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:
- In the Business Post today: Company Watch: Planning issues are biggest threat to house building, says Glenveagh boss: Chief executive Stephen Garvey argues the Covid-19 pandemic may have rendered the National Planning Framework out of date https://www.businesspost.ie/construction/company-watch-planning-issues-are-biggest-threat-to-house-building-says-glenveagh-boss-dce04904
- Junior Housing Minister Peter Burke told a meeting of Macra na Feirme this week that there are no plans to restrict the number of one-off houses, and that he believes one in four new homes should be in rural areas outside towns and villages: https://www.irishexaminer.com/news/politics/arid-40364447.html?type=amp
- Also: No plans to ban one-off housing: Fine Gael Senator Micheál Carrigy said one-off housing plays a small but important role in accommodating our growing population and Government can give a firm commitment that are no plans in place to restrict this type of development. https://www.longfordleader.ie/news/home/659477/development-of-one-off-housing-will-continue-in-longford-to-revitalise-our-communities.html
- Michael Clifford: One-off housing too hot to handle as the planet burns: The environment may be in peril, the climate in crisis, all bets off as far as how we’ve lived for decades, but stay away from the political hot potato that is one-off rural housing https://www.irishexaminer.com/news/arid-40365950.html?type=amp
- An entire village faces abandonment if a solution to encroaching floodwater is not found, locals say. It comes as an environmental protection group won its High Court action yesterday aimed at halting works on a flood relief scheme in Ballagh, Roscommon https://m.independent.ie/irish-news/entire-village-will-have-to-be-abandonedif-floodingis-not-fixed-40788277.html
- Only one-in-10 workers want full-time return to the office https://www.irishexaminer.com/news/arid-40365728.html?type=amp
- What To Do With All Those Vacant Offices? Startups Seeing Space For ‘Learning Pods,’ ‘Microgyms’ And More https://news.crunchbase.com/news/vacant-office-space-proptech-startups-repurpose/
- Concrete construction “offsets around one half” of emissions caused by cement industry says IPCC https://www.dezeen.com/2021/08/24/concrete-construction-offsets-emissions-cement-industry-ipcc/
- Plans for three much-needed new schools on the southside of Dublin on hold following objections from local residents https://m.independent.ie/news/plans-for-three-much-needed-new-schools-on-the-southside-of-dublin-on-hold-following-objections-from-local-residents-40787160.html
- Housebuilder Glenveagh has buyers lined up for all its 2021 homes: Builder returns to profitability in first half as it increases output depsite Covid lockdowns https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/construction/housebuilder-glenveagh-has-buyers-lined-up-for-all-its-2021-homes-1.4656750?mode=amp
- Homeowners blame Irish Water for delay on moving into new homes: Those who paid deposits on Rathcoole homes say they are waiting months for connection to water supply https://www.irishtimes.com/business/construction/homeowners-blame-irish-water-for-delay-on-moving-into-new-homes-1.4656247
- Energy company lobbied government for new €12bn zero-carbon town in Irish midlands: Phelan Energy Group is seeking state support to build an energy-efficient town which could provide homes for 80,000 people and create 45,000 jobs https://www.businesspost.ie/houses/energy-company-lobbied-government-for-new-eur12bn-zero-carbon-town-in-irish-midlands-5e6c3c40
- Robert Pether, the Australian-born engineer resident in Co Roscommon with his wife and children, has been sentenced to five years’ imprisonment and fined $12 million by an Iraqi court. The sentence, handed down earlier this week, applies also to Mr Pether’s Egyptian-born colleague, Khalid Radwan. Both men had been working on a new headquarters in Baghdad for the Central Bank of Iraq when they were arrested without explanation last April. https://www.irishtimes.com/news/crime-and-law/irish-resident-handed-five-year-sentence-in-iraq-for-unspecified-conviction-1.4657254?mode=amp
- A renaissance for the French Institute: Galway’s centre of French language and culture welcomes new leadership team https://www.advertiser.ie/galway/article/123851/a-renaissance-for-the-french-institute
- Chairman of Inner City Helping Homeless steps down: David Hall cites threats to personal safety after ‘difficult time’ for charity https://www.irishtimes.com/news/social-affairs/chairman-of-inner-city-helping-homeless-steps-down-1.4658191?mode=amp
- A former Lord Mayor of Dublin is to be appointed interim chairman of the charity Inner City Helping Homeless following the death of its founder. https://www.breakingnews.ie/ireland/former-dublin-mayor-to-be-appointed-interim-ceo-of-inner-city-helping-homeless-1177243.html
- STARTUPS SEE OPPORTUNITY IN UNUSED OFFICE SPACE https://allwork.space/2021/08/startups-see-opportunity-in-unused-office-space/
- CRH eyes huge slice of Biden’s $1tn US rebuilding plan https://www.irishexaminer.com/business/companies/arid-40367315.html Also: American highways beckon for booming CRH https://www.thetimes.co.uk/article/american-highways-beckon-for-booming-crh-0q7gzddtx
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.
Our new season kicks off next Tuesday – in the meantime, take a look back to earlier episode highlights of 2021!
*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
- Fancy escaping Dublin for greener pastures? Do your homework first: Broadband, Ber and building work: Issues to keep in mind before leaving the capital https://www.irishtimes.com/life-and-style/homes-and-property/fancy-escaping-dublin-for-greener-pastures-do-your-homework-first-1.4639727?mode=amp
- Remote work can put commuters back into the community: Less time on the road and more time being where you live benefits everbody https://www.irishtimes.com/opinion/remote-work-can-put-commuters-back-into-the-community-1.4655184?mode=amp
- Calls to keep Capel Street and Parliament Street pedestrianised as Dublin City Council says trial to end https://m.independent.ie/irish-news/calls-to-keep-capel-street-and-parliament-street-pedestrianised-as-dublin-city-council-says-trial-to-end-40781267.html
- Howth residents launch campaign to oppose demolition of 19th century house for apartment complex https://m.independent.ie/regionals/dublin/howth-residents-launchcampaign-to-oppose-demolition-of-19th-century-house-for-apartment-complex-40779055.html
- Donabate residents slam ‘outrageous’ development plans lodged for over 1,000 homes: Residents in Donabate have expressed their outrage over housing plans for a site at Corballis East https://www.dublinlive.ie/news/dublin-news/donabate-residents-slam-outrageous-development-21418902
- Eighteen streets to remain pedestrianised in Cork city after pandemic: Change led to outdoor dining surge and more vibrant urban centre, locals say https://www.irishtimes.com/news/environment/eighteen-streets-to-remain-pedestrianised-in-cork-city-after-pandemic-1.4658028?mode=amp
- Galway County Council will receive €320 thousand for this year’s scheme, which will benefit projects in Ballygar, Glenamaddy, Headford, Loughrea, Oranmore and Oughterard. https://galwaybayfm.ie/galway-bay-fm-news-desk/six-county-towns-selected-for-e320000-street-enhancement-scheme/
- Conamara Láir – We’re waiting for you: https://youtu.be/4WXIf2mSdEg
- Fianna Fáil Senator objects to housing development in Waterford Gaeltacht: Clifford-Lee says development would have ‘negative impact’ on Irish speakers in area https://www.irishtimes.com/news/politics/fianna-f%C3%A1il-senator-objects-to-housing-development-in-waterford-gaeltacht-1.4657800?mode=amp
- Locals Express Concern At Coastal Quarter Plans In Bray https://www.eastcoast.fm/news/wicklow-news/locals-express-concern-at-coastal-quarter-plans-in-bray/
- Enniskerry development will cause ‘massive jams’, councillor says https://m.independent.ie/regionals/wicklow/enniskerry-development-will-cause-massive-jams-councillor-says-40783939.html
- SSE Renewables has donated over €228,000 to more than 100 community groups through the Limerick and Kerry Community Fund over the past year. https://www.limerickleader.ie/news/business/658388/energy-company-provides-funding-boost-for-limerick-community-groups.html
- More than 50 submissions on controversial Clare data centre proposal https://www.irishexaminer.com/news/arid-40365623.html
- Court grants judicial review of Co Meath data centre plan: Local residents claim planning decision did not consider climate change emissions impact https://www.irishtimes.com/business/construction/court-grants-judicial-review-of-co-meath-data-centre-plan-1.4655925?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
- Fresh warnings of house price hikes amid concern over building materials inflation: Figures in the Irish construction industry have warned that the rising cost of timber, concrete and steel will translate into higher costs for housing next year https://www.businesspost.ie/construction/fresh-warnings-of-house-price-hikes-amid-concern-over-building-materials-inflation-c143e1ed
- Revamp of online CAO system to allow school leavers apply for apprenticeships and training schemes https://m.independent.ie/irish-news/education/revamp-of-online-cao-system-to-allow-school-leavers-apply-for-apprenticeships-and-training-schemes-40777329.html
- Over a third of tradespeople don’t apply sunscreen when working outdoors https://www.con-telegraph.ie/2021/08/25/over-a-third-of-tradespeople-dont-apply-sunscreen-when-working-outdoors/
- Dublin docklands site with scope for 1,051 apartments seeks €80m: Eight-acre holding near Dublin Port Tunnel was last offered for sale for €150m in 2006 https://www.irishtimes.com/business/commercial-property/dublin-docklands-site-with-scope-for-1-051-apartments-seeks-80m-1.4655107
- Developers seek fast track for more than 1,100 homes: Marlet, Lioncor and Ballymore among giants with plans for Dublin and Wicklow sites https://www.thetimes.co.uk/article/developers-seek-fast-track-for-more-than-1-100-homes-8qzbf3bq2
- Lioncor to seek planning for 244-unit apartment scheme in Blackrock: Scheme planned to reach up to nine storeys in height on former school land https://www.irishtimes.com/business/retail-and-services/lioncor-to-seek-planning-for-244-unit-apartment-scheme-in-blackrock-1.4654326
- Eagle Street Partners signs EUR78.5m contract for Castleforbes site in Dublin https://www.propertyfundsworld.com/2021/08/26/305349/eagle-street-partners-signs-eur785m-contract-castleforbes-site-dublin
- Over 200 flats planned for derelict former bus depot site https://www.thetimes.co.uk/article/over-200-flats-planned-for-derelict-former-bus-depot-site-7m8gkv57d
- Developer bids to swap hotel already under construction in Dublin for build-to-rent: Pat Crean wants permission for 12-storey scheme despite having started building hotel https://www.irishtimes.com/news/ireland/irish-news/developer-bids-to-swap-hotel-already-under-construction-in-dublin-for-build-to-rent-1.4658052?mode=amp
- Developer applies for aparthotel permission after co-living plan rejected: Red Rock Developments has submitted fresh plans for 11-storey scheme in Foley Street in Dublin https://www.businesspost.ie/property/developer-applies-for-aparthotel-permission-after-co-living-plan-rejected-81816962
- Durkan secures green light for €60m apartment scheme in Crumlin: Dublin City Council to buy 28 of the units on the former Eason’s site for social housing https://www.irishtimes.com/business/retail-and-services/durkan-secures-green-light-for-60m-apartment-scheme-in-crumlin-1.4654291?mode=amp
- €45m development finally underway at former Moore’s Hotel site https://www.irishexaminer.com/property/commercial/arid-40366565.html?type=amp
- Cork event centre worth €80m ‘will still happen’, Coveney says: Public money of €50 million for the 6,000 seater facility remains intact, Minister says https://www.irishtimes.com/news/ireland/irish-news/cork-event-centre-worth-80m-will-still-happen-coveney-says-1.4653262?mode=amp
- Green light for plans for student accommodation complex in Cork city https://www.echolive.ie/corknews/arid-40364822.html
- Sweet-maker Ferrero oppose new hotel and home plan for Cork’s Airport Road: Nine-storey hotel and 134 home development planned for the site at Ballycurreen https://www.irishexaminer.com/property/developmentconstruction/arid-40366304.html?type=amp
- Viability issues hampering delivery of apartments in Cork City: Concerns are in spite of plans for a further 700 apartments on former dairy site https://www.irishexaminer.com/news/munster/arid-40366628.html
- Cork hotel granted permission to build holiday units on its grounds https://www.echolive.ie/corknews/arid-40365989.html
- Planners have approved the new ‘Galway City North’ scheme on 19 acres adjacent to the An Post distribution centre on the Tuam Road, and the Ballybrit and Parkmore industrial estates. https://connachttribune.ie/up-to-500-construction-jobs-to-be-created-in-new-city-north/amp/
- Plans to build 250 bed student accommodation in Westside https://www.galwaydaily.com/news/housing/westside-student-accommodation-plans/
- Farrell welcomes Corrib Great Southern Hotel’s demolition works starting next week https://www.galwaydaily.com/news/farrell-welcomes-corrib-great-southern-hotels-demolition-works-starting-next-week/
- Decision made on new student village for Limerick https://www.limerickleader.ie/news/home/658488/decision-made-on-new-student-village-for-limerick.html
- Plans for new Limerick hospital move forward: Planning permission for the hospital due to be lodged in November https://www.irishexaminer.com/property/planning/arid-40365593.html?type=amp
- A massive extension is in the pipeline for a North Kilkenny secondary school: While IT Carlow is also a step closer to getting a new science building https://kclr96fm.com/a-massive-extension-is-in-the-pipeline-for-a-north-kilkenny-secondary-school/
- Kildare hotel seeks permission for more bedrooms and retail units https://www.kildarenow.com/news/home/659035/kildare-hotel-seeks-permission-for-more-bedrooms-and-retail-units.html
- Large industrial site on outskirts of Newbridge on sale for €6 million: Great Connell Business Park: Fully serviced development land beside Pfizer and Dr Pepper plants https://www.kildarenow.com/news/local-news/658508/large-industrial-site-on-outskirts-of-newbridge-on-sale-for-6-million.html
- Another bundle of new homes for biggest Laois housing estate in Portlaoise https://www.leinsterexpress.ie/news/property/658855/another-bundle-of-new-homes-for-biggest-laois-housing-estate-in-portlaoise.html
- Planning permission granted for 125 new housing units in Thurles https://tippfm.com/news/planning-permission-granted-125-new-housing-units-thurles/
- Green light for multi million Euro development in Nenagh https://tippfm.com/news/tipperary-county-council/green-light-multi-million-euro-development-nenagh/
- Contract signed for €3M Content Creation Hub at Wicklow County Campus https://wicklownews.net/2021/08/contract-signed-for-e3m-content-creation-hub-at-wicklow-county-campus/
- THE Office of Public Works has lodged a planning application with Wexford County Council for a new multi-million euro investment in facilities at Rosslare Europort. https://m.independent.ie/regionals/wexford/news/massive-investment-on-the-cards-at-rosslare-europort-40780012.html
- Planning sought for 35 apartment development in Tralee https://www.radiokerry.ie/news/planning-sought-for-35-apartment-development-in-tralee-248452
- Grafton expects prices for construction materials to continue rising: Woodie’s owner reports record profits for first six month of 2021 https://www.irishtimes.com/business/construction/grafton-expects-prices-for-construction-materials-to-continue-rising-1.4655738?mode=amp
- Nine directors at architectural firm Henry J Lyons last year shared €5.4m: HJ Lyons Architects enjoyed record year as revenues increased by 19% to €36.2m in the 12 months to the end of September 2020 https://www.irishtimes.com/business/construction/nine-directors-at-architectural-firm-henry-j-lyons-last-year-shared-5-4m-1.4657273?mode=amp
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 *
- How a slower return to the office is making companies think outside the box: From managing office space to virtual-reality meetings, some interesting innovations may be just around the corner https://m.independent.ie/business/technology/how-a-slower-return-to-the-office-is-making-companies-think-outside-the-box-40788220.html
- Writech investors have ‘significant’ expansion plans for firm: The company provides fire protection systems to some of the world’s largest blue-chip companies across a range of sectors https://www.businesspost.ie/companies/writech-investors-have-significant-expansion-plans-for-firm-b9c1381b
- Rentible, a nextgen proptech platform making it possible for tenants and landlords to send and receive rent payments in different cryptocurrencies will be released for commercial use before the end of the year https://www.prnewswire.com/news-releases/rentible-decentralized-proptech-platform-set-for-commercial-release-in-q4-2021-301360611.html
- Zoopla-owned Proptech platform Yourkeys has launched what it calls a first-of-its-kind sales progression service for new-build shared ownership properties https://www.estateagenttoday.co.uk/breaking-news/2021/8/proptech-platform-adds-first-of-its-kind-sales-progression-feature
- Proptech startup funding on track to break real estate industry records in 2021: Real estate technology startup landscape has grown 300% over the past decade to nearly 8,000 companies https://www.us.jll.com/en/newsroom/proptech-startup-funding-on-track-to-break-real-estate-industry-records-in-2021
- Lomond Group has partnered with PropTech player Goodlord to provide IT services across the group’s brands, which include Braemore, Stonehouse, Linley & Simpson, Dale Eddison, Thornley Groves, John Shepherd, Brand Vaughan and Michael Jones. https://www.lettingagenttoday.co.uk/breaking-news/2021/8/multi-brand-agency-group-signs-up-with-proptech-company
- PropTech: Agents advised not to settle for ‘ordinary’ websites https://www.estateagenttoday.co.uk/breaking-news/2021/8/proptech-agents-advised-not-to-settle-for-ordinary-websites
- Proptech Plentific secures $100m Series C funding for US expansion: The company plans to further develop its tech to boost digitalisation across the property and facilities management space. https://www.siliconrepublic.com/start-ups/proptech-plentific-series-c-funding-us-expansion
- First Mile to Last Mile: Proptech and the Warehouse Shortage – What do companies do when they only need a few thousand square feet for storage and distribution? https://commercialobserver.com/2021/08/warehouse-technology-chunker-saltbox/
- Proptech Platform Dottid Aims at VTS With New Interface: Exclusive https://commercialobserver.com/2021/08/dottid-vts-leasing-management/
- 7 Reasons Why You Need To Switch To Digital Construction in 2022: Several digital technologies including machine learning, robotics, 3D priming, and building information modeling are ready to push you into the next normal for the years to come. https://www.forconstructionpros.com/construction-technology/article/21627464/projectpro-7-reasons-to-switch-to-digital-construction-in-2022
- ICON lands $207M Series B to construct more 3D-printed homes after seeing 400% YoY revenue growth – TechCrunch https://techcrunch-com.cdn.ampproject.org/c/s/techcrunch.com/2021/08/24/icon-lands-207m-series-b-to-construct-more-3d-printed-homes-after-400-yoy-revenue-growth/amp/
RESIDENTIAL PROPERTY NEWS (including PRS)
- EVENT: Ask the experts: We want to answer your key property questions: This one hour virtual event will feature plenty of tips and advice from people working at the coalface every day who have the expertise to help you navigate the choppy waters of #property https://www.irishexaminer.com/property/commercial/arid-40367108.html
- Irish house price inflation set to hit 12% before easing in 2022 https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/economy/house-price-inflation-expected-to-hit-12-before-falling-back-in-2022-1.4655269?mode=amp
- Almost €1.3 billion worth of mortgages approved in July https://www.breakingnews.ie/ireland/almost-e1-3-billion-worth-of-mortgages-approved-in-july-1176386.html
- We must attain a zero-carbon housing system to tackle climate crisis: Housing for All must build more energy-efficient social housing and up its rate of retrofitting while using our vacant and derelict buildings to deliver new homes in order to fight climate change https://www.irishexaminer.com/opinion/commentanalysis/arid-40365041.html?type=amp
- Housing For All policy to deliver social homes ‘on scale never seen before’ – O’Brien: Document to be launched next week with ‘massive emphasis on affordable housing’ https://www.irishtimes.com/news/politics/housing-for-all-policy-to-deliver-social-homes-on-scale-never-seen-before-o-brien-1.4657922?mode=amp
- “housing shortage is a chronic, systemic, politically toxic mess fuelled by greed and self-interest, complex and incompetent planning regulations and decades of tax mismanagement that … ultimately produced a dysfunctional market” https://www.westmeathindependent.ie/2021/08/22/the-housing-crisis-needs-more-than-just-supply/
- “I think it’s absolutely vile how Ireland treats people trying to buy houses. It’s just vile.” https://www-rsvplive-ie.cdn.ampproject.org/c/s/www.rsvplive.ie/news/celebs/rtes-blathnaid-treacy-feels-like-24821467.amp
- Ireland’s housing crisis just got personal: For a newly arrived FT correspondent, Dublin’s acute shortage of homes is more than just a news story https://amp.ft.com/content/1a7ee567-96a2-4bfd-8672-34a9c646ecf0
- Availability of affordable rental properties drops 20% in just three months https://www.breakingnews.ie/ireland/availability-of-affordable-rental-properties-drops-20-in-just-three-months-1176904.html
- Throwing away the key: why smaller landlords are leaving the rental market: Rent caps and high taxation are among the reasons why landlords with one apartment or house to rent are selling up in their droves https://www.businesspost.ie/houses/throwing-away-the-key-why-smaller-landlords-are-leaving-the-rental-market-3337a005
- Homeless crisis to worsen in coming months, Simon Community warns: Twin-track approach needed to increase social homes and improve prevention, Focus Ireland says https://www.irishtimes.com/news/ireland/irish-news/homeless-crisis-to-worsen-in-coming-months-simon-community-warns-1.4658003?mode=amp
- Government planning transfer of 1,400 social housing units to LDA: Transfer from Nama would secure State ownership of the homes https://www.irishtimes.com/news/social-affairs/government-planning-transfer-of-1-400-social-housing-units-to-lda-1.4653472?mode=amp
- Private capital in social housing is a good outcome for the State: Long-term lease arrangements leave State free to invest in other vital infrastructure https://www.irishtimes.com/business/economy/private-capital-in-social-housing-is-a-good-outcome-for-the-state-1.4652026?mode=amp
- Council rejects social housing lease deal for €135m Blackrock build-to-rent scheme: Figures show it would be €4m cheaper to purchase apartments rather than lease them https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/council-rejects-social-housing-lease-deal-for-135m-blackrock-build-to-rent-scheme-1.4656206?mode=amp
- Investors lease former social housing properties back to state: Homes in old council estates are being rented to South Dublin County Council, with no option to purchase at end of the 25-year agreement https://www.businesspost.ie/houses/investors-lease-former-social-housing-properties-back-to-state-87f002d5
- Landlords will have to meet a minimum energy rating for their rental properties from 2025 under new Government plans. https://m.independent.ie/business/personal-finance/property-mortgages/landlords-must-ensure-homes-meet-minimum-energy-rating-from-2025-40777282.html
- Peter McVerry Trust announces plan to deliver new social housing units in Longford https://www.longfordleader.ie/news/local-news/659173/peter-mcverry-trust-announces-plan-to-deliver-new-social-housing-units-in-longford.html
- Student housing in Dublin could be used for homeless accommodation: Vacant student blocks under consideration as alternative to hostel accommodation https://www.irishtimes.com/news/social-affairs/student-housing-in-dublin-could-be-used-for-homeless-accommodation-1.4653467?mode=amp
- Airbnb hosts in Ireland could face strict restrictions on short-term rentals: Housing Minister Darragh O’Brien is putting forward the new measures in a bid to address “an unprecedented scarcity of rental homes” in Ireland https://www.buzz.ie/news/irish-news/airbnb-restrictions-short-term-rentals-24819023.amp
- Airbnb exodus increases stock of rental property in Dublin by 90%: Reopening of tourism will place pressure on already strained rental market, agent warns https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/economy/airbnb-exodus-increases-stock-of-rental-property-in-dublin-by-90-1.4654155?mode=amp
- Can short-term let rules relieve the housing shortfall? https://amp.rte.ie/amp/1243392/
- Negative interest rates driving up prices of holiday homes: The coastal town of Lahinch has seen house prices reach record highs https://www.irishexaminer.com/property/residential/arid-40362680.html?type=amp
- Ireland’s empty towns: High housing demand belies County Clare’s dereliction problems https://www.irishexaminer.com/news/spotlight/arid-40367858.html?type=amp
- Josepha Madigan’s law firm sued by Pepper for allegedly failing to comply with a formal undertaking to register an AIB charge on a property, and then allowing a different owner to register a charge on it with another bank. https://www.thetimes.co.uk/article/madigans-law-firm-sued-over-property-charges-3sdcvx28d
- Can I still buy a property with my pension? https://www.leitrimobserver.ie/news/property/659603/can-i-still-buy-a-property-with-my-pension.html
- Landlord bins ‘no kitchen, no laundry’ Cork rental after backlash on social media: Flat hunters pointed to the listing as an example of how tough it is out there https://www.corkbeo.ie/news/property/landlord-bins-no-kitchen-no-21407828
- 20 short-term lets available for every rental listing in Killarney https://www.radiokerry.ie/amp/news/20-short-term-lets-available-for-every-rental-listing-in-killarney-248126
- A five-storey block is to be built beside my cottage and I fear it might damage it – Property Clinic: The developer’s surveyor should assess your property before and after construction https://www.irishtimes.com/life-and-style/homes-and-property/a-five-storey-block-is-to-be-built-beside-my-cottage-and-i-fear-it-might-damage-it-1.4650344?mode=amp
- O’Donnellan & Joyce launches September property auction https://www.advertiser.ie/galway/article/123837/odonnellan-joyce-launches-september-property-auction
- Sublime Kildare Georgian estate for €9.25m: Ballindoolin House, in Co Kildare, is on the market for only the third time in its 200-year history https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/sublime-kildare-georgian-estate-for-9-25m-1.4654237?mode=amp
COMMERCIAL PROPERTY NEWS
- Closed shops and offices illustrate challenge of reviving town centres: GeoView commercial property report estimates 13% vacancy rates due to pandemic https://www.irishtimes.com/business/commercial-property/closed-shops-and-offices-illustrate-challenge-of-reviving-town-centres-1.4656263
- Returning to the office isn’t as simple as choosing a date https://www.siliconrepublic.com/careers/return-to-office-future-of-work
- WeWork tweaks plans for ‘Office On Demand’: Covid dealt a near knockout blow to office working, but WeWork believes it can still thrive https://m.independent.ie/business/in-the-workplace/wework-tweaks-plans-for-office-on-demand-40795534.html
- Marginal increase in commercial vacancy rate https://amp.rte.ie/amp/1242847/
- Tech giants demand government support for expansion of data centres: The call by Google, Amazon and Microsoft comes as tensions have begun to emerge about the impact of data centres on Ireland’s energy security and climate goals https://www.businesspost.ie/energy/tech-giants-demand-government-support-for-expansion-of-data-centres-db50e803
- Taoiseach promised to ‘streamline’ planning for data centres: The government is planning to make it harder to challenge plans for such centres, predicted to use nearly a third of Ireland’s already stretched energy usage by 2029 https://www.businesspost.ie/energy/taoiseach-promised-to-streamline-planning-for-data-centres-dd523e52
- Editorial: Government must be honest about the gap between data centres and climate goals: While the government wants to continue its policy of supporting data centre expansion, it has to acknowledge the energy and climate implications of doing so https://www.businesspost.ie/business-posts-view/editorial-government-must-be-honest-about-the-gap-between-data-centres-and-climate-goals-4a93af8d
- Heavy downpour leads to partial collapse of Dunnes Stores ceiling in Dublin https://m.independent.ie/irish-news/heavy-downpour-leads-to-partial-collapse-of-dunnes-stores-ceiling-in-dublin-40774536.html
- Office of the Revenue Commissioners for sale at €36m: 84-93 Lower Mount Street comes with secure rental income and redevelopment potential https://www.irishtimes.com/business/commercial-property/office-of-the-revenue-commissioners-for-sale-at-36m-1.4655090
- The head offices of the global betting giant Flutter Entertainment in Clonskeagh are being readied for sale, as its landlord Spear Street Capital puts Belfield Office Park on the market https://www.thetimes.co.uk/article/bidders-under-starters-orders-for-flutter-hq-cwnckqdlr
- TikTok to tap up 1,500 workers for second Dublin HQ https://www.thetimes.co.uk/article/tiktok-to-tap-up-1-500-workers-for-second-dublin-hq-3j6dshffm
- From Dundrum to Liffey Valley: Landlord rent rows heat up in August – Hammerson, the UK property investor behind the Dundrum Town Centre, has narrowed its losses in its retail portfolio. But recent actions suggest it is taking a firm line on rent arrears. https://thecurrency.news/articles/57937/from-dundrum-to-liffey-valley-landlord-rent-rows-heat-up-in-august/
- Oaktree secures extension to €186m debt for purchase of The Square shopping centre: Loan deal shows retail woes now breaking through to banks https://www.independent.ie/business/commercial-property/oaktree-secures-extension-to-186m-debt-for-purchase-of-the-square-shopping-centre-40788084.html
- Eyre Square Shopping Centre at €12.75m offers buyer 7.34% yield: Landmark Galway city scheme anchored by retail giants Dunnes Stores and Penneys https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/eyre-square-shopping-centre-at-12-75m-offers-buyer-7-34-yield-1.4655119?mode=amp
- Tralee retail park has all the big names in situ for €55.2m: Manor West Shopping Park comes fully occupied, with a rent roll in excess of €5m https://www.irishtimes.com/business/commercial-property/tralee-retail-park-has-all-the-big-names-in-situ-for-55-2m-1.4654190?mode=amp
- Kicking off the store of the future: With the future of retail being omnichannel, Three Ireland has begun a major reimagining of its stores, designed around consumers’ unmet needs https://www.businesspost.ie/commercial-reports/kicking-off-the-store-of-the-future-e29e0a42
- A UK retailer has confirmed that it will open its new outlet in Tralee in October. https://www.radiokerry.ie/news/the-range-confirms-opening-date-for-tralee-248684
- Former religious residence offers scope for boutique hotel for €750,000: Twelve-bed Patrician Brothers property in Newbridge, Co Kildare, faces the River Liffey https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/former-religious-residence-offers-scope-for-boutique-hotel-for-750-000-1.4650964?mode=amp
- Avoca’s parent Aramark recorded €58m Irish loss in 2020 https://amp.rte.ie/amp/1242973/
- County Galway records 16.6% commercial property vacancy rate https://connachttribune.ie/county-galway-records-16-6-commercial-property-vacancy-rate/amp/
- Two Irish café properties have hit the market. https://www.hospitalityireland.com/amp/restaurant/two-irish-cafe-properties-hit-the-market-144624
INTERNATIONAL PROPERTY NEWS
- City giants fire starting gun on back to office push: As summer holidays end, business owners in strugging cities hope commuters will return. BT and others agree — and are starting to put on the squeeze https://www.thetimes.co.uk/article/city-giants-fire-starting-gun-on-back-to-office-push-wxd5g7rc3
- Off the edge of a cliff – UK transactions plummeted in July https://propertyindustryeye.com/off-the-edge-of-a-cliff-transactions-plummeted-in-july/
- Judgments bring some clarity on liquidated damages: Recent UK court rulings could prove helpful for the construction industry. Report by construction claims consultancy Arbicon. https://www.theconstructionindex.co.uk/news/view/judgments-bring-some-clarity-on-liquidated-damages
- PROPERTY sales across Spain have surged to levels not reached since before the crisis – and we are not talking about the pandemic but since the nation’s construction bubble burst back in 2008 with the onset of the global financial crisis: https://www.theolivepress.es/spain-news/2021/08/22/spains-property-sales-post-pandemic-reach-boom-peak-of-2007/
- Should sellers disclose a house’s dark secret? In some states it’s the law: Whether it is claimed to be haunted or was the site of a murder, a building with an unsavoury past can be a problem for buyers https://www.theguardian.com/business/2021/aug/27/sellers-disclose-stigmatised-haunted-house-law
- Jackie and John F. Kennedy’s Horse-Country Estate For Sale In Virginia https://fintechzoom.com/fintech_news_zillow/zillow-jackie-and-john-f-kennedys-horse-country-estate-for-sale-in-virginia/
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/