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

 

 

I hope you are all enjoying a peaceful Christmas break with loved ones. Today’s Round-Up is predictably light. 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: 

 

• The housing crisis is Europe-wide – the EU must help fix it: Many member states are suffering from the financialisation of their housing markets https://www.irishtimes.com/opinion/the-housing-crisis-is-europe-wide-the-eu-must-help-fix-it-1.4761252

 

• Housing First National Implementation Plan 2022-2026  https://www.gov.ie/en/publication/c49d0-housing-first-national-implementation-plan-2022-2026/?fbclid=IwAR0yE5AenOqRB1GbAjOiWSy9KQZ4GTgR2GJIV1vrALhdxGfAXon-2-FQ5FM

 

• High Court challenge to homeless accommodation decision: Baggot Street businesses say McVerry Trust should not have been granted exemption https://www.irishtimes.com/news/social-affairs/high-court-challenge-to-homeless-accommodation-decision-1.4762449

 

• Cost rental: Bridging the gap between social housing and the market: Despite slow start, cost rental has potential to lower rents and create more mixed estates https://www.irishtimes.com/news/social-affairs/cost-rental-bridging-the-gap-between-social-housing-and-the-market-1.4761167

 

• The Catholic Archbishop of Dublin said it is “completely unacceptable” to pressure church organisations to gift sites and buildings into a “dysfunctional” housing system (*ignoring the irony of the Catholic Church calling any State system dysfunctional) https://m.independent.ie/irish-news/pressure-on-church-to-gift-sites-is-wrong-says-archbishop-41179250.html

 

• Dereliction is a form of abuse and a social crime, so how can we justify it? To end #DerelictIreland we need transparency and accountability and we need to enforce the law https://www.irishexaminer.com/opinion/commentanalysis/arid-40771272.html

 

• Eoin Ó Broin has insisted that Sinn Féin is not ‘antilandlord’ despite warnings that some of the party’s policies would force landlords out of the market  https://amp.extra.ie/2021/12/24/news/politics/sinn-fein-anti-landlord

 

• Eirgrid U-turn on data centres after IDA chief intervenes: Martin Shanahan contacted Eirgrid chief after revelations in Business Post last week. Grid operator will now assess Dublin applications on ‘case-by-case basis’ https://www.businesspost.ie/energy/eirgrid-u-turn-on-data-centres-after-ida-chief-intervenes-c6d2c03c

 

• Farm Property; Land prices in Ireland fourth highest in EU https://m.independent.ie/business/farming/farm-property/land-prices-in-ireland-fourth-highest-in-eu-41169108.html

 

• ‘Game-changer’ Smyths deal paves way for Arckit to hit €1m revenue target: The model kit manufacturer has created a line of Lego-esque architecture toys that have been nominated for top industry awards  https://www.businesspost.ie/retail/game-changer-smyths-deal-paves-way-for-arckit-to-hit-eur1m-revenue-target-8c6d9a7d

 

• Events that changed businesses in 2021 and will shake the year ahead: Seven seismic and mostly unexpected events changed businesses last year — and the series of aftershocks are likely to be felt over the next 12 months https://www.thetimes.co.uk/article/events-that-changed-businesses-in-2021-and-will-shake-the-year-ahead-kcl7mgdc2

 

• Highest increase in FDI employment in a single year – IDA Ireland  https://www.gov.ie/en/news/ec125-highest-increase-in-fdi-employment-in-a-single-year-ida-ireland/

 

• Galway set to miss out on 10k jobs as new Intel plant to be based in Germany  https://connachttribune.ie/galway-set-to-miss-out-on-10k-jobs-as-new-intel-plant-to-be-based-in-germany/amp/

 

• Ireland to begin ‘phased exit’ from AIB in coming months  https://www.reuters.com/markets/stocks/ireland-cut-71-stake-aib-over-coming-months-2021-12-21/

 

• This tiny cabin was built in 3 weeks and cost 30% less than a traditional house https://www.fastcompany.com/90706884/this-tiny-cabin-was-built-in-3-weeks-and-cost-30-less-than-a-traditional-house (pictured) 

 

• Irish Lights Recruiting for Coastal Operations & Property Manager https://www.afloat.ie/resources/marine-industry-news/jobs-and-careers/item/53013-irish-lights-recruiting-for-coastal-operations-property-manager

 

• Microgeneration scheme could support solar panels on 70,000 properties: State may be able to produce 1 GW of solar power from ‘customer-scale generation’ by 2030 https://www.irishtimes.com/business/energy-and-resources/microgeneration-scheme-could-support-solar-panels-on-70-000-properties-1.4762170

 

• Most read stories on irishtimes.com this year: more Meghan Markle and less Covid  https://www.irishtimes.com/culture/tv-radio-web/most-read-stories-on-irishtimes-com-this-year-more-meghan-markle-and-less-covid-1.4761104

 

• MIT Researchers Just Discovered an AI Mimicking the Brain on Its Own: A new study claims machine learning is starting to look a lot like human cognition. https://interestingengineering.com/ai-mimicking-the-brain-on-its-own

 

 

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.

 

Ireland’s new Homebuyers’ Hero: https://youtu.be/6LBoHFNnQ_s

 

PJ Rudden, construction innovation: https://youtu.be/OCl68HyAsMM

 

Ility founder talks real estate flexibility, profitability and sustainability https://youtu.be/2rOszuAjdH0

 

 

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

Email the Property Matters team at info@propertydistrict.ie 

 

 

 THE CURRENCY PODCAST, Sponsored by Investec Europe

Pat Farrell is CEO of Irish Institutional Property, and before that he was a senior banker and a banking lobbyist. In today’s podcast with Seán Keyes, he makes the case that direct funding is safer, explains why the private sector has been unable to deliver affordable homes, and looks back on his time in banking. Listen back: https://lnkd.in/eADbgPp

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• Residents have no option but to object if developers insist on bad planning:  ‘Nimbyism is said to be the biggest obstacle to Ireland developing a modern housing infrastructure and it is claimed that unrepresentative residents associations are trying to stop lots of worthwhile developments.’  https://www.businesspost.ie/Planning/dermot-lacey-residents-have-no-option-but-to-object-if-developers-insist-on-bad-planning-d2aceb0f

 

• ‘Radical outdoor plan for 2022’  https://www.irishtimes.com/opinion/letters/radical-outdoor-plan-for-2022-1.4761256

 

• Priced out of Dublin: ‘Mam is delighted. I don’t think she ever thought we’d be back: Many people have left the capital, their life plans changed by the pandemic  https://www.irishtimes.com/news/social-affairs/priced-out-of-dublin-mam-is-delighted-i-don-t-think-she-ever-thought-we-d-be-back-1.4759380

 

• A first Christmas in our home outside Dublin: ‘We’ve landed in paradise’: The pandemic spurred many people to move out of Dublin. Here are three of their stories https://www.irishtimes.com/life-and-style/homes-and-property/a-first-christmas-in-our-home-outside-dublin-we-ve-landed-in-paradise-1.4760027

 

• Residents ‘very concerned’ over plans to rezone land in Howth: The company is proposing 195 units for retired people and 50 affordable homes for first-time buyers https://www.dublinlive.ie/news/dublin-news/local-residents-very-concerned-over-22564644.amp

 

• ‘There’s a great atmosphere here’: Locals share what they love most about Citywest – We spoke to business owners and residents to find out what drew them to the area.  https://www.thejournal.ie/citywest-dublin-glenveagh-homes-barnoaks-5636475-Dec2021/

 

• Italian Leeside community has nothing but love for Cork in stunning short documentary: Filmmaker Dario introduces us to Italians who have “settled happily” on Leeside  https://www.corkbeo.ie/culture/watch-italian-leeside-community-nothing-22537397

 

• Cork campaign for outdoor swimming pool gets off the ground https://www.echolive.ie/corknews/arid-40772091.html

 

• Regeneration plans for Galway city centre  https://connachttribune.ie/regeneration-plans-for-galway-city-centre/ (pictured)

 

• Why the vision for Waterford’s Railway Square is now becoming a reality: The city has seen a number of saignificant jobs announcements in recent weeks https://www.irishexaminer.com/business/economy/arid-40770696.html

 

• €7m boost for Athlone Bridge Cycleway project  https://www.westmeathindependent.ie/2021/12/20/e7m-boost-for-athlone-bridge-cycleway-project/. 

 

 

 

*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

 

• ‘I do regret that’: Taoiseach rues impact of construction lockdowns: Ireland was the only country in Europe to lock down the construction sector last year https://www.irishexaminer.com/news/politics/arid-40771716.html

 

• We import timber here while mature crops go unharvested https://m.independent.ie/opinion/letters/we-import-timber-here-while-mature-crops-go-unharvested-41165679.html

 

• When Politics, Pensions and Construction Collide  https://irishbuildingmagazine.ie/2021/12/21/when-politics-pensions-and-construction-collide/

 

• The Housing Agency & The Department of Housing, Local Government and Heritage today published a stakeholder notification outlining key dates and important criteria for potential applicants to the Croí Cónaithe fund. The notification and more information can be found on the HA website: https://www.housingagency.ie/news-events/croi-conaithe-cities-stakeholder-notification-issued-industry 

 

• Plans for over 8,500 residential units lodged with An Bord Pleanála in five days: Deluge of applications comes amid phasing out of strategic housing development system  https://www.irishtimes.com/business/construction/plans-for-over-8-500-residential-units-lodged-with-an-bord-plean%C3%A1la-in-five-days-1.4762466

 

• Tetrarch calls on Fingal councillors to back land rezoning at Howth Estate: Company proposes 195 units for retirees and 50 affordable houses for first-time buyers  https://www.irishtimes.com/business/construction/tetrarch-calls-on-fingal-councillors-to-back-land-rezoning-at-howth-estate-1.4761450

 

• Ballymore submits planning application for phase 2 of its Dublin Arch scheme: The mixed-use scheme beside Connolly Station will include 187 residential units https://www.irishtimes.com/business/construction/ballymore-submits-planning-application-for-phase-2-of-its-dublin-arch-scheme-1.4761351

 

• Three weeks for Ronan to cut a deal with US investment firm: The colourful developer is at loggerheads with Fortress Investment Group over three planned Dublin developments, including a proposed 1,000-unit highrise  https://www.businesspost.ie/legal/three-weeks-for-ronan-to-cut-a-deal-with-us-investment-firm-87f1f36b

 

• Planning battle over Cobblestone pub to continue as developers lodge appeal: More than 700 parties who objected to the scheme are informed by the council about the appeal https://www.irishtimes.com/news/ireland/irish-news/planning-battle-over-cobblestone-pub-to-continue-as-developers-lodge-appeal-1.4763025

 

• Johnny Ronan makes bid to overturn Appian Way planning refusal: Council found proposed apartment scheme too high and constituted overdevelopment  https://www.irishtimes.com/business/innovation/johnny-ronan-makes-bid-to-overturn-appian-way-planning-refusal-1.4763042

 

• Department of Education scraps build of Clondalkin school  https://dublinpeople.com/news/southside/articles/2021/12/22/department-education-scraps-clondalkin-school-36140/?amp

 

• Balbriggan economy to get a ‘shot’ in the arm as €100M whiskey distillery and business park seeks planning permission  https://m.independent.ie/regionals/dublin/fingal/balbriggan-economy-to-get-a-shot-in-the-arm-as-100m-whiskey-distillery-and-business-park-seeks-planning-permission-41167266.html

 

• Aldi submits plans to open €10m store in Cork town  https://www.echolive.ie/corknews/arid-40771173.html

 

• New plan put forward for almost 100 homes at site in East Cork: The council received the application last week and are set to make their decision by 22nd February 2022  https://www.corkbeo.ie/news/local-news/new-plan-put-forward-almost-22546551

 

• Government scheme to kickstart unactivated planning permissions in Galway city for build-to-sell apartments https://connachttribune.ie/government-scheme-to-kickstart-unactivated-planning-permissions-in-galway-city-for-build-to-sell-apartments/

 

• Plans for apartment building on vacant site in Rahoon  https://www.galwaydaily.com/news/housing/plans-for-apartment-building-on-vacant-site-in-rahoon/

 

• New housing and apartment development gets the green light in Kilkenny city https://www.kilkennypeople.ie/news/kilkenny-city/710250/new-housing-and-apartment-development-gets-the-green-light-in-kilkenny-city.html

 

• Planning permission granted for construction of seven houses in Ballyjamesduff  https://www.northernsound.ie/news/planning-permission-granted-for-construction-of-seven-houses-in-ballyjamesduff-186971

 

• Construction started on alpine lodges in Leitrim Village https://www.leitrimobserver.ie/news/home/709637/construction-started-on-alpine-lodges-in-leitrim-village.html

 

• Kerry County Council has 34 outstanding housing estate bond claims with financial institutions and insurance companies totalling €3.5 million.  https://www.radiokerry.ie/news/kcc-has-34-outstanding-housing-estate-bond-claims-totalling-e3-5-million-263539

 

• ‘I love great variety in facilities management career’: “We have seen an increase in women choosing careers in construction, thanks to our in-house Women in Construction campaigns”  https://www.irishexaminer.com/business/companies/arid-40768479.html (pictured) 

 

• If you can’t see it, you can’t be it! Emma Hayes, Managing Director of Digital Built Consultants provides insight for Irish building readers on How to encourage women into the construction industry.  https://irishbuildingmagazine.ie/2021/12/22/if-you-cant-see-it-you-cant-be-it/

 

• BORD Gáis Energy has partnered with Neoen on three solar farms that will provide electricity to the national grid in 2022, including a site at Millvale, near Rathnew. https://m.independent.ie/regionals/wicklow/news/rathnew-solar-farm-included-as-part-of-new-partnership-between-bord-gais-and-neoen-41166635.html. 

 

• Unlocking Jones Engineering: The dividends, the margins, the profits and the personalities – Jones Engineering has achieved something rare for an Irish company – it has succeeded across Europe and the Middle East. So just what underpins the company’s success? And who are the people behind it? https://thecurrency.news/articles/69279/unlocking-jones-engineering-the-dividends-the-margins-the-profits-and-the-personalities/ 

 

• KILDARE modular buildings company Actavo Modular has been awarded the design and build contract for seven new steel-framed education buildings at Gorey Educate Together secondary school. https://m.independent.ie/regionals/wexford/business/actavo-gets-to-work-on-school-units-41168653.html  (pictured) 

 

• Grafton to acquire Sitetech Building Products: Acquisition is in line with Grafton’s strategy  https://www.irishtimes.com/business/construction/grafton-to-acquire-sitetech-building-products-1.4761823

 

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 * 

 

• Having secured an open banking licence, Loanitt wants to shake up the Irish mortgage market and raise €5m  https://thecurrency.news/articles/70128/having-secured-an-open-banking-licence-loannit-wants-to-shake-up-the-irish-mortgage-market-and-raise-e5m/ (pictured) 

 

• Blending over 40 years’ industry experience with a passion for innovation, EngDoc founders David Mullen and Tim King are staying ahead of the curve in terms of innovation, quality and training.  https://irishbuildingmagazine.ie/2021/12/23/engdoc-ahead-of-the-curve/

 

• Sensors in Concrete: New Technology to Improve Efficiency and Avoid Material Waste  https://www.archdaily.com/973694/sensors-in-concrete-new-technology-to-improve-efficiency-and-avoid-material-waste

 

• With $36 million Series C, Brazil’s Ambar hopes to make civil construction more efficient  https://techcrunch.com/2021/12/23/with-36-million-series-c-brazils-ambar-hopes-to-make-civil-construction-more-efficient/

 

• VC Investment in Proptech Surpasses Pre-Pandemic Levels: Report: Some $32 billion was poured into real estate tech companies in 2021, a 3.23 percent increase over 2019  https://commercialobserver.com/2021/12/vc-investment-proptech-2021/

 

• These Were the Top 5 Proptech Fundraising Rounds of 2021 https://therealdeal.com/2021/12/23/as-housing-boomed-2021s-proptech-darlings-were-resi-solutions/

 

• PlaceTech | 10 biggest proptech stories of 2021 https://placetech.net/analysis/10-biggest-proptech-stories-of-2021/

 

• Top proptech predictions for 2022: What’s next for tech in real estate after nearly two years of upheaval and innovation? https://placetech.net/analysis/top-proptech-predictions-for-2022/

 

• Pandemic a ‘tipping point’ for agents using proptech | Property Reporter https://www.propertyreporter.co.uk/property/pandemic-a-tipping-point-for-agents-using-proptec.html

 

• Why prop tech is the way forward for the real estate sector to create customer value  https://yourstory.com/2021/10/prop-tech-real-estate-create-customer-value/amp (pictured) 

 

• PlaceTech | Who is behind real estate’s latest $230m SPAC? https://placetech.net/news/who-is-behind-real-estates-latest-230m-spac/

 

• Nine Must Reads for the CRE Industry: Proptech wrapped up a record year, drawing in $32 billion in venture capital, according to data from CRETI. These are among today’s must reads from around the commercial real estate industry: https://www.wealthmanagement.com/cre-wire/nine-must-reads-cre-industry-today-dec-23-2021

 

• ILab Ventures acquires proptech startup in Turkey  https://aimgroup.com/2021/12/25/ilab-ventures-acquires-proptech-startup-in-turkey/

 

• Fraudulent tenant applications rife in some rental properties – claim  https://www.lettingagenttoday.co.uk/breaking-news/2021/12/fraudulent-tenant-applications-rife-in-some-rental-properties–claim?source=newsticker

 

• Aurum Proptech to invest $5 mn in realty rental platform TheHouseMonk | VCCircle https://www.vccircle.com/aurum-proptech-to-invest-5-mn-in-realty-rental-platform-thehousemonk

 

• PropTech – shaping the future of the real estate market – Research Snipers https://www.researchsnipers.com/proptech-shaping-the-future-of-the-real-estate-market/

 

• New PropTech business leveraging off-market selling surge https://eliteagent.com/new-proptech-business-leveraging-off-market-selling-surge/

 

• Money Talks: Finola Burke reckons proptech platforms need to expand their services amid a cooling real estate market – Stockhead https://stockhead.com.au/experts/money-talks-finola-burke-reckons-proptech-platforms-need-to-expand-their-services-amid-a-cooling-real-estate-market/

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• Costly home truths mean many will never afford their own home: For 90% of earners, average rent in Ireland is now unaffordable, forcing many to take on unsustainable debt levels and pay ridiculous house prices just to get out of the private rental sector  https://www.irishexaminer.com/opinion/commentanalysis/arid-40768965.html

 

• Across Europe, rising housing costs threaten political upheaval: Gap between renters and homeowners widening as mortgage costs become cheaper than rent https://www.irishtimes.com/news/world/europe/across-europe-rising-housing-costs-threaten-political-upheaval-1.4761006

 

• New social housing leases will cost state over €1.4 billion: Despite government commitment to phasing the practice out, new deals are due to be signed to lease 3,500 homes at €412,000 per home over 25 years  https://www.businesspost.ie/houses/new-social-housing-leases-will-cost-state-over-eur14-billion-898e27c1

 

• Minister seeks advice on extending rent pressure zones countrywide: Darragh O’Brien believes pressures in the rental market will begin to ease from March https://www.irishtimes.com/news/social-affairs/minister-seeks-advice-on-extending-rent-pressure-zones-countrywide-1.4759553

 

• ‘An absolute disaster’: landlord hits out at bid to cap rent rises – An association for Irish landlords has reacted with fury after Housing Minister https://www.newstalk.com/news/1292785-1292785

 

• ‘Landlords are petrified’: Property owners’ perspective on the rental crisis: Tenant rights, caps on rent and investment yields appear to be forcing landlords out https://www.irishtimes.com/news/consumer/landlords-are-petrified-property-owners-perspective-on-the-rental-crisis-1.4760344

 

• Landlord ‘at wits’ end’ two years after serving notice on tenant: ‘I have attempted to be patient. I have been flexible . . . I am not a social worker’ https://www.irishtimes.com/news/social-affairs/landlord-at-wits-end-two-years-after-serving-notice-on-tenant-1.4760230

 

• Remote working during pandemic fuels rent hikes in rural towns: Father ‘absolutely shocked’ over notice of 54% rent hike for Carrick-on-Shannon home https://www.irishtimes.com/news/social-affairs/remote-working-during-pandemic-fuels-rent-hikes-in-rural-towns-1.4759355

 

• Sex-for-rent arrangements put tenants in vulnerable situations: Online ads from landlords that are offering low-cost or free accommodation in return for sex is not a scenario of equal power, leaving tenants open to abuse https://www.irishexaminer.com/opinion/commentanalysis/arid-40769502.html

 

• Minister for Housing condemns landlords offering free rooms for sex  https://amp.extra.ie/2021/12/21/news/irish-news/minister-for-housing-condemns-landlords-offering-free-rooms-for-sex

 

• Housing crisis will decide Ireland’s political future  https://www.irishcentral.com/opinion/cahirodoherty/housing-crisis-irelands-political-future.amp

 

• Profits surge at several direct provision companies | BreakingNews.ie https://www.breakingnews.ie/business/profits-surge-at-several-direct-provision-companies-1231567.html

 

• Sherry FitzGerald 2021 market review  https://www.advertiser.ie/galway/article/126533/sherry-fitzgerald-2021-market-review

 

• HOUSE ABOUT THAT Top 10 counties with cheapest Irish properties in 2021 with one area costing just €8k  https://www.thesun.ie/money/8090515/property-cheapest-homes-ireland-top-counties/amp/

 

• Serviced house sites in Kildare are being sold for €225,000 https://www.kildarenow.com/news/home/709921/serviced-house-sites-in-kildare-are-being-sold-for-225-000.html

 

• Building Advice: The challenges of a home by the sea – Builder Kieran McCarthy says houses by the sea are beautiful in summer but they really need to be bulletproof in the winter  https://www.irishexaminer.com/property/residential/arid-40771215.html

 

• Property Clinic: ‘Can I sell my apartment if it has no management company?’ No management company makes it tricky to sell and affects maintenance of building  https://www.irishtimes.com/life-and-style/homes-and-property/property-clinic-can-i-sell-my-apartment-if-it-has-no-management-company-1.4747270

 

• From Home of the Year winners to Sinéad O’Connor’s seafront house: See inside some of the properties you loved this year https://m.independent.ie/life/home-garden/homes/from-home-of-the-year-winners-to-sinead-oconnors-seafront-house-see-inside-some-of-the-properties-you-loved-this-year-41136201.html

 

• RTE’s Home of the Year is returning this Spring and the show has already been filmed: Hugh Wallace will be back with a bang after Christmas with the latest series of our favourite property porn show as he joins his fellow judges for a tour around Ireland https://www.rsvplive.ie/news/celebs/rtes-home-year-returning-spring-25766133.amp

 

• 6 interior trends set to be big for 2022 https://www.breakingnews.ie/lifestyle/6-interior-trends-set-to-be-big-for-2022-1233294.html

 

• 8 Interior Design Trends Pros Are Eager to Leave Behind in 2022: Pros weigh in on the unflattering or overused design choices to avoid in your next project https://www.architecturaldigest.com/story/8-interior-design-trends-pros-are-eager-to-leave-behind-in-2022

 

• IAM Sold Property Auctions – the year in review https://www.advertiser.ie/galway/article/126535/iam-sold-property-auctions-the-year-in-review

 

 

COMMERCIAL PROPERTY NEWS

• Q4 investment market shows strong performance: Returning confidence has pushed the turnover figure 39 per cent above the same period last year and in line with the five-year average  https://www.businesspost.ie/commercial/q4-investment-market-shows-strong-performance-79678fad

 

• Dublin remains most popular choice for Brexit relocations: Brexit-related activity within the UK financial services market was muted over 2021 https://www.irishtimes.com/business/economy/dublin-remains-most-popular-choice-for-brexit-relocations-1.4760079.  (Pictured) 

 

• Yew Grove shareholders back €127.8m sale to Canadian property group: A number of resolutions at egm on proposed deal passed by majority of about 90%  https://www.irishtimes.com/business/commercial-property/yew-grove-shareholders-back-127-8m-sale-to-canadian-property-group-1.4762984

 

• If you thought hybrid working was hard, wait until 2022: Many traditional office practices were pointless but remote working brings its own problems https://www.irishtimes.com/business/work/pilita-clark-if-you-thought-hybrid-working-was-hard-wait-until-2022-1.4759286

 

• KPMG confirms deal with Hibernia Reit for new Dublin HQ: Firm to move to the 26,802sq m development at Harcourt Square in 2026 https://www.irishtimes.com/business/commercial-property/kpmg-confirms-deal-with-hibernia-reit-for-new-dublin-hq-1.4760966

 

• WeWork scraps plans to open several office spaces in Dublin: The company has abandoned plans to take all the office space in the redeveloped Clerys on O’Connell Street and six other locations in the capital https://www.businesspost.ie/property/wework-scraps-plans-to-open-several-office-spaces-in-dublin-f2ea5052?auth=login

 

• Westons to sell off Arnotts and Brown Thomas to luxury chain  https://www.independent.ie/news/westons-to-sell-off-arnotts-and-brown-thomas-to-luxury-chain-41179467.html

 

• Staycity opens Dublin and London properties  https://www.servicedapartmentnews.com/news/industry-news/staycity-opens-dublin-and-london-properties/

 

• Get lost in the bed-office-pub triangle on Grand Canal Street for €875k: Renovated four-bed near Dublin’s Silicon Docks has potential rent of €57k a year https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/get-lost-in-the-bed-office-pub-triangle-on-grand-canal-street-for-875k-1.4759927

 

• A restaurant property on Dunboyne Main Street, Dunboyne, Co. Meath, has hit the market for €215,000 to buy or €750 weekly to rent.  https://www.hospitalityireland.com/amp/restaurant/restaurant-property-in-co-meath-hits-the-market-157159

 

• Making it Work: Grocer brothers keep to their roots: In their new artisan grocers in Ballymore Eustace, Dominic and Conor Doyle seek to emulate their grandfather’s entrepreneurial spirit, as well as sourcing produce directly from local producers https://www.businesspost.ie/making-it-work/making-it-work-grocer-brothers-keep-to-their-roots-e3760501

 

INTERNATIONAL PROPERTY NEWS

 

• The UK’s Lomond Group is eyeing further growth with the potential acquisition of 216 year-old estate agent Chestertons. https://propertyindustryeye.com/property-group-in-exclusive-negotiations-to-acquire-chestertons/

 

• Luxury homes, short lets and shacks: inside Lisbon’s housing crisis | Housing | The Guardian https://www.theguardian.com/world/2021/dec/22/luxury-homes-short-lets-and-shacks-inside-lisbons-housing-crisis

 

• Dezeen’s top 10 house extensions of 2021  https://www.dezeen.com/2021/12/18/best-house-extensions-review-2021/

 

• Announcing: The Winners of the 2021 Dwell Design Awards https://www.dwell.com/article/2021-dwell-design-awards-winner-announcement-af4feff6

 

• McDonald’s opens “UK’s first net-zero restaurant”  https://www.dezeen.com/2021/12/20/mcdonalds-net-zero-restaurant/amp/ (pictured) 

 

• Bluerock Residential Growth REIT To Be Acquired By Affiliates of Blackstone Real Estate In $3.6 Billion Transaction https://www.prnewswire.com/news-releases/bluerock-residential-growth-reit-to-be-acquired-by-affiliates-of-blackstone-real-estate-in-3-6-billion-transaction-301448158.html

 

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/