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

 

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

 

• David Chance: ‘Data tells a tale of two contrasting economies’ https://m.independent.ie/business/irish/david-chance-data-tells-a-tale-of-two-contrasting-economies-39872643.html

 

• Ireland will need 28,000 new homes a year to accommodate predicted 5.6m population https://www.irishexaminer.com/news/arid-40189989.html?type=amp

 

• Affordable housing plan will see State take up to 30% equity with first-time buyers https://www.irishtimes.com/news/politics/affordable-housing-plan-will-see-state-take-up-to-30-equity-with-first-time-buyers-1.4440041?mode=amp

 

• How The Modern House became a publisher and an estate agency | StoryCode https://storycode.co/story/how-the-modern-house-became-a-publisher-and-an-estate-agency/

 

• Amazon’s data centres will need more power than a million Irish homes – but where from? – The Currency https://thecurrency.news/articles/31454/amazons-data-centres-will-need-more-power-than-a-million-irish-homes-but-where-from/

 

• Airbnb sets new diversity goals – TechCrunch https://techcrunch.com/2020/12/15/airbnb-sets-new-diversity-goals/

 

• Dezeen’s top 10 carbon-neutral buildings of 2020 https://www.dezeen.com/2020/12/19/dezeens-top-10-carbon-neutral-buildings-2020-reviews/

 

• John Flynn – innovative property developer who let his work do the talking https://www.irishtimes.com/business/commercial-property/john-flynn-innovative-property-developer-who-let-his-work-do-the-talking-1.4436257?mode=amp

 

 

 

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.

 

 

Produced by Katie Tallon of Hear Me Roar Media. 

 

*Listen back to all shows at: https://ipropertyradio.com/property-matters/

Email the Property Matters team at hello@iPropertyRadio.com 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

• What is the City Development Plan? https://www.dublininquirer.com/2020/12/16/what-is-the-city-development-plan

 

• Why is Dublin City Council so determined to ruin Sandymount? A much better alternative to the cycleway on Strand Road is hiding in plain sight https://www.irishtimes.com/opinion/why-is-dublin-city-council-so-determined-to-ruin-sandymount-1.4438748?mode=amp

 

• Dublin Port makes pitch to become major cultural hub https://www.irishtimes.com/news/ireland/irish-news/dublin-port-makes-pitch-to-become-major-cultural-hub-1.4441040?mode=amp

 

• Cultural quarter is key to unlocking regeneration sites in Galway City https://connachttribune.ie/cultural-quarter-is-key-to-unlocking-regeneration-sites-in-galway-city/

 

• Galway Rural Development confirms full €6m LEADER budget has been committed – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/galway-rural-development-confirms-full-e6m-leader-budget-has-been-committed/

 

• ‘National perception of Limerick is changing’ – Minister O’Brien https://www.live95fm.ie/news/live95-news/national-perception-of-limerick-is-changing-minister-obrien/

 

• Locals in Manister, Co Limerick, say they are prepared to protest if the route for the proposed M20 motorway passes through their parish.Public consultations on the second phase of the Cork-Limerick scheme opened last month. https://www.irishexaminer.com/news/munster/arid-40193397.html?type=amp

 

• ‘We’ve one chance to get tourism masterplan for Glendalough right’- ‘Wicklow is a preferred location for day trips, but there’s an opportunity to encourage tourists to stay and spend more’ https://m.independent.ie/regionals/braypeople/news/weve-one-chance-to-get-tourism-masterplan-for-glendalough-right-39874864.html

 

• Abbeyleix Energy Masterplan to be launched by Duncan Stewart  https://www.laoistoday.ie/2020/12/13/abbeyleix-energy-masterplan-to-be-launched-by-duncan-stewart/

 

• So you want to move back to Ireland? Tips from people who’ve done it https://www.irishtimes.com/life-and-style/homes-and-property/so-you-want-to-move-back-to-ireland-tips-from-people-who-ve-done-it-1.4437526?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 Purchasing Managers’ Index rose to 53.5 in November, up from 48.6 in October, and signalled an expansion of construction activity for the first time in four months. Moreover, the rate of expansion quickened to the sharpest since August 2019. https://www.irishbuildingmagazine.ie/2020/12/14/growth-of-new-orders-at-19-month-high/

 

• State’s first cost-rental scheme to provide 350 new homes by end of 2021 https://www.irishtimes.com/news/ireland/irish-news/state-s-first-cost-rental-scheme-to-provide-350-new-homes-by-end-of-2021-1.4436259?mode=amp

 

• Opinion: We need to rethink how we plan our cities and towns after this year https://www.thejournal.ie/readme/planning-in-ireland-5273603-Dec2020/

 

• Developers promise to deliver €500m investment of 3,000 homes in Dublin, Cork, Kildare and Kilkenny https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/news/developers-promise-to-deliver-500m-investment-of-3000-homes-in-dublin-cork-kildare-and-kilkenny-39872569.html

 

• A dispute involving companies of developers Johnny Ronan and the Kenny family, which allegedly delayed construction work on a high-profile Dublin site, has been resolved, the Commercial Court heard. https://www.irishtimes.com/business/commercial-property/dispute-between-johnny-ronan-and-kenny-family-is-settled-1.4438564?mode=amp

 

• Developer Johnny Ronan aiming to become ‘market leader’ in housing https://www.irishtimes.com/business/commercial-property/developer-johnny-ronan-aiming-to-become-market-leader-in-housing-1.4438714?mode=amp

 

• Also, Planning regulator declines Ronan request to investigate practices at Dublin City Council: Developer’s company asked the Office of the Planning Regulator to probe local authority over its interpretation of building height guidelines https://www.businesspost.ie/housing/planning-regulator-declines-ronan-request-to-investigate-practices-at-dublin-city-council-401a4c41

 

• Seabren Developments is planning to build 101 apartments at the former Europa Motors site in Blackrock, south Dublin. https://www.thetimes.co.uk/edition/ireland/seabren-to-fast-track-plan-for-apartments-on-europa-motors-site-in-blackrock-r2ch3pnhh

 

• Bain Capital and Regency Homes to wrap up Smurfit paper mill development deal https://www.thetimes.co.uk/edition/ireland/bain-capital-and-regency-homes-to-wrap-up-smurfit-paper-mill-development-deal-7r72dlfjq

 

• Google is putting down a fresh marker of its commitment to an office bound future, with plans for a 10 storey extension to the Treasury Building it owns in Dublin’s Grand Canal Docks area. https://m.independent.ie/business/commercial-property/google-keeps-its-faith-in-offices-with-grand-canal-street-extension-39876230.html

 

• Hines seeks permission for 732 homes at Player Wills site in Dublin 8 https://www.irishtimes.com/business/construction/hines-seeks-permission-for-732-homes-at-player-wills-site-in-dublin-8-1.4438345?mode=amp

 

• Also, Another co-living proposal goes to planners, despite minister’s pledge to ban such developments https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/news/another-co-living-proposal-goes-to-planners-despite-ministers-pledge-to-ban-such-developments-39871952.html

 

• Proposal for ‘visually dominant’ advertising screen at Stephen’s Green rejected – The application from Nightlight Screens Ltd was dismissed by Dublin City Council in July but appealed to An Bord Pleanála shortly after. https://www.thejournal.ie/proposal-for-visually-dominant-digital-screen-at-stephens-green-rejected-5296085-Dec2020/

 

• Major housing developments in Dublin and Wexford | The Planner https://www.theplanner.co.uk/news/major-housing-developments-in-dublin-and-wexford

 

• Park Place to expand to meet data centre demand: Benefitting from the pandemic and demand for data, Park Place speak about their expansion plans https://www.irishexaminer.com/business/companies/arid-40190787.html

 

• Funds firm Alter Domus Ireland landed by Yew Grove REIT for Cork Airport Business Park – Sizeable 21,000 sq ft Cork office deal sees expanding funds company replace Clearstream DB at  Airport Business Park https://www.irishexaminer.com/property/commercial/arid-40192035.html

 

• Planning permission lodged for residential development on site of former St Kevin’s Hospital – The planning permission was lodged with An Bord Pleanala this morning https://www.corkbeo.ie/news/local-news/planning-permission-lodged-residential-development-19476339

 

• Challenge mounted against student accommodation development in Cork city https://www.irishexaminer.com/news/arid-40192647.html

 

• Huge Cork city student development reaches final stages of construction https://www.echolive.ie/corknews/arid-40193676.html

 

• PepsiCo buys two more sites in Cork’s Little Island https://www.irishexaminer.com/property/commercial/arid-40192341.html

 

• Plea to sell idle North Cork IDA site https://www.irishexaminer.com/news/arid-40191648.html

 

• Cork County Council’s decision to deny planning permission for small housing estate overturned https://www.irishexaminer.com/news/munster/arid-40192419.html

 

• McDonald’s given green light for plans to open new drive-thru restaurant in Cork  https://www.echolive.ie/corknews/arid-40193190.html

 

• Planning approval to change use of well known Eyre Square building – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/planning-approval-to-change-use-of-well-known-eyre-square-building/

 

• Plans lodged for new Lidl store in Moycullen – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/plans-lodged-for-new-lidl-store-in-moycullen/

 

• Discount retailer gives update on plans for new Limerick store https://www.limerickleader.ie/news/news/596503/discount-retailer-gives-update-on-plans-for-new-limerick-store.html

 

• BREAKING: Planning permission granted for new Kilkenny school https://www.kilkennypeople.ie/news/home/596481/breaking-planning-permission-granted-for-new-kilkenny-school.html

 

• Kildare tops house planning permission list for third quarter of 2020 https://www.leinsterleader.ie/news/home/596027/kildare-tops-house-planning-permission-list-for-third-quarter-of-2020.html

 

• Four year Dun Áras battle ends as An Bord Pleanála grants planning permission to Ballymahon housing development https://www.longfordleader.ie/news/home/596209/breaking-four-year-dun-aras-battle-ends-as-an-bord-pleanala-grants-planning-permission-to-ballymahon-housing-development.html

 

• Huge boost for Milford with new retail and business park https://www.donegaldaily.com/2020/12/17/huge-boost-for-milford-with-new-retail-and-business-park/

 

• One million euro investment announced for six new social houses in Elphin – Shannonside https://www.shannonside.ie/news/local/one-million-euro-investment-announced-six-new-social-houses-elphin/

 

• Supermac’s gets green light for €10m Barack Obama-style plaza outside Ennis – Approval the latest twist in five-year planning saga for Supermac’s chief Pat McDonagh https://www.irishtimes.com/business/agribusiness-and-food/supermac-s-gets-green-light-for-10m-barack-obama-style-plaza-outside-ennis-1.4440987?mode=amp

 

• Kingspan boss tells staff it will take time to rebuild trust after Grenfell inquiry https://www.irishtimes.com/business/manufacturing/kingspan-boss-tells-staff-it-will-take-time-to-rebuild-trust-after-grenfell-inquiry-1.4438736?mode=amp Also: Kingspan sheds €3.5bn in value since starting evidence to Grenfell Inquiry last month https://www.irishexaminer.com/business/economy/arid-40192665.html

 

• Focus: Kingspan has to ‘get real’ over Grenfell: The Irish company linked to the London tower block disaster must seize the initiative at the reconvened inquiry, writes Dan White https://m.independent.ie/business/irish/focus-kingspan-has-to-get-real-over-grenfell-39880231.html

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

• Proptech Ireland is updating the database of 2020 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 *  

 

• From bricks to clicks in construction https://www.irishexaminer.com/business/economy/arid-40193418.html?type=amp

 

• Cork river gets longest concrete beams in Ireland https://amp.rte.ie/amp/1185495/

 

• Newly published digital strategy for Cork city aims to support citizens and businesses https://www.echolive.ie/corknews/arid-40193214.html

 

• Minister McGrath launches competitive challenge-based grant call to deliver Build Digital Project for the Construction Sector in 2021 https://www.gov.ie/en/press-release/ce4ce-minister-mcgrath-launches-competitive-challenge-based-grant-call-to-deliver-build-digital-project-for-the-construction-sector-in-2021/

 

• Tallaght buildings to be heated using excess energy from Amazon data centre – Dublin area to become first major urban centre here to get district-heating scheme https://www.irishtimes.com/news/environment/tallaght-buildings-to-be-heated-using-excess-energy-from-amazon-data-centre-1.4436843?mode=amp

 

• Evercam to double headcount after €600,000 fundraise https://www.irishtimes.com/business/technology/evercam-to-double-headcount-after-600-000-fundraise-1.4435568?mode=amp

 

• PropTech Today: Trends to watch for in 2021… https://www.estateagenttoday.co.uk/breaking-news/2020/12/proptech-today-trends-to-watch-for-in-2021

 

• Adopting proptech and digital innovations for the future of work https://www.marketing-interactive.com/adopting-proptech-and-digital-innovations-for-the-future-of-work

 

• Waterland to step up Irish investments after closing €2.5bn fund – Private equity group has made 68 acquisitions so far in 2020 and 650 since it began https://www.irishtimes.com/business/economy/waterland-to-step-up-irish-investments-after-closing-2-5bn-fund-1.4436797?mode=amp

 

• Foresight raises $15M for its construction workers’ compensation platform – TechCrunch https://techcrunch.com/2020/12/18/foresight-raises-15m-for-its-construction-workers-compensation-platform/

 

• Analytics in real estate thrive in the commercial market https://searchbusinessanalytics.techtarget.com/feature/Analytics-in-real-estate-thrive-in-the-commercial-market

 

• The Midas List Europe: The Top Venture Capital Investors In Europe And Israel In 2020 https://www.forbes.com/midas-europe/ https://www.forbes.com/midas-europe/

 

• A/O PropTech, Europe’s largest proptech VC, will be the first venture capital firm to join the World Economic Forum (WEF) as a member of its Global Innovators Community. https://www.propertyfundsworld.com/2020/12/14/293504/ao-proptech-becomes-first-vc-join-world-economic-forum-global-innovators

 

• Why I Believe Fifth Wall’s Consortium Might Be Key to Solving One of the World’s Biggest Problems | by Greg Smithies | Fifth Wall INSIGHTS | https://medium.com/fifth-wall-insights/why-i-believe-fifth-walls-consortium-might-be-key-to-solving-one-of-the-world-s-biggest-problems-937d2603c65f

 

• New Du Val PropTech Platform Provides Independent Real Estate Investors With Bulk Pricing and Developers With Reduced Costs, Further Driving Investor Value and Transactional Volumes https://www.globalbankingandfinance.com/category/news/new-du-val-proptech-platform-provides-independent-real-estate-investors-with-bulk-pricing-and-developers-with-reduced-costs-further-driving-investor-value-and-transactional-volumes/amp/

 

• Dubai-based IBC group invests $6.24Mn in proptech firm Sitefy – The AltcoinBeacon https://www.altcoinbeacon.com/2020/12/15/dubai-based-ibc-group-invests-6-24mn-in-proptech-firm-sitefy/

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Profits from doom? How the property market stayed strong in 2020 | Business Post https://www.businesspost.ie/property-insight/profits-from-doom-how-the-property-market-stayed-strong-in-2020-7e3b6db8

 

• Residential property prices fell again in October https://www.irishtimes.com/business/economy/residential-property-prices-fell-again-in-october-1.4438368?mode=amp

 

• Average listed price of a home in Ireland was €269k this quarter – a rise of 7.4% on last year https://www.thejournal.ie/average-house-prices-ireland-report-5303447-Dec2020/?amp=1

 

• Can house prices hold up after Covid-19? Smart Money: Prices resilient so far, but next year could bring a different story https://www.irishtimes.com/business/economy/can-house-prices-hold-up-after-covid-19-1.4439496?mode=amp

 

• Dublin’s private rented sector the standout performer of 2020 https://www.irishtimes.com/business/commercial-property/dublin-s-private-rented-sector-the-standout-performer-of-2020-1.4431917?mode=amp

 

• South Dublin dominates most expensive places as house prices take massive jump https://www.dublinlive.ie/news/south-dublin-dominates-most-expensive-19451648

 

• Most expensive property market in Cork revealed  https://www.echolive.ie/corknews/arid-40190022.html

 

• Mortgage rates will ease with time, says Central Bank of Ireland governor Gabriel Makhlouf https://www.thetimes.co.uk/edition/ireland/mortgage-rates-will-ease-with-time-says-central-bank-of-ireland-governor-gabriel-makhlouf-972v6splr

 

• Appian Asset Management buyout sparks social housing move https://www.thetimes.co.uk/article/appian-asset-management-buyout-sparks-social-housing-move-zf5d9ppn3

 

• Ires Reit acquires 146 apartments at Phoenix Park Racecourse for €60 million https://www.irishtimes.com/business/commercial-property/ires-reit-acquires-146-apartments-at-phoenix-park-racecourse-for-60-million-1.4436223?mode=amp

 

• Further to the above Ires news: 700 ex-Airbnb units added to rental market – Ires Reit https://amp.independent.ie/business/commercial-property/700-ex-airbnb-units-added-to-rental-market-ires-reit-39864112.html

 

• Firm appeals €2m award to couple who sued over toxic insulation in their dream home https://www.irishexaminer.com/news/courtandcrime/arid-40192518.html

 

• High Court rules landlord has to meet requirement on proof of sale before eviction notice https://www.irishexaminer.com/news/courtandcrime/arid-40193649.html

 

• Studs, cottages, fairytale escapes: our favourite houses in 2020 https://www.irishtimes.com/life-and-style/homes-and-property/studs-cottages-fairytale-escapes-our-favourite-houses-in-2020-1.4437288?mode=amp

 

• How do I spot an up-and-coming area? 4 big house-hunting questions, tackled by an expert https://www.thejournal.ie/estate-agent-location-expert-glenveagh-homes-5304493-Dec2020/

 

• Should you extend your home or make better use of the space you have? https://www.irishexaminer.com/property/residential/arid-40193415.html

 

• Homebuyers “moving away from open-plan spaces” says Albert Hill of The Modern House https://www.dezeen.com/2020/12/09/homes-open-plan-spaces-albert-hill-modern-house/

 

 

COMMERCIAL PROPERTY NEWS

• Better year in prospect for 2021 as range of European investors eye Ireland: Volatile equities, low interest rates and lack of yield elsewhere make real estate attractive https://www.irishtimes.com/business/commercial-property/better-year-in-prospect-for-2021-as-range-of-european-investors-eye-ireland-1.4433215?mode=amp

 

• Against all odds: The Top 10 commercial property deals of 2020 https://www.irishtimes.com/business/commercial-property/against-all-odds-the-top-10-commercial-property-deals-of-2020-1.4436725?mode=amp

 

• Retail parks seize opportunity presented by High Street’s difficulty https://www.irishtimes.com/business/commercial-property/retail-parks-seize-opportunity-presented-by-high-street-s-difficulty-1.4433194?mode=amp

 

• Strength and depth of occupiers to determine future of retail market https://www.irishtimes.com/business/commercial-property/strength-and-depth-of-occupiers-to-determine-future-of-retail-market-1.4431929?mode=amp

 

• Vaccines add momentum to recovery in office lettings https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/commercial-property/vaccines-add-momentum-to-recovery-in-office-lettings-39876210.html

 

• Property group Hammerson to list on Euronext Dublin in response to Brexit https://amp.independent.ie/business/commercial-property/property-group-hammerson-to-list-on-euronext-dublin-in-response-to-brexit-39877122.html

 

• Kennedy Wilson ties up with GIC for logistics opportunities https://www.thetimes.co.uk/article/kennedy-wilson-ties-up-with-gic-for-logistics-opportunities-dgjkxv73k

 

• Apple seeking office space in Cork City for up to 1,000 staff: Cork City’s ‘AA’ rating as Apple may join Amazon in seeking Dockland offices https://www.irishexaminer.com/property/commercial/arid-40191798.html

 

• Next and US investor plan joint bid for Arcadia – report https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/retail-and-services/next-and-us-investor-plan-joint-bid-for-arcadia-report-1.4441054?mode=amp

 

• Nasdaq company sells its Dublin office for $1.5m https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/commercial-property/nasdaq-company-sells-its-dublin-office-for-15m-39880238.html

 

 

INTERNATIONAL PROPERTY NEWS

• Paddy McKillen plans major expansion for London hotels https://www.irishtimes.com/business/commercial-property/paddy-mckillen-plans-major-expansion-for-london-hotels-1.4439923?mode=amp

 

• More Tenants Upsized Their Lease Renewals Than Downsized This Year https://www.bisnow.com/national/news/office/more-tenants-upsized-their-lease-renewals-than-downsized-this-year-107092

 

• Manchester’s Trafford Centre taken over by lenders after sale fails https://www.theguardian.com/business/2020/dec/16/manchesters-trafford-centre-taken-over-by-lenders-after-sale-fails

 

• Oslo tests ‘zero-emissions’ construction sites – Global Times https://www.globaltimes.cn/content/1210267.shtml

 

• How young is the oldest building in your state? Map shows oldest buildings for each U.S. state – but also hints at what’s missing https://bigthink.com/strange-maps/oldest-buildings

 

 

 

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 want to ensure the content remains topical and we are 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/