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

 

#SundayStrategy

 

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: 

 

• Recommended Sunday read: PAVING THE WAY: How the Irish construction industry pioneers made their lasting mark on Britain https://www.irishpost.com/life-style/paving-the-way-how-the-irish-construction-industry-pioneers-made-their-lasting-mark-on-britain-225685

 

• Oireachtas backs new planning process for large-scale residential developments: The Planning and Development (Amendment) (Large-scale Residential Development)Bill 2021 has passed all stages in the Dáil and Seanad and will now go to the president for signing https://www.irishlegal.com/articles/oireachtas-backs-new-planning-process-for-large-scale-residential-developments

 

• Legislation capping rent increases at 2% passed by both Houses of the Oireachtas https://www.gov.ie/en/press-release/6d865-legislation-capping-any-rent-increases-at-2-passed-by-both-houses-of-the-oireachtas/

 

• €250,000 overcharged rent has been returned to tenants by landlords after an investigation by the RTB. And the RTB, in a landmark move, has also begun to name and shame rogue landlords who breach rules on rent increases,  https://www.irishexaminer.com/news/arid-40763751.html

 

• ‘Cut VAT on new homes to 5pc and buyers will save almost €28,000’, economist claims  https://m.independent.ie/irish-news/news/cut-vat-on-new-homes-to-5pc-and-buyers-will-save-almost-28000-economist-claims-41128586.html 

 

• Rush to avail of fast-track planning regime for housing projects as deadline looms: Developers seek talks with An Bord Pleanála on dozens of large projects  https://www.irishtimes.com/news/ireland/irish-news/rush-to-avail-of-fast-track-planning-regime-for-housing-projects-as-deadline-looms-1.4747404

 

• Governor Gabriel Makhlouf reveals real estate fund fears: As heavily leveraged international players make up 40% of the commercial market, the Central Bank is eyeing new rules, https://www.thetimes.co.uk/article/governor-gabriel-makhlouf-reveals-real-estate-fund-fears-g0nhzdkmm

 

• Shifting sands of housing policy make it hard to build solid future: With demand continuing to outstrip supply, the state must smooth the path for development rather that creating yet more hurdles https://www.businesspost.ie/property-insight/shifting-sands-of-housing-policy-make-it-hard-to-build-solid-future-09f5cea3

 

• Investment market remains highly resilient in the face of Covid challenge: International investors drawn to economic fundamentals and attractive pricing https://www.irishtimes.com/business/commercial-property/investment-market-remains-highly-resilient-in-the-face-of-covid-challenge-1.4744136

 

• Wall of capital continues to chase the risk premium offered by Dublin property: Standout performers of the market this year are the living and logistics sectors https://www.irishtimes.com/business/commercial-property/wall-of-capital-continues-to-chase-the-risk-premium-offered-by-dublin-property-1.4745021

 

• Frothy prices will simmer down, and we have the key to boosting supply: The construction sector has risen admirably to the challenge of home-building, and would do more if only the government would allow it to do so, writes TJ Cronin of the Society of Chartered Surveyors Ireland https://www.businesspost.ie/property-insight/year-in-review-frothy-prices-will-simmer-down-and-we-have-the-key-to-boosting-supply-50f83a92

 

• Cost rental system could reduce rents by up to 60 per cent, report finds: The report, produced by a Brussels-based think tank for the Housing Agency, focused on cost rental case studies in three European countries https://www.businesspost.ie/houses/cost-rental-system-could-reduce-rents-by-up-to-60-per-cent-report-finds-f1732d60

 

• David McWilliams: My builder told me about ‘the inflationary climate’. It must be true: When a builder sounds like the IMF, inflation is definitely here. It could be no bad thing https://www.irishtimes.com/opinion/david-mcwilliams-my-builder-told-me-about-the-inflationary-climate-it-must-be-true-1.4752019

 

• Analysis: Will increased supply rein in house prices? Canada has tried to solve housing affordability problems with more supply. The supply came, the promised drop in house prices did not materialise  https://www.businesspost.ie/houses/analysis-will-increased-supply-rein-in-house-prices-5ea3ae1a

 

• Tenants feel squeeze as 46 landlords a week left market in the autumn: Tenants feel the squeeze as people decide to cash in on their properties https://m.independent.ie/news/tenants-feel-squeeze-as-46-landlords-a-week-left-market-in-the-autumn-41121495.html

 

• The RTB is continuing to fail landlords in Ireland – a fair balance of rights AND responsibilities for BOTH landlords and tenants is urgently needed: Thurles landlord smashes windows in feud with ‘tenants from hell’ https://www.tipperarylive.ie/news/crime—courts/705700/thurles-landlord-smashes-windows-in-feud-with-tenants-from-hell.html

 

• An entire generation feel hopeless: Stories from Ireland’s rental crisis  https://www.her.ie/amp/life/an-entire-generation-of-renters-feel-hopeless-539565

 

• ‘Rights of way’ guarantee for Limerick home and landowners in new law https://www.limerickleader.ie/news/home/706160/rights-of-way-guarantee-for-limerick-home-and-landowners-in-new-law.html

 

• Housing crisis increases risk for victims of human trafficking – report: Sexual exploitation continued ‘unabated’ throughout pandemic  https://www.irishtimes.com/news/social-affairs/housing-crisis-increases-risk-for-victims-of-human-trafficking-report-1.4751399

 

• Three fined after worker killed by falling excavator attachment in Northern Ireland https://www.constructionnews.co.uk/health-and-safety/three-fined-after-worker-killed-by-falling-excavator-attachment-10-12-2021/

 

• Dispute over plot of land’s postal address is dismissed by High Court  https://www.breakingnews.ie/amp/ireland/dispute-over-plot-of-lands-postal-address-is-dismissed-by-high-court-1226162.html

 

• Letting agent stole nearly €70,000 to fund gambling addiction, court told: Bank details were changed in order to divert refunds due to be paid by employer to clients https://www.irishtimes.com/news/crime-and-law/courts/circuit-court/letting-agent-stole-nearly-70-000-to-fund-gambling-addiction-court-told-1.4749351

 

• ‘A wake up call to the industry’: the artist homes blazing a trail for affordable UK housing: Filled with light and designed around community living, A House for Artists in east London is designed to soften the impact of gentrification https://www.theguardian.com/artanddesign/2021/dec/09/made-in-dagenham-the-artist-homes-designed-to-slow-gentrification

 

• How Can Concrete Construction and Sustainability Truly Coexist? https://www.archdaily.com/972406/how-can-concrete-construction-and-sustainability-truly-coexist

 

• Twelve buildings that demonstrate the breadth of shipping-container architecture https://www.dezeen.com/2021/12/03/shipping-container-architecture-buildings/

 

• Visualizing the Accumulation of Human-Made Mass on Earth https://www.visualcapitalist.com/visualizing-the-accumulation-of-human-made-mass-on-earth/ (pictured below)

 

• 5 Ways Cryptocurrency Will Change the World of Commercial Real Estate: Cryptocurrency has infiltrated just about every industry on the planet, including commercial real estate, and that’s a good thing.  https://www.entrepreneur.com/article/397259

 

 

 

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

Property Matters: Ireland’s first weekly property radio show and podcast, which launched in January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com), returned last month for a fourth season. The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech.

 

Season 4, Episode 12: Property Matters, December 7th – John Moran – Placemaking & Local Government Reform

This week we chat to John A Moran of #LiveableLimerick and former Chair of the LDA to discuss placemaking, local government reform and what lessons from the financial crisis might be applied to Ireland’s current housing crisis

Watch along at: https://youtu.be/Sd9U_TDaZJ4

 

*Listen back to this and all shows at: https://ipropertyradio.com  

Email the Property Matters team at info@propertydistrict.ie 

 

 

Also, om Newstalk:  

Home-buyers got almost €210m from ‘bank of mum and dad’ in first half of 2021 | Property District CEO Carol Tallon told Newstalk Breakfast that some people are paying back the money they get from their parents.  https://www.newstalk.com/news/almost-e210m-gifted-to-home-buyers-to-fund-house-deposits-in-first-half-of-2021-1286537

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• Dublin whitewater rafting plans set to be scrapped  https://amp.rte.ie/amp/1265138/ (pictured)  

 

 

• Dublin Metrolink: Second entrance added to plans at Charlemont stop – Exclusive: Residents affected by the construction at new entrance to be ‘will be given the opportunity to relocate’ https://www.dublinlive.ie/news/dublin-metrolink-second-entrance-added-22418434

 

• Local resident brings court action against Howth apartment scheme: Action is aimed at quashing fast-tracked permission for more than 100 apartments https://www.irishtimes.com/news/crime-and-law/courts/high-court/local-resident-brings-court-action-against-howth-apartment-scheme-1.4748433

 

• Dart to Maynooth approved by Government: Application to be lodged with An Bord Pleanála next year https://www.irishtimes.com/news/ireland/irish-news/dart-to-maynooth-approved-by-government-1.4749471

 

• Have you a vision for Cork City in 2101? Engineers Ireland seeks future creative and sustainable visions for city and harbour/river crossing https://www.irishexaminer.com/property/commercial/arid-40762053.html

 

• New park in Cork city to open to the public from Monday: The new park features expanses of green space, water features, lighting, seating, new pathways, bridges. and upgraded public parking near Shandon Boat Club. https://www.echolive.ie/corknews/arid-40763781.html

 

• West Cork town to share in €26m grant towards revamping town centres/ The grants are for plans to tackle dereliction, improve amenities and generally brighten up town centres. https://www.corkbeo.ie/news/local-news/west-cork-town-share-26m-22409488

 

• Plans for Galway City Ring Road given green light https://amp-rte-ie.cdn.ampproject.org/c/s/amp.rte.ie/amp/1265402/

 

• Details of preferred route corridor for Athlone – Galway Greenway emerge  https://connachttribune.ie/details-of-preferred-route-corridor-for-athlone-galway-greenway-emerge/

 

• ‘Eyesore, ruin, disgrace’ – action demanded at Laois council owned landmark: Luxurious Celtic Tiger apartment block never materialised  https://www.leinsterexpress.ie/news/property/706473/eyesore-ruin-disgrace-action-demanded-at-laois-council-owned-landmark.html

 

• Action group fundraising for High Court challenge of Carrick-on-Suir Regeneration Plan: Councillor urged council to ‘scrap’ regeneration scheme plan and start again before vote https://www.tipperarylive.ie/news/home/706130/action-group-fundraising-for-high-court-challenge-of-carrick-on-suir-regeneration-plan.html

 

• ‘A great shame’ – fears over fate of Knocklofty House after vandalism https://m.independent.ie/irish-news/a-great-shame-fears-over-fate-of-knocklofty-house-after-vandalism-41124659.html

 

 

*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* https://www.youtube.com/watch?v=rdwwKy4MA_4 

 

 

CONSTRUCTION & DEVELOPMENT NEWS

• Slump in planning permissions raises alarm of worsening housing crisis: It had been expected permissions would have increased significantly this year, given the country was in lockdown over long periods in 2020 https://www.irishexaminer.com/business/economy/arid-40763604.html

 

• Concern at 10,300 craft apprentices awaiting off-the-job education training according to figures released from the Department of Further and Higher Education, Research, Innovation and Science https://wicklownews.net/2021/12/td-brady-hits-out-at-10300-apprenticeship-training-backlog/

 

• This Working Life: LES construction course helping trainees build a future – A new community course is addressing the chronic staff shortage in the construction sector – and giving participants a career along the way https://www.businesspost.ie/world-at-work/this-working-life-les-construction-course-helping-trainees-build-a-future-51661236

 

• Blackstone agrees €400m purchase of stake in Facebook’s Dublin 4 HQ: Deal for blocks at Ballsbridge campus subject to approval from competition authority https://www.irishtimes.com/business/commercial-property/blackstone-agrees-400m-purchase-of-stake-in-facebook-s-dublin-4-hq-1.4749137

 

• Chartered Land lines up €200m Dublin funding deal: Developer in discussions to secure forward funding for what would be the city’s tallest residential tower https://reactnews.com/article/chartered-land-lines-up-e200m-dublin-funding-deal/?utm_source=React%20News%20-%20News%20Alerts&utm_campaign=c888329b1f-EMAIL_CAMPAIGN_2021_12_09_08_31&utm_medium=email&utm_term=0_b0728480f9-c888329b1f-434457076&mc_cid=c888329b1f&mc_eid=40ba4368be

 

• Demolition of Kiely’s in Donnybrook given green light: In total, 10 separate appeals were lodged on behalf of third party objectors https://www.irishtimes.com/business/construction/demolition-of-kiely-s-in-donnybrook-given-green-light-1.4749014 (pictured)

 

• Build-to-rent plans for Dún Laoghaire yellow brick house: Developer wants to remove roof and add four storeys to protected 19th-century property https://www.irishtimes.com/culture/heritage/build-to-rent-plans-for-d%C3%BAn-laoghaire-yellow-brick-house-1.4747370

 

• Citywest Hotel refused permission to stage public concerts: An Bord Pleanála said the owners failed to address concerns around potential traffic congestion  https://www.businesspost.ie/Planning/citywest-hotel-refused-permission-to-stage-public-concerts-09129f0b

 

• Aldi and Lidl announce separate multi-million euro investments in Cork: The store will bring up to 25 permanent new jobs to Kanturk after planning permission for the supermarket was secured. https://www.irishexaminer.com/business/companies/arid-40760073.html

 

• Permission granted for 100-bed nursing home and 47 independent living units at multi-million euro site in Cork: The nursing home will cater for up to 100 residents while there’ll be 20 houses and 27 apartments focusing on independent living https://www.corkbeo.ie/news/local-news/permission-granted-100-bed-nursing-22422561

 

• Ten storey apartment block planned for Douglas is refused permission https://www.irishexaminer.com/property/developmentconstruction/arid-40762347.html

 

• ‘New town’ in East Cork with plans for 284 homes, medical centre, creche, cafe and more: The apartments would be split between five and six-storey blocks https://www.corkbeo.ie/news/local-news/new-town-east-cork-plans-22423011

 

• An Bord Pleanála refuses permission for 74 unit Kingston development https://galwaybayfm.ie/galway-bay-fm-news-desk/an-bord-pleanala-refuses-permission-for-74-unit-kingston-development/

 

• Huge Galway housing development planned near M6 with cafe and shops: Plans would include the refurbishment of a protected heritage building https://www.galwaybeo.ie/news/galway-news/huge-galway-housing-development-planned-6320686

 

• Plans to convert city centre apartments to apart-hotel  https://www.galwaydaily.com/news/plans-to-convert-city-centre-apartments-to-apart-hotel/

 

• Demand for €112,000 vacant site levy in Renmore upheld – Galway Daily https://www.galwaydaily.com/news/demand-for-e112000-vacant-site-levy-in-renmore-upheld/

 

• An Bord Pleanála allow development at Castletown Rd in Dundalk: Bridge Store at Castletown Road https://www.dundalkdemocrat.ie/news/home/706104/an-bord-pleanala-allow-development-at-castletown-rd-in-dundalk.html

 

• Further extension granted to planning permission for 257 homes in Dundalk: 257 home development at Haynestown https://www.dundalkdemocrat.ie/news/home/706693/further-extension-granted-to-planning-permission-for-257-homes-in-dundalk.html

 

• Planning permission sought for construction of 23 houses in Cootehill  https://www.northernsound.ie/news/planning-permission-sought-for-construction-of-23-houses-in-cootehill-186126

 

• Plans for new Longford housing development  https://www.longfordleader.ie/news/home/706902/plans-for-new-longford-housing-development.html

 

• Welcome boost in addressing Mayo’s housing waiting list  https://www.con-telegraph.ie/2021/12/09/welcome-boost-in-addressing-mayos-housing-waiting-list/

 

• Amended Proposals For Major Midlands Housing Development Labelled ‘Pie In The Sky’  https://www.midlands103.com/news/midlands-news/amended-proposals-for-major-housing-development-in-midlands-labelled-pie-in-the-sky/

 

• Killarney holiday apartments to be converted into private homes despite objections: The apartments within the grounds of the Hotel Killarney, won An Bord Pleanála approval to convert the holiday apartments into residential units https://www.irishexaminer.com/news/munster/arid-40762383.html

 

• Planning permission being sought for 18 apartments in Tralee  https://www.radiokerry.ie/news/planning-permission-being-sought-for-18-apartments-in-tralee-261736

 

• Foreman fined after workers were exposed to asbestos at Dublin site  https://www.breakingnews.ie/amp/ireland/foreman-fined-after-workers-were-exposed-to-asbestos-at-dublin-site-1226257.html

 

• ESG revolution is driving sustainable growth at i3PT – Environmental, Social and Governance criteria are becoming prerequisites for investment and i3PT is advising some of the world’s biggest companies on how best to meet their targets.  https://www.businesspost.ie/commercial-reports/esg-revolution-is-driving-sustainable-growth-at-i3pt-82cfc2f4

 

• Kingspan questioned by building regulator after insulation board removed from Dublin property: Developer Cosgrave Property Group was paid substantial compensation for having to replace insulation product supplied by Cavan firm https://www.businesspost.ie/construction/kingspan-questioned-by-building-regulator-after-insulation-board-removed-from-dublin-property-ab2fc94d

 

• Balfour Beatty-backed joint venture that had a €500m contract with Gas Networks Ireland narrowed its losses to just €13,000 last year. But the better performance was due to additional agreements sealed with the semi-state company that offset losses in the latter half of 2020 https://m.independent.ie/business/irish/support-deal-with-semi-state-cuts-losses-at-balfour-beatty-joint-venture-41136096.html

 

• Courtroom drama of family ties, broken trust, blank cheques and a ‘phoenix company’: The case of cousins Alan and Frank Hynes who are accused of fraudulent and reckless trading heard allegations of ‘extraordinary’ spending, a ‘sham company’, ‘forged’ financial documents, ‘bogus’ loans and a ‘witch-hunt’ https://www.businesspost.ie/legal/courtroom-drama-of-family-ties-broken-trust-blank-cheques-and-a-phoenix-company-597cb6f0

 

• CRH ‘ready to sell Oldcastle glass unit’ for a reported $3bn  https://m.independent.ie/business/world/crh-ready-to-sell-oldcastle-glass-unit-for-a-reported-3bn-41128344.html Also: CRH boss Manifold keeps his lieutenants – and critics – on their toes: Joe Brennan: Shares in the company are up almost 70% in two years https://www.irishtimes.com/business/construction/crh-boss-manifold-keeps-his-lieutenants-and-critics-on-their-toes-1.4752202

 

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 * 

 

• “Where valuations are at an all-time high, it’s really time to sell, and I’m a great believer in trying to buy businesses when the market is down. And we are in an ‘up’ cycle at the moment and . . . if there’s a window grab it.” https://www.irishtimes.com/business/sell-sell-sell-says-denis-o-brien-1.4752444

 

• Integrated Facilities Solutions (IFS), the Dublin-based provider of digital asset management solutions for infrastructure and real estate, has announced it is to expand its operations into the US, UK, and Scandinavia with the recruitment of 100 new staff over the next three years. https://irishbuildingmagazine.ie/2021/12/09/integrated-facilities-solutions-ifs-announces-global-expansion-with-creation-of-100-jobs/

 

• Auctioneers at home in the digital space  https://www.businesspost.ie/property/year-in-review-auctioneers-at-home-in-the-digital-space-afd976a0

 

• Smart cities are the building blocks for smarter societies: Fast-paced digital transformation with citizens and sustainability at its centre will ensure a bright future for our increasingly connected society https://www.businesspost.ie/commercial-reports/smart-cities-are-the-building-blocks-for-smarter-societies-204b6448

 

• How The Proptech Ecosystem Is Evolving – TechRound https://techround.co.uk/proptech/how-the-proptech-ecosystem-is-evolving/

 

• PlaceTech | Investment in UK proptech quadruples in 2021 https://placetech.net/news/investment-in-uk-proptech-quadruples-in-2021/

 

• The state of European tech 2021: 21 things you should know – With more than 400 charts in Atomico’s State of European Tech report this year, there’s a lot to digest. Here are the best bits. https://sifted.eu/articles/european-tech-2021-atomico/

 

• The presents agents need for Christmas to improve their business in 2022  https://www.estateagenttoday.co.uk/features/2021/12/here-are-the-presents-agents-need-for-christmas-to-improve-their-business-in-2022

 

• PlaceTech | JLL turns hunt for industrial space into digital experience https://placetech.net/news/jll-turns-hunt-for-industrial-space-into-digital-experience/

 

• What is PropTech & 5 things to keep in mind before investing  https://itmunch.com/what-is-proptech-evolution-5-things-to-keep-in-mind-before-investing/

 

• Proptech adoption only in “second or third inning”: Developer blames failure of leadership for slow return to offices, says tech instrumental to commercial recovery  https://therealdeal.com/2021/12/09/rxrs-rechler-proptech-adoption-only-in-second-or-third-inning/

 

• RESEARCHERS USE RECYCLED GLASS TO DEVELOP NEW ECO-FRIENDLY 3D PRINTABLE CONCRETE https://3dprintingindustry.com/news/researchers-use-recycled-glass-to-develop-new-eco-friendly-3d-printable-concrete-200598/

 

• How industrialised construction will change the nature of construction disputes  https://www.newcivilengineer.com/latest/how-industrialised-construction-will-change-the-nature-of-construction-disputes-06-12-2021/

 

• Digital Innovation Reshapes the Construction Industry  https://emag.archiexpo.com/digital-innovation-reshapes-the-construction-industry/

 

• Big players join race to back new hot properties in technology: Investment in property technology has reached record levels as the industry seeks to harness enthusiasm for the sector. https://www.thetimes.co.uk/article/big-players-join-race-to-back-new-hot-properties-in-technology-0kpttjcqh

 

• Office Tech’s Physical Footprint Shrinks as Its Impact Grows: The internet of things and power over ethernet are driving miniaturization in proptech — and the cost to users is diminishing too https://commercialobserver.com/2021/12/office-tech-miniaturization-proptech/

 

• New York City selects JLL Technologies for proptech pilot program – New York Business Journal https://www.bizjournals.com/newyork/news/2021/12/08/nyc-selects-partner-for-proptech-pilot-program.html

 

• Proptech firm MeetElise secures $23.5M in Series B funding – AIM Group https://aimgroup.com/2021/12/07/proptech-meetelise-secures-23-5-million-in-series-b-funding/

 

• Real Estate Technology Focused Fund: Interview with Kunal Lunawat co-founder & Managing Partner of Agya Ventures. – TechBullion https://techbullion.com/real-estate-technology-focused-fund-interview-with-kunal-lunawat-co-founder-managing-partner-of-agya-ventures/

 

• Future City: Proptech unicorns multiplying – The Real Deal https://therealdeal.com/2021/12/07/future-city-proptech-unicorns-multiplying/

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• Warning signs of property price inflation: Overheating market https://www.irishexaminer.com/opinion/ourview/arid-40761402.html 

 

• Ireland’s 10 top property sales of 2021, inside and outside Dublin: More than 800 sales of €1m or more were recorded this year, including one for €13.25m https://www.irishtimes.com/life-and-style/homes-and-property/ireland-s-10-top-property-sales-of-2021-inside-and-outside-dublin-1.4749226

 

• What property experts say: Price growth likely to moderate in 2022: Strong housing demand expected to push high prices as supply issues keep biting https://www.irishtimes.com/life-and-style/homes-and-property/what-property-experts-say-price-growth-likely-to-moderate-in-2022-1.4748260

 

• Dublin’s private rented sector proves to be investors’ choice: National and local government interference undermining efforts to deliver more housing https://www.irishtimes.com/business/commercial-property/dublin-s-private-rented-sector-proves-to-be-investors-choice-1.4743957

 

• New study ranks Dublin in top ten most expensive cities for housing  https://amp.extra.ie/2021/12/06/property/dublin-high-housing-costs-global-study

 

• The 10 most expensive properties on sale in Ireland right now https://amp.extra.ie/2021/12/11/property/most-expensive-properties-ireland

 

• First-time buyers need deposits of €52,500 as house prices rise: Report says higher property values are driving deposit amounts  https://www.irishtimes.com/business/economy/first-time-buyers-need-deposits-of-52-500-as-house-prices-rise-1.4748311

 

• Bank of Mum and Dad loans millions to first-time buyers: Buyers under pressure from shortage of properties to buy and from surging prices https://m.independent.ie/business/personal-finance/property-mortgages/bank-of-mum-and-dad-loans-millions-to-first-time-buyers-41125179.html

 

• Was it ever any other way? ‘The Irish Times view on the housing crisis: The Bank of Mum & Dad – The scales are tipped against buyers who don’t have some family cash’ https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-the-housing-crisis-the-bank-of-mum-dad-1.4752139

 

• Central Bank signals it is reluctant to relax mortgage loan limits  https://m.independent.ie/irish-news/central-bank-signals-it-is-reluctant-to-relax-mortgage-loan-limits-41136377.html

 

• First Citizen reports 2020 loss as it weighs mortgage market entry: Rival Dilosk sees consildated loans more than double to €566m, new figures show https://www.irishtimes.com/business/financial-services/first-citizen-reports-2020-loss-as-it-weighs-mortgage-market-entry-1.4752363

 

• Making the mortgage market fairer is essential to helping young people get on with their adult lives  https://www.thetimes.co.uk/article/making-the-mortgage-market-fairer-is-essential-to-helping-young-people-get-on-with-their-adult-lives-5mjjjnfsb

 

• Briefing notes for Donohoe on housing omitted crucial details: Records released under FOI reveal that Dept of Finance officials cherry-picked data relating to residential vacancy rates https://www.businesspost.ie/houses/briefing-notes-for-donohoe-on-housing-omitted-crucial-details-ed7d3390

 

• Derelict site registers missing key details amid calls for greater transparency: Less than half of local authorities in Ireland don’t have a register available online https://www.businesspost.ie/houses/derelict-site-registers-missing-key-details-amid-calls-for-greater-transparency-37870eb3

 

• AIB launches new €500m Social Housing Fund  https://amp.rte.ie/amp/1265033/

 

• Dublin Lord Mayor to tell Housing Minister that HAP scheme should include a deposit for tenants: Alison Gilliland said funding an initial deposit could be key to keeping many people out of homeless services. https://www.thejournal.ie/lord-mayor-hap-5622619-Dec2021/

 

• Retrofitting a second-hand home could cost €70,000, says Glenveagh boss: Outlay would bring home up to A-rated standard  https://www.irishtimes.com/business/construction/retrofitting-a-second-hand-home-could-cost-70-000-says-glenveagh-boss-1.4750284

 

• Housing squeeze not going away for buyers, and could get worse for renters: Smart Money: New forecasts show particular affordability problems for renters in coming years https://www.irishtimes.com/business/economy/housing-squeeze-not-going-away-for-buyers-and-could-get-worse-for-renters-1.4751059

 

• Small landlords tot up cost of Ireland’s rent pressure zone caps: Letting out a flat or house in the capital can leave little room for profit when investors are unable to charge the market rate https://www.thetimes.co.uk/article/small-landlords-tot-up-cost-of-irelands-rent-pressure-zone-caps-tx6t6blnz

 

• Year in review: Online platforms taking ever bigger bite of the market – After a rollercoaster of a year, the market looks set to see demand continuing to outstrip supply https://www.businesspost.ie/property-insight/year-in-review-online-platforms-taking-ever-bigger-bite-of-the-market-bc60d927

 

• Strong house price inflation seen this year set to continue: House prices are rising sharply nationwide as rents increase, interest rates stay low and builders struggle to keep up with demand https://www.businesspost.ie/residential/year-in-review-strong-house-price-inflation-seen-this-year-set-to-continue-43eb0ca1

 

• Country homes call to city slickers as pandemic changes priorities: Covid-19 has given an unexpected boost to the market as the option to work from home and lockdown fatigue sent people in search of a different lifestyle  https://www.businesspost.ie/property-insight/year-in-review-country-homes-call-to-city-slickers-as-pandemic-changes-priorities-3dc5776b

 

• Many buyers contemplating a move to the country: Despite ongoing restrictions that resulted in some virtual auctions, 2021 was a successful year for Coonan with strong sales of countryside homes, farmland sales and development land https://www.businesspost.ie/property/year-in-review-many-buyers-contemplating-a-move-to-the-country-718f6129

 

• On the Market: your weekly guide to homes for sale around the country – A detached stone house close to Carrickmacross in Co Monaghan and a five-bed home on an elevated corner site in Co Louth are among the residences on sale this week  https://www.businesspost.ie/residential/on-the-market-your-weekly-guide-to-homes-for-sale-around-the-country-f80daaac

 

• One of West Cork’s finest luxury homes finally sells for over €3 million: The impressive Georgian mansion in one of Ireland’s most scenic spots went ‘sale agreed’ this week https://www.corkbeo.ie/news/property/one-west-corks-finest-luxury-22381126 (picture)

 

• We need to get over our bungalow bias and embrace their sustainable potential  https://m.independent.ie/opinion/comment/we-need-to-get-over-our-bungalow-bias-and-embrace-their-sustainable-potential-41124564.html (pictured)

 

• Couple raffling Dublin apartment ‘for price of haircut’ to donate €100,000 to mental health charities https://www.dublinlive.ie/news/dublin-news/couple-raffling-dublin-apartment-for-22413714.amp

 

• Letters to the Editor: House sellers should set an ‘asking price’ they’ll accept https://www.irishexaminer.com/opinion/yourview/arid-40763886.html

 

• Revealed: The home interiors trends for 2022 https://www.irishexaminer.com/property/homeandoutdoors/arid-40763187.html

 

• Also: Dezeen’s top 10 home interiors of 2021  https://www.dezeen.com/2021/12/07/home-interiors-review-2021/

 

• Thinking outside the box on owning your home  https://m.independent.ie/business/personal-finance/thinking-outside-the-box-on-owning-your-home-41141174.html

 

 

COMMERCIAL PROPERTY NEWS

• Fundamentals for commercial property market remain positive: Inflow of investors expected to continue as inflation rears its head https://www.irishtimes.com/business/commercial-property/fundamentals-for-commercial-property-market-remain-positive-1.4745035

 

• Commercial property investment market set to enjoy second strongest year ever: Irish commercial real estate on course for €5bn spend as relative value draws investors https://www.irishtimes.com/business/commercial-property/commercial-property-investment-market-set-to-enjoy-second-strongest-year-ever-1.4744993

 

• The year in review (Lisney): Irish real estate back in rude health for 2022 – Lockdowns and restrictions have slowed growth for two years, but market turnover reached €3 billion by the end of Q3 and is set to comfortably reach €4.5 billion by the end of the year https://www.businesspost.ie/property-insight/the-year-in-review-irish-real-estate-back-in-rude-health-for-2022-88b305ba?auth=login

 

• Year in review (CBRE): Sheds, beds, meds and more – There are plenty of reasons to be optimistic as we head into 2022, but Covid-19 continues to pose a huge challenge to the industry  https://www.businesspost.ie/property-insight/year-in-review-sheds-beds-meds-and-more-b059f1f2

 

• Year in review (Savills): Market proves resilient despite impact of Covid and Brexit: There was exceptional growth in real estate in 2021, due to unprecedented global monetary stimulus and a sturdy domestic economy https://www.businesspost.ie/property-insight/year-in-review-market-proves-resilient-despite-impact-of-covid-and-brexit-a8aa3516

 

• Year in review (Harvey): Industrial and logistics market on a steady, sustainable path – The future of industrial and logistics property looks bright, but challenges are likely in 2022 https://www.businesspost.ie/property-insight/year-in-review-industrial-and-logistics-market-on-a-steady-sustainable-path-4364e78b

 

• Year in review (QRE): Investment market statistics do not tell the whole story: Amid the general market optimism, the sub €20 million sector is still struggling, but it is set to recover – and rebound – in the coming year https://www.businesspost.ie/property-insight/year-in-review-investment-market-statistics-do-not-tell-the-whole-story-ef8f02a2

 

• Year in review (BNP Paribas Real Estate): PRS and logistics show star quality in a difficult year  https://www.businesspost.ie/property/year-in-review-prs-and-logistics-show-star-quality-in-a-difficult-year-c30a2371

 

• Year in review (Colliers): Next year will bring the return of the large-scale office campus: Dublin office market has turned a corner, but flexibility will be key in 2022 https://www.businesspost.ie/property-insight/year-in-review-next-year-will-bring-the-return-of-the-large-scale-office-campus-71405478

 

• Top 10 commercial property deals of 2021: This year is shaping up to be an extraordinary one for investment in Ireland’s real estate sector https://www.irishtimes.com/business/commercial-property/top-10-commercial-property-deals-of-2021-1.4748267

 

• Prospects for office market strengthen as hybrid working takes hold: Companies still need offices – but they will be used and occupied in a different way https://www.irishtimes.com/business/commercial-property/prospects-for-office-market-strengthen-as-hybrid-working-takes-hold-1.4745066

 

• City’s office sector set to ring in the changes: After the work from home revolution in 2020, Dublin’s property market is facing a boom time in the new year with high demand from tech companies  https://www.thetimes.co.uk/article/citys-office-sector-set-to-ring-in-the-changes-x20k9h228

 

• Private equity takes centre stage in industrial and logistics sector: Shortage of zoned land a real concern for future development in southwest Dublin https://www.irishtimes.com/business/commercial-property/private-equity-takes-centre-stage-in-industrial-and-logistics-sector-1.4745051

 

• Hotel sector checks out of 2021 with renewed optimism for the year to come: Tourism stands to benefit from the release of excess household savings across the globe https://www.irishtimes.com/business/commercial-property/hotel-sector-checks-out-of-2021-with-renewed-optimism-for-the-year-to-come-1.4744957

 

• Temple Bar’s Bad Ass café guiding at €1.3m: Sale of Dublin landmark offers opportunity to acquire fully-licensed restaurant  https://www.irishtimes.com/business/commercial-property/temple-bar-s-bad-ass-caf%C3%A9-guiding-at-1-3m-1.4747241

 

• Future for Arnotts and Brown Thomas unclear within £4bn deal: Thai-based Central Group may buy Dublin outlets with London parent Selfridges https://www.irishtimes.com/business/retail-and-services/future-for-arnotts-and-brown-thomas-unclear-within-4bn-deal-1.4748412 (pictured) 

 

• Who are the ‘serious people’ making a play for Brown Thomas and Arnotts? Retail maverick Vittorio Radice involved in Thai group behind bid for Irish stores https://www.irishtimes.com/business/retail-and-services/who-are-the-serious-people-making-a-play-for-brown-thomas-and-arnotts-1.4751126

 

• Mercantile owners bet on city pub trade bounce-back https://m.independent.ie/business/irish/mercantile-owners-bet-on-city-pub-trade-bounce-back-41124506.html

 

• Five Irish pub properties have hit the market  https://www.hospitalityireland.com/amp/pub-bar-nightclub/five-irish-pub-properties-hit-the-market-3-155636

 

• Citywest Shopping Centre is sold in €50 million deal https://www.echo.ie/citywest-shopping-centre-is-sold-in-e50-million-deal

 

• Planning permission for expansion of Galway City Penneys https://www.galwaydaily.com/news/planning-permission-for-expansion-of-galway-city-penneys/

 

• Property investment in AIB and Kerryman heritage building ‘a vote of confidence’ in Tralee: Private investor spends €1.5m on pension property with annual income close to €160,000  https://www.irishexaminer.com/property/commercial/arid-40762035.html

 

• Kerry Hotel where roof partially collapsed in Storm Barra the subject of court proceedings: It is alleged Bank of Ireland gave up its lease of a ground floor unit on health and safety grounds due to the substantial water ingression  https://www.irishexaminer.com/news/courtandcrime/arid-40763721.html

 

INTERNATIONAL PROPERTY NEWS

• A forecast on the UK real estate market in 2022 https://www.propertyinvestortoday.co.uk/breaking-news/2021/12/a-forecast-on-the-uk-real-estate-market-in-2022?source=newsticker

 

• UK housebuying in 2021 poised to be busiest since 2006 | Housing market | The Guardian https://amp.theguardian.com/business/2021/dec/06/uk-housebuying-2021-busiest-since-2006-sales-slump-covid

 

• UK house prices rise at fastest pace in 15 years https://www.irishtimes.com/business/commercial-property/uk-house-prices-rise-at-fastest-pace-in-15-years-1.4749355

 

• Why I regret my pandemic panic property purchase: The newest UK property trend — families fleeing back to the city after making the most expensive mistake of their lives https://www.thetimes.co.uk/article/why-i-regret-my-pandemic-panic-property-purchase-rjfz0lqr8

 

• Construction slowdown holds back recovery https://www.thetimes.co.uk/article/construction-slowdown-holds-back-recovery-z5lttbkw7 

 

• UK construction workforce lost 175,000 last year https://www.theconstructionindex.co.uk/news/view/construction-workforce-lost-175000-last-year

 

• The UK’s big five MMC builders have teamed up to form a new trade body to accelerate the growth of the modular sector. https://www.constructionenquirer.com/2021/12/09/big-five-modular-builders-form-trade-body/

 

• What if Old Buildings Are Greener Than New Ones? A new way of assessing sustainability takes into account a structure’s entire history and future, not just its energy bill. https://slate.com/business/2021/12/tulip-embodied-carbon-sustainability-old-buildings.amp

 

• Holcim 3D-prints Kenyan housing complex  https://www.theconstructionindex.co.uk/news/view/holcim-3d-prints-kenyan-housing-complex

 

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/