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: 

 

 

• In the Sunday Independent today, Building to a crisis: Fixing the Irish housing model – The housing crisis is now more than a decade old but the impact of Covid means it may now be coming to a crucial phase, writes Fearghal O’Connor https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/personal-finance/property-mortgages/building-to-a-crisis-fixing-the-irish-housing-model-39504402.html

 

 

• New State body required to build homes and tackle housing crisis – Specialised body would all but eliminate administrative duplication in current system https://www.irishtimes.com/opinion/new-state-body-required-to-build-homes-and-tackle-housing-crisis-1.4342234?mode=amp

 

• Builders propose €85k loan boost for first-time buyers https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/personal-finance/property-mortgages/builders-propose-85k-loan-boost-for-first-time-buyers-39506685.html

 

 

• Land Development Agency ‘not the solution to the housing crisis’ https://www.irishexaminer.com/news/arid-40041179.html?type=amp

 

• Housing units in planning system drop by 27% as coronavirus dents activity https://www.irishtimes.com/business/construction/housing-units-in-planning-system-drop-by-27-as-coronavirus-dents-activity-1.4343943?mode=amp

 

• Desmond firm was paid €1.6m to bring privacy and property disputes to end https://amp.independent.ie/irish-news/desmond-firm-was-paid-16m-to-bring-privacy-and-property-disputes-to-end-39504806.html

 

• Mortgage-to-rent body raises €26m via immigrant investor scheme: I Care founder David Hall expects his charitable body to have acquired more than 500 homes by year’s end https://www.businesspost.ie/financial-services/mortgage-to-rent-body-raises-26m-via-immigrant-investor-scheme-b6b5654d

 

• I look forward to moderating a panel discussion on “Green Data Factories & New Economic Opportunities” with George Kamiya from International Energy Agency (IEA) & Host in Ireland’s Garry Connolly next Tuesday at 14:00 –  Registration at https://lnkd.in/eNZiZ9V

 

 

 

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 1

Welcome back to Property Matters – episode 1 of Series 3, how did that happen?!

 

After a brief summer break (where our airtime was ably-filled by Proptech Ireland for their ‘Meet the Founder” series, listen back at iPropertyRadio.com),  we catch up on what has been happening in the marketplace with Pat Davitt, CEO of IPAV. We also chat to Karen Muldowney, Sharpoorji Pallonji Business Manager for Ireland and the UK about keeping construction projects going and winning new business during the pandemic.

 

We speak to CIM General Manager for Europe, Paul Walsh, about the increasing importance of data analytics for building operators and how this has changed – and needs to change – as a result of Covid-19.

 

Listen back here: www.iPropertyRadio.com    

 

 

Email the Property Matters team at hello@iPropertyRadio.com 

 

 

 

PLACEMAKING

 

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

• So that’s it. We are leaving Dublin behind and moving to the country: The future we had envisioned for our children no longer exists. That scares us https://www.irishtimes.com/life-and-style/health-family/parenting/so-that-s-it-we-are-leaving-dublin-behind-and-moving-to-the-country-1.4338513?mode=amp

 

• Escaping the decay of rural Ireland: Getting busy living in and reviving the community of Asdee https://www.irishexaminer.com/news/spotlight/arid-40040105.html?type=ampa

 

• ‘An eerie ghost town’: will home working starve our city centres? The mass exodus of office workers is changing the face of Dublin – and squeezing the businesses that depend on them. Kim Bielenberg asks if it is likely to be a permanent development, and what that would mean https://m.independent.ie/irish-news/an-eerie-ghost-town-will-home-working-starve-our-city-centres-39501883.html

 

• We made a pandemic move to the country:  AFTER RENTING FOR A DECADE, THE ROBBINS FAMILY SWAPPED A CRAMPED DUBLIN THREE-BED FOR A LARGE HOUSE AND GARDEN IN CO WEXFORD https://www.irishtimes.com/life-and-style/homes-and-property/we-made-a-pandemic-move-to-the-country-1.4344629?mode=amp

 

• New Dublin DART station moves a step closer as Irish Rail lodges planning bid https://www.dublinlive.ie/news/dublin-news/irish-rail-seek-planning-permission-18855768

 

• Planning permission granted for two-school campus in Dublin 4 https://www.irishtimes.com/news/education/planning-permission-granted-for-two-school-campus-in-dublin-4-1.4343928?mode=amp

 

• Government urged to progress South Galway flood relief scheme as feasibility study set to be published – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/government-urged-to-progress-south-galway-flood-relief-scheme-as-feasibility-study-set-to-be-published/

 

• Local delight as new Phil Lynott mural unveiled in Crumlin https://www.dublinlive.ie/news/local-delight-new-phil-lynott-18867931

 

• Billionaire tycoon to visit Louth as he looks to build city in Ireland to house thousands of Hong Kong citizens https://www.irishpost.com/news/billionaire-tycoon-to-visit-louth-as-he-looks-to-build-city-in-ireland-to-house-thousands-of-hong-kong-citizens-191957

 

• Ailesbury Road residents fail to stop ruling on housing plan for RTÉ land https://www.irishtimes.com/business/construction/ailesbury-road-residents-fail-to-stop-ruling-on-housing-plan-for-rt%C3%A9-land-1.4346918?mode=amp

 

• Land Development Agency – The first phase of public engagement for site of CMH in Dundrum is aimed at gathering information from the local area. https://dublinpeople.com/news/southside/articles/2020/09/03/dundrum-residents-to-be-quizzed-on-plans-for-site-of-central-mental-hospital/?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

 

•  Building projects getting started around the country: https://www.businesspost.ie/commercial/untitled-50a96c8a

 

• Irish construction suffers record 45% contraction in output: Fall-off in activity as a result of coronavirus was nearly four times bigger than euro area average https://www.irishtimes.com/business/construction/irish-construction-suffers-record-45-contraction-in-output-1.4346592?mode=amp

 

• More on this: Coronavirus in Ireland: Construction industry records sharpest ever drop in output https://www.thetimes.co.uk/article/coronavirus-in-ireland-construction-industry-records-sharpest-ever-drop-in-output-p2q8mh87h

 

• Minister for Housing, Darragh O’Brien, has welcomed the announcement by Initiative Ireland and CUDA, the Credit Union Development Association, of their plan to launch a new social and affordable housing fund supported by Credit Unions https://www.irishbuildingmagazine.ie/2020/09/04/initiative-ireland-partners-with-cuda-to-launch-new-housing-fund/

 

• Castlehaven Finance backs Eastwise’s Hartfield Place development. The Dublin-based alternative lender is funding the landmark development of 374 apartments in North Dublin City https://www.irishbuildingmagazine.ie/2020/09/01/castlehaven-finance-backs-eastwises-hartfield-place-development/

 

• Diageo has chosen Ballymore as its partner to deliver the transformation of 12.6 acres of its St James’s Gate site in Dublin into one of the most dynamic urban quarters in Europe. https://www.rte.ie/news/business/2020/0903/1162955-diageo-and-ballymore-team-up/

 

• Marlet Property Group wants to expand Dublin development to 600 homes: One of the country’s largest property groups has submitted plans to increase the size of one of its developments in Dublin to include almost 600 homes. Last week Marlet Property Group lodged plans with An Bord Pleanála to expand its proposed housing project at Grand Canal Harbour in the Liberties, near the Guinness brewery. https://www.thetimes.co.uk/article/marlet-property-group-wants-to-expand-dublin-development-to-600-homes-xjn7wxdhx

 

• Johnny Ronan’s rivals for Irish Glass Bottle site circle as deal drags: Underbidders make contact with Nama as deadline for RGRE-Colony deal passes https://www.irishtimes.com/business/commercial-property/johnny-ronan-s-rivals-for-irish-glass-bottle-site-circle-as-deal-drags-1.4346026?mode=amp

 

• Johnny Ronan aims for Dublin’s tallest tower in city’s docklands: Developer Johnny Ronan’s Ronan Group Real Estate (RGRE) has commenced construction on one of its most ambitious schemes to date in Dublin’s docklands https://www.irishtimes.com/business/commercial-property/johnny-ronan-aims-for-dublin-s-tallest-tower-in-city-s-docklands-1.4343983?mode=amp

 

• Ireland Bi-Monthly Research Report September 2020:  Increase in transactional activity anticipated in some sectors of the market from this point forward although this Autumn selling season will be different https://www.cbre.ie/en/research-and-reports/Ireland-Bi-Monthly-Research-Report-September-2020?utm_source=linkedin&utm_medium=social&utm_term=db46da24-38e5-4c54-9c91-601a643a5adf

 

• Hotel builds to be cancelled to make way for new homes: Developers to change plans as they seek to capitalise on demand for housing amid dramatic drop in hotel occupancy, according to report https://www.businesspost.ie/property-insight/hotel-builds-to-be-cancelled-to-make-way-for-new-homes-7dd05a3e?utm_campaign=article&utm_source=twitter&utm_medium=web

 

• Larry Goodman gets green light to redevelop Kildare Street building: The beef baron has experienced several setbacks in his attempts to overhaul properties he owns in the area https://www.businesspost.ie/commercial/larry-goodman-gets-green-light-to-redevelop-kildare-street-building-ffb23d26

 

• Stoneweg to develop 397-unit co-living scheme on Cork St: Property investment firm intends to develop a 397-unit co-living development https://www.irishtimes.com/business/commercial-property/stoneweg-to-develop-397-unit-co-living-scheme-on-cork-st-1.4344082?mode=amp

 

• Rathmines co-living development gets An Bord Pleanála approval despite residents’ complaints | Ireland | The Times https://www.thetimes.co.uk/article/rathmines-co-living-development-gets-an-bord-plean-la-approval-despite-residents-complaints-3r29k7thp

 

• Co-living developer seeks meeting with housing minister over ‘sustained misinformed public commentary’ https://www.thejournal.ie/co-living-meeting-with-minister-bartra-public-commentary-5192357-Sep2020/

 

• Final whistle for Kiely’s pub as co-living plans emerge: A property development firm is aiming to build a shared living complex on the site of Kiely’s, which closed in 2018 https://www.businesspost.ie/commercial/final-whistle-for-kielys-pub-as-co-living-plans-emerge-cc996d9c

 

• South Dublin residential development site seeking €2.95m https://www.irishtimes.com/business/commercial-property/south-dublin-residential-development-site-seeking-2-95m-1.4341102?mode=amp

 

• Permission granted for 48-bed apartment block in Dublin after council rejected proposal in 2017 https://www.thejournal.ie/apartment-planning-permission-north-strand-dublin-5191335-Sep2020/

 

• Coronavirus Ireland: Builder working on site of new National Children’s Hospital in Dublin city centre tests positive for virus. Workers on the controversial €2 billion health hub on the grounds of St James’s Hospital were informed on Monday that a subcontractor had tested positive for COVID https://www.dublinlive.ie/news/health/national-childrens-hospital-builder-covid-18860310.amp

 

• Planning granted for student accommodation near the Lough in Cork https://www.irishexaminer.com/property/developmentconstruction/arid-40042904.html

 

• Planning permission lodged for 20 new Kilkenny City homes https://kclr96fm.com/planning-permission-lodged-for-20-new-kilkenny-city-homes/

 

• Planning permission approved for over thirty new homes in Ballinamore – Shannonside https://www.shannonside.ie/news/local/leitrim/planning-permission-approved-thirty-new-homes-ballinamore/

 

• Cavan-based wind energy company granted permission for construction of energy storage system – Northern Sound https://www.northernsound.ie/cavan-based-wind-energy-company-granted-permission-construction-energy-storage-system/

 

• US activist fund Teleios Capital builds up 10 per cent stake in Glenveagh Homes: Investment by Epstein vehicle Teleios Capital and similar move by Italian hedge fund follow Davy’s reassurance of future growth in sector https://www.businesspost.ie/companies/us-activist-fund-teleios-capital-builds-up-10-per-cent-stake-in-glenveagh-homes-70eca7f2

 

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 * 

 

• Proptech Key to Co-Living Asset Success https://theurbandeveloper.com/articles/proptech-co-living-salto-systems-proptech

 

• Paul Brennan, BAM Ireland’s Head of Digital Construction speaks with Irish building magazine about training and skills, the importance of offering more than competitors https://www.irishbuildingmagazine.ie/2020/08/31/paul-brennan-building-skills/

 

• Avoiding extinction: It’s all about managing construction data https://www.pbctoday.co.uk/news/construction-technology-news/technology-in-construction-2/82009/

 

• Green Data Factories and New Economic Opportunities https://irishtechnews.ie/green-data-factories-host-in-ireland-webinar/amp/

 

• Construction tech startups: Digitalising to solve specific problems https://www.verdict.co.uk/construction-startups-productivity/

 

• 6 proptech start-ups worth keeping an eye on https://www.siliconrepublic.com/start-ups/proptech-startups-ireland-uk-property-technology

 

• Construction to Production Strategy https://www.irishbuildingmagazine.ie/2020/09/02/construction-to-production-strategy/

 

• Modular Building Institute-sponsored Offsite Construction Expo goes virtual https://www.pbctoday.co.uk/news/modular-construction-news/offsite-construction-expo/81588/

 

• Boomin is only new UK portal that can rival Rightmove – top agent  https://www.estateagenttoday.co.uk/breaking-news/2020/8/boomin-is-only-new-portal-that-can-rival-rightmove–top-agent

 

• Proptech And Fintech Providers Fight To Become Real Estate Market Leaders In Switzerland https://www.forbes.com/sites/forbesrealestatecouncil/2020/08/24/proptech-and-fintech-providers-fight-to-become-real-estate-market-leaders-in-switzerland/amp/

 

• RealPage, a publicly traded full-service property management technology firm with over 12,200 clients worldwide, today announced that it has acquired Stratis IoT, a startup that provides IoT services to the real estate industry, with a focus on access and energy management tools. https://techcrunch.com/2020/08/31/realpage-acquires-real-estate-iot-startup-stratis/

 

• The future of retail and office space is up in the air, and proptech investors are optimistic https://techcrunch.com/2020/09/05/the-future-of-retail-and-office-space-is-up-in-the-air-and-proptech-investors-are-optimistic/

 

RESIDENTIAL PROPERTY NEWS

 

• Investment in Dublin private rented sector remains robust in face of Covid-19 https://www.irishtimes.com/business/commercial-property/investment-in-dublin-private-rented-sector-remains-robust-in-face-of-covid-19-1.4343075?mode=amp

 

• More than one-third of renters living in deprivation, new figures show https://www.irishexaminer.com/news/arid-40041935.html?type=amp

 

• Tenancy board launched 51 investigations into alleged breaches of rental laws last year   https://www.irishexaminer.com/news/arid-40042958.html

 

• Online auctions performing well despite post-lockdown fears https://www.advertiser.ie/galway/article/116659/online-auctions-performing-well-despite-post-lockdown-fears

 

• 3 old farmhouses for sale around Ireland under €200,000 https://www.image.ie/amp/interiors/3-old-farmhouses-for-sale-around-ireland-under-e200000-212751

 

• Top 10 BREATHTAKINGLY BEAUTIFUL buildings in Ireland https://www.irelandbeforeyoudie.com/top-10-breathtakingly-beautiful-buildings-in-ireland/

 

• Raffle by Covid-19 survivors raised close to €1m for frontline healthcare support staff https://www.irishtimes.com/news/ireland/irish-news/woman-who-won-dream-mayo-cottage-for-50-looks-forward-to-remote-working-1.4343116?mode=amp

 

• House of spirits: A descendant of Daniel O’Connell gives a family tour of his family’s stunning Co Kerry home  https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/life/home-garden/homes/house-of-spirits-a-descendant-of-daniel-oconnell-gives-a-family-tour-of-his-familys-stunning-co-kerry-home-39494300.html

 

 

 

COMMERCIAL PROPERTY NEWS

 

• Office rents set to drop as firms rethink requirements:  Office rents are expected to fall and vacancies rise as occupiers rethink their post Covid needs to reflect more working from home, and in some cases fewer staff https://m.independent.ie/business/commercial-property/office-rents-set-to-drop-as-firms-rethink-requirements-39497160.html

 

• Liquidity build-up to see property investments rise https://www.irishexaminer.com/property/commercial/arid-40041881.html?type=amp

 

• CBRE reports spike in demand for logistics warehouse space: Trend is being driven by increased appetite for space from online retailers, as well as demand for storage warehouses for pharmaceuticals and food https://www.businesspost.ie/property-insight/cbre-reports-spike-in-demand-for-logistics-warehouse-space-ac85cf2f

 

• Pepper Money has become the first lender to exit the commercial property market since the onset of the pandemic. Customers have been told the Australian owned lender will no longer make new commercial property and buy-to-let loans. https://amp.independent.ie/business/pepper-to-stop-commercial-property-lending-39503673.html

 

•  Hotel group Dalata features across all of the broadsheets today with news of a fall in asset value of €161 million: ‘Chief executive Pat McCann is confident of surviving any future coronavirus downturn, but says many other business won’t be so lucky’ https://www.businesspost.ie/companies/hotel-group-dalata-braces-itself-for-a-bleak-winter-ahead-917e2992

 

• Green Reit owner Henderson Park Capital to cast off George’s Quay site https://www.thetimes.co.uk/article/green-reit-owner-henderson-park-capital-to-cast-off-georges-quay-site-kz3p0n7xx

 

INTERNATIONAL PROPERTY NEWS

 

• HS2: Construction on super fast railway line officially begins –  Construction on super-fast railway line HS2 has officially begun. But you won’t be able to take a trip on it anytime soon as it will take at least eight years to complete the first stage, and 20 years to fully build! It’s being built in two stages, with the first part between London and Birmingham aiming to be finished between 2028 and 2031. The second part of the line between the Midlands and Manchester and Leeds, is due to be completed by 2040 at the latest. https://www.bbc.co.uk/newsround/54023479

 

• Tens of thousands of people in the UK and Ireland who lost out in Spain’s catastrophic property crash are now able to claim their deposits back, but they are being warned that they are entering the last chance saloon: https://www.propertyinvestortoday.co.uk/breaking-news/2020/8/revealed–times-running-out-to-claim-thousands-lost-in-spains-property-crash

 

• UK Contractor Of The Year (turnover over £500m): finalists https://www.constructionnews.co.uk/events/cn-awards/contractor-of-the-year-turnover-over-500m-finalists-01-09-2020/

 

• 22,000 jobs boost as HS2 swings to full construction https://www.constructionenquirer.com/2020/09/04/22000-jobs-boost-as-hs2-swings-to-full-construction/

 

• Barratt Developments’ profits halve after lockdown hits sales and construction https://www.thetimes.co.uk/article/barratt-developments-profits-halve-after-lockdown-hits-sales-and-construction-blb6cjnf2

 

• Music mogul Akon going ahead with futuristic ‘Akon City’ in Senegal: US-Senegalese star says smart city will be built in mould of fictional nation Wakanda https://www.theguardian.com/world/2020/sep/01/music-mogul-akon-going-ahead-with-futuristic-akon-city-in-senegal

 

 

• Karma time for Australian tenants as apartments lie vacant and rents plummet https://www.theguardian.com/money/2020/sep/05/karma-time-for-tenants-as-apartments-lie-vacant-and-rents-plummet

 

 

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/