Weekly Irish property market news and insights – for the industry, by the industry
*Calling all Irish construction SMEs, please sign up with the Government-appointed CSG Innovation & Digital Adoption body, which will be resourcing firms to identify and overcome challenges to critical digitization. Link here: http://eepurl.com/hDFYfL
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:
- We need to talk about local needs: How are local authorities continuing to ignore EU rules on #planning for almost two decades? ‘Revision to “locals only” rule a priority – Minister’ https://selfbuild.ie/news/revision-to-locals-only-rule-a-priority-minister/
- Cabinet approves €165bn new National Development Plan https://amp-rte-ie.cdn.ampproject.org/c/s/amp.rte.ie/amp/1237597/
- In the Business Post today: Dublin City Council was offered 56 per cent discount on land at Poolbeg before deal fell apart: Department of Housing had wanted city council to buy docklands site from Nama for affordable housing in 2019 https://www.businesspost.ie/houses/dublin-city-council-was-offered-56-per-cent-discount-on-land-at-poolbeg-before-deal-fell-apart-dfbdb63d
- Government must show more urgency on housing crisis; John Moran, ex-chair of the Land Development Agency, said the government’s current approach to delivering affordable homes could take 25 years to succeed https://www.businesspost.ie/houses/moran-government-must-show-more-urgency-on-housing-crisis-03c00789
- State companies ‘must hand over land for housing’ : Greens leader Eamon Ryan determined to be strong in the face of critics from within the party https://m.independent.ie/irish-news/politics/state-companies-must-hand-over-land-for-housing-40708082.html
- What nonsense- ‘Board will not ask St Vincent’s Healthcare Group (SVHG) to sell the site to the state because it is “irrelevant” who owns it…. as long as the state owns the hospital building, the ownership of the land is not important’ https://www.thetimes.co.uk/article/new-nhm-head-ownership-is-irrelevant-qjkb3jlp6
- Share prices: Cairn Homes is currently trading at €1.06 in Dublin and analysts see an upside of around 50pc in the stock price. Property groups including Yew Grove Reit and Hibernia Reit are also tipped to improve in the second half of this year, according to Goodbody analysts. Firms operating in the construction industry here are expected to benefit from the huge demand for housing. https://m.independent.ie/business/irish/monday-insightthe-irish-stocks-that-are-undervalued-followingthe-uncertainty-of-covid-40688761.html
- In response to the Cairn Homes article last week: ’Builders’ claims to be unsupported by State hard to stomach – Cantillon: Despite assertions to contrary, housing demand consistently bolstered’ https://www.irishtimes.com/business/construction/builders-claims-to-be-unsupported-by-state-hard-to-stomach-1.4631023?mode=amp
- How many derelict buildings are there in the State? Government doesn’t know. Refurbishing/ renovating vacant buildings around the country is supposed to be a key plank of the State’s housing strategy yet the Government has no idea how many exist https://www.irishexaminer.com/opinion/columnists/arid-40345949.html?type=amp
- Housing Minister says €600,000 ‘not an affordable home’ as concerns loom over Poolbeg site: A Council official has said the affordable homes at Dublin’s “new suburb” could end up costing as much as €600,000. https://www.thejournal.ie/obrien-says-e600000-is-not-an-affordable-home-as-concerns-loom-over-poolbeg-development-5507344-Jul2021/
- Daft agrees to develop processes to remove ads that exclude rent allowance tenants: The company came to an agreement with the Irish Human Rights and Equality Commission on foot of a 2016 complaint. https://www.thejournal.ie/daft-hap-ads-5509459-Jul2021/
- Spain and France are out! It’s all change in the list of most viewed homes for sale overseas with Ireland and Jamaica leading the way https://www.dailymail.co.uk/property/article-9836001/amp/Most-popular-homes-sale-overseas-Zoopla-dominated-Ireland-Jamaica.html
- Ireland shows how to successfully wean off property https://www.macrobusiness.com.au/2021/07/ireland-shows-how-to-successfully-wean-off-property/
- Nama earned €20m in profits in first quarter of year: Figure is turnaround from €49m loss it reported for the same period in 2020 https://www.irishtimes.com/business/commercial-property/nama-earned-20m-in-profits-in-first-quarter-of-year-1.4632897
- Public Consultation on the Draft Guidance for Energy Efficiency in Traditional Buildings https://www.buildingsofireland.ie/public-consultation-on-the-draft-guidance-for-energy-efficiency-in-traditional-buildings-en/
- RTE show is looking for Dublin-based homes to rebuild and redesign old houses: If you think your house is in need of a makeover… https://www.dublinlive.ie/news/dublin-news/rte-home-diy-redesign-dublin-21190850
- Top 10 MOST BEAUTIFUL and best lighthouses in Ireland: Majestic in appearance, these are the most beautiful lighthouses in Ireland to add to your bucket list https://www.irelandbeforeyoudie.com/top-10-most-beautiful-lighthouses-in-ireland/
- Rent controls are becoming a highly divisive issue in Europe https://www.cnbc.com/amp/2021/07/29/rent-controls-are-becoming-a-highly-divisive-issue-in-europe.html
- Concern at increase in number of homeless families last month: Homeless campaigners have called for plans that address the particular challenges facing lone parents. https://www.thejournal.ie/family-homelessness-5510940-Jul2021/
- Liquidator of Dolphin-linked firm queries ‘significant’ salaries and fees: Directors ‘deny any wrongdoing in how investor funds were used’ – spokesman https://www.irishtimes.com/business/financial-services/liquidator-of-dolphin-linked-firm-queries-significant-salaries-and-fees-1.4635288
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 last week I was joined by Senator John Cummins, Fine Gael Spokesperson on Housing, Heritage and Local Government to discuss the Affordable Housing Bill, including cost rental, and other State measures to tackle the delivery of vital new homes across Ireland.
Watch back: https://youtu.be/XBKmspEzYdY
*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 needs to fully embrace community-led housing: Irish meitheal tradition has potential to help solve the crisis – with State support https://www.irishtimes.com/opinion/ireland-needs-to-fully-embrace-community-led-housing-1.4634996
- ‘Total travesty’: Plan to curb planning challenges receives nearly 300 submissions: Government plan met with wave of complaints from public and green groups https://www.irishtimes.com/business/construction/total-travesty-plan-to-curb-planning-challenges-receives-nearly-300-submissions-1.4630798?mode=amp
- Ringsend residents Successfully Challenge Tower– and Launch New Group | News Four http://www.newsfour.ie/2021/07/residents-successfully-challenge-tower-and-launch-new-group/
- Sandymount cycleway halted by High Court: Council must seek planning permission for trial path on Strand Road https://www.irishtimes.com/news/environment/sandymount-cycleway-halted-by-high-court-1.4634804?mode=amp
- Also: Sandymount cyclepath ruling could have ‘devastating’ impact on future projects: Dublin City Council to appeal High Court order to halt work on Strand Road project https://www.irishtimes.com/news/environment/sandymount-cyclepath-ruling-could-have-devastating-impact-on-future-projects-1.4635247?mode=amp
- Thousands of new homes and jobs: How Cork will grow to balance Dublin: Billions in Government funding will be injected into housing and transport plans for the city, a move which is designed to create thousands of new jobs and homes and transform #Cork https://www.irishexaminer.com/news/munster/arid-40346048.html
- New draft plan for city development published with public asked to have their say: The plan will see 20,000 homes and 31,000 jobs created in the city between 2022 and 2028 https://www.corkbeo.ie/news/local-news/new-draft-plan-city-development-21146253
- Cork City Council Announces City Centre Placemaking – Greening of the City Grant https://corksafetyalerts.com/news/cork-city-council-announces-city-centre-placemaking-greening-of-the-city-grant/
- Councillors and community groups hold workshop on sustainable development in the city https://www.galwaydaily.com/news/councillors-and-community-groups-hold-workshop-on-sustainable-development-in-the-city/?amp
- Plans for café and retail exhibition space at Wicklow’s Abbey Grounds https://m.independent.ie/regionals/wicklow/plans-for-cafe-and-retail-exhibition-spaceat-wicklows-abbey-grounds-40698671.html
- 36 hours in Ballybunion: ‘Main Street has become a bit of a disaster’ https://www.irishtimes.com/life-and-style/travel/ireland/36-hours-in-ballybunion-main-street-has-become-a-bit-of-a-disaster-1.4633761?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
- Construction sector unions seek guaranteed 39-hour week: Unite says some employers sending workers home without pay during inclement weather https://www.irishtimes.com/business/construction-sector-unions-seek-guaranteed-39-hour-week-1.4633078
- US broker NFP acquires Aiken Insurance: Dublin-based AIL is one of only a handful of commercial risks experts operating in Ireland, providing specialist cover around complex commercial liability and property risks, including unoccupied property https://m.independent.ie/business/irish/us-broker-nfp-acquires-aiken-insurance-40705742.html
- Signs of strong rebound in building activity https://amp.rte.ie/amp/1237444/
- Construction bounced back in the second quarter of the year with the lifting of Covid-19 restrictions, according to the Central Statistics Office. The completion of houses and apartments is now running at a higher rate than the same period two years ago. https://amp.rte.ie/amp/1237983/
- House-building bounces back with completions at pre-Covid levels: More than 5,000 new dwelling completions recorded in Q2, CSO figures show https://www.irishtimes.com/business/economy/house-building-bounces-back-with-completions-reaching-pre-covid-levels-1.4633888?mode=amp
- Housing starts surge after Covid lockdowns – Goodbody https://amp-rte-ie.cdn.ampproject.org/c/s/amp.rte.ie/amp/1237359/
- Failure to plan and invest will condemn future generations to a water crisis: Our water infrastructure is in grave condition and if we are to continue to provide enough for everyone, we need a utility that can charge for its services https://www.businesspost.ie/climate-environment/failure-to-plan-and-invest-will-condemn-future-generations-to-a-water-crisis-b8e5ef09
- Fixing Celtic Tiger-era building issues ‘to cost at least €365 million’: Construction Defects Alliance says sum ‘tip of iceberg’ and may be closer to €1bn
- Department of Housing criticises Moore Street redevelopment plan: Extent of demolition “unwarranted” https://www.irishtimes.com/culture/heritage/department-of-housing-criticises-moore-street-redevelopment-plan-1.4631143?mode=amp
- St Patrick’s hospital seeks to cash in on €100m Dublin lands: Care group may move mental health services to new facility in Lucan https://www.thetimes.co.uk/article/st-patricks-hospital-seeks-to-cash-in-on-100m-dublin-lands-7kls8ppr3
- Some 24 hotels to be developed over next two years in Dublin: New hotels offering a total of 4,500 rooms will be available by the end of 2023 https://www.irishtimes.com/business/commercial-property/some-24-hotels-to-be-developed-over-next-two-years-in-dublin-1.4630179?mode=amp
- ‘Keep moving, keep changing’ – Pure Fitout’s Ronan Higham on how his firm has gone from strength to strength: Belfast-based bespoke shopfitting firm has managed to grow its space in the sector, despite the pandemic https://m.independent.ie/business/keep-moving-keep-changing-pure-fitouts-ronan-higham-on-how-his-firm-has-gone-from-strength-to-strength-40704323.html
- Kavanagh faces legal battle to hold onto firm after subcontractor seeks to wind up company: Bigstone General Building petitions High Court to wind up developer’s Sequana Assets over alleged outstanding debt of around €130,000 https://www.businesspost.ie/property/kavanagh-faces-legal-battle-to-hold-onto-firm-after-subcontractor-seeks-to-wind-up-company-0cbfa360
- Judge refuses to overturn permission for 105 apartments in Ballsbridge: Court told ‘only a small part’ of the planning process ‘miscarried’ as a result of the error https://www.irishtimes.com/news/crime-and-law/courts/high-court/judge-refuses-to-overturn-permission-for-105-apartments-in-ballsbridge-1.4633824?mode=amp
- Old pub at heart of Crumlin village to be demolished and replaced by apartments: The proposed plans for the site include the construction of five two-bedroom mews houses, three two-bedroom apartments, and a single one-bedroom apartment https://www.dublinlive.ie/news/dublin-apartments-houses-crumlin-village-21152900
- Construction to begin on €30 million medical centre for Dublin’s homeless https://www.breakingnews.ie/ireland/construction-to-begin-on-new-30-million-euro-medical-centre-for-dublins-homeless-1163757.html
- €30m Dublin hotel development delayed by laneway dispute, court told: Cathedral Leisure Ltd hopes to start work on hotel on former Boland’s Bakery site next year https://www.irishtimes.com/business/construction/30m-dublin-hotel-development-delayed-by-laneway-dispute-court-told-1.4630952?mode=amp
- Plans lodged to build 600 apartments on old bottle factory site in Poolbeg: The consortium behind the project is eager to begin construction early next year. https://www.thejournal.ie/planning-permission-apartments-bottle-poolbeg-5505653-Jul2021/
- Johnny Ronan closing in on €220m sale of Dublin docklands apartments: Round Hill Capital pursuing deal with RGRE for purchase of Spencer Place portfolio https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/johnny-ronan-closing-in-on-220m-sale-of-dublin-docklands-apartments-1.4631745?mode=amp
- BAM begins work on 413 rental apartments and 150-bed hotel in Dublin 8: Newmarket Square scheme will extend to 318,289sq ft and cost €100m to deliver https://www.irishtimes.com/business/commercial-property/bam-begins-work-on-413-rental-apartments-and-150-bed-hotel-in-dublin-8-1.4628582
- Councillors call Dublin build-to-rent scheme a ‘monstrosity’: Developer plans to build scheme of 1,614 apartments up to 18 storeys tall on Clonliffe Rd https://www.irishtimes.com/news/environment/councillors-call-dublin-build-to-rent-scheme-a-monstrosity-1.4634208
- Walkinstown roundabout housing plan fails to get planning permission: Eight-storey apartment block with pub and retail units was proposed for Kestrel site https://www.irishtimes.com/business/construction/walkinstown-roundabout-housing-plan-fails-to-get-planning-permission-1.4630111?mode=amp
- Second court challenge taken over permission for Phibsborough apartments: An Bord Pleanála has given permission for development of 205 units near Cross Guns bridge https://www.irishtimes.com/business/construction/second-court-challenge-taken-over-permission-for-phibsborough-apartments-1.4631869
- South Dublin site with residential potential seeks €1.5m: Plot of 0.5 acre on Golf Lane in Carrickmines has scope for delivery of 44 apartments https://www.irishtimes.com/business/commercial-property/south-dublin-site-with-residential-potential-seeks-1-5m-1.4628588
- Dublin’s first open-air, rooftop cinema delayed as appeal lodged with An Bord Pleanála: Owner of 4 Dame Lane bar has complained to planning regulator after council approved plans for restaurant and cinema on upper levels of nearby Trinity Street car park https://www.businesspost.ie/Planning/dublins-first-open-air-rooftop-cinema-delayed-as-appeal-lodged-with-an-bord-pleanala-e01a350e
- Permission Sought For Construction Of Development Including 158-Bed Hotel In Cork City https://www.hospitalityireland.com/amp/hotel/permission-sought-for-construction-of-development-including-158-bed-hotel-in-cork-city-141249
- Planning application lodged for apartment scheme on Cork’s northside https://www.echolive.ie/corknews/arid-40349117.html
- Plan for 99 new houses, a shop, and a creche on the northside of Cork city: Plan for 99 new houses, a shop, and a creche on the northside of Cork city https://www.corkbeo.ie/news/local-news/plan-99-new-houses-shop-21186980
- Half-acre site on Cork’s Monahan Road may achieve €2m: In the heart of the Cork Docklands undergoing rapid redevelopment https://www.irishexaminer.com/property/commercial/arid-40347653.html
- Logitech’s move to new Cork offices signals hundreds of new jobs: Construction underway by the JCD Group on a new office development in Mahon https://www.irishexaminer.com/property/commercial/arid-40347950.html?type=amp
- Report finds over 2,000 residential buildings were under construction in Cork last month https://www.echolive.ie/corknews/arid-40346627.html
- Plan for major high rise student accommodation on Headford road approved by An Bord Pleanála https://galwaybayfm.ie/galway-bay-fm-news-desk/plan-for-major-high-rise-student-accommodation-on-headford-road-approved-by-an-bord-pleanala/
- Appeal rejected in plans for Briarhill housing estate https://www.galwaydaily.com/news/housing/appeal-rejected-in-plans-for-briarhill-housing-estate/
- County Council urged to impose derelict site levies to tackle eyesores across Galway https://connachttribune.ie/county-council-urged-to-impose-derelict-site-levies-to-tackle-eyesores-across-galway/amp/
- Proposal for student area and region’s largest hotel | Westmeath Independent https://www.westmeathindependent.ie/2021/07/30/proposal-for-student-area-and-regions-largest-hotel/
- US manufacturer announces 130 jobs expansion for Waterford in new investment: Repligen Corporation’s latest expansion is to take place over the next two and a half years as it fits out a 33,000 square foot LEED Silver building https://www.irishexaminer.com/business/companies/arid-40345472.html
- Planning granted for new Lidl store in Kilkenny: Development also includes construction of 13 two-storey homes adjoining new store https://www.kilkennypeople.ie/news/home/652275/breaking-planning-granted-for-new-lidl-store-in-kilkenny.html
- Ballymore partners with Sainsbury’s to develop 18-acre site in London: The Ladbroke Grove development will involve the construction of 2,800 homes and a 130,000sq ft Sainsbury’s store https://www.irishtimes.com/business/ballymore-partners-with-sainsbury-s-to-develop-18-acre-site-in-london-1.4634120?mode=amp
- Turner & Townsend sells major stake to US firm in £960m deal | Construction News https://www.constructionnews.co.uk/financial/ma/turner-townsend-sells-major-stake-to-us-firm-in-960m-deal-27-07-2021/
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 *
- 17 Most Innovative Ireland Based Predictive Analytics Companies https://futurology.life/17-most-innovative-ireland-based-predictive-analytics-companies/
- Galway siblings have ambitious plans for new home building marketplace https://www.galwaydaily.com/business/galway-siblings-have-ambitious-plans-for-new-home-building-marketplace/?amp
- Lintil has received funding of €270,000 from the Kerry HBAN branch, which it plans to invest in the company’s UK expansion and more staff. https://www.siliconrepublic.com/start-ups/kerry-angel-investors-lintil-hban-funding
- How data and automation could create the buildings of the future https://www.siliconrepublic.com/machines/automation-smart-buildings-siemens
- Daylight saving: The smart lamp that mimics natural light – IlluminAi Tech’s product is designed to brighten the mood of those stuck indoors https://www.irishtimes.com/business/innovation/daylight-saving-the-smart-lamp-that-mimics-natural-light-1.4625569?mode=amp
- Moorfield Group and Elkstone Partners have become the latest limited partners to join Pi Labs’ third institutional fund, Fund III. https://placetech.net/news/two-partners-join-pi-labs-fund-iii/amp/
- Is regulation stifling innovation for law firms? | Today’s Conveyancer https://www.todaysconveyancer.co.uk/partner-news/regulation-stifling-innovation-law-firms/
- Does the rental sector need a smart tech overhaul?… https://www.estateagenttoday.co.uk/sponsored-content/2021/7/does-the-rental-sector-need-a-smart-tech-overhaul
- Proptech partnership prevents over £130,000 BTR tenant fraud – Show House https://www.showhouse.co.uk/news/proptech-partnership-prevents-over-130000-btr-tenant-fraud/
- UK proptech essensys grabs £33.2M to accelerate global expansion – UKTN (UK Tech News) https://www.uktech.news/funding/vc-funding/uk-proptech-essensys-grabs-33-2m-to-accelerate-global-expansion-20210730
- Acrew Capital, Jeff Bezos back Colombia-based proptech La Haus’ $100M debt, equity round | TechCrunch https://techcrunch.com/2021/07/29/colombias-la-haus-secures-100m-in-debt-equity/
- Acceleration of Pace of Proptech Revolution Rapidly Changing Business of Real Estate https://www.property-magazine.eu/acceleration-of-pace-of-proptech-revolution-rapidly-changing-business-of-real-estate-58538.html
- Smart Buildings Don’t Go Far Enough, as Construction Contributes Significantly to Emissions https://www.environmentalleader.com/2021/07/smart-buildings-dont-go-far-enough-as-construction-contributes-significantly-to-emissions/
- Proptech Revolution Grows as Landlords Turn to Big Data to Manage Properties | Propmodo https://therealdeal.com/2021/07/27/proptech-revolution-grows-as-landlords-turn-to-big-data-to-manage-properties/
- End disputes, increase safety, save money – how the industry is turning to tech https://www.constructionnews.co.uk/tech/a-21st-century-solution-to-ending-disputes-increasing-safety-and-boosting-efficiency-26-07-2021/
- Spleet is first African startup to join MetaProp Accelerator | TechCabal https://techcabal.com/2021/07/30/spleet-is-first-african-startup-to-join-metaprop-accelerator/
- Employees Don’t Want an Office, They Want a Tech-enabled Campus https://www.propmodo.com/employees-dont-want-an-office-they-want-a-tech-enabled-campus/
- Amazon reportedly has a ‘key’ to thousands of apartment buildings in US: Said to be using gift cards to incentivise buildings to install its Key for Business system https://www.theverge.com/2021/7/26/22593871/amazon-key-for-business-thousands-of-buildings-us-installation-incentives-privacy-concerns
RESIDENTIAL PROPERTY NEWS (including PRS)
- Housing crisis Ireland: Horrifying waiting times of over a decade for a single four-bedroom Dublin home: Waiting lists for public housing have gone up and up and are now at the point where no one knows how long they’ll be on it https://www.dublinlive.ie/news/dublin-news/housing-crisis-ireland-horrifying-waiting-21155895.amp
- Co-operative housing delivers record 454 homes in 2020 https://amp.rte.ie/amp/1237668/
- Friend of former CEO of housing charity slept in unit, watchdog finds: Cabhru Housing Association Services use of resources focus of Charities Regulator report https://www.irishtimes.com/news/social-affairs/friend-of-former-ceo-of-housing-charity-slept-in-unit-watchdog-finds-1.4632143?mode=amp
- Holding deposits: ‘It seems landlords in Ireland can rip people off with impunity’: Pricewatch: Reader loses €1,200 after rental deal falls through over ‘no cats’ lease clause https://www.irishtimes.com/news/consumer/holding-deposits-it-seems-landlords-in-ireland-can-rip-people-off-with-impunity-1.4622370?mode=amp
- Mortgage extended until wife is 115 in debt deal that saves family home from repossession https://m.independent.ie/irish-news/courts/mortgage-extended-until-wife-is-115-in-debt-deal-that-saves-family-home-from-repossession-40705304.html
- Some of Central Bank’s mortgage lending rules ‘crude and unfair’: Brokers Ireland wants the Central Bank to switch the loan-to-income limit for borrowers from a calculation based on a multiple of gross income to one based on net disposable income https://www.irishexaminer.com/business/economy/arid-40349573.html?type=amp
- Clare County Council seeks review of 90% mica redress cap despite state opposition: Department of Housing has said it is ‘satisfied that the current scheme will work on a 90/10 basis for the majority of homeowners’ https://www.businesspost.ie/houses/clare-county-council-seeks-review-of-90-mica-redress-cap-despite-state-opposition-5d7f6cf1
- West Cork’s price hikes not sustainable in the long term https://www.southernstar.ie/property/west-corks-price-hikes-not-sustainable-in-the-long-term-4227339
- Councillors query long-term lease deal for 124 apartments at car park of former Regency Hotel https://www.thejournal.ie/councillors-query-long-term-lease-deal-for-124-apartments-at-site-of-former-regency-hotel-5502457-Jul2021/
- Rent family home and keep the cash in new Fair Deal revamp https://m.independent.ie/irish-news/rent-family-home-and-keep-the-cash-in-new-fair-deal-revamp-40692569.html
- Halliday Mills apartment complex is set for completion next month, with tenants expected in September: Louth County Council are currently accepting applications for the €21 million apartment block https://www.dundalkdemocrat.ie/news/news/652800/halliday-mills-apartment-complex-is-set-for-completion-next-month-with-tenants-expected-in-september.html
- Hot day of summer property sales for O’Donnellan & Joyce https://www.advertiser.ie/galway/article/123429/hot-day-of-summer-property-sales-for-odonnellan-joyce
- EXPLAINER: What is a “right of way” in Ireland? Here’s all you need to know https://www.kilkennypeople.ie/news/national/652164/explainer-what-is-a-right-of-way-in-ireland-here-s-all-you-need-to-know.html
- How do we divide the common areas in our estate when we dissolve our OMC? Property Clinic: Such a move should only be made in consultation with a legal adviser https://www.irishtimes.com/life-and-style/homes-and-property/how-do-we-divide-the-common-areas-in-our-estate-when-we-dissolve-our-omc-1.4627719?mode=amp
- Almost 1 in 10 residential properties in Kerry are vacant https://www.radiokerry.ie/news/almost-1-in-10-residential-properties-in-kerry-are-vacant-245276
- Demand for prime property heats up as Blackrock home secures €9m: Around the Block: Deal for Avoca Avenue house third most-valuable sale of 2021 https://www.irishtimes.com/life-and-style/homes-and-property/demand-for-prime-property-heats-up-as-blackrock-home-secures-9m-1.4632586?mode=amp
COMMERCIAL PROPERTY NEWS
- Banks put through commercial property ringer in stress tests – Cantillon: Curbs on shareholder payouts to peter out as EBA scrutiny report looms https://www.irishtimes.com/business/financial-services/banks-put-through-commercial-property-ringer-in-stress-tests-1.4630983?mode=amp
- Values continue to fall on flagship retail properties: Downward trend for the likes of Henry St and Grafton St is in contrast with strong gains in logistics and industrial sector https://m.independent.ie/business/commercial-property/values-continue-to-fall-on-flagship-retail-properties-40695978.html
- Landmark Rathmines pub, Slattery’s, sold for €3m: Dublin 6 venue sold in off-market deal after two generations in Slattery family https://www.irishtimes.com/business/commercial-property/landmark-rathmines-pub-slattery-s-sold-for-3m-1.4633836
- Concerns the damage done to bricks and mortar retailing will be long lasting: There are fears that a significant number of retail workers will fail to return to jobs even when the crisis fully ends https://www.irishexaminer.com/business/economy/arid-40347674.html
- Jervis shopping centre joy as long-awaited American retailer set to launch first Irish store in Dublin city: 12 staff will be employed at the Jervis store, with an array of exciting offers planned during the launch period https://www.dublinlive.ie/news/dublin-news/shopping-centre-dublin-city-american-21179039
- TikTok to open new cybersecurity centre in Dublin with creation of 50 jobs https://m.independent.ie/business/tiktok-to-open-new-cybersecurity-centre-in-dublin-with-creation-of-50-jobs-40691664.html
- Hibernia rent collection remains robust, as it confirms Harcourt Square letting to KPMG https://m.independent.ie/business/commercial-property/hibernia-rent-collection-remains-robust-as-it-confirms-harcourt-square-letting-to-kpmg-40693228.html
- Owner of Brown Thomas and Arnotts put up for sale with €4.7bn price tag: The Weston family in Canada appoints Credit Suisse to oversee auction of Selfridges group https://www.irishtimes.com/business/retail-and-services/owner-of-brown-thomas-and-arnotts-put-up-for-sale-with-4-7bn-price-tag-1.4631130
- Also: Changing family fortunes put Selfridges in the shop window: The Westons lavished the department store with love. But the passing of their patriarch and the ravages of the pandemic mean they’re finally prepared to sell https://www.thetimes.co.uk/article/changing-family-fortunes-put-selfridges-in-the-shop-window-str0jgglg
- Landlord of Costa outlet in Dundrum disputes lease frustration claim https://www.breakingnews.ie/business/landlord-of-costa-outlet-in-dundrum-disputes-lease-frustration-claim-1163721.html
- Belgian firm Aedifica invests €36.5m in Dublin care homes: Real estate investment trust’s Irish portfolio now worth nearly €90m https://www.irishtimes.com/business/commercial-property/belgian-firm-aedifica-invests-36-5m-in-dublin-care-homes-1.4631691
- Primary Health Properties plans to spend €126m developing Irish portfolio https://m.independent.ie/business/world/primary-health-properties-plans-to-spend-126m-developing-irish-portfolio-40696991.html
- Slattery’s in Rathmines changes hands for almost €3m: Off-market sale shows strong demand for prime Dublin pub assets despite lockdown https://www.businesspost.ie/commercial/slatterys-in-rathmines-changes-hands-for-almost-eur3m-2e0a4224
- Georgian building in need of refurbishment comes to market in Cork City: The building was as a Christmas HQ for Share’s annual collections https://www.irishexaminer.com/property/commercial/arid-40347968.html
- Plans lodged for revamp of Easons flagship Cork location: Premises on Patrick’s St has been sold to Sports Direct with Easons to relocate later this year https://www.irishexaminer.com/property/developmentconstruction/arid-40347683.html
INTERNATIONAL PROPERTY NEWS
- UK house prices now 30% higher than pre-2008 crisis peak: Average price of a home is now £230,700 – 5.7% higher than a year ago, says property website Zoopla https://amp.theguardian.com/business/2021/jul/27/uk-house-prices-now-30-higher-than-pre-2008-crisis-peak
- Estate agents have paid record fees to advertise properties on Rightmove, with total revenue at the property portal beating pre-pandemic levels in the first half of the year. https://www.thetimes.co.uk/article/estate-agents-splurge-on-rightmove-dkvpqzsr6
- UK construction equipment sales up 70% on 2020 levels https://scottishconstructionnow.com/article/uk-construction-equipment-sales-up-70-on-2020-levels
- Lockdown sees a fall in demand for apartments in central London https://www.propertyreporter.co.uk/property/ockdown-sees-a-fall-in-demand-for-apartments-in-central-london.html
- Dutch developer Edge has gained consent for a 27-storey ‘next generation’ green office building next to London Bridge Station. https://www.constructionenquirer.com/2021/07/26/go-ahead-for-27-storey-tower-next-to-shard/
FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS
Crowd-sourcing answers topical property questions:
Irish Property Buyers Handbook annualsAs 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/