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: 

 

• 🚴 PLACEengage  is delighted to sponsor the ‘John Behan Memorial Cycle’ in  An Cheathru Rua, Connemara, 16th September 2023. I know we have lots of cycling enthusiasts in the industry so details of the planned routes (110 km and 65 km) and how to get involved are on the Club Rothaíochta Chonamara page 👉https://www.facebook.com/CRChonamara   Bígí linn!

 

• Rise in deaths of Dublin homeless labelled a humanitarian crisis  https://www.thetimes.co.uk/article/rise-in-deaths-of-dublin-homeless-labelled-a-humanitarian-crisis-brxwbdzqq

 

• Bonkers bureaucracy: landmark’s tragic decline, light on the Spire, council’s staff shortage: The Business Post takes aim at the macro and micro inefficiencies and inconsistencies in administration that are holding Ireland back https://www.businesspost.ie/news-focus/bonkers-bureaucracy-landmarks-tragic-decline-light-on-the-spire-councils-staff-shortage/

 

• Ireland risks becoming complacent about the need for fresh foreign direct investment: Housing, sustainable energy and water infrastructures, and the planning system all need to be addressed if the State is to continue to attract multinationals https://www.irishtimes.com/business/2023/08/07/ireland-risks-becoming-complacent-about-the-need-for-fresh-foreign-direct-investment/ Also: Corporate tax plans will scare off global investors, US firms warn: American Chamber of Commerce has called for the government to urgently refine new corporate tax rules that it says could double taxation for US multinationals https://www.businesspost.ie/news/corporate-tax-plans-will-scare-off-global-investors-us-firms-warn/ 

 

• Ireland is leading the charge in terms of how rapidly remote working is taking the place of traditional office-based work, according to analysis of Eurostat data by BNP Paribas Real Estate https://www.rte.ie/news/business/2023/0808/1398571-ireland-tops-eu-poll-for-working-from-home-growth/

 

• Minister Humphreys launches new Statement of Strategy for the Department of Rural and Community Development https://www.gov.ie/en/press-release/613cc-minister-humphreys-launches-new-statement-of-strategy-for-the-department-of-rural-and-community-development/ 

 

• Renter’s tax credit could be increased to almost €800 per person: “Rent is crippling people and while this is welcome, it is not enough … we need something much more radical if we want to actually help the current generation who are stuck in rent” https://iradio.ie/rent-tax-credit/

 

• Hint of rent tax credit increase in Budget 2024 but majority of renters haven’t claimed last year’s – Around 10 per cent of renters registered with the Residential Tenancies Board have claimed the tax credit https://www.buzz.ie/news/politics/rent-tax-credit-increase-budget-30665457.amp

 

• Raising Ireland’s property tax is the best option https://www.thetimes.co.uk/article/raising-irelands-property-tax-is-the-best-option-63g9zww6c

 

• Offering campus accommodation to tourists is proving profitable for universities https://www.breakingnews.ie/ireland/offering-campus-accommodation-to-tourists-is-proving-profitable-for-universities-1492702.html

 

• ‘Flotels’ for asylum seekers to be progressed by Government  https://www.irishexaminer.com/news/arid-41201530.html

 

• CCPC extends probe of DAA’s plan to buy former QuickPark car park site near Dublin Airport https://www.rte.ie/news/business/2023/0809/1398945-ccpc-extends-probe-of-daas-plan-to-buy-car-park-site/

 

• The owner of the scenic Conor Pass has urged the Government to make a ‘concrete offer’ for the estate as he claims a private bidder has submitted an offer for the land. https://extra.ie/2023/08/11/property/conor-pass-calls-out-state

 

• Savills reports ‘significant’ drop in Irish revenues as group profits plummet: Rising interest rates are hitting the global property market https://www.irishtimes.com/business/2023/08/10/savills-reports-significant-drop-in-irish-revenues-as-group-profits-plummet/

 

• About 40 shops in Dublin city area have stopped selling newspapers: The Convenience Stores and Newsagents Association of Ireland wants reform of how papers are sold. https://www.thejournal.ie/newspaper-sales-ireland-2-6134929-Aug2023/

 

• Majority of Irish firms planning global expansion, Stripe survey finds https://m.independent.ie/business/technology/majority-of-irish-firms-planning-global-expansion-stripe-survey-finds/a432731460.html

 

• Refurbished eco-bus Airbnb makes for fab getaway less than 2 hours outside Cork City: ‘Dervla’ was a passion-project filled with learning curves https://www.corkbeo.ie/news/refurbished-eco-bus-airbnb-makes-27489068

 

• Berlin divided as tenant activists push for government to buy back housing from corporate landlords: Sell-off of apartments in German capital two decades ago could be reversed for some with corporate landlords holding 3,000-plus unitshttps://www.irishtimes.com/world/europe/2023/08/10/green-light-for-property-buy-backs-divides-berlin/

 

*Reminder that the Property District offices in Dublin and Galway will close on Wednesdays for July and August as we let our creative talent run wild – you are welcome  to join us for #WildWednesday, details here: https://propertydistrict.ie/wildwednesday-challenging-techies-to-disconnect-and-creatives-to-reconnect/ 

 

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. 

Do you 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 – in June 2023, for the first time since we emerged from the pandemic lockdown, monthly ORGANIC digital impressions across Property District’s owned construction and real estate brands exceeded one million (*1,009,883*) – up from a monthly average of 765,876 in Q1! Huge thanks to all of you for your continued support!

Be sure to subscribe to the podcast and check out all of the other real estate and construction shows on  https://ipropertyradio.com/shows/

This week on iPropertyRadio… 

#Property Roundup

On #PropertyRoundup on iProperty Radio this week I had the opportunity to chat John Foley and Emma O’ Donoghue, Directors at Lifesize Plans Leinster,  about bringing home plans to life in scale.

John and Emma give an overview of the offering and how it can benefit clients (from self-builders and residential developers, right through to landscape architects or State agencies). Lifesize Plans originally started out in Australia, however, John and Emma brought the franchise into the Irish market –  something we needed – and they have big plans for nationwide expansion.

Listening to Emma talk about the different clients they have, there is no restriction and this technology is open to everyone, from renovators to off-plan developers. 

*Pop along to their Dublin 10 facility OPEN DAY on Saturday 19th August 2023 from 10am to 4pm to learn more!

Listen back for more information or check out their website here: https://www.lifesizeplans.com/locations/leinster

 

*Property Roundup is sponsored by Ireland’s Property District, your industry communications partner: https://propertydistrict.ie*

Produced by Katie Tallon MPRII, with Hear Me Roar Media on sound https://hearmeroarmedia.com 

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

 

 

#Proptech Hot Seat

In the iPropertyRadio.com Proptech Hot Seat with host Carol Tallon this week is Sean Lyons, Vice President of Business Development with ility. Sean gives an overview of ility and his own journey through real estate and proptech. ility brings a customer centric shift to the world of real estate that adds value and retains customers. Sean discusses data and technology’s role within customer-centric real estate and gives us some real life examples and case studies of ility in action! 

Listen back to the full interview to hear about what the future holds for ility in terms of new projects developments. 

*Proptech Hot seat is sponsored by Proptech Ireland, the hub for innovators, investors and industry leaders.*

 

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

 

NEWSTALK

Pat Kenny Show: Hiking Rent Tax Credit to €800 ‘not near enough’ – The CEO of Property District said “rent at the moment is crippling people.” 

https://www.newstalk.com/news/housing-crisis-hiking-rent-tax-credit-to-e800-not-near-enough-1495008

 

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Céard é Comhfhorbairt Áite? “Teastaíonn dea-áitíocht saineolaithe ildisciplíneacha freagraí a chur ar fáil, ach tugann áitíocht maith guth don phobal chun na ceisteanna cearta a chur ar bun.” 👉https://placeengage.com/ceard-e-comhfhorbairt-aite/ 

 

 

• O’Connell Street, Dublin: Will new developments make it better or worse? The Clerys Quarter should help regenerate the street. But could the building of MetroLink have the opposite effect? https://www.irishtimes.com/life-style/2023/08/12/oconnell-street-dublin-will-new-developments-make-it-better-or-worse/

 

• Colbert Station Quarter: Sustainable Communities and Placemaking: We are delighted to announce the new Colbert Quarter – a potentially transformative placemaking project that Property District/PLACEengage were delighted to be involved in – has been nominated in the ‘Sustainable Communities and Placemaking’ category for the Irish Planning Awards 2023! https://placeengage.com/colbert-station-quarter-sustainable-communities-and-placemaking/

 

• State and local government have failed to deliver urban spaces that feel functional or comfortable: In Dublin rough, transitional parts of town get rough, unsympathetic treatment from the authorities https://www.irishtimes.com/culture/2023/08/05/a-dispiriting-failure-of-planning-and-imagination/

 

• Heritage groups urge State to buy last great Georgian mansion built in Dublin: Call comes as permission expires for Aldborough House office redevelopment https://www.irishtimes.com/ireland/dublin/2023/08/07/heritage-groups-urge-state-to-buy-last-great-georgian-mansion-built-in-dublin/

 

• Owners of derelict buildings in Cork ‘holding the regeneration of towns and villages to ransom’: Following on from our dereliction series on Munster counties back in August 2021, Neil Michael revisits some towns in Cork to see if any progress has been made https://www.irishexaminer.com/news/spotlight/arid-41199913.html

 

• Planning row between company owned by Cork businessman Noel C Duggan and local residents in Millstreet – Planner claimed the company’s response about the use of any painting process in the manufacture of steel was “disingenuous” https://www.irishexaminer.com/property/developmentconstruction/arid-41202214.html

 

• Town Centre First Regeneration Plan For Skibbereen https://www.corkcoco.ie/en/news/town-centre-first-regeneration-plan-for-skibbereen

 

• Galway highlighted as secondary city competing with global “superstar capitals” https://galwaybayfm.ie/galway-bay-fm-news-desk/galway-highlighted-as-secondary-city-competing-with-global-superstar-capitals/

 

• Connemara: “Land to food, food to people, people to tradition. I’ve never been in a place where they are all so interconnected.” https://www.galwaybeo.ie/news/famous-star-shines-galway-area-8666412

 

• Galway to Dublin Greenway comes a step closer with new Athlone section https://connachttribune.ie/galway-to-dublin-greenway-comes-a-step-closer-with-new-athlone-section/

 

• Celebrations in Athlone as Greenway Bridge over Shannon officially opened https://www.shannonside.ie/news/celebrations-in-athlone-as-greenway-bridge-over-shannon-officially-opened-227827

 

• Tullamore Urban Greenway project moving forward https://www.offalyindependent.ie/2023/08/11/tullamore-urban-greenway-project-moving-forward/

 

• LANDMARK building in Limerick city centre is to become a theatre rehearsal space https://www.limerickleader.ie/news/home/1263149/landmark-former-clothes-mill-in-limerick-set-for-new-lease-of-life.html

 

• Farmers’ Alliance to bring rural voices back into Irish politics https://donegalnews.com/farmers-alliance-to-bring-rural-voices-back-into-irish-politics/

 

• ‘Positive news’ as date set to begin Baltinglass town centre upgrades https://m.independent.ie/regionals/wicklow/west-wicklow-news/positive-news-as-date-set-to-begin-baltinglass-town-centre-upgrades/a1568055567.html

 

• Information event on Local Area Plan for Tipperary’s largest town: Submissions may be made until September 11 https://www.tipperarylive.ie/news/home/1263153/information-event-on-local-area-plan-for-tipperary-s-largest-town.html

 

• ‘Nothing has changed’ — Moves to tackle dereliction in Tipperary ‘could move a lot faster’: Clonmel’s town centre still suffers from ‘an abdication of responsibility’ two years after our series on dereliction https://www.irishexaminer.com/news/spotlight/arid-41202583.html

 

• Workshop about the river Sligo town was built on https://m.independent.ie/regionals/sligo/news/workshop-about-the-river-sligo-town-was-built-on/a1894489373.html

 

 

 

• Leitrim’s ‘stairway to heaven’ gets upgrade in bid to lure tourists – Pathway up to O’Rourke’s Table reopens with plans to renew tradition of mountain-top ‘hooley’ https://www.irishtimes.com/ireland/2023/08/08/leitrims-stairway-to-heaven-gets-upgrade-in-bid-to-lure-tourists/

 

• Joyce Country and Western Lakes Geopark moves a step closer to UNESCO status https://galwaybayfm.ie/galway-bay-fm-news-desk/joyce-country-and-western-lakes-geopark-moves-a-step-closer-to-unesco-status/

 

• Dereliction: Kerry ‘lagging behind’ but greenways give grounds for optimism – Neil Michael travels to three Kerry towns and assesses their efforts to reinvigorate their streetscapes https://www.irishexaminer.com/news/spotlight/arid-41200435.html

 

CONSTRUCTION, MMC & DEVELOPMENT NEWS

• ‘Ireland’s New MMC Champion’: Ireland’s MMC sector has seen capacity expand significantly following a series of exciting announcements from www.MMCIreland.ie members over the past 12 months. Irish Construction News/Constructionnews.ie sits down with the industry representative body’s CEO, Paul Tierney, to understand Ireland’s scaling MMC ecosystem, what lessons can be learned from other jurisdictions, and how the State can facilitate the industry in speeding up the delivery of vital new homes, schools, healthcare buildings, and other important infrastructure. Read in full here 👉https://constructionnews.ie/mmc-ireland-paul-tierney/

 

• Housing units under construction in Dublin fell in first quarter: Slight drop came as number of planned units grew by almost one fifth https://www.irishtimes.com/business/2023/08/11/housing-units-under-construction-in-dublin-fell-in-first-quarter/ Also: Planning permission surges 20pc in Dublin but construction of new homes is falling – Figures show that there is still planning permission in place for almost 50,000 apartments at which construction work has not commenced. https://m.independent.ie/business/planning-permission-surges-20pc-in-dublin-but-construction-of-new-homes-is-falling/a205303161.html

 

• Over 80% of uncommenced housing developments in Dublin have no barrier preventing construction https://www.irishexaminer.com/news/arid-41203639.html

 

• Inflation across Europe is expected to cool significantly this year, with an average forecast of 6.4% for 2023 over the 16 European regions surveyed – down from 12.7% in 2022. Dublin’s is forecast to be lower than the average, at 5%, though still higher than targets, according to the latest construction report from Turner & Townsend https://constructionnews.ie/turner-and-townsend-icms-june/ 

 

• One in four construction workers ‘identify as neurodiverse’ https://www.constructionnews.co.uk/health-and-safety/mind-matters/one-in-four-construction-workers-identify-as-neurodiverse-08-08-2023/

 

• Apprentices to show off skills on a world stage https://www.anglocelt.ie/2023/08/12/apprentices-to-show-off-skills-on-a-world-stage/

 

• Ukrainian refugees living in their new modular homes in Sligo have expressed their thanks to the State for making them feel safer being away from the war https://m.independent.ie/regionals/sligo/news/ukrainian-families-thankful-for-the-safety-of-their-new-modular-homes-in-sligo/a1380000419.html

 

• Sport Ireland to spend €20m on consultants for development of campus: Sports body seeking five lots of consultancy services to support development of its campus in Blanchardstown in West Dublin https://www.irishexaminer.com/news/politics/arid-41200303.html

 

• Aviva expands underwriting appetite to include engineered timber for commercial buildings https://www.aviva.com/newsroom/news-releases/2023/08/aviva-expands-underwriting-appetite-to-include-engineered-timber-for-commercial-buildings/

 

• PLANS for two adjoining data centres in Lucan have been refused permission due to “insufficient capacity” in the electricity grid network. The planning application by EdgeConneX Ireland Limited was submitted last May https://www.echo.ie/data-centres-refused-planning-due-to-insufficient-capacity/

 

• Dublin City Council signs off on 636-home south Dublin scheme despite local opposition: Council has granted planning permission for €300m ‘buy-to-sell’ apartment scheme near Milltown https://www.irishtimes.com/business/2023/08/11/dublin-city-council-signs-off-on-636-home-south-dublin-scheme-despite-local-opposition/

 

• No construction to start on new family court complex before 2026 – Long vacant Smithfield site bought by State in late 1990s https://www.irishtimes.com/ireland/housing-planning/2023/08/11/no-construction-to-start-on-new-family-court-complex-before-2026/

 

• Controversial charity to learn next month if it can redevelop Dublin senior citizens block: Cabhrú has already issued tenders for demolition of McSweeney House on Berkeley Street in Phibsborough https://www.irishtimes.com/ireland/dublin/2023/08/09/controversial-charity-to-learn-next-month-if-it-can-redevelop-dublin-senior-citizens-block/

 

• Capital Oil couple aim to build apartment block in Mount Merrion, Dublin https://m.independent.ie/business/irish/capital-oil-couple-aim-to-build-apartment-block-in-mount-merrion-dublin/a283411318.html

 

• Cork development: A roundup of some projects in the pipeline – This year has been a busy one for Cork development so far.  https://www.echolive.ie/corknews/arid-41200462.html

 

• Planning sought for Galway City centre apartment blocks https://www.galwaydaily.com/news/planning-sought-for-galway-city-centre-apartment-blocks/

 

• A development comprising of a new Lidl store, commercial units, office space and 38 apartments has been granted planning permission. This is the latest in a series of planning permissions granted for the Towlerton area of Ballysimon, a 25 hectare site on the outskirts of Limerick city https://www.live95fm.ie/news/live95-news/boost-for-ballysimon-area-as-major-retailers-plans-for-new-development-gets-go-ahead/

 

• KILDARE: Plans for several apartments on edge of Curragh https://www.kildarenow.com/news/home/1266996/kildare-plans-for-several-apartments-on-edge-of-curragh.html

 

• KILDARE: Work to start on 19 new homes in Newbridge https://www.leinsterleader.ie/news/home/1269812/kildare-work-to-start-on-19-new-homes-in-newbridge.html

 

• Kildare hotel announces plans for major expansion https://www.leinsterleader.ie/news/home/1268777/breaking-kildare-hotel-announces-plans-for-major-expansion.html

 

• Forty-four warning notices have been issued by the planning enforcement unit at Mayo County Council for the first six months of 2023. Seven enforcement letters have issued this year. https://www.con-telegraph.ie/2023/08/08/forty-four-warning-notices-issued-by-mayo-planning-enforcement-department/

 

• Planning sought for 28 apartments in Cavan https://www.northernsound.ie/news/planning-sought-for-28-apartments-in-cavan-220149

 

• Planners approve 130 home development for Ballinderry area Of Mullingar https://www.westmeathexaminer.ie/2023/08/08/planners-approve-130-home-development-for-ballinderry-area/

 

• Planning granted to Tipperary Islamic Cultural Centre for new community building https://www.tipperarylive.ie/news/home/1264247/breaking-planning-granted-to-tipperary-islamic-cultural-centre-for-new-community-building.html

 

• A multi-million euro town centre development for Castlebar is in the pipeline https://www.midwestradio.ie/index.php/news/69312-multi-million-euro-town-centre-development-in-the-pipeline-for-castlebar

 

• Decision due this month on large Killarney nursing home and apartment complex https://www.radiokerry.ie/news/decision-due-next-month-on-large-killarney-nursing-home-and-apartment-complex-342759

 

• Rural revival for Kerry community as plans lodged for second major development for Ballinskelligs https://m.independent.ie/regionals/kerry/news/rural-revival-for-kerry-community-as-plans-lodged-for-second-major-development-for-ballinskelligs/a1035468717.html

 

• Permission refused for housing development in Kilkenny https://www.kilkennypeople.ie/news/local-news/1269192/permission-refused-for-housing-development-in-kilkenny.html

 

• Co Clare zoning decisions rejected over lack of wastewater facilities: Councillors rezoned lands around Broadford and Cooraclare in anticipation of both villages getting water treatment plants which have not yet been approved https://www.irishtimes.com/ireland/housing-planning/2023/08/10/co-clare-zoning-decisions-rejected-over-lack-of-wastewater-facilities/

 

• Actavo’s core operating profit, excluding discontinued operations, nearly quadrupled to €8.5m in 2022 https://m.independent.ie/business/irish/net-profit-at-denis-obriens-actavo-slumps-to-7m-but-operating-profit-soars/a1272100340.html

 

• Roadbridge liquidator focuses on disputed €25m owed to doomed construction giant https://m.independent.ie/business/irish/roadbridge-liquidator-focuses-on-disputed-25m-owed-to-doomed-construction-giant/a1817895877.html

 

 

PROPTECH, ESG & 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

 

• Trinity launches climate accelerator for built environment SMEs – The Built Environment Accelerator is a six-month virtual programme to help businesses scale up innovations that can decarbonise the sector https://www.siliconrepublic.com/start-ups/trinity-built-environment-accelerator-sme-construction-climate

 

• Certificate in Drones for Construction – DASBE | Ireland https://dasbe.ie/all-programmes/certificate-in-drones-for-construction/

 

• ‘You’re either a doomsayer or an advocate’ – Patricia Scanlon, Ireland’s AI ambassador: Tasked with forming an artificial intelligence taskforce, SoapBox Labs founder says Ireland needs to move fast to keep up with the pace of development https://www.businesspost.ie/news-focus/youre-either-a-doomsayer-or-an-advocate-patricia-scanlon-irelands-ai-ambassador/

 

• ‘See it before you build it’ business idea was brought up from Down Under: Lifesize Plans allows users to fully visualise their renovation and redecoration projects https://www.businesspost.ie/news-focus/see-it-before-you-build-it-business-idea-was-brought-up-from-down-under/ *(Also listen back to an interview with the founders at www.iPropertyRadio.com)

 

• The first movers creating Generative Design & AI tools for architecture https://www.bdonline.co.uk/opinion/the-first-movers-creating-generative-design-and-ai-tools-for-architecture/5124521.article

 

• Can VC bring innovation to proptech? ‘We have to’ https://www.inman.com/2023/08/08/can-vc-bring-innovation-to-proptech-we-have-to/amp/

 

• Research Firm Estimates Accelerated PropTech Growth Over Next 10 Years https://www.globest.com/2023/08/10/research-firm-estimates-cagr-9-3-proptech-growth-over-next-10-years/?amp=1 

 

• With trillions in ‘dry powder’, investors once again eye proptech https://www.inman.com/2023/08/10/with-trillions-in-dry-powder-investors-once-again-eye-proptech/amp/

 

• InnerSpace Closes $10M Series A Funding to Accelerate Growth in PropTech Sector https://www.benzinga.com/amp/content/33721323

 

• Dutch startup Matrixian Group proptech leap: €1.5M investment fuels advancement in real estate tech with AI https://techfundingnews.com/dutch-startup-matrixian-group-proptech-leap-e1-5m-investment-fuels-advancement-in-real-estate-tech-with-ai/

 

• Alto launches Alto Marketplace to allow agents to select proptech partners https://aimgroup.com/2023/08/10/alto-launches-alto-marketplace-to-allow-agents-to-select-proptech-partners/

 

ENERGY, CLIMATE & ENVIRONMENT

• ESB ramps up capital expenditure to €600m as renewables pipeline grows: The semi-state energy company’s Green Atlantic project will see the Co Clare plant become the centre point of its renewable strategy on the west coast https://www.businesspost.ie/news-focus/esb-ramps-up-capital-expenditure-to-e600m-as-renewables-pipeline-grows/

 

• Energy firms threaten to pull out of state renewables auction: Firms say structure of auction ‘unfair’, as price cap withheld until just before event https://www.businesspost.ie/news/energy-firms-threaten-to-pull-out-of-state-renewables-auction/

 

• Lenalea Wind Farm has reached a landmark milestone in its construction with the successful installation of its seventh and final wind turbines at the site in County Donegal https://www.evwind.es/2023/08/12/milestone-for-the-lenalea-onshore-wind-farm-with-the-wind-turbines-installed/93418

 

• North County Leitrim town to host a climate camp https://m.independent.ie/regionals/sligo/news/north-county-leitrim-town-to-host-a-climate-camp/a1934502950.html

 

• Building for the future: no more suburban sprawl, no more loss of green space – Game Changers: The Irish Green Building Council is attempting to rebalance the relationship between nature and buildings https://www.irishtimes.com/life-style/2023/08/07/building-for-the-future-no-more-suburban-sprawl-no-more-loss-of-green-space/

 

• Energia sold Dublin biogas plant to Eamon Waters for ‘a nominal sum’: Panda Waste founder’s investment firm acquired the facility in February https://www.thetimes.co.uk/article/energia-sold-dublin-biogas-plant-to-eamon-waters-for-a-nominal-sum-fkcss0vdh

 

• Offaly Wind Farm shortlisted for Irish planning award https://www.offalyexpress.ie/news/home/1265119/offaly-wind-farm-shortlisted-for-irish-planning-award.html

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• Housebuyers ditch Dublin for the good life in Wicklow https://www.thetimes.co.uk/article/housebuyers-ditch-dublin-for-the-good-life-in-wicklow-cpsplwjfx 

 

• Why Ireland’s biggest private landlord is struggling – despite average rents of €1,800 a month. The short answer: interest rates. https://www.thejournal.ie/ires-reit-landlords-irish-market-6141039-Aug2023/

 

• Average rent in Dublin is over €2,300 – but rises have stabilised since last quarter: Outside Dublin the average increase in rent between March and June was 4.3%. https://www.thejournal.ie/daft-q2-2023-rent-report-dublin-6139247-Aug2023/

 

• Tenant notices to quit increase to more than 5,700 in second quarter after eviction ban ends: Majority of landlords issuing notices cite intention to sell property as reason, says RTB https://www.irishtimes.com/ireland/housing-planning/2023/08/10/most-landlords-issuing-notices-to-quit-cite-selling-as-the-reason-rtb/

 

• Are landlords really leaving the market? Cork residents claim thousands failing to register: The association believes one third of residents in their local area are not registered. https://www.newstalk.com/news/are-landlords-really-leaving-the-market-cork-residents-claim-thousands-failing-to-register-1496163

 

• A free month’s rent for the average renter and tax cuts for ‘mom and pop’ landlords – Housing Minister Darragh O’Brien lays out goals in Independent.ie interview https://m.independent.ie/irish-news/a-free-months-rent-for-the-average-renter-and-tax-cuts-for-mom-and-pop-landlords-housing-minister-darragh-obrien-lays-out-goals/a876243212.html

 

• Revealed: 14 times more short-term lets on Airbnb than rental homes available on Daft.ie https://www.irishexaminer.com/news/arid-41199994.html Also: Almost 60 times more Airbnbs than rental homes available in Donegal: The high proportion of Airbnbs compared to rental properties is particularly high in counties that are known to attract tourism, particularly Donegal, Clare, Kerry and Cork county https://www.donegallive.ie/news/local-news/1267912/almost-60-times-more-airbnbs-than-rental-homes-available-in-donegal.html 

 

• Derelict 14-storey Sandyford office block to be converted into apartments: Plans lodged to complete Sentinel building, left unfinished since 2008 https://www.irishtimes.com/ireland/dublin/2023/08/07/derelict-14-storey-sandyford-office-block-to-be-converted-into-apartments/

 

• Apartment complex accommodation should be urgently again be provided to students insists MacSharry https://www.oceanfm.ie/2023/08/08/apartment-complex-accommodation-should-be-urgently-again-be-provided-to-students-insists-macsharry/

 

• Student accomodation will not house refugees – Simon Harris https://www.newstalk.com/news/student-accomodation-will-not-house-refugees-simon-harris-1495501

 

• New income limit for cost-rental scheme comes into effect, increasing to €66,000 in Dublin: The net household income limit for those living in the rest of the country is now €59,000. https://www.thejournal.ie/new-income-limit-cost-rental-scheme-6133736-Aug2023/

 

• Low uptake in scheme that aims to combat toxic lead in water pipes https://www.irishexaminer.com/news/arid-41202541.html

 

• Downsizing might be the answer to all your property problems: Older people may be hesitant about downsizing from their much-loved family homes — but there are ways to encourage that leap https://www.thetimes.co.uk/article/downsizing-might-be-the-answer-to-all-your-property-problems-qhxrsw9ld

 

• Desmond sells Dublin city house for more than €9m: Financier disposes of Merrion Square townhouse having recently completed refurbishment of Shrewsbury Road home https://www.irishtimes.com/ireland/housing-planning/2023/08/10/business-tycoon-dermot-desmond-sells-dublin-city-house-for-more-than-9m/

 

• Galway house prices revealed as new builds over €100,000 more than existing homes – And Dublin is no longer the most expensive place to buy https://www.galwaybeo.ie/news/ireland-news/galway-house-prices-revealed-new-8653197

 

• Waterford welcomes new cost rental development https://www.wlrfm.com/news/waterford-welcomes-new-cost-rental-development-319430

 

• Town centre businesses ‘are being harmed as empty homes fall into ruin’: Chambers Ireland calls for a tougher vacant-land register to tackle the issue https://m.independent.ie/business/irish/town-centre-businesses-are-being-harmed-as-empty-homes-fall-into-ruin/a631041903.html

 

• City to Country: 2-bed Dublin 7 mid-terrace or new life in €350,000 converted church: Converted church? A red-brick in the city? or a rural bungalow https://www.irishexaminer.com/property/residential/arid-41200567.html

 

• Louth’s first ever cost rental homes under way with Tuath: Ferrard Court in the Twenties is currently under construction https://m.independent.ie/regionals/louth/drogheda-news/louths-first-ever-cost-rental-homes-under-way-with-tuath/a1956672995.html

 

• Carlow is one of the Top 10 most expensive counties to rent property in Ireland https://www.carlowlive.ie/news/home/1267975/revealed-carlow-is-one-of-the-top-10-most-expensive-counties-to-rent-property-in-ireland.html

 

• Owners of vacant properties in Clare ‘coming out of the woodwork’ due to council action: Kilrush has seen a spate of vacant or derelict buildings being bought, while Lisdoonvarna has benefited from the government’s Town and Village Renewal Scheme https://www.irishexaminer.com/news/spotlight/arid-41201212.html

 

• Ireland’s little-known homeware stores that have all you need: Branch out from your usual haunts — these homewares spots are perfect for an autumn makeover https://www.thetimes.co.uk/article/ireland-s-little-known-homeware-stores-that-have-all-you-need-dcj2rm8lh

 

 

COMMERCIAL PROPERTY NEWS

• Changing climate: How going green and sustainable has become a big draw for tenants: Aviva Life & Pensions found that companies are willing to pay higher rents for greener properties https://www.businesspost.ie/article/changing-climate-how-going-green-and-sustainable-has-become-a-big-draw-for-tenants/

 

• WeWork has about two months of cash left. What next for Irish tenants and landlords? WeWork’s problems run deep. They won’t be easily fixed. That’s scary for those who depend on it https://thecurrency.news/articles/125404/wework-has-about-two-months-of-cash-left-what-next-for-irish-tenants-and-landlords/ Also: WeWork wobbles to add to Dublin property woes – American group has disclosed ‘substantial doubt’ about its ability to stay in business https://www.thetimes.co.uk/article/wework-wobbles-to-add-to-dublin-property-woes-37bv7w8fd 

 

• Hostelworld to focus on paying debt before return to dividends: The group reported sales of €51.5 million for the first six months of this year – up 57 per cent on the same period last year as it bounces back from pandemic https://www.businesspost.ie/news/hostelworld-to-focus-on-paying-debt-before-return-to-dividends/

 

• Derelict 14-storey Sandyford office block to be converted into apartments: Plans lodged to complete Sentinel building, left unfinished since 2008 https://www.irishtimes.com/ireland/dublin/2023/08/07/derelict-14-storey-sandyford-office-block-to-be-converted-into-apartments/

 

• Twitter founder Jack Dorsey’s payments firm Square eyes growth in Ireland: San Francisco-based company has ‘massively ramped up’ operations here and expects further expansion as it extends across Europe https://www.businesspost.ie/tech/twitter-founder-jack-dorseys-payments-firm-square-eyes-growth-in-ireland/

 

• Zoom recalls staff to office as firms turn off remote working: The video conferencing giant boomed because of lockdowns but the firm that became the flagship for the hybrid model has now asked employees to return in person https://www.businesspost.ie/tech/zoom-recalls-staff-to-office-as-firms-turn-off-remote-working/

 

• Lucan house where Ana Kriégel was murdered in 2018 sold for €4m: Glenwood House in west Dublin purchased by UK nursing home developers https://m.independent.ie/irish-news/crime/lucan-house-where-ana-kriegel-was-murdered-in-2018-sold-for-4m/a458946777.html

 

• €1.5m guide price for Bank of Ireland premises in Rathcoole https://www.echo.ie/e1-5m-guide-price-for-bank-of-ireland-premises-in-rathcoole/

 

• JYSK to open new store in Cork  – Joining the Youghal and Eastgate stores, the new store just outside Cork city will bring the total of JYSK stores in the rebel county to three. https://www.echolive.ie/corknews/arid-41202862.html

 

• Limerick retailer says City Hall has ‘no vision for city’s future’ https://www.live95fm.ie/news/live95-news/limerick-retailer-says-city-hall-has-no-vision-for-citys-future/

 

• Wexford’s Yola Bakery granted planning permission to open a new shop and cafe https://m.independent.ie/regionals/wexford/news/wexfords-yola-bakery-granted-planning-permission-to-open-a-new-shop-and-cafe/a1012247689.html

 

INTERNATIONAL PROPERTY NEWS

• Four in ten under-40s in the UK give up on home ownership: High living costs that prevent younger people from saving a deposit were seen as the biggest barrier — creating a generation of ‘Guppies’ https://www.thetimes.co.uk/article/four-in-ten-under-40s-give-up-on-home-ownership-xf68fkwb5

 

• Data shows how long it is taking to get a UK property under offer https://propertyindustryeye.com/data-shows-how-long-it-is-taking-to-get-a-property-under-offer/

 

• In praise of the ‘techies’ who make companies more productive: As it stands on the verge of the next industrial revolution, Britain needs people who can put new technology to good use https://www.irishtimes.com/business/2023/08/09/in-praise-of-the-techies-who-make-companies-more-productive/

 

• What kind of monster has the British planning system become? “Submitting a proposal to planning nowadays feels like slipping into a weird and dysfunctional dimension – it is a bankrupt system that the government should be deeply ashamed of” https://www.architectsjournal.co.uk/news/opinion/what-kind-of-monster-has-the-british-planning-system-become?tkn=1

 

• M&G European living property fund adds €98m Spanish project to portfolio https://realassets.ipe.com/news/mandg-european-living-property-fund-adds-98m-spanish-project-to-portfolio/10068269.article

 

• Construction-equipment sector sees ‘robust’ growth despite challenges: The UK construction-equipment sector saw its total revenue grow by 15 per cent to £15bn in the four years to 2022 https://www.constructionnews.co.uk/financial/robust-growth-for-construction-equipment-sector-despite-challenges-11-08-2023/

 

• The root cause of America’s housing affordability crisis, as told by one housing policy analyst https://fortune.com/2023/08/11/root-cause-housing-affordability-crisis-crunch/ 

 

• Amazon’s Jeff Bezos buys €62m waterfront mansion in Florida: The world’s third richest person also owns estates in Beverly Hills, Maui and Texas https://m.independent.ie/business/amazons-jeff-bezos-buys-62m-waterfront-mansion-in-florida/a1171873656.html

 

• Global perspective: Five models to de-risking the building industry in Australia – here’s what we can learn from around the world https://thefifthestate.com.au/columns/spinifex/five-models-to-de-risking-the-building-industry-in-australia-heres-what-we-can-learn-from-around-the-world/

 

• The real-estate empire helmed by one of China’s richest women is weeks away from a $199 billion collapse that could dwarf Evergrande https://fortune.com/2023/08/09/country-garden-default-china-real-estate-developer-bigger-than-evergrande/

 

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/