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: 

 

• A lifelong construction worker has described sleepless nights ‘staring at the darkness’ as he opened up on the mental, physical and financial toll of three lockdowns https://www.irishexaminer.com/news/munster/arid-40253819.html

 

• RTE viewers horrified by findings of OPW investigation on Prime Time https://www.irishmirror.ie/news/rte-viewers-horrified-findings-opw-23841109.amp

 

• Dublin and decentralisation: Nial Ring says the capital has to lead the recovery | Newstalk https://www.newstalk.com/news/dublin-is-the-answer-to-the-future-nial-ring-on-why-the-capital-has-to-lead-the-recovery-1171930

 

• Nama ‘on track’ to deliver 20,000 homes by revised target deadline https://www.irishtimes.com/business/construction/nama-on-track-to-deliver-20-000-homes-by-revised-target-deadline-1.4523955?mode=amp

 

• Also, Nama transfers €200m to exchequer as part of €1bn total this year https://www.irishtimes.com/business/economy/nama-transfers-200m-to-exchequer-as-part-of-1bn-total-this-year-1.4524988?mode=amp

 

• The height of confusion has rival regulators slugging it out https://m.independent.ie/business/commercial-property/the-height-of-confusion-has-rival-regulators-slugging-it-out-40263100.html

 

• Residents address the looming issue of high-rise developments: Following the Irish government’s relaxation of building heights, overshadowing and ‘right of light’ are becoming an important consideration for developers and other key stakeholders https://www.businesspost.ie/commercial/residents-address-the-looming-issue-of-high-rise-developments-6c5dcfe0

 

• €70,000 spent on legal fees over an 8.5 by 2m strip of land https://www.irishexaminer.com/farming/arid-40253480.html?type=amp

 

• Goldman Sachs to sell Irish non-performing loans attached to 1,000 properties https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/financial-services/goldman-sachs-to-sell-irish-non-performing-loans-attached-to-1-000-properties-1.4525438?mode=amp

 

• ‘I did feel guilty leaving during a pandemic … I did worry about what people would think’ https://m.independent.ie/regionals/braypeople/news/i-did-feel-guilty-leaving-during-a-pandemic-i-did-worry-about-what-people-would-think-40264524.html

 

• As the Property District Ireland team continues to grow, we are looking for an experienced Executive Assistant (5 years+) to join us. Excellent organisation skills essential! This is a full-time, mid-career position and not suitable for recent graduates. Also, as noted below, broad life experiences gained whilst taking a career break for any reason will be valued as such. We look forward to hearing from dynamic candidates who are seeking to have a real and positive impact on the business and on the industry. Email CV to info@propertydistrict.ie

 

 

 

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.

 

On #PropertyMatters iPropertyRadio.com this week I sit down (virtually!) with Paul McKenna, CEO of Mac-Group  the specialist construction, interiors and modular contractors based in Dublin, Newry and Birmingham. Topics discussed include the early days of the business, the importance of team, the value of experience to hone sector expertise, and what lessons the Irish Government can learn from the UK and other country’s handling of the construction industry during the pandemic.  

 

Watch back: https://youtu.be/ahU8j1-VYOE 

 

 

*Listen back to all shows at: https://ipropertyradio.com/property-matters/

Email the Property Matters team at info@propertydistrict.ie

 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

• Ireland unveils remote working plan to redress urban-rural divide: Government says pandemic-era employment patterns present opportunity to shift balance https://amp.ft.com/content/445790e4-86bc-4697-be0d-5372044cd52b

 

• Pubs to become working hubs under rural Ireland plan: A Government plan to reinvigorate rural Ireland aims to breathe new life into dying towns and villages by transforming disused derelict buildings and pubs into remote working hubs. https://amp.rte.ie/amp/1206651/

 

 

• We must think local for a sustainable future: A balanced Covid-19 recovery is unattainable without investment in our towns and villages https://www.businesspost.ie/property-insight/we-must-think-local-for-a-sustainable-future-298cd78d

 

• “Bray is Wicklow not Dublin.” Locals react angrily to the news the town of Bray is joining County Dublin. | Newstalk https://www.newstalk.com/podcasts/highlights-from-the-pat-kenny-show/bray-is-wicklow-not-dublin-locals-react-angrily-to-the-news-the-town-of-bray-is-joining-county-dublin

 

• Enniskerry residents urged to ‘Have their Say’ https://wicklownews.net/2021/03/enniskerry-residents-urged-to-have-their-say/

 

• Permanent arts hub for Galway planned under post office tender https://www.irishtimes.com/news/ireland/irish-news/permanent-arts-hub-for-galway-planned-under-post-office-tender-1.4525359?mode=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

 

• Phased reopening of construction is ‘own-goal’ – CIF: The Construction Industry Federation has said it is “deeply disappointed” by the Government’s new plan for the easing of Covid-19 restrictions  https://amp.rte.ie/amp/1207066/

 

• Covid-19: Plan for easing restrictions criticised by hospitality and construction groups https://www.irishtimes.com/news/politics/covid-19-plan-for-easing-restrictions-criticised-by-hospitality-and-construction-groups-1.4524472?mode=amp

 

• Construction curbs could cut housebuilding to 16,000 units this year: Most estimates see the State needing 34,000 homes to be built annually https://www.irishtimes.com/business/construction/construction-curbs-could-cut-housebuilding-to-16-000-units-this-year-1.4525246?mode=amp

 

• Subdued prognosis in latest Linesight industry update: The latest edition of the specialist consultancy firm’s annual handbook looks at the impact of the lockdowns on the construction industry https://www.businesspost.ie/commercial/subdued-prognosis-in-latest-linesight-industry-update-0837e3c8

 

• Builders likely to face Covid-19 curbs for rest of year, construction report warns https://www.irishtimes.com/business/construction/builders-likely-to-face-covid-19-curbs-for-rest-of-year-construction-report-warns-1.4524210?mode=amp

 

• The two-step solution to our housing crisis – cut costs and build more, simple as that https://m.independent.ie/opinion/comment/the-two-step-solution-to-our-housing-crisis-cut-costs-and-build-more-simple-as-that-40262997.html

 

• Extended Construction Sector Lockdown in Ireland Impacts Domestic Economy and Labour Market https://www.irishbuildingmagazine.ie/2021/03/31/extended-construction-sector-lockdown-in-ireland-impacts-domestic-economy-and-labour-market/

 

• Government Facilitates Extension to Commencement Notices https://www.irishbuildingmagazine.ie/2021/04/02/government-facilitates-extension-to-commencement-notices/

 

• Work to start on 4,400 new homes after Government notice waiver https://www.irishtimes.com/business/construction/work-to-start-on-4-400-new-homes-after-government-notice-waiver-1.4527214?mode=amp

 

• Timber prices rise 5%, fuelling inflation in construction costs: Tackling licence backlog for tree-felling and planting one of the key aims of Government’s strategy for forestry https://www.irishtimes.com/business/construction/timber-prices-rise-5-fuelling-inflation-in-construction-costs-1.4527427?mode=amp

 

• When it comes to social homes, those costly old habits die hard: Turnkey developments, built by private developers and bought by the state, are the single most expensive way to provide social housing. So why are most of our social homes built in this way? https://www.businesspost.ie/houses/eoin-o-broin-when-it-comes-to-social-homes-those-costly-old-habits-die-hard-ffab441d

 

• Construction Information Services round-up | High Park on Grace Park Road in Drumcondra, Dublin 9: the €22 million apartment development has planning permission for 101 apartments in three blocks:Tenders invited for €22m infill build in Drumcondra, D9 https://www.businesspost.ie/commercial/construction-information-services-round-up-9d32de49

 

• Johnny Ronan interview: ‘Worrying about what I borrowed was a waste of f***ing time’: City council is blocking provision of housing, claims the colourful and controversial developer https://m.independent.ie/irish-news/johnny-ronan-interview-worrying-about-what-i-borrowed-was-a-waste-of-fing-time-40246896.html

 

• Glenveagh to pre-install broadband for new homes https://amp.rte.ie/amp/1206730/

 

• Red Rock Foley Street appeals against rejection of Dublin shared living block https://www.thetimes.co.uk/article/red-rock-foley-street-appeals-against-rejection-of-dublin-shared-living-block-ncvsqsp35

 

• Permission denied for €42m residential development in south Dublin: Developer failed to publish particular newspaper planning notice https://www.irishtimes.com/business/construction/permission-denied-for-42m-residential-development-in-south-dublin-1.4524287?mode=amp

 

• Hammerson deals blow to retail on Dublin Central site: Property investment firm scales back shops plans in regeneration scheme https://www.thetimes.co.uk/article/hammerson-deals-blow-retail-dublin-central-site-gqkl3qc2v

 

• Publican’s plan for apartment scheme will create ‘Goatshattan’ say residents https://www.irishtimes.com/news/ireland/irish-news/publican-s-plan-for-apartment-scheme-will-create-goatshattan-say-residents-1.4522385?mode=amp

 

• YMCA Sandymount site primed for housing seeks €10m https://www.irishtimes.com/business/commercial-property/ymca-sandymount-site-primed-for-housing-seeks-10m-1.4522190?mode=amp

 

• Gardaí starting to count cost of building conundrum: Plans for a new Garda centre in Dublin were based on the numbers of personnel which existed years ago. It may well be too small by the time it is built https://www.irishexaminer.com/opinion/commentanalysis/arid-40256636.html?type=amp

 

• Planning application lodged for 96 homes on Cork’s northside https://www.echolive.ie/corknews/arid-40256888.html

 

• New business park at Cork’s Little Island goes to new heights for business recovery and logistics demand: A bellwether for the economy, Harbour Gate is the first new business park to be started in the past decade in Cork’s industrial heartland https://www.irishexaminer.com/property/commercial/arid-40255547.html?type=amp

 

• Carra Shore Seeks Permission To Develop Hotel On Cork’s Camden Quay https://www.hospitalityireland.com/amp/hotel/carra-shore-seeks-permission-to-develop-hotel-on-corks-camden-quay-126837

 

• Lidl appeals county council’s refusal of plan for discount foodstore in Moycullen – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/lidl-appeals-county-councils-refusal-of-plan-for-discount-foodstore-in-moycullen/

 

• Post office site offers development potential at heart of Galway city: Premium rental bids are sought for interested parties to redevelop the land, as well as upgrading the current post office on Eglinton Street https://www.businesspost.ie/commercial/post-office-site-offers-development-potential-at-heart-of-galway-city-afcc7da0

 

• Tramore bar owner says planning refusal for outdoor terrace a ‘missed opportunity’ https://www.irishtimes.com/news/social-affairs/tramore-bar-owner-says-planning-refusal-for-outdoor-terrace-a-missed-opportunity-1.4523958?mode=amp

 

• Green light for new housing development in Letterkenny  https://www.highlandradio.com/2021/03/29/green-light-for-new-housing-development-in-letterkenny/

 

• Refusal of apartments in Tralee appealed | Radio Kerry https://www.radiokerry.ie/refusal-apartments-tralee-appealed/

 

• Astra Construction posted a thirteenfold increase in after-tax profits between 2018 and 2019, while Park Developments saw a €14.8m profit over 18 months https://www.businesspost.ie/houses/developers-reap-healthy-profits-while-claiming-housebuilding-is-not-lucrative-7c20c0e3

 

• Trevor Culbert appointed Group Head of Quality at Mercury https://www.irishbuildingmagazine.ie/2021/03/31/trevor-culbert-appointed-group-head-of-quality-at-mercury/

 

• North West Aluminium Appoints New Commercial Project Manager https://constructionnews.ie/north-west-aluminium-appoints-new-commercial-project-manager/amp/

 

• CIF appoints new chairman to Cork branch: Michael O’Sullivan Greene, an industry veteran with more than four decades of experience, is a director of Olos New Homes https://www.businesspost.ie/commercial/cif-appoints-new-chairman-to-cork-branch-cb3b57e1

 

 

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

 

• Proptech Ireland is updating the database of 2021 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 * 

 

• Q&A with Addjust CEO Padraig Neylon – Council.ie https://council.ie/qa-with-addjust-ceo-padraig-neylon/?utm_source=hootsuite&utm_medium=&utm_term=&utm_content=&utm_campaign=

 

• How tech and robots could help streamline construction https://www.siliconrepublic.com/enterprise/construction-digital-transformation-robots

 

• The path to a greener future begins in our cities https://www.smartcitiesworld.net/opinions/opinions/the-path-to-a-greener-future-begins-in-our-cities

 

• MediaCityUK launch for proptech firm Mr Investa | TheBusinessDesk.com https://www.thebusinessdesk.com/northwest/news/2076579-mediacityuk-launch-for-proptech-firm-mr-investa/

 

• PropTech – digitising applications and ‘first of its kind’ agent platform launches https://www.propertyinvestortoday.co.uk/breaking-news/2021/3/proptech–digitising-applications-and-first-of-its-kind-agent-platform-launches?source=newsticker

 

• Why proptech and fintech need to combine in 2021 – Scottish Construction Now https://www.scottishconstructionnow.com/article/dean-ward-why-proptech-and-fintech-need-to-combine-in-2021

 

• Smart Windows to Replace Air Conditioners – TechStory https://techstory.in/smart-windows-to-replace-air-conditioners/

 

• The Importance of Digitization in Construction Project Management https://www.enr.com/articles/51488-the-importance-of-digitization-in-construction-project-management

 

• Lithuanian proptech startup InRento lands pre-seed funds to grow ‘buy-to-let’ crowdfunding platform | EU-Startups https://www.eu-startups.com/2021/04/lithuanian-proptech-startup-inrento-lands-pre-seed-funds-to-grow-buy-to-let-crowdfunding-platform/

 

• Knock is the latest proptech said to be eyeing the public markets – TechCrunch https://techcrunch.com/2021/03/29/knock-is-the-latest-proptech-said-to-be-eyeing-the-public-markets/amp/

 

• Reopening retail safely with smart technology  https://www.pcr-online.biz/2021/03/31/reopening-retail-safely-with-smart-technology/

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• Which way are house prices heading? Depends on the data https://www.irishtimes.com/life-and-style/homes-and-property/which-way-are-house-prices-heading-depends-on-the-data-1.4523010?mode=amp

 

• Hot property: Is now the right time to buy a house? A shortage of homes has led to a spike in property prices, but should house hunters buy, sell, or sit it out in 2021? https://m.independent.ie/business/personal-finance/hot-property-is-now-the-right-time-to-buy-a-house-40255689.html

 

• House prices jump by €20,000 amid Covid ‘supply shock’ https://www.irishtimes.com/business/economy/house-prices-jump-by-20-000-amid-covid-supply-shock-1.4524301?mode=amp

 

• Houses sell in as little as two weeks despite the lockdown: Buyers are snapping up homes before setting foot inside them https://m.independent.ie/business/personal-finance/property-mortgages/houses-sell-in-as-little-as-two-weeks-despite-the-lockdown-40263097.html

 

• Killarney facing property crisis according to local estate agent | Radio Kerry https://www.radiokerry.ie/killarney-facing-property-crisis-according-local-estate-agent/

 

• Even when lockdown is over, housing market faces major upheaval https://m.independent.ie/business/personal-finance/property-mortgages/even-when-lockdown-is-over-housing-market-faces-major-upheaval-40263150.html

 

• Lack of supply sees three-bedroom semis selling in record low of two weeks https://www.breakingnews.ie/ireland/lack-of-supply-sees-three-bedroom-semis-selling-in-record-low-of-two-weeks-1105033.html

 

• Towards a new Irish housing system for asylum seekers and refugees https://www.consultancy.uk/news/amp/27457/towards-a-new-irish-housing-system-for-asylum-seekers-and-refugees

 

• Permanent TSB offers new low mortgage rate for those who do not opt for cash-back https://m.independent.ie/business/personal-finance/property-mortgages/permanent-tsb-offers-new-low-mortgage-rate-for-those-who-do-not-opt-for-cash-back-40251401.html

 

• Investor cannot prevent sale of €1.5m property: Court rules against claimed contract to buy Dublin house for  €10 https://m.independent.ie/business/personal-finance/property-mortgages/investor-cannot-prevent-sale-of-15m-property-40254494.html

 

• Built in 72 hours: This €1.5m Dublin home with indoor swimming pool went from foundations to functional in just three days https://m.independent.ie/life/home-garden/homes/built-in-72-hours-this-15m-dublin-home-with-indoor-swimming-pool-went-from-foundations-to-functional-in-just-three-days-40266570.html

 

• Cork ex-pats are seeking homes in the city’s affluent hillside https://www.irishexaminer.com/property/residential/arid-40254047.html

 

• Planning: Majority of Limerick councillors want to keep status quo in relation to one-off homes https://www.limerickleader.ie/news/home/620776/planning-majority-of-limerick-councillors-want-to-keep-status-quo-in-relation-to-one-off-homes.html

 

• 22 houses for sale in Ireland for less than €100k – bargains and starter-homes https://www.irishmirror.ie/lifestyle/homes-and-property/22-houses-sale-ireland-less-23835998.amp

 

• How to buy a sustainable and independent place in the sun: There’s a ‘sense of freedom, and phenomenal cost savings’ living outside a resort https://www.irishtimes.com/life-and-style/homes-and-property/how-to-buy-a-sustainable-and-independent-place-in-the-sun-1.4524053?mode=amp

 

 

 

COMMERCIAL PROPERTY NEWS

 

• Investment market on course to exceed last year’s €3bn https://m.independent.ie/business/commercial-property/investment-market-on-course-to-exceed-last-years-3bn-40263104.html

 

• State to invest €17m to create ‘European-style’ outdoor dining https://www.irishtimes.com/news/ireland/irish-news/state-to-invest-17m-to-create-european-style-outdoor-dining-1.4524394?mode=amp

 

• Strong jobs growth underpins office sector – Savills https://amp.rte.ie/amp/1207131/

 

• Over €1.2bn invested in Commercial real estate in first 3 months of 2021 https://www.businessworld.ie/news-from-ireland/Over-1-2bn-invested-in-Commercial-real-estate-in-first-3-months-of-2021-575155.html

 

• Office demand rebounds as employers place faith in vaccine rollout https://www.irishtimes.com/business/commercial-property/office-demand-rebounds-as-employers-place-faith-in-vaccine-rollout-1.4520993?mode=amp

 

• Five hotel sales in the first quarter point to increased activity in Ireland https://www.irishexaminer.com/business/economy/arid-40253105.html?type=amp

 

• German investor pays €95m for Dublin docklands office block: Munich-headquartered AM Alpha acquires 76 Sir John Rogerson’s Quay from TIO https://www.irishtimes.com/business/commercial-property/german-investor-pays-95m-for-dublin-docklands-office-block-1.4522815?mode=amp#.YGGf6eaPR1g.twitter

 

• TikTok dances into new Dublin office at Grand Canal Dock: The Chinese social media giant has chosen the Sorting Office at Grand Canal Dock to accommodate up to 2,000 workers, according to sources https://www.thetimes.co.uk/article/tiktok-new-dublin-office-grand-canal-dock-6cwvqxm2p

 

• US firm takes $2.1m hit on Dublin office: Software company MongoDB fails to find sub-tenant for Ballsbridge office https://m.independent.ie/business/commercial-property/us-firm-takes21m-hit-on-dublin-office-40269503.html

 

• Bond debt of Irish retail landlord Hammerson back in vogue after Covid-19 hit  https://www.irishexaminer.com/business/arid-40253711.html?type=amp

 

• One retail chain, multiple landlords: Foot Locker’s High Court case sets tone for wave of rent disputes – The Currency https://thecurrency.news/articles/41728/one-retail-chain-multiple-landlords-foot-lockers-high-court-case-sets-tone-for-wave-of-rent-disputes/

 

• Hewlett Packard Enterprise to establish European hub for cyber security operations in Galway https://galwaybayfm.ie/galway-bay-fm-news-desk/hewlett-packard-enterprise-to-establish-european-hub-for-cyber-security-operations-in-galway/

 

 

INTERNATIONAL PROPERTY NEWS

 

• Evolution of the House Plan in Europe: from the Industrial Revolution to the Interwar Period  https://www.archdaily.com/959373/evolution-of-the-house-plan-in-europe-from-the-industrial-revolution-to-the-interwar-period

 

• The Plight Of Office Will Mean A Flight To Quality Ushering Recovery https://www.bisnow.com/san-francisco/news/office/the-plight-of-office-will-mean-a-flight-to-quality-ushering-recovery-108286

 

• Common prequal system launches to save £1bn in paperwork https://www.constructionenquirer.com/2021/03/29/common-prequal-system-launches-to-save-1bn-in-paperwork/

 

• ‘People believed it’: the rise and fall of WeWork, a $47bn unicorn https://www.theguardian.com/film/2021/mar/31/wework-hulu-documentary-adam-neumann

 

 

FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS

Crowd-sourcing answers topical property questions:    

 

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

 

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

 

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