Weekly Irish property market news and insights – for the industry, by the industry  

Before we get stuck into the general property news of the week, below are the local and international stories that might be of particular interest: 

It was another brilliant and busy week for the Property District team this week, from Dublin to Dingle, then to Sallynoggin to Salthill. This week included innovations for facilities management and social housing delivery, interviewing Kate Fahey (19-year old tower crane operator), then sailing from ‘Darkness into Light’ on Galway Bay, learning how to sail a century-old Galway Hooker bád, culminating in RTE news crew joining us on the water as we assisted with the revival of Tóstal na Gaillimhe – traditional currach racing (https://www.rte.ie/news/regional/2023/0506/1381120-traditional-racing-currachs-return-to-galway-for-tostal/) – to celebrate the 70th anniversary of the original Tóstal! Well done to Katie Tallon and the Property District digital PR team for executing a masterful #TwitterTakeover and #TikTok campaign for the event, which resulted in lots of media coverage online, in print and on air. And we are not done yet – Day 2 of the festival is happening at Ladies’ Beach on Salthill Prom today from 1pm, please join us…

• Minister Donohoe chairs the inaugural meeting of the reconstituted Project Ireland 2040 Delivery Board. By doing so, the Minister is now taking a direct role in overseeing delivery of the €165 billion NDP https://www.gov.ie/en/press-release/d83cf-minister-donohoe-chairs-board-which-will-oversee-the-delivery-of-vital-public-projects/

• Spending on housing 32.5% lower than planned for first four months: Some €434m had been earmarked for spending on housing up until the end of April but just €293m of this was spent https://www.irishtimes.com/ireland/housing-planning/2023/05/03/spending-on-housing-325-lower-than-planned-for-first-four-months/

• House building sector calls on state to pause planning reform bill: Representative groups are now pushing the government to hold back amid concerns that the planning system will not be able to cope https://www.businesspost.ie/politics/house-building-sector-calls-on-state-to-pause-planning-reform-bill/

• ‘A fairer approach to land management’ – new residential tax to replace vacant site levy https://m.independent.ie/business/irish/a-fairer-approach-to-land-management-new-residential-tax-to-replace-vacant-site-levy/a1879763235.html

• Some farmers may get exemption from land hoarding tax: Actively farmed’ land set to be excluded as government faces growing rural backlash https://www.businesspost.ie/politics/some-farmers-may-get-exemption-from-land-hoarding-tax/

• Sharp drop in foreign investment in Irish property: A new report shows €625m of corporate property investment took place in the first quarter of this year, a drop of 18% on the same period last year https://www.irishexaminer.com/business/economy/arid-41128456.html

• Ireland in crisis: We need three task forces to address three major issues hurting the country: Addressing the changing structure of society and the economy, O’Sullivan argues that Ireland urgently needs to establish task forces for housing, demographics and energy. https://thecurrency.news/articles/116827/ireland-in-crisis-part-1-we-need-three-task-forces-to-address-three-major-issues-hurting-ireland/

• 10% rise in housing bodies last year saw almost 5,000 social and cost rental homes delivered: Affordable housing bodies produced 44% of new social housing delivered last year.  https://www.thejournal.ie/social-housing-ireland-2-6058509-May2023/

• Our cities are not museums. We must stop nimbys weaponising heritage laws to block affordable housing: https://www.theguardian.com/commentisfree/2023/may/07/our-cities-are-not-museums-we-must-stop-nimbys-weaponising-heritage-laws-to-block-affordable-housing

• Former High Court master appeals for big bang approach to housing crisis https://www.irishexaminer.com/news/arid-41129860.html

• Bill for Nama probe tops €5 million as further extension granted: The commission of investigation into the National Asset Management Agency was set up in 2017 to examine the controversial Project Eagle dealhttps://www.businesspost.ie/politics/bill-for-nama-probe-tops-e5-million-as-further-extension-granted/

• €64.7m worth of contracts given to 91 Ukrainian accommodation providers https://www.breakingnews.ie/ireland/e64-7m-worth-of-contracts-given-to-91-ukrainian-accommodation-providers-1470226.html

• Cabinet to discuss impact of housing Ukrainians on upcoming tourism season: Cabinet expects to hear of an EU-wide approach as it considers how accommodating refugees in hotels affects tourism providers https://www.irishexaminer.com/news/politics/arid-41131105.html

• Ireland Tax Agency Issues Guidance on Rent Tax Credit for Tax Years 2022-25 https://news.bloombergtax.com/daily-tax-report-international/ireland-tax-agency-issues-guidance-on-rent-tax-credit-for-tax-years-2022-25

• Paul McNeive: To fix the housing crisis, we need to make use of the IDA Ireland playbook https://m.independent.ie/business/commercial-property/paul-mcneive-to-fix-the-housing-crisis-we-need-to-make-use-of-the-ida-ireland-playbook/a892621142.html

• Cabin fever: A cheap, eco-friendly response to the housing crisis: Our anachronistic planning laws lag seriously behind European counterparts meaning we are missing out on a cheap and eco-friendly response to the housing crisis https://www.irishexaminer.com/news/spotlight/arid-41132161.html

• Women in construction: ‘I want to drive a digger for my granddaughter’ https://www.bbc.com/news/uk-northern-ireland-65454674.amp

• “It’s important to start reimagining how we reuse buildings”: People working in the built environment should prioritise the reuse of existing buildings and aim to increase the sustainability of concrete, said American architect Jeanne Gang https://www.dezeen.com/2023/05/03/jeanne-gang-interview/

• ‘It’s just mayhem’ – Dublin dog shelter overwhelmed with people giving up pets due to housing crisis  https://m.independent.ie/regionals/dublin/dublin-news/its-just-mayhem-dublin-dog-shelter-overwhelmed-with-people-giving-up-pets-due-to-housing-crisis/a649739956.html

• Regulators must react quickly to signs of trouble at banks: Bank failures are depressingly frequent, and to allow another global financial crash would be unconscionable and unforgivable https://www.businesspost.ie/analysis-opinion/regulators-must-react-quickly-to-signs-of-trouble-at-banks/

• ‘Godfather of AI’ quits Google with grave warning for future of humanity https://m.independent.ie/world-news/north-america/godfather-of-ai-quits-google-with-grave-warning-for-future-of-humanity/a1557954433.html

Darkness into Light 2023, on Salthill; Prom, Galway

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

As always, you might let me know if I have missed out on any relevant property news by emailing  carol@propertydistrict.ie.

(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)

SUNDAY LISTEN

We are excited to share the growth of iPropertyRadio! What started as #PropertyMatters, a 60-minute weekly show on Dublin South FM 93.9FM over 4 years ago, has now evolved into a global online station for the best construction, urban planning, property and proptech content. Check out our website, iPropertyRadio.com, brought to you by Hear Me Roar Media for live and recorded access to all the week’s built environment news. 

Want to have your industry podcast included or be a guest on our shows? Reach out to us at hello@ipropertyradio.com. Last year, we hit a massive 7.5 million digital impressions across our brands and this figure is growing – Q4 2022/Q1 2023 we now have an  average of 765,876 digital impressions each month, not including radio listenership and website visits. Huge thanks to all of you for your continued support!

This week on iPropertyRadio… 

#Property Roundup

This week on #PropertyRoundup, Roisin Cahill, CEO of Emerald Sage Property Buying Consultants joins host Carol Tallon to talk about her move from working full time in healthcare and project managing renovations on the side, to running a full time property buying consultancy. Covid has changed the landscape of communication so Emerald Sage are now helping people buy property in Ireland from anywhere in the world.

Emerald Sage takes the stress out of buying by helping people get value for money, offering independent advice and advocating for the buyer and attending viewings if prospective buyers aren’t in the country. Listen back to hear how you can get in touch for more information or a free consultation.

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

#Proptech Hot Seat

Tom Shrive, CEO and Ben Yexley, Head of Business Development for askporter, an AI messaging platform that optimises property & facilities management, reducing admin and the cost of management. They both join to talk about how askporter utilises AI to improve occupier experience by automating the heavy lifting needed to manage assets so that individuals can focus on the bigger picture.

askporter is designed specifically for property and facilities management and has the market context to guide operators through unique challenges and pressures that come from managing physical assets. It also minimises errors and inefficiencies.

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

#BreakingGround

Watch back and listen back: https://ipropertyradio.com/shows/

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Digital Placemaking Tools for Public Consultation & Community Engagement | PLACEengage https://placeengage.com/digital-placemaking-tools-for-public-consultation-community-engagement/

• Views sought on new plan to tackle waste in Ireland: National Waste Management Plan for a Circular Economy 2023-2029 https://www.westmeathexaminer.ie/2023/05/03/views-sought-on-new-plan-to-tackle-waste-in-ireland/

• Locals object to alcohol licence for gigs at Malahide Castle next month: A number of gigs are set to take place in Malahide from 14 to 30 June.https://www.thejournal.ie/locals-object-alcohol-licence-gigs-malahide-castle-6059043-May2023/

• Údarás to proceed with new planning application for marine park at Cill Chiaráin https://galwaybayfm.ie/galway-bay-fm-news-desk/udaras-to-proceed-with-new-planning-application-for-marine-park-at-cill-chiarain/

• County Council urged to purchase derelict buildings in Headford for community use https://connachttribune.ie/county-council-urged-to-purchase-derelict-buildings-in-headford-for-community-use/

• Refusal for childcare facility in Clifden https://connachttribune.ie/refusal-for-childcare-facility-in-clifden/

• Seanad hears concerns over Maree section of Athlone to Galway Greenway https://connachttribune.ie/seanad-hears-concerns-over-maree-section-of-athlone-to-galway-greenway/

• Bruce Springsteen leads singalong at rural Irish pub as he traces roots in ancestral town: The Boss kicks off his shows in Ireland today – but some locals got a much more intimate performance last night https://www.irishstar.com/news/ireland-news/bruce-springsteen-leads-singalong-rural-29899873

• Rock of Dunamase is a once-mighty medieval fortress just off the motorway: From Strongbow to Parnell to disrepair — the Rock of Dunamase is crumbling but still worth exploringhttps://www.irishexaminer.com/lifestyle/outdoors/arid-41129701.html

• Longford Heritage project looks to the future by restoring the past https://www.longfordleader.ie/news/longfordleader/1157174/longford-heritage-project-looks-to-the-future-by-restoring-the-past.html

• Public meeting urged to discuss future of Carrick-on-Shannon town hall: County Council has identified a potential buyer of listed building https://www.irishtimes.com/ireland/2023/05/01/public-meeting-urged-to-discuss-future-of-carrick-on-shannon-town-hall/

• ‘If it isn’t renewed, it will die’: Festival aims to rekindle interest in traditional Irish skills – Exhibition will tell the stories of the basket weavers, grafters, embroiderers, knitters and other Irish crafters whose skills are in danger of dying out https://www.irishtimes.com/life-style/people/2023/05/06/if-it-isnt-renewed-it-will-die-festival-aims-to-rekindle-interest-in-traditional-irish-skills/

CONSTRUCTION & DEVELOPMENT NEWS

• Two-thirds of developers expect pace of new home delivery to fall this year: Of house builders, 33% say it now takes between seven and 12 months to secure planning permission, according to estate agent Knight Frank survey https://www.irishtimes.com/property/commercial-property/2023/05/03/two-thirds-of-developers-expect-pace-of-new-home-delivery-to-fall-this-year/

• Construction cost review finds it costs less to build the same house in Birmingham as in Dublin: The study going to Cabinet today carried out a comparative study across four cities and Dublin. https://www.thejournal.ie/construction-cost-review-cabinet-6059128-May2023/

• Is there a market for apartments for sale or rent with no kitchen or wardrobes? Govt told to find out: Government told to undertake market research on whether renters or buyers would be open to properties with pared back finishes. https://www.thejournal.ie/apartments-no-kitchen-wardrobes-sale-or-rent-6060099-May2023/

• CIOB issues warning – Embrace social value or get left behind; Social value is already embedded in public sector procurement and likely to become more influential in private sector: SMEs who can’t demonstrate social value will miss out on Tier 1 contracts https://www.politicshome.com/members/article/ciob-issues-warning-construction-smes-embrace-social-value-get-left-behind

• Cabinteely lands with scope for 118 new homes guiding at €5m: Four acres at landmark Johnstown House in south Dublin are zoned for residential development https://www.irishtimes.com/property/commercial-property/2023/05/03/cabinteely-lands-with-scope-for-118-new-homes-on-sale-for-5m/

• Residential development lands for sale in Rathmichael: Savills is guiding €1.5 million for the 3.90-acre property, located in the affluent South County Dublin suburb just north of Bray and south of Shankill https://www.businesspost.ie/property/residential-development-lands-for-sale-in-rathmichael/

• IDA spends hundreds of millions buying and developing ‘strategic’ sites outside Dublin: Inward investment agency now one of biggest players in property market amid concern about shortage of housing for workers and pressure on power supplies https://www.irishtimes.com/business/2023/05/02/ida-injects-hundreds-of-millions-into-strategic-sites-outside-dublin/

• South Dublin site offers potential for 3.9-acre residential project https://m.independent.ie/business/commercial-property/south-dublin-site-offers-potential-for-39-acre-residential-project/a1695660872.html

• prizeotel Dublin: Radisson Hotel Group’s midscale lifestyle brand, prizeotel, announces first property in Ireland – Scheduled for Q1 2025 https://www.hospitalitynet.org/announcement/41009490.html

• Modular housing being held up by site issues, warns state architect: A number of rapid-build homes are being constructed at sites across the country to house Ukrainian refugees. https://www.thejournal.ie/modular-housing-being-held-up-by-site-issues-6058458-May2023/

• €100m plan for East Cork outlet centre ‘back on track’ yet again: Managing director of British-based Rioja Estates Giles Membrey said his company has reactivated the plan it first mooted 36 months ago for the Tourist Outlet Village (TOV) in Carrigtwohill https://www.irishexaminer.com/news/munster/arid-41130925.html

• 21 new Cork city centre apartments refused as they’d be ‘overbearing’: The apartment block was specifically designed to cater for an ageing population, and was planned for a site that has sat empty for years https://www.corkbeo.ie/news/local-news/21-new-cork-city-centre-26833041

• Permission sought to change the use of student accommodation development in Cork City: The student apartment complex, built in 2004, consists of 48 apartments in two four-storey blocks https://www.echolive.ie/corknews/arid-41131681.html

• Just 21 affordable homes built in Galway last year https://connachttribune.ie/just-21-affordable-homes-built-in-galway-last-year/

• Planning permission sought for 70 new homes in Gort https://galwaybayfm.ie/galway-bay-fm-news-desk/planning-permission-sought-for-70-new-homes-in-gort/

• Site with permission for 114-bed hotel in Kilkenny hits the market for €3,750,000 https://www.kilkennypeople.ie/news/kilkenny-city/1159974/site-with-permission-for-114-bed-hotel-in-kilkenny-hits-the-market-for-3-750-000.html

• Diageo’s new Ireland brewery ‘stalls amid planning appeal’: Local resident has reportedly lodged an appeal on environmental grounds. https://www.just-drinks.com/news/diageo-new-ireland-brewery-stalls-amid-planning-appeal/

• Athlone’s largest residential scheme could begin this year https://www.westmeathindependent.ie/2023/05/05/athlones-largest-residential-scheme-could-begin-this-year/

• Planning sought for €39m development in Drogheda that will deliver 200 new homes: Sionna Homes seeking permission on Boyne Road site. https://m.independent.ie/regionals/louth/drogheda-news/planning-sought-for-39m-development-in-drogheda-that-will-deliver-200-new-homes/a566683367.html

• Kingspan accuses US trade union of ‘distorting facts’ amid labour dispute: Smart, a sheet mental workers union, has been writing to architects and designers on a number of projects over the last two years to express their concerns about Kingspan and its products https://www.businesspost.ie/news/kingspan-accuses-us-trade-union-of-distorting-facts-amid-labour-dispute/

• Grafton Group maintains operating profit guidance: Building group plans new share buyback https://www.irishtimes.com/business/2023/05/04/grafton-group-maintains-operating-profit-guidance/

• Atlantic Technological University Sligo presents 10 design projects https://www.dezeen.com/2023/05/02/atlantic-technological-university-sligo-design-architecture-projects-dezeen-schoolshows/

• High Court appoints provisional liquidator to two firms in SIAC construction group: The two firms employ about 100 people, with insufficient cash to pay them https://www.irishtimes.com/business/2023/05/03/high-court-appoints-provisional-liquidator-to-two-firms-in-siac-construction-group/

• Irish home and office building help boost revenue at Woodie’s DIY owner https://m.independent.ie/business/irish/irish-home-and-office-building-help-boost-revenue-at-woodies-diy-owner/a451639552.html

• The €100m club – Ireland’s top 30 executives enjoy bumper pay packets: Business Post analysis shows that chief executive packages at listed companies grew by 4 per cent last year https://www.businesspost.ie/news-focus/the-e100m-club-irelands-top-30-executives-enjoy-bumper-pay-packets/

PROPTECH, ESG, MMC & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2023 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech  or MMC business sit?  Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *https://prop-tech.ie/register/ * and email product or service details to hello@prop-tech.ie

• Proptech Ireland: Ireland’s CONSTRUCTION and REAL ESTATE ESG technologies resource hub. Confused about how and where to start on your ESG journey? Contact us 👉https://prop-tech.ie

• Elkstone raises €5m in strategic capital to grow business in Ireland: Investment house plans to target growth in Northern Ireland as well as in its regional offices around the country https://www.irishtimes.com/business/2023/05/04/elkstone-raises-5m-in-strategic-capital-to-grow-business-in-ireland/

• HP’s site printing robot, first launched in the US last year, is now available in the UK and Ireland , extending the Early Access Programme https://constructionmanagement.co.uk/hps-site-printing-robot-now-available-in-uk/

• How PropTech Can Help Soothe Recessionary Fears  https://www.forbes.com/sites/forbestechcouncil/2023/05/05/how-proptech-can-help-soothe-recessionary-fears/amp/

• VCs overestimated how fast proptech startups could scale, says one longtime real estate investor: Commercial real estate is having a tough year—and startups catering to the sector need to reevaluate, says one VC. https://fortune.com/2023/05/05/vc-overestimated-how-fast-proptech-startups-could-scale/amp/

• Putting the Tech Back in Proptech- While VCs have flocked to proptech in recent years, we think few have segmented the category correctly. https://medium.com/lightspeed-venture-partners/putting-the-tech-back-in-proptech-98a65df43248

• Proptech Startup Storage360 Unveils Self-Storage SaaS  https://www.globest.com/2023/05/04/proptech-startup-storage360-unveils-self-storage-saas/?amp=1

• Proptech and Office Space Management – While many companies are still unsure about what to do with their empty office space, new proptech options are emerging to help manage employee its use.https://www.commercialsearch.com/news/proptech-and-office-space-management/

• Proptech firms struggle to fundraise: Cadre among real estate tech ventures trying to hang on https://therealdeal.com/national/2023/05/03/real-estate-tech-startups-struggle-to-fundraise/

• Proptech startup Dottid launches all-in-one asset platform for CRE https://connectedremag.com/uncategorized/proptech-startup-dottid-launches-all-in-one-asset-platform-for-cre/

ENERGY, CLIMATE & ENVIRONMENT

• Can timber-framed homes using Irish timber be part of solution to reduce carbon emissions? ‘80 per cent of Irish timber is exported to other countries (mainly England) where much of it is used in timber framed buildings,’ construction expert says https://www.irishtimes.com/environment/climate-crisis/2023/05/04/can-timber-framed-homes-using-irish-timber-be-part-of-solution-to-reduce-carbon-emissions/

• Irish auction set to be world’s most expensive for offshore wind energy: The price tag is expected to be close to €150 per megawatt hour, which is three times more expensive than the latest sale in Scotland and far higher than other European countries https://www.businesspost.ie/news/irish-auction-set-to-be-worlds-most-expensive-for-offshore-wind-energy/

• Energy firm that owes €250m to investors files High Court proceedings: Solar 21, which has been delayed repaying 3,000 Irish investors in its first energy-from-waste plant, has filed as part of an attempt to approve a scheme it says could repay 80 per cent of the funding https://www.businesspost.ie/news/energy-firm-that-owes-e250m-to-investors-files-high-court-proceedings/

RESIDENTIAL PROPERTY NEWS (including PRS)

• Ires Reit: The company’s board say it has outperformed many of its peers, yet many shareholders are frustrated with the share price and dividends and want to sell it into private ownership https://www.businesspost.ie/analysis-opinion/donal-macnamee-disgruntled-investors-let-rip-at-underperforming-ires-reit-board/

• FactCheck: Is the Govt correct to claim that 400 people are buying their first home every week? In 2022, just under a third of recorded home purchases were by first-time buyers https://www.thejournal.ie/are-400-people-are-buying-their-first-home-every-week-in-ireland-6058333-May2023/

• How to buy a first home that won’t break the bank: With mortgage restrictions easing and landlords selling up, it is getting easier for first-time buyers to find a home https://www.irishtimes.com/property/residential/2023/05/04/how-to-buy-a-first-home-that-wont-break-the-bank/

• ‘Renting out your home while in nursing care could end up costing your loved-ones a fortune,’ Fair Deal expert warns: Consultant made comments following Government move to exempt rental income from scheme contributions https://m.independent.ie/irish-news/renting-out-your-home-while-in-nursing-care-could-end-up-costing-your-loved-ones-a-fortune-fair-deal-expert-warns/a703577810.html

• Reuben House aparthotel plan rejected after enforcement notice issued to landlord https://m.independent.ie/regionals/dublin/dublin-news/reuben-house-aparthotel-plan-rejected-after-enforcement-notice-issued-to-landlord/a383987912.html

• Council tenants allowed rent out rooms for up to €14,000 a year tax-free https://m.independent.ie/irish-news/council-tenants-allowed-rent-out-rooms-for-up-to-14000-a-year-tax-free/a1925403909.html

• Airbnb goes back to basics with renewed focus on private room rentals: New features on app to encourage travellers to consider renting single rooms rather than whole properties https://www.theguardian.com/technology/2023/may/03/airbnb-renew-focus-private-room-rentals

• Properties let to local authority among lots for sale in BidX1’s €22m auction: Apartments and houses let to council in Waterford will appeal to investors seeking long-term, inflation-linked investment returns https://www.businesspost.ie/property/properties-let-to-local-authority-among-lots-for-sale-in-bidx1s-e22m-auction/

• A partner in an accountancy practice – who also owns 14 rental properties here – has lost his €1.584 million income tax battle with the Revenue Commissioners. https://www.breakingnews.ie/amp/ireland/chartered-accountant-and-property-owner-loses-e1-5-million-tax-row-with-revenue-1470088.html

• Help Me Buy a Home: ‘I feel like I’m a 27-year-old teenager sometimes: The real star of Virgin Media’s new series about the property crisis is buyer’s agent Liz O’Kane  https://www.irishtimes.com/culture/tv-radio/2023/04/30/help-me-buy-a-home-i-feel-like-im-a-27-year-old-teenager-sometimes/

• Supermac’s owner must provide staff accommodation to attract employees: Lack of available housing is hindering hospitality sector recruitment, says Pat McDonagh https://www.businesspost.ie/news/supermacs-owner-must-provide-staff-accommodation-to-attract-employees/

• What are our options when neighbours build without planning permission?Q&A: Enforcement action is the responsibility of local authority but make sure everything is in writing and in the format required https://www.irishtimes.com/your-money/2023/04/30/what-are-our-options-when-neighbours-build-without-planning-permission/

• City Council anticipates a ‘substantial’ hike in drawdown of adaptation grants: The announcement comes after The Echo reported that over half a million euro worth of grants was not drawn down by the council last year. https://www.echolive.ie/corknews/arid-41133010.html

• When its owners first came across the site, it was hidden down a laneway and had a half-built house on it, but it has been transformed into a stylish home. https://www.image.ie/living/this-dublin-home-from-home-of-the-year-has-a-wonderfully-relaxed-bohemian-style-743105

• Concern over possible ‘sinkhole’ in housing estate in Kilkenny https://www.kilkennypeople.ie/news/kilkenny-city/1160309/concern-over-possible-sinkhole-in-housing-estate-in-kilkenny.html

• Limerick council steps up compulsory acquisition of derelict properties https://www.limerickpost.ie/2023/05/04/limerick-council-steps-up-compulsory-acquisition-of-derelict-properties/

• There’s more and more on offer at Kinsale’s €1.8m Leighmoney More House:Early 1900s overhauled home by River Bandon at Dunderrow is top-spec, with over 4,800 sq ft and a detached, lofted garage https://www.irishexaminer.com/property/residential/arid-41132305.html

• Built in the 1930’s, Lisheen Ban Cottage was originally home to a local fisherman and his family. This home is perfect for a family with ties to the ocean or for those who simply cannot get enough of Ireland’s picturesque west coast. https://www.irishrealestate.news/ultimate-irish-holiday-retreat-which-doubles-as-a-smart-investment/

• Characterful Irish homes could be making money by opening up as filming locations: Ireland’s only location scouting platform is proving a nice little earner for anyone that owns a characterful home. Róisín Healy meets the women who set it up https://www.thetimes.co.uk/article/characterful-irish-homes-could-be-making-money-by-opening-up-as-filming-locations-zfskqmhvl

COMMERCIAL PROPERTY NEWS

• Irish commercial investment property values fell by an average of 3.2pc in the first quarter of this year according to the authoritative MSCI benchmark published in conjunction with the Society of Chartered Surveyors Ireland. A welcome aspect of the index is the slow down compared with the 4.5pc pace of decline in the previous quarter and this curtailed the annualised rate of decline to single digits at 9.4pc. https://m.independent.ie/business/commercial-property/pace-of-property-value-decline-slows-to-32pc-in-first-quarter/a316738980.html

• French investor buys pair of Blackrock offices for €13m https://m.independent.ie/business/commercial-property/french-investor-buys-pair-of-blackrock-offices-for-13m/a1981876424.html

• Landmark investment in the heart of Dublin’s IFSC seeks €2.9m: Built originally in 1821, the Excise Building is fully let and producing total rental income of €174,500 annually https://www.irishtimes.com/property/commercial-property/2023/05/03/landmark-investment-in-the-heart-of-dublins-ifsc-guiding-at-29m/

• Multi-let investment opportunity with annual income of €3.77m on the market: The Arena Centre in Dublin 24 has a diverse mix of office, retail and hotel tenants and is guiding €45 million https://www.businesspost.ie/property/multi-let-investment-opportunity-with-annual-income-of-e3-77m-on-the-market/

• Anantara Hotels, Resorts and Spas will finally open its first Irish property, with the long-awaited rebranding of The Marker hotel in Dublin. https://www.businesstraveller.com/business-travel/2023/05/04/anantara-debuts-in-ireland-with-dublin-property/

• Private investor purchases two industrial units in well-established location: Units 1 and 2 at Roseville Industrial Park, Turvey Park, Donabate, Co Dublin offer prospective tenants an established industrial location just off the M1 https://www.businesspost.ie/property/private-investor-purchases-two-industrial-units-in-well-established-location/

• Greystones home of Donnybrook Fair with residential rentals for €3.4m: Grattan Court generates €191,500 per annum in rental income from retail space and own-door apartments https://www.irishtimes.com/property/commercial-property/2023/05/03/greystones-home-of-donnybrook-fair-with-residential-rentals-for-34m/

• Cork village pub that’s ‘cornerstone of community’ looking for someone to take over: The pub comes with a ‘wealth of happy memories and history’ https://www.corkbeo.ie/news/property/cork-village-pub-thats-cornerstone-26858955

• Another huge medtech win for Galway: Enterprise Minister says the decision by Dexcom to locate in Athenry is a big endorsement https://galwaybayfm.ie/galway-bay-fm-news-desk/enterprise-minister-says-the-decision-by-dexcom-to-locate-in-athenry-is-a-big-endorsement/

INTERNATIONAL PROPERTY NEWS

• As bad as Dublin? In Berlin’s broken rental market, 200 people apply for one apartment: In Germany’s second most expensive rental market, the city has a solution, but will it work? https://www.irishtimes.com/property/residential/2023/05/07/its-not-just-dublin-200-people-apply-for-just-one-apartment-in-berlins-broken-rental-market/

• 2023 UK industry recession to be deeper than first forecast https://www.constructionenquirer.com/2023/05/02/2023-industry-recession-to-be-deeper-than-first-forecast/

• Major housebuilder axes 450 jobs amid housing slowdown  https://propertyindustryeye.com/major-housebuilder-axes-450-jobs-amid-housing-slowdown/

• Rent in Australian capital cities climbs record 11.7% in 12 months: Increase equivalent to $3,200 a year for tenants, with relief ‘unlikely’ in the short term as demand continues to outstrip supply https://www.theguardian.com/australia-news/2023/may/03/rent-in-australian-capital-cities-climbs-record-117-in-12-months

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/