart-39276788.html
- Galway City Council is to submit plans to An Bord Pleanála for the development of a pedestrian bridge over the River Corrib. https://galwaybayfm.ie/galway-bay-fm-news-desk/galway-city-council-to-submit-plans-for-new-pedestrian-bridge-parallel-to-salmon-weir-bridge/
- Plans to convert prominent Eyre Square store into café https://www.galwaydaily.com/news/plans-to-convert-prominent-eyre-square-store-into-cafe/
- Competition: One Opera Square, Limerick | Competition | Architects Journal
Limerick 2030 is on the hunt for a design team to deliver the first phase of its ambitious €180 million Project Opera development
https://www.architectsjournal.co.uk/competitions/competition-one-opera-square-limerick/10047284.article
- Plans for new labs and offices for Millennium Park in Naas
https://www.kildarenow.com/news/home/549037/plans-for-new-labs-and-offices-for-millennium-park-in-naas.html
- Huge €8 million expansion and move on the cards for The Crossings dealership, Naas
New at Newhall: The development will see The Crossings add a Lexus franchise to its Toyota offering https://www.leinsterleader.ie/news/news/550203/huge-8-million-expansion-and-move-on-the-cards-for-the-crossings-dealership-naas.html
- Athgarvan sees planning permission granted for new development including apartments – Medical centre in the planning granted https://www.kildarenow.com/news/home/549866/athgarvan-sees-planning-permission-granted-for-new-development-including-apartments.html
- Designers chosen for flood defences for Portarlington town in July – Leinster Express https://www.leinsterexpress.ie/news/portarlington-/550209/designers-chosen-for-flood-defences-for-portarlington-town-in-july.html
- Award-winning UK architects behind plans for holiday lodges in Baltinglass https://www.kildarenow.com/news/home/549213/award-winning-uk-architects-behind-plans-for-holiday-lodges-in-baltinglass.html
- Quintain Ireland appoints Norman Higgins as Head of Construction https://www.irishbuildingmagazine.ie/2020/06/10/quintain-ireland-appoints-norman-higgins-as-head-of-construction/
- An Bord Pleanala is reactivating a case relating to a north Kerry windfarm planning application that was the subject of Supreme Court proceedings.
https://www.radiokerry.ie/bord-pleanala-reactivates-north-kerry-windfarm-appeal/
- Thriving in a troubled world – The pandemic has scuppered countless construction projects, but architect Dave O’Shea and his firm Odos are still brimful of optimism for the future https://www.businesspost.ie/design/thriving-in-a-troubled-world-85ff57ea
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 *
- How to Angel Invest, Part 2 https://nav.al/angel-2
- CIF DIGICON 2020 goes Virtual
http://www.bimireland.ie/2020/06/04/cif-digicon-summit-2020-goes-virtual/
- Smart and interactive: How Glenveagh Homes is using tech to make house viewings safer, Starting with smartphone-controlled front doors. https://www.thejournal.ie/glenveagh-homes-safety-5109136-Jun2020/
- Energy start-up provides reliable flow of data on properties – ZiggyTec uses Internet of Things to monitor utilities usage and manage energy sustainability reporting https://www.irishtimes.com/business/innovation/energy-start-up-provides-reliable-flow-of-data-on-properties-1.4269653?mode=amp
- Geowox knows the value of location, location, location | Think Business https://www.thinkbusiness.ie/articles/geowox-machine-learning-property-valuations-mortgages/?_lrsc=a707c236-111d-4632-bbb1-301277237e06&utm_source=elevate&utm_medium=social&utm_campaign=LinkedIn
- Clare digital start-up’s constructive approach to building | Think Business https://www.thinkbusiness.ie/articles/addjust-kilrush-clare-digital-cloud-construction/
- Youbid hopes to consolidate initial success with latest auction – The online platform sold €1.23m worth of properties at its inaugural event last month https://www.businesspost.ie/commercial/youbid-hopes-to-consolidate-initial-success-with-latest-auction-baf442cc
- Final Days to Apply for AcceliCITY 2020: Leading Cities
A global competition seeking entrepreneurs whose ventures utilize smart city solutions to address risk, equity and sustainability in our urban environments.
Open to any and all Smart City solution providers addressing urban challenges.
https://accelicity.com/home
- Autonomous public transport bus trials to launch in five European cities – Cities Today – Connecting the world’s urban leaders https://cities–today-com.cdn.ampproject.org/c/s/cities-today.com/autonomous-public-transport-bus-trials-to-launch-in-five-european-cities/amp/
- Software firm to host ‘post-Covid’ PropTech webinar with partners
https://www.lettingagenttoday.co.uk/breaking-news/2020/6/software-firm-to-host-proptech-webinar-with-partners?source=newsticker
- The brothers who founded Purplebricks – Michael and Kenny Bruce – have returned to the agency industry for the first time since leaving the hybrid company a year ago.
They have set up Agents Together, a foundation currently seeking charitable status, with some £1m funding provided directly by the brothers https://www.estateagenttoday.co.uk/breaking-news/2020/6/purplebricks-founders-reveal-new-project-to-re-enter-the-agency-industry
- The Pandemic Froze Demand For Office Proptech, But Reopening Is Creating A Surge In Adoption
Read more at: https://www.bisnow.com/national/news/technology/workplace-proptech-companies-benefiting-amid-return-to-office-104780
- PlaceTech | Full speaker line-up unveiled for Relevation tech investment summit https://placetech.net/news/full-speaker-line-up-unveiled-for-relevation-tech-investment-summit/
- Four proptech offerings triggered by the pandemic https://www.afr.com/property/commercial/four-proptech-offerings-triggered-by-the-pandemic-20200609-p550sa
- Office Proptech Startup Lane Raises $10M in Series A https://therealdeal.com/2020/06/11/proptech-startup-lane-raises-10m-for-office-platform/
RESIDENTIAL PROPERTY NEWS
- In The Sunday Times today, As Irish estate agents relaunch, how will house prices fare? https://www.thetimes.co.uk/edition/ireland/as-irish-estate-agents-relaunch-how-will-house-prices-fare-hs86zfrl5
- Dublin most expensive place to live in euro zone due to high rents – Cost of living survey places Irish capital 46th globally but top in the euro area https://www.irishtimes.com/business/economy/dublin-most-expensive-place-to-live-in-euro-zone-due-to-high-rents-1.4273703?mode=amp
- There’s been a 39% spike in homes for rent in Dublin compared to last May – The 39% spike is the highest one-month total for rental listings in the capital since August 2015. https://www.thejournal.ie/39-spike-dublin-rent-ads-5117496-Jun2020/
- Property Price Register posts big house sales during lockdown:
‘Swankiest house on the green line’ and Italianate hillside home in Killiney among sales
https://www.irishtimes.com/life-and-style/homes-and-property/property-price-register-posts-big-house-sales-during-lockdown-1.4275419?mode=amp
- Property professionals anticipate surge in demand for outdoor space when housing market reopens
http://www.irishnews.com/paywall/tsb/irishnews/irishnews/irishnews//business/2020/06/11/news/property-professionals-anticipate-surge-in-demand-for-space-when-housing-market-reopens-1969895/content.html
- Central Bank of Ireland ‘gave a nudge’ to AIB on trackers https://www.thetimes.co.uk/article/central-bank-of-ireland-gave-a-nudge-to-aib-on-trackers-hl52x555n
- Unpaid rent, destroyed properties: Landlords’ tales from the rental market https://www.irishtimes.com/life-and-style/homes-and-property/unpaid-rent-destroyed-properties-landlords-tales-from-the-rental-market-1.3899675?mode=amp
- Preservation order issued for 1970s Dublin blocks – 24 St Stephen’s Green and 10 Burlington Road added to record of protected structures https://www.irishtimes.com/culture/heritage/preservation-order-issued-for-1970s-dublin-blocks-1.4273086?mode=amp
- The best of both worlds?
PRS schemes and communal spaces could be what are required to help solve the housing problem https://www.businesspost.ie/design/the-best-of-both-worlds-6873e042
- Paraguayan bank chief sells shares and snaps up top Irish properties – Sudameris’s Conor McEnroy is refurbishing 2 Clyde Road in Ballsb https://www.businesspost.ie/companies/paraguayan-bank-chief-sells-shares-and-snaps-up-top-irish-properties-2bc1abb4
- Kildare Property Watch: Modern office premises on the market in Naas
Two-storey premises: The property would suit a professional owner occupier or an investor https://www.kildarenow.com/news/news/550225/kildare-property-watch-modern-office-premises-on-the-market-in-naas.html
COMMERCIAL PROPERTY NEWS
- Welcome to the pandemic-proof office of the future – As workplaces start to reopen, precautions such as air purifying, virus screening and health apps will play a part in helping people feel safe https://www.thetimes.co.uk/edition/ireland/welcome-to-the-pandemic-proof-office-of-the-future-8xh65c0gh
- Picking up from the pandemic
TWM has managed to get a number of property deals over the line in spite of the lockdown https://www.businesspost.ie/commercial/picking-up-from-the-pandemic-32c74116
- An Post looks to relocate from GPO to Dublin’s tallest office – Company in talks for at least 120,000sq ft at the Exo Building in city’s north docklands https://www.irishtimes.com/business/commercial-property/an-post-looks-to-relocate-from-gpo-to-dublin-s-tallest-office-1.4274459?mode=amp
- World’s largest law firm signs deal for new Dublin offices – Dentons set to pay €54 per sq ft for second floor at Joshua House on Dawson Street https://www.irishtimes.com/business/commercial-property/world-s-largest-law-firm-signs-deal-for-new-dublin-offices-1.4273526?mode=amp
- US tech giant signs $27m deal for prime Dublin city offices – MongoDB, valued at $11.5bn, has leased office with space for 500 people https://m.independent.ie/business/technology/us-tech-giant-signs-27m-deal-for-prime-dublin-city-offices-39282323.html
- Iconic Offices unveils Covid-19 safety plan for staff and clients – The luxury flexible workspace provider’s plans include new floor layouts, sanitising stations and health packs https://www.businesspost.ie/design/iconic-offices-unveils-covid-19-safety-plan-for-staff-and-clients-8863a49b
INTERNATIONAL PROPERTY NEWS
- A Scottish company majority-owned by Irish house builder Menolly Homes has sold off a Scottish estate where it hoped to build a luxury resort and golf course.
Seamus Ross, pictured, founder of Menolly Homes, and Dr Iain Wright, an engineer, purchased Dalquharran Castle in South Ayrshire and the surrounding 261-acre estate in 2001, through Kezia-DCM. https://www.thetimes.co.uk/article/seamus-ross-bids-auld-lang-syne-to-dalquharran-castle-resort-plan-2h565qmf5
- Concrete firm’s revenue jumps 30% in 2019 https://www.constructionnews.co.uk/financial/concrete-firms-revenue-jumps-30-in-2019-08-06-2020/
- Post-lockdown buyers swap flats for houses – The first signs are emerging that the lockdown has impacted on the type of homes buyers now find desirable. https://www.constructionenquirer.com/2020/06/11/post-lockdown-buyers-swap-flats-for-houses/
NEW FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS
Irish Property Buyers Handbook annuals
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/