Weekly 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:

• The Property District team is proud to partner with Construction Network Ireland to launch the inaugural *CNI Persons of Impact* initiative for 2022. After a challenging few years, this is aimed at recognising the industry leaders who are making a difference. Help us to identify the real change-makers who inspire you, those who are having a positive impact on our industry right now: Nominate at 👉 www.personsofimpact.ie 

 

• The Taoiseach sends a strong message, not just to communities opposing new housing, but to the “possessive” state agencies whose in-fighting is hindering vital placemaking 👏 “People in this country need housing, the younger generations need housing. The OPW, in good faith, is identifying the public land that we have. We’re working with agencies across the length and breadth of the  country, state agencies, to say, what land have you available that we can use to build housing? There tends to be a possessive attitude by agencies and departments and we’re saying from the centre, and I’m saying as Taoiseach, that we need to use land that hasn’t been used in decades for housing”. https://www.shannonside.ie/news/taoiseach-weighs-in-on-plans-to-use-longford-greyhound-track-for-modular-refugee-housing-215174

 

• Brian Keegan: Tax breaks for developers are the elephant in the room: Nobody wants to be seen to profit from the housing crisis, but everyone loses out if we insist on retaining the tax status quo https://www.businesspost.ie/analysis-opinion/brian-keegan-tax-breaks-for-developers-are-the-elephant-in-the-room/

 

• Government to hold referendums on housing and water  https://www.rte.ie/news/politics/2022/1129/1339021-referendum-water-housing/

• Prediction of ‘significant housing shortfall’ in 2024 and 2025  https://www.rte.ie/news/business/2022/1202/1339649-significant-shortfall-in-housing-over-next-2-years/

• Housing crisis: Is there an end in sight to Ireland’s intractable problem? Government accepts that housing is the factor that will make or break its electoral fortunes  https://www.irishtimes.com/ireland/housing-planning/2022/11/28/housing-crisis-is-there-an-end-in-sight-to-irelands-intractable-problem/

• Affordable housing is not sustainable and sustainable housing is not affordable, RIAI says: Developers will build sustainable housing if it’s more affordable, architects’ body says  https://www.irishtimes.com/ireland/housing-planning/2022/11/29/one-off-detached-houses-should-not-be-the-cheapest-option-to-build-riai-says/

• Planning laws to be rushed through Dáil ‘to help address housing crisis’: Law includes provision for social housing to be built without environmental assessment  https://www.irishexaminer.com/news/politics/arid-41018042.html

• O’Brien accused of ‘wilfully misleading’ Seanad over An Bord Pleanála legislation  https://www.irishexaminer.com/news/politics/arid-41019713.html

• Eleven local authorities failed to deliver a single new-build home in first half of 2022 https://www.irishexaminer.com/news/arid-41016224.html

• Irish Government Is Hitting Housing Targets But Missing Real Need  https://www.bisnow.com/dublin/news/affordable-housing/irish-government-is-hitting-housing-targets-but-missing-real-need-116544

• Quarter of small landlords likely to sell properties in next five years: Politicians are to be briefed on the preliminary results of new research by the Residential Tenancies Board  https://www.irishtimes.com/ireland/housing-planning/2022/11/28/quarter-of-small-landlords-likely-to-sell-properties-in-next-five-years/

• International investor activity showed confidence in Ireland: Deals of scale were completed in 2022 with the reopening of the economy and a resurgence of activity, while investor interest in residential assets has been particularly strong https://www.businesspost.ie/property/international-investor-activity-showed-confidence-in-ireland/

• A year of skittish investors and strong returns for cash buyers: Continued inflation and rising interest rates mean pricing expectations will need to adjust across most real estate sectors next year, writes Conor Whelan of QRE. However, once this is accepted, the market is in a position to function well https://www.businesspost.ie/property/a-year-of-skittish-investors-and-strong-returns-for-cash-buyers/

 

• Resilient year for property investment despite headwinds: With Ireland possibly the only country in Europe to avoid going into recession, there remains a good level of demand in the investment market from a variety of investor types and nationalities https://www.businesspost.ie/property/a-resilient-year-for-property-investment-despite-headwinds/

 

• Flood minister hits out at planning system where ‘every Tom, Dick and Harry’ can object: “Are we going to continue to pretend that the current system works or are we going to say no, you need to prove a connection to a place in Ireland to object?” https://www.irishexaminer.com/news/munster/arid-41016833.html

• Up to 100,000 defective Celtic Tiger-era homes may need remediation – Scheme to fix defects to be submitted to Cabinet in weeks following report of working group  https://www.irishtimes.com/ireland/housing-planning/2022/12/01/up-to-100000-defective-celtic-tiger-era-homes-may-need-remediation/

• Mick Clifford: Citizens will pick up the tab for building defects  https://www.irishexaminer.com/opinion/commentanalysis/arid-41018741.html

• Technology Ireland Wants More High-Rise So Workers Can Live Near Office  https://businessplus.ie/news/technology-ireland-housing/

• A financial road map for Ireland’s Approved Housing Bodies  https://newstartmag.co.uk/articles/a-financial-road-map-for-irelands-approved-housing-bodies/

• Solicitor and builder suing over alleged mis-selling of pension investment fund https://www.breakingnews.ie/business/solicitor-and-builder-suing-over-alleged-mis-selling-of-pension-investment-fund-1399997.html

• Pfizer announces €1.2bn expansion plan in Dublin  https://amp.rte.ie/amp/1339385/

• Blackstone limits withdrawals at $125bn property fund – Fund has one Irish asset, an office block at Spencer Place in Dublin’s docklands https://www.irishtimes.com/business/2022/12/02/blackstone-limits-withdrawals-at-125bn-property-fund/

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

What started as #PropertyMatters, a single 60-minute show on Dublin South FM 93.9FM every Tuesday night, has now evolved into an online station hosting the very best construction, urban planning, property and proptech radio shows and podcasts from around the world. Our new website – produced by Hear Me Roar Media – offers audiences live and recorded access to global built environment content. To have your industry podcast included in the iPropertyRadio line-up, or to contribute as a guest on any of the show on iPropertyRadio.com, email hello@ipropertyradio.com

This week, listen back to investor ad developer Christina Buckley: https://ipropertyradio.com/breaking-ground/

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Digital Placemaking Tools for Public Consultation & Community Engagement | PLACEengage https://placeengage.com/digital-placemaking-tools-for-public-consultation-community-engagement/

 

• College Green plaza development costs set to soar as council advertises €10m design contract – Figure of €10m for pedestrianised area in city centre originally projected for both the design and construction phases  https://www.irishtimes.com/ireland/dublin/2022/12/03/college-green-plaza-development-costs-set-to-soar-as-council-advertises-10m-design-contract/

• Petition launched to save Hellfire Club from development plans: The Hellfire Club Walk is a steadfast tradition for many Dubliners  https://www.dublinlive.ie/news/dublin-news/petition-launched-save-hellfire-club-25651008.amp

• First Look: Dún Laoghaire Baths are finally set to reopen. It’s a breathtaking sight – After years of dereliction, then a seemingly neverending build, the outdoor areas of the Co Dublin town’s renovated baths are due to open on December 13th  https://www.irishtimes.com/life-style/2022/12/02/first-look-dun-laoghaire-baths-are-finally-set-to-reopen-its-a-breathtaking-sight/

 

• Pembroke Square / ALTU Architects – regeneration and extension of a late 19th Century Terrace. The site comprised a set of five late 19th Century terraced houses and an unused space to the rear of the houses https://www.archdaily.com/992907/pembroke-square-altu-architects

• Five of Dublin’s most controversial buildings and statues  https://m.independent.ie/regionals/dublin/dublin-news/five-of-dublins-most-controversial-buildings-and-statues-42181336.html

• Cork city will look completely different in the near future because of five major changes: New train stations, a Luas line, and an entire overhaul of the docklands are just some of the big plans to change the city’s face  https://www.corkbeo.ie/news/local-news/cork-city-look-completely-different-25637025

• Over €1.27 billion set to be invested across Cork County under the Council’s Capital Programme  https://www.thecork.ie/2022/11/30/over-e1-273-billion-set-to-be-invested-across-cork-county-under-the-councils-capital-programme/

• Micheál Martin ‘anxious’ to get new Cork hospital project moving: Speaking in Carrigtwohill yesterday, Mr Martin said the location for Cork’s elective hospital will be approved today.  https://www.echolive.ie/corknews/arid-41017112.html

• Six storey extension proposed for Crawford Art Gallery: ‘it will be transformative for the Crawford, creating new public spaces, protecting the national collections, and delivering the highest standards of sustainability.’  https://www.irishexaminer.com/property/arid-41018024.html

• Top architect tells Limerick people: ‘Go out there and grab your city back’  https://www.limerickleader.ie/news/home/978917/top-architect-tells-limerick-people-go-out-there-and-grab-your-city-back.html

• Design team appointed for multi million Ballymahon regeneration project https://www.longfordleader.ie/news/home/978361/design-team-appointed-for-multi-million-ballymahon-regeneration-project.html

• Protest at County Hall over lack of engagement on Athlone-Galway Greenway https://galwaybayfm.ie/galway-bay-fm-news-desk/protest-at-county-hall-over-lack-of-engagement-on-athlone-galway-greenway/

• Multiple objections to proposed glamping facility at Killarney racecourse  https://www.radiokerry.ie/news/multiple-objections-to-proposed-glamping-facility-at-killarney-racecourse-307971

• Donegal County Council and its partners scooped two national awards for its Historic Towns Initiatives at two award ceremonies in Dublin  https://www.donegaldaily.com/2022/11/29/double-awards-success-for-donegals-historic-towns-initiatives/amp/

• Opposition to west Donegal wind turbines will not blow over say community leaders  https://www.donegallive.ie/news/local-news/974194/opposition-to-west-donegal-wind-turbines-will-not-blow-over-say-community-leaders.html

• Proposals for creation of Daniel O’Connell Quarter in Cahersiveen to be finalised soon  https://www.radiokerry.ie/news/proposals-for-creation-of-daniel-oconnell-quarter-in-cahersiveen-to-be-finalised-soon-307511

• The Top Urban Planning Books of 2022: An annual list of the must-read books related to urban planning and its intersecting fields.  https://www.planetizen.com/features/119960-top-urban-planning-books-2022

 

CONSTRUCTION & DEVELOPMENT NEWS

 

• Developing with long-term sustainability in mind: Social and sustainable issues are now driving property development and retrofitting, and all stakeholders need to think about the bigger picture, the 9th National Property Summit heard https://www.businesspost.ie/commercial-reports/developing-with-long-term-sustainability-in-mind

 

• 2023 is shaping up to be a pivotal year for the delivery of offsite and other modern methods of construction in Ireland. Are you involved in the procurement, design, manufacture or delivery of MMC in Ireland? If so, help to shape the future of the industry by adding your voice to the 35+ members already collaborating through MMC Ireland. *Membership fee discount available based on turnover (see the membership form online for further details) Learn more: https://mmcireland.ie/

 

• The number of suicides in the UK construction sector has risen to its highest level in at least five years, as a new industry initiative launches to tackle the issue. According to an analysis of ONS figures by the Lighthouse Construction Industry Charity https://www.constructionnews.co.uk/agenda/mind-matters/new-welfare-initiative-launched-as-suicide-rate-rises-02-12-2022/

 

• Housing targets under major threat amid slump in homebuilding: CSO figures point to sharp slowdown in residential construction on foot of increasing costs  https://www.irishtimes.com/business/2022/12/02/government-housing-targets-under-major-threat-amid-slump-in-construction/

 

• How to make housing more affordable, from VAT cuts to planning reform: Rising interest rates, construction-cost inflation and an increase in the cost of living threaten to make the affordability crisis far worse  https://www.irishtimes.com/property/residential/2022/12/02/how-to-make-housing-more-affordable-from-vat-cuts-to-planning-reform/

 

• Ireland is building too many large detached houses, says construction body – Terraced houses and apartments are most carbon efficient, detached homes least  https://www.irishtimes.com/environment/2022/11/28/construction-of-large-detached-homes-needs-to-stop-green-building-body-says/

 

• Development land sales drop 72pc to €470m so far in 2022 https://m.independent.ie/business/commercial-property/development-land-sales-drop-72pc-to-470m-so-far-in-2022-42186731.html

 

• Will new law fix Ireland’s planning system?  New bill is  designed to limit judicial reviews on large developments. But some experts argue the problems lie elsewhere and that it is wrong to blame the backlog of housing and other projects on such reviews https://www.businesspost.ie/news-focus/in-dispute-will-a-new-law-fix-irelands-planning-system/ 

 

• Planning bill sparks concern among Greens: Tightening of rules around judicial reviews could deny basic rights and lead to legal challenges, say party members https://www.businesspost.ie/politics/planning-bill-sparks-concern-among-greens/  

 

• One in three SMEs admit they have had to write off more bad debts this year and construction was the main sector to state that this was their key issue (45pc) https://www.independent.ie/business/small-business/one-in-three-smes-admit-they-have-had-to-write-off-more-bad-debts-this-year-42192953.html

 

• Ireland needs new measures and a new mindset to build on: Demand for housing remains exceptionally strong and largely unsatisfied, but uncertainty is hampering investment and construction delivery viability remains to be properly addressed https://www.businesspost.ie/property/ireland-needs-new-measures-and-a-new-mindset-to-build-on/

 

• O’Devaney development still on hold after legal case resolved – Bartra Capital won its bid to overturn ban on selling about half of homes to institutional investor, but said council work was delaying start of construction https://www.businesspost.ie/news/odevaney-development-still-on-hold-after-legal-case-resolved/ 

 

• Clerys redeveloper requests planning change: OCES Property has raised concerns that two smaller spaces, for retail and food-and-beverage, would be better used as one larger space for ‘quality food’ offerings from market-leading brands https://www.businesspost.ie/news/clerys-redeveloper-requests-planning-change-for-restaurant/   

 

• Department of Health demands final costs for new children’s hospital: HSE told final costs must be ‘bottomed out’ while Government will need to approve any additional sums  https://www.irishtimes.com/politics/oireachtas/2022/11/30/department-of-health-demands-final-costs-for-childrens-hospital/

 

• Ballymore’s Sean Mulryan focusing on Ireland not Britain after 40 years of ups and downs: Caution is the watchword for the developer and racing fan: https://www.thetimes.co.uk/article/ballymores-sean-mulryan-focusing-on-ireland-not-britain-after-40-years-of-ups-and-downs-zmh2p6zcp

 

• Blackrock residents take second challenge to apartment scheme over role of ex-Bord Pleanála deputy chief Paul Hyde  https://m.independent.ie/irish-news/courts/blackrock-residents-take-second-challenge-to-apartment-scheme-over-role-of-ex-bord-pleanala-deputy-chief-paul-hyde-42180028.html

 

• Aldi to open 11 new stores in Dublin in €73m investment  https://www.rte.ie/news/business/2022/1128/1338675-aldi-dublin-expansion/

 

• Republic of Austria and Dublin 4 residents object to Cairn’s plan for former RTÉ lands: Housebuilder planning 688 apartments and a hotel for site in second attempt to build on lands  https://www.irishtimes.com/business/2022/12/01/republic-of-austria-and-dublin-4-residents-object-to-cairns-plan-for-former-rte-lands/

 

• Plan for new four-storey apartment block on outskirts of Cork town: Under the plan, all of the apartments would be in one building and there’d be a basement as well as undercroft car parking https://www.corkbeo.ie/news/local-news/plan-new-four-storey-apartment-25630492

 

• Watch: Drone cam shows works finished on N22 Macroom Bypass as its ready to go: The flyover reveals the finishing touches are being put to the eastern section as signage and markings completed  https://www.corkbeo.ie/news/local-news/watch-drone-cam-shows-works-25615779.amp

 

• Celtic Tiger-era Cork property developer escapes debts of €170 million in record court deal/ Dentist-turned-developer Barry Harte secures personal insolvency arrangement from the High Court  https://www.irishtimes.com/business/2022/11/28/celtic-tiger-era-cork-property-developer-escapes-debts-of-170-million-in-court-deal/

 

• Plans to demolish ruined building for shops and apartments https://www.galwaydaily.com/news/housing/plans-to-demolish-ruined-building-for-shops-and-apartments/

 

• Galway eyesore that could ‘collapse’ demolition plan as permission sought: The building has been described a ‘ruinous’  https://www.galwaybeo.ie/news/galway-news/planning-permission-sought-demolishing-eyesore-7876700

 

• ‘Furore’ over rezoning plan for access to B&B on Headford Road in Galway  https://connachttribune.ie/furore-over-rezoning-plan-for-access-to-bb-on-headford-road-in-galway/

 

• Plans submitted for Headford housing development  https://www.galwaydaily.com/news/housing/plans-submitted-for-headford-housing-development/

 

• Plans lodged for 60 apartments in Galway City  https://www.galwaydaily.com/news/plans-lodged-for-60-apartments-in-galway-city/

 

• Plans for Lidl in Portumna rejected by county planners  https://galwaybayfm.ie/galway-bay-fm-news-desk/plans-for-lidl-in-portumna-rejected-by-county-planners/

 

• Contract has been awarded for construction of Waterford’s North Quays  https://www.wlrfm.com/news/contract-has-been-awarded-for-construction-of-waterfords-north-quays-279874

 

• Abbott Ireland get permission for huge manufacturing building in Kilkenny  https://www.kilkennypeople.ie/news/kilkenny-city/977410/breaking-abbott-ireland-get-permission-for-huge-manufacturing-building-in-kilkenny.html

 

• Locals oppose Magnier plan for hotel extension close to the Rock of Cashel: Cashel normally supports billionaire family but development raises a range of concerns including that it could scupper Unesco World Heritage status for the rock https://www.irishtimes.com/ireland/2022/12/03/locals-oppose-magnier-plan-for-hotel-extension-close-to-the-rock-of-cashel/

 

• Permission for Meath data centre is breach of neighbour’s constitutional rights, court told: Mannix and Amy Coyne claim An Bord Pleanála’s decision to grant planning permission for the centre is flawed and should be set aside.  https://www.thejournal.ie/courts-data-centre-meath-breach-constitutional-rights-5933379-Nov2022/

 

• First phase of new 67-home development in Portlaoise set to be handed over early next year  https://www.laoistoday.ie/2022/11/28/first-phase-of-new-67-home-development-in-portlaoise-set-to-be-handed-over-early-next-year/

 

• Green light for first crematorium in Kildare  https://www.leinsterleader.ie/news/home/977581/breaking-green-light-for-first-crematorium-in-kildare.html

 

• Louth County Council decision to permit three-story apartment complex in Blackrock is overturned by An Bórd Pleanála  https://www.independent.ie/regionals/louth/louth-county-council-decision-to-permit-three-story-apartment-complex-in-blackrock-is-overturned-by-an-bord-pleanala-42187914.html

 

• Plans for Celtic Tiger private hospital resurrected in Midlands town: €60 million project https://www.leinsterexpress.ie/news/business/976175/plans-for-celtic-tiger-private-hospital-resurrected-in-midlands-town.html

 

• Plan for 60 apartments in south Mayo town under appeal  https://www.con-telegraph.ie/2022/12/01/plan-for-60-apartments-in-south-mayo-town-under-appeal/

 

• First Look: Major new development proposed for Letterkenny https://www.donegaldaily.com/2022/12/01/first-look-major-new-development-proposed-letterkenny/

 

• Tralee development rejection appealed to An Bord Pleanála  https://www.radiokerry.ie/news/tralee-development-rejection-appealed-to-an-bord-pleanala-308046

 

• Tipperary blocklayer remanded in custody over litany of offences  https://www.tipperarylive.ie/news/home/977617/breaking-tipperary-blocklayer-remanded-in-custody-over-litany-of-offences.html

 

• Danny Healy Rae’s plant-hire firm posts record profit of €1.07 million: The record profit resulted in the company’s accumulated profits rising from €2.58 million to €3.65 million at the end of December last.  https://www.thejournal.ie/danny-healy-rae-plant-hire-firm-record-profit-5932409-Nov2022/

 

• Conack Construction founders named established entrepreneurs of the year: Limerick building and civil engineering contractor generated turnover of nearly €122m in 2021 https://www.irishtimes.com/business/2022/11/30/ey-awards-conack-construction-founders-named-established-entrepreneurs-of-the-year/

 

• C+W O’Brien Architects to Hire 35 New Staff  https://www.constructionnetworkireland.com/cw-obrien-architects-to-hire-35-new-staff/

 

• Henry J Lyons lets 20 staff go as projects pipeline reduces: Redundancies believed necessary at one of the biggest architecture firms in Ireland due to many planned housing projects not going ahead as intended within the next year https://www.businesspost.ie/news/henry-j-lyons-lets-20-staff-go-as-projects-pipeline-reduces/

 

• Progress made in Seán Dunne family dispute over Co Kildare properties, court hears: Five of Dunne’s children, from two marriages, obtained a temporary High Court injunction against businessman  https://www.irishtimes.com/business/2022/12/01/court-hears-of-progress-in-dispute-over-co-kildare-properties-linked-to-sean-dunne/

 

• “Putting architects in control will not solve the building safety crisis”  https://www.dezeen.com/2022/11/30/architects-building-safety-crisis-grenfell-peter-apps/

 

• Arcadis completes the acquisition of DPS Group, creating a leading position in the Life Sciences and Semiconductor manufacturing market  https://www.arcadis.com/en/news/global/2022/12/acquisition-of-dps-group

 

 

PROPTECH, ESG, MMC & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2022 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: *https://prop-tech.ie/register/ * and email product or service details to hello@prop-tech.ie

 

• Proptech Ireland: Ireland’s CONSTRUCTION and REAL ESTATE ESG technologies resource hub. Confused about how and where to start on your ESG journey? Contact us 👉https://prop-tech.ie

 

• Dr Darren McAdam-O’Connell of Cork’s Transport Mobility Forum (TMF) said he opposes the variation as it “attacks the progress that was made, and it’s a step backwards”.  https://www.echolive.ie/corknews/arid-41016419.html

 

• Irish realtors say they don’t need portals anymore  https://aimgroup.com/2022/11/28/irish-realtors-say-they-dont-need-portals-anymore/

 

• ‘If the job is to keep it ticking over and not to disrupt it, I’m not your woman’: Purplebricks challenged the estate agency sector with its business model and now is doing so again with its boss  https://www.thetimes.co.uk/article/if-the-job-is-to-keep-it-ticking-over-and-not-to-disrupt-it-im-not-your-woman-hggmwmjjp

 

• There are only two accelerators European VCs care about: Accelerators programmes are aplenty in Europe — but what do VCs really think about them  https://sifted.eu/articles/accelerators-european-vcs/

 

• Proptech in Review: 3 investors explain why they’re bullish on tech that makes buildings greener https://techcrunch.com/2022/11/30/proptech-in-review-3-investors-explain-why-theyre-bullish-on-tech-that-makes-buildings-greener/

 

• Explore digital real estate from the perspective of people. This report looks at the impact on people, the role of data, sector wide implications and identify the actions needed for the sector to move forward: REvolve https://www.revolveinsight.com/reports

 

• Four Leading Trends In The PropTech Industry  https://www.forbes.com/sites/forbesbusinesscouncil/2022/11/29/four-leading-trends-in-the-proptech-industry/

 

• How the new wave of proptech tools is reshaping commercial real estate https://www.theglobeandmail.com/business/industry-news/property-report/article-how-the-new-wave-of-proptech-tools-is-reshaping-commercial-real-estate/

 

• Modumate: BIM powered by Unreal Engine  https://aecmag.com/bim/modumate-bim-powered-by-unreal-engine/

 

• How Wearable Technology Can Improve Safety on the Jobsite: Using the Internet of Things, construction firms can improve the safety of their workers and the jobsite https://www.forconstructionpros.com/construction-technology/article/22485530/heavy-construction-systems-specialists-inc-hcss-how-wearable-technology-can-improve-safety-on-the-jobsite

 

• PropTech Today: Opportunities for agents if they adopt ‘systems and tech’  https://www.estateagenttoday.co.uk/breaking-news/2022/12/proptech-today-opportunity-knocks-for-agents-if-they-adopt-systems-processes-and-tech?source=newsticker

 

• Transforming old cardboard boxes into insulation nets CleanFiber $10 million round  https://techcrunch.com/2022/11/30/transforming-old-cardboard-boxes-into-insulation-nets-cleanfiber-10-million-round/

 

• UK’s female-founded corporate accommodation platform AltoVita bags €9M to provide employees with safe, sustainable living  https://siliconcanals.com/crowdfunding/altovita-bags-9m/

 

• Proptech start-up secures £13m from San Francisco-based investor  https://www.thebusinessdesk.com/northwest/news/2106944-proptech-start-up-secures-13m-from-san-francisco-based-investor

 

• Finnish proptech Rive cements €23M to resolve Europe’s critical housing problems  https://techfundingnews.com/finnish-proptech-rive-cements-e23m-to-resolve-europes-critical-housing-problems/

 

ENERGY, CLIMATE & ENVIRONMENT

• ‘For the first time, we will have an EU-wide active carbon sink policy’  https://www.euractiv.com/section/climate-environment/interview/lawmaker-for-the-first-time-we-will-have-an-eu-wide-active-carbon-sink-policy/

 

• Global renewables company “commits to Cork” with new HQ: Company has over 900MW of solar and onshore wind developments in the pipeline, including projects based in Cork, which if all fully realised would have the potential to supply up to 300,000 households with clean, renewable energy https://www.echolive.ie/corknews/arid-41019908.html

 

• Microsoft plans private power plant on €900m data centre site – Concerns about constraints on Ireland’s energy grid prompt action by tech giant, with facility likely to add at least €100m to cost of Dublin project https://www.businesspost.ie/news/microsoft-plans-private-power-plant-on-e900m-data-centre-site/

 

 

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• Irish homeowners to keep paying high interest rates even if repossessions rise: It was thought by some that allowing home to be repossessed more easily would bring interest rates down, but Finance’s Retail Banking Review states that the move would make little difference to the cost of loans https://www.businesspost.ie/news/irish-homeowners-to-keep-paying-high-interest-rates-even-if-repossessions-rise/

 

• What happens next for Irish house prices? Smart Money: Irish house prices look to have risen ahead of the economy, but that does not necessarily mean they will fall in the short term  https://www.irishtimes.com/your-money/2022/12/01/how-can-we-tell-if-irish-house-prices-are-overvalued/

 

• Residential market settles after post-pandemic frenzy: International economic shocks, inflation and rising interest rates have slowed activity, writes Catherine O’Connor of Colliers. However, demand remains solid, particularly at the upper end of the market https://www.businesspost.ie/property/residential-market-settles-after-post-pandemic-frenzy/

 

• Our 12 favourite houses of 2022, from castle to clifftop mansion, and from €615k to €10m  https://www.irishtimes.com/property/residential/2022/12/01/our-12-favourite-houses-of-2022-from-castle-to-clifftop-mansion-and-from-615k-to-10m/

 

• Government confirms €5,000 increase in income eligibility for social housing  https://www.breakingnews.ie/ireland/government-confirms-e5000-increase-in-income-eligibility-for-social-housing-1398994.html

 

• Structural and IT issues causing backlogs at rental regulator, director says https://www.breakingnews.ie/ireland/structural-and-it-issues-causing-big-backlogs-at-rental-regulator-director-says-1399080.html

 

• Homeowners in Dublin’s most affluent coastal areas will struggle to get home insurance due to climate change https://www.thetimes.co.uk/article/homeowners-in-dublins-most-affluent-coastal-areas-will-struggle-to-get-home-insurance-due-to-climate-change-dbwpn65jx

 

• ‘Lady in Red’ singer Chris de Burgh slashes €3m off price tag off Wicklow childhood home of Rosanna Davison: Bushey Park hit the headlines after being listed as one of Ireland’s most expensive homes back in 2019 for €12.9m  https://m.independent.ie/entertainment/lady-in-red-singer-chris-de-burgh-slashes-3m-off-price-tag-off-wicklow-childhood-home-of-rosanna-davison-42178152.html

• Worth it? What €200k, €600k and €1.35million will get you in Cork https://extra.ie/2022/12/03/property/worth-it-cork-property

• Renters paying €12,000 more per annum in Galway City than ten years ago  https://connachttribune.ie/renters-paying-e12000-more-per-annum-in-galway-city-than-ten-years-ago/amp/

• Derelict Limerick properties are being transformed  https://www.live95fm.ie/news/live95-news/derelict-limerick-properties-are-being-transformed/

• Making Cents: How to buy a home in Limerick with no savings  https://www.limerickleader.ie/news/columns-opinion/975013/making-cents-how-to-buy-a-home-in-limerick-with-no-savings.html

• The builders working on my daughter’s home don’t use safety gear. Is she liable if an accident occurs? Property Clinic: Several of the workers don’t wear hard hats when climbing ladders and using scaffolding  https://www.irishtimes.com/property/residential/2022/11/29/the-builders-working-on-my-daughters-home-dont-use-safety-gear-is-she-liable-if-an-accident-occurs/

• Interior trends for 2023: We talk to a designer about the trends that all buyers should know about: Space-zoning, Japandi longevity and Boho upgrades… we’ve got everything you need to know to make a mark on your new home! https://www.thejournal.ie/interior-design-trends-for-2023-5927718-Nov2022/

• Townhouse and apartment options at Marine Hotel in West Cork’s Riviera, Glandore: A commercial block could be converted to residential without the need to go for planning permission  https://www.irishexaminer.com/property/commercial/arid-41020136.html

• Four ‘fixer-upper’ properties going to auction in Cork just before Christmas: Overall, nineteen lots from eight counties across Ireland are featured in the December 15 auction  https://www.corkbeo.ie/news/property/four-fixer-upper-properties-going-25658489

COMMERCIAL PROPERTY NEWS

• SCSI And Dublin Chamber Publish SME Commercial Property Guide  https://businessplus.ie/sme/commercial-property-guide/

 

• Being sustainable doesn’t end with choosing a green building: To ensure optimum efficiency in a modern office structure, building systems must be operated and adequately maintained by qualified and experienced experts https://www.businesspost.ie/property/being-sustainable-doesnt-end-with-choosing-a-green-building/

 

• Industrial and logistics sector should weather market turbulence: Investors still favour this asset class due to its strong fundamentals, but they want a higher return https://www.businesspost.ie/property/industrial-and-logistics-sector-should-weather-market-turbulence/

 

• Bewley’s cafe on Grafton Street records loss of €1.7m: Latest accounts show parent entity yet to formalise discretionary financial support necessary for cafe to operate as a going concern  https://www.irishtimes.com/business/2022/11/28/bewleys-cafe-on-grafton-street-records-loss-of-17m/

 

• Grafter offices, retail and cafe to open at landmark Topshop building – Flexible workspace provider agrees deal with Paddy McKillen jnr and Matt Ryan for 6-7 St Stephen’s Green  https://www.irishtimes.com/property/commercial-property/2022/11/30/grafter-offices-retail-and-cafe-to-open-at-landmark-top-shop-building/

 

• Over a fifth of all tourist beds are now contracted to the State for refugees and others, report says: Over-reliance on tourist accommodation could affect hotel prices, revenue and tourism jobs next year, industry leaders say https://m.independent.ie/life/travel/travel-news/over-a-fifth-of-all-tourist-beds-are-now-contracted-to-the-state-for-refugees-and-others-report-says-42187676.html

 

• US firm claims it is being forced to remain a tenant of Citywest offices despite lease break clause: FISC-Ireland Ltd says the Citywest landlord has failed to comply with an agreement regarding a short extension of the lease  https://www.irishtimes.com/business/2022/11/29/us-firm-claims-it-is-being-forced-to-remain-a-tenant-of-citywest-offices-despite-lease-break-clause/

 

• Zendesk to vacate two floors at Dublin HQ as losses increase to €5.4m: San Francisco-headquartered software company plans to shed 5% of its global workforce, with some Dublin jobs to go  https://www.irishtimes.com/business/2022/12/01/zendesk

 

• Leading law firm signs deal for new offices at former Bord na Móna HQ: BHSM LLP relocates operations from Harcourt Terrace to third floor at 76 Baggot Street Lower  https://www.irishtimes.com/property/commercial-property/2022/11/30/leading-law-firm-signs-deal-for-new-offices-at-former-bord-na-mona-hq/

 

• Ashford Castle owner seeks €25m for landmark Hatch Hall: Red Carnation abandons plan for 60-bedroom boutique hotel in Dublin on site of former student residence  https://www.irishtimes.com/property/commercial-property/2022/11/30/ashford-castle-owner-seeks-25m-for-landmark-hatch-hall/

 

• Cork’s Marina Market owners in talks to buy historic Douglas Village shopping centre: One of Ireland’s longest-established shopping centres bounced back after a devastating fire and is now expected to be sold for around €23m  https://www.irishexaminer.com/news/munster/arid-41020562.html

 

• Landmark building in heart of Kilkenny village for sale  https://www.kilkennypeople.ie/news/property/977735/landmark-building-in-heart-of-kilkenny-village-for-sale-see-inside.html

 

• Golfer Shane Lowry chips in with pal to open restaurant and bar in Tullamore  https://m.independent.ie/business/irish/golfer-shane-lowry-chips-in-with-pal-to-open-restaurant-and-bar-in-tullamore-42187170.html

 

• Old Post Office in Tipperary given new lease of life Pharmacy Group opens flagship store  https://www.tipperarylive.ie/news/home/978280/old-post-office-in-tipperary-given-new-lease-of-life-pharmacy-group-opens-flagship-store.html

 

• New Donegal town garda station design scoops top Net Zero energy award: The form and character of the original street facing front façade has re­mained intact, whilst the new four-storey rear extension is largely glazed with a bespoke steel mesh cladding providing solar shade and visual screening https://www.donegallive.ie/news/property/974642/new-donegal-town-garda-station-design-scoops-top-net-zero-energy-award.html

 

• A third-generation bungalow transformed in County Mayo  https://www.rte.ie/lifestyle/living/2022/1128/1338707-a-third-generation-bungalow-transformed-in-county-mayo/

 

INTERNATIONAL PROPERTY NEWS

• UK Landlords seek support over changes to rental law  https://propertyindustryeye.com/landlords-seek-support-over-changes-to-rental-law/

 

• The UK government is considering making home owners apply for planning consent if they wish to use a property for holiday lets. The Times says this is one idea under consideration to help limit the spread https://www.landlordtoday.co.uk/breaking-news/2022/12/gove-may-make-planning-consent-compulsory-for-holiday-lets

 

• Only planning reform can fix Britain’s housing crisis  https://www.theguardian.com/society/2022/nov/29/only-planning-reform-can-fix-britains-housing-crisis

 

• Mace hits 1m tonnes carbon saving target for clients  https://www.constructionenquirer.com/2022/12/01/mace-hits-1m-tonnes-carbon-saving-target-for-clients/

 

• Dezeen’s top 10 reuse architecture projects of 2022 https://www.dezeen.com/2022/12/01/reuse-architecture-renovations-refurbishments-2022-review/

 

• Will Alsop’s upside-down-boat cafe becomes British Isles’ “youngest listed building”  https://www.dezeen.com/2022/12/01/will-alsop-la-fregate-cafe-awarded-grade-ii-listed-status/

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/