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: 

• Irish families’ wealth is surging, helped by house prices: Household wealth on track to exceed €1tn next year https://www.irishtimes.com/business/economy/irish-families-wealth-is-surging-helped-by-house-prices-1.4744937

• Dublin among top 20 most expensive cities to live in https://www.irishexaminer.com/news/arid-40756839.html

• David McWilliams: If Finland can eliminate homelessness, so can we: Housing NGOs could work with builders to identify refurbishment opportunities https://www.irishtimes.com/opinion/david-mcwilliams-if-finland-can-eliminate-homelessness-so-can-we-1.4745881

• Members of the Mica Action Group gained unanimous support following strong presentations to the European Parliament Petitions Committee today. https://www.donegaldaily.com/2021/12/01/mica-homeowners-gain-unanimous-support-at-european-parliament/amp/ Also:  Government agrees to €2.2bn Mica redress scheme: Donegal and Mayo homes affected by defective blocks will have access to remediation  https://www.irishtimes.com/news/politics/government-agrees-to-2-2bn-mica-redress-scheme-1.4742852

• Landlords will be able to hike rents by multiples of new rent control caps if they have not increased rents in several years: New rent control legislation will allow landlords of homes in rent pressure zones (RPZs) to compound the cap from previous years. https://m.independent.ie/irish-news/politics/landlords-will-be-allowed-to-hike-rents-in-excess-of-current-caps-41102055.html

• Worrying trend – Allianz pauses investments in Irish residential property market: Firm’s Irish insurance arm was concerned about potential reputational risk to its business https://www.irishtimes.com/business/construction/allianz-pauses-investments-in-irish-residential-property-market-1.4743297 Also: Driving big investors like Allianz away from housing is a lose-lose situation: Institutional capital has a role to play in solving the housing crisis, even if one side of the debate doesn’t want to hear this https://www.irishtimes.com/business/financial-services/driving-big-investors-like-allianz-away-from-housing-is-a-lose-lose-situation-1.4744280 Latest: Reports Allianz has paused investment in Irish housing market are ‘misleading’: The company says it has made a number of real estate investments in Ireland and it would continue to do so  https://www.businesspost.ie/houses/reports-allianz-has-paused-investment-in-irish-housing-market-are-misleading-f65edbbc 

• Quanta ducks out as lending cap bites: Property investor drops its move for Yew Grove after Central Bank says it will lower the amount funds can borrow  https://www.thetimes.co.uk/article/quanta-ducks-out-as-lending-cap-bites-0f6zrpvdx

• Rents, rhetoric, reality: Unpicking the data behind foreign investment in Irish property, which is dependent on foreign funding. How did we end up here, and what does the model deliver? Plus, what happens if foreign investors flee the market? https://thecurrency.news/articles/67896/rents-rhetoric-reality-unpicking-the-data-behind-foreign-investment-in-irish-property/

• Nama board said it was ‘disappointing’ it couldn’t pay staff bonuses: Agency warned against practice by Minister of Finance Paschal Donohoe https://www.irishtimes.com/business/financial-services/nama-board-said-it-was-disappointing-it-couldn-t-pay-staff-bonuses-1.4743074

• Eighth edition of Property Summit captures a changing industry: A sector in flux’ was the theme of the event, which took place online on December 1 https://www.businesspost.ie/commercial-reports/eighth-edition-of-property-summit-captures-a-changing-industry-ce034a6e

• Is 2021 an inflection point for green lending? Greenwashed loans will soon become limited due to intervention at EU level and advancements in the valuation process, so the competitive edge will be with those who invest in sustainable buildings https://www.businesspost.ie/commercial/is-2021-an-inflection-point-for-green-lending-53bd111e

• Housing Finance Agency chief open to expanding retrofitting funding  https://www.breakingnews.ie/amp/ireland/housing-finance-agency-chief-open-to-expanding-retrofitting-funding-1222083.html

• Atkins picked to maintain Ireland’s motorways https://www.globalconstructionreview.com/atkins-picked-to-maintain-irelands-motorways/

• Why the world needs a fresh take on smart and sustainable infrastructure https://www.weforum.org/agenda/2021/11/smart-sustainable-infrastructure/

• Request for help… It has been seven years since we built the first fully-compliant, shipping container home in the Republic of Ireland (Patrick Bradley’s stunning Grillagh House build was the first on the island of Ireland!) – and we’re doing it again. The Property District team is currently working to build a prototype off-grid, live-work container home as a model to support startup founders and entrepreneurs who cannot afford to pay Irish rents while renting an office space and building their businesses. Any help from the industry will be appreciated – especially in the form of skills, steel, insulation or glazing! Contact carol@propertydistrict.ie to get involved. Let the fun begin, again..

If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/sunday-roundup/ 

As always, you might let me know if I have missed out on any relevant property news by emailing  carol@propertydistrict.ie.

(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice-to-text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)

SUNDAY LISTEN

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

Season 4, Episode 11: Property Matters, November 30th, 2021 – Homebuyers Hero and Ility

This week on #PropertyMatters   iPropertyRadio.com I am joined by Colm Casey, CEO Homebuyer’s Hero in part 1 to discuss Ireland’s broken property processes, the lack of transparency when buying a home in Ireland, and what role proptech (property technology) can play in addressing this. Colm also talks about how homebuyers can play a part by working with homebuilders to de-risk new developments in rural villages and towns around the country. 

Watch back part 1: https://youtu.be/6LBoHFNnQ_s  

In part 2, Marcus Moufarrige, CEO of ility (a no-code platform that connects new and legacy systems) joins us to discuss how building owners and operators can take control over their technology, operations and offer, to drive increased net operating income. It’s all about flexibility, profitability and sustainability!

Watch back part 2: https://youtu.be/2rOszuAjdH0

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

Email the Property Matters team at info@propertydistrict.ie 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• Built fabric of towns much more than product of economics: Housing shortage and city culture must be approached with care not expediency https://www.irishtimes.com/opinion/built-fabric-of-towns-much-more-than-product-of-economics-1.4742112

• Funding of €15.5m to develop outdoor adventure projects across Ireland  https://www.breakingnews.ie/amp/ireland/funding-of-e15-5m-to-develop-outdoor-adventure-projects-across-ireland-1220665.html

• Public consultation launched on all-island strategic rail review: The deadline for submissions as part of the public consultation is January 21, 2022. https://www.thejournal.ie/all-island-rail-review-public-consultation-5615192-Nov2021/

• State must be linchpin for reimagining our city centres: The Liberties and Dublin 8 neighbourhood provide a blueprint for city of the future https://www.irishtimes.com/opinion/state-must-be-linchpin-for-reimagining-our-city-centres-1.4744022

• Serial objectors don’t help in trying to solve the housing crisis: There’s a whiff of #Nimby-ism in the air, with numerous building projects being legally challenged on various – and often questionable – grounds. Has it become too easy to do so? https://www.businesspost.ie/Planning/ian-guider-serial-objectors-dont-help-in-trying-to-solve-the-housing-crisis-75b0a27f

• College Green pedestrianisation pushed back to 2024: Plans for traffic-free plaza first proposed in 2015 but rejected by planning board in 2018 https://www.irishtimes.com/news/environment/college-green-pedestrianisation-pushed-back-to-2024-1.4744284 (pictured)

• It’s a walk in the park: Dubs get exercised over digital dollars: Visitors to five parks in Dublin 8 can earn credits if they sign up for exercise-tracking app https://www.irishtimes.com/news/social-affairs/it-s-a-walk-in-the-park-dubs-get-exercised-over-digital-dollars-1.4741246

• South Dublin residents plan legal challenge to homeless hostel in Georgian Hotel – A Councillor said it was ‘outrageous’ local reps weren’t informed and an ‘affront’ that residents weren’t told about it  https://www.dublinlive.ie/news/dublin-news/south-dublin-residents-plan-legal-22348216

• Government can expect ‘grey vote’ backlash if it doesn’t take senior living seriously: We lack any kind of specialist senior living or independent retirement community sector in Ireland https://www.irishtimes.com/business/construction/government-can-expect-grey-vote-backlash-if-it-doesn-t-take-senior-living-seriously-1.4739985

• Sandymount residents seek change to BusConnects route: New C-Spine routes come into operation on Sunday along with versatile 90-minute fare https://www.irishtimes.com/news/environment/sandymount-residents-seek-change-to-busconnects-route-1.4741141

• Two Cork villages to gain vital links to city from early December: ‘The connections that the two new stops will facilitate are incredibly important for these two communities along the N20.’  https://www.corkbeo.ie/news/two-cork-villages-gain-vital-22310715

• Plans for major upgrade of civic centre in Limerick village are revealed https://www.limerickleader.ie/news/community/701200/plans-for-major-upgrade-of-civic-centre-in-limerick-village-are-revealed.html

• John Bruton fails to dazzle villagers with solar farm: Former taoiseach and his cousin face opposition over application for 227 acres of panels on Meath farmland https://www.thetimes.co.uk/article/john-bruton-fails-to-dazzle-villagers-with-solar-farm-t7dr9bv69

• ‘It’s a distillery, not Rapunzel’s castle’ – Locals object to Dingle distillery expansion: The company also plans to provide a shuttle bus service from the centre of Dingle for visitors during summer months  https://www.irishexaminer.com/news/munster/arid-40756809.html

*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details* https://www.youtube.com/watch?v=rdwwKy4MA_4 

CONSTRUCTION & DEVELOPMENT NEWS

• Construction output up 7.5% but still remains lower than pre-pandemic levels  https://www.breakingnews.ie/amp/ireland/construction-output-up-7-5-but-still-remains-lower-than-pre-pandemic-levels-1222595.html 

• Builders’ levy for €2bn mica bill could net taxpayer annual €80m: Finance minister will bring proposal forward next year https://m.independent.ie/irish-news/news/builders-levy-for-2bn-mica-bill-could-net-taxpayer-annual-80m-41119486.html

• Government signs into law increased pay rates for building workers: Construction staff to get two pay increases of 2.8% over next two years, following Labour Court recommendation https://www.irishtimes.com/business/construction/government-signs-into-law-increased-pay-rates-for-building-workers-1.4742105

• Can construction sector overcome spiralling costs? https://www.businesspost.ie/commercial/tina-marie-oneill-can-construction-sector-overcome-spiralling-costs-cc89ecfb

• Proposed hotel at site of Dublin’s Cobblestone pub refused planning permission: The pub itself is a protected structure, and according to the planning application, it would be retained as part of any development. https://www.thejournal.ie/cobblestone-pub-planning-permission-refused-5614913-Nov2021/?amp=1 Also: Developers may appeal after planners reject hotel on site of pub  https://www.thetimes.co.uk/article/developers-may-appeal-after-planners-reject-hotel-on-site-of-pub-br9dthg50

• High Court clears way for challenge to Rathfarnham apartments: Ballyboden Tidy Towns Group seeks court order quashing permission for six blocks https://www.irishtimes.com/business/commercial-property/high-court-clears-way-for-challenge-to-rathfarnham-apartments-1.4743176

• Developer seeks to stop Killiney residents challenging plan to build 255 houses  https://www.breakingnews.ie/ireland/developer-seeks-to-stop-killiney-residents-challenging-plan-to-build-255-houses-1222840.html

• Appeals board turns down 12 storey build to rent scheme for Dublin’s Upper Abbey Street https://www.breakingnews.ie/amp/ireland/appeals-board-turns-down-12-storey-build-to-rent-scheme-for-dublins-upper-abbey-street-1222810.html

• Planning permission granted for 1,221 unit Baldoyle apartment scheme: Shoreline Partnership to sell 122 apartments to council for €46.4m  https://www.irishtimes.com/business/construction/planning-permission-granted-for-1-221-unit-baldoyle-apartment-scheme-1.4742139?localLinksEnabled=false

• Cairn Homes lodges planning for 569 homes to kick off new Dublin town: South Dublin County Council has plans for up to 9,000 homes in Clonburris https://www.irishtimes.com/business/construction/cairn-homes-lodges-planning-for-569-homes-to-kick-off-new-dublin-town-1.4745713

• House at St James’s Street with planning permission for sale at reduced price of €750,000: No 134 James’s Street in Dublin 8 is four-storey over basement mid-18th-century house that could be converted into a boutique 20-bedroom hotel https://www.businesspost.ie/commercial/house-at-st-jamess-street-with-planning-permission-for-sale-at-reduced-price-of-eur750000-caa5ed0c

• O’Flynn seeks to build 275 homes on Cork’s northside: Plan would see 205 houses and 70 apartments developed off the Ballyhooly Road, a short distance from the Ballyvolane Shopping Centre  https://www.irishexaminer.com/news/munster/arid-40754469.html

• Planning refused for build-to-rent apartment block in Cork city centre: The site has been vacant since 2017 and hadn’t been used for a number of years before that  https://www.corkbeo.ie/news/local-news/planning-refused-build-rent-apartment-22326957

• ‘Huge confidence’ events centre construction could get under way by March, councillor says  https://www.echolive.ie/corknews/arid-40756536.html

• ‘The beating heart of Irish whiskey’: Distillers announce multi-million redevelopment in Cork  https://www.echolive.ie/corknews/arid-40754922.html

• Backlash over huge housing development in Galway over fears area could ‘lose its character’: An application for a new housing development have been met with several objections from residents  https://www.galwaybeo.ie/news/galway-news/backlash-over-huge-housing-development-6284634

• Permission sought to develop ‘country lodge’ in Limerick village  https://www.limerickleader.ie/news/planning/702045/permission-sought-to-develop-country-lodge-in-limerick-village.html

• Construction of new UHL bed block set to start in early 2022 https://www.live95fm.ie/news/live95-news/construction-on-new-uhl-bed-block-to-start-in-early-2022/

• Construction finally underway at €80m development in Limerick city: The 1BQ riverside block at Bishop’s Quay is due to be completed in autumn 2023 https://www.businesspost.ie/commercial/construction-finally-underway-at-eur80m-development-in-limerick-city-4f1f5f7d

• Twenty large-school building projects are given the green light: The programme includes 12 new-builds and eight major refurbishments https://m.independent.ie/irish-news/education/twenty-large-school-building-projects-are-given-the-green-light-41116407.html

• New Housing Development On It’s Way To the Midlands  https://www.midlands103.com/news/midlands-news/new-housing-development-on-its-way-to-the-midlands/

• Louth County Council has given the go-ahead the go-ahead for a new mixed-use development in Dublin Street, Dundalk. https://m.independent.ie/regionals/louth/news/approval-for-mixed-use-development-in-dublin-street-41115453.html

• Plans for historic market site in Naas  https://www.kildarenow.com/news/home/701658/plans-for-historic-market-site-in-naas.html

• Three warehouses proposed for Celbridge in County Kildare, planning permission documents show https://www.kildarenow.com/news/home/700610/three-warehouses-proposed-for-celbridge-in-county-kildare-planning-permission-documents-show.html

• Planning application lodged for five townhouses in Butlersbridge https://www.northernsound.ie/news/planning-application-lodged-for-five-townhouses-in-butlersbridge-185762

• Kilsaran announces the acquisition of Oran Precast  https://irishbuildingmagazine.ie/2021/12/01/kilsaran-announces-the-acquisition-of-oran-precast/

• Bridging lender Onate targets growth after securing €60m funding: Irish property lender sees itself garnering half of a €200 million short-term financing market here https://www.businesspost.ie/financial-services/bridging-lender-onate-targets-growth-after-securing-eur60m-funding-952924de

• Fáilte libh go léir 🤗 Hawkins Brown eyes Irish expansion with Dublin office  https://www.bdonline.co.uk/news/hawkins-brown-eyes-irish-expansion-with-dublin-office/5114952.article

• Kingspan announces five-year partnership with humanitarian aid agency GOAL https://www.northernsound.ie/news/kingspan-announces-five-year-partnership-with-humanitarian-aid-agency-goal-185642

• Grafton expects sale of traditional merchanting business in UK to close by February: Company agreed in July to sell the business, which includes Buildbase to Huws Gray for £520m https://www.irishtimes.com/business/construction/grafton-expects-sale-of-traditional-merchanting-business-in-uk-to-close-by-february-1.4742291

• Liquidator wants asset return and personal liability orders in Tuskar group case https://www.breakingnews.ie/business/liquidator-wants-asset-return-and-personal-liability-orders-in-tuskar-group-case-1221554.html

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 * 

• Digital transformation brought forward by three to five years: “Companies need to review what technology they have and what they need and to look at what the right technology is to optimise the process” https://www.irishtimes.com/sponsored/enterprise-ireland/digital-transformation-brought-forward-by-three-to-five-years-1.4739106?mode=amp

• Irish software firm Skillko to top €850k in revenue: Westport-based tech start-up is adjusting targets up to take account of yearly growth of 150 per cent  https://www.businesspost.ie/companies/irish-software-firm-skillko-to-top-eur850k-in-revenue-9f9aef24

• CEMEX Ventures has published its top 50 construction startups list for 2021, featuring the top 50 solutions from the construction technology ecosystem  https://www.pbctoday.co.uk/news/planning-construction-news/construction-startups/102420/

• PropTech Shows Its Strength With Rise Of Another Unicorn In Digital Marketplace Lessen https://www.forbes.com/sites/amydobson/2021/11/30/proptech-shows-its-strength-with-rise-of-another-unicorn-in-digital-marketplace-lessen/amp/

• After Proptech’s Monster 2021, Stage Set For Huge Adoption, Investment In 2022  https://www.bisnow.com/national/news/employer/after-proptechs-monster-2021-stage-set-for-huge-adoption-investment-in-2022-111075

• Proptech Coadjute secures £6m to put house buying on the blockchain https://www.uktech.news/proptech/coadjute-funding-blockchain-20211201

• PropTech: “Being able to read the room and put the right actions in place to generate the right results all year round is crucial for agents, so it pays to have some foresight into what might happen in the future so you can plan accordingly…” https://www.estateagenttoday.co.uk/features/2021/12/how-my-predictions-on-agency-and-proptech-from-recent-years-have-come-true

• 7 Disruptive PropTech & Real Estate Technology Trends of 2022  https://itmunch.com/disruptive-proptech-real-estate-technology-trends-of-2022/

• “The sustainable investment market is already more than one third of total global assets and growing rapidly… Empowering investors to make informed decisions about social and environmental impact is a real differentiator.”  https://www.reuters.com/markets/funds/exclusive-softbank-led-funding-round-sustainability-start-up-clarity-ai-2021-12-02/

• How New Tenant Desires Are Establishing a Blueprint for the Workplace of the Future  https://commercialobserver.com/2021/11/how-new-tenant-desires-are-establishing-a-blueprint-for-the-workplace-of-the-future/

• Reusable construction technology reduces CO2 and waste https://cordis.europa.eu/article/id/435382-reusable-construction-technology-reduces-co2-and-waste

• Building-Integrated Photovoltaics Can Lead to Net-Positive Construction  https://www.archdaily.com/971957/building-integrated-photovoltaics-can-lead-to-net-positive-construction

• Brick & Mortar Ventures’ Darren Bechtel On His Journey to Contech VC: Company has poured funds into Fieldwire, PlanGrid, Levelset, BuildZoom and others https://commercialobserver.com/2021/11/brick-mortar-ventures-darren-bechtel-contech-vc/#.YaZID1hHxas.twitter

• PlaceTech | Cornish Lithium secures ‘transformational’ funding for EV supply chain https://placetech.net/news/cornish-lithium-secures-transformational-funding-for-ev-supply-chain/

• Zillow accelerates IBuying shut-down, buys back stock – AIM Group https://aimgroup.com/2021/12/03/zillow-accelerates-ibuying-shut-down-buys-back-stock/

• Atlanta-based AI firm wins global construction tech contest  https://www.constructiondive.com/news/atlanta-based-ai-firm-wins-global-construction-tech-contest/610482/

• Demex Group, a climate risk proptech startup, gets Series A venture capital https://investableuniverse.com/2021/12/02/demex-group-climate-weather-risk-proptech-real-estate-venture-capital/

• MeetElise, the Leading Proptech AI Leasing Software, Raises $23.5m in Series B Funding – Digital Journal https://www.getnews.info/1186432/meetelise-the-leading-proptech-ai-leasing-software-raises-235m-in-series-b-funding.html 

•  How to remain competitive when tech and data becomes ubiquitous | Property Reporter https://www.propertyreporter.co.uk/business/ow-to-remain-competitive-when-tech-and-data-becomes-ubiquitous.html

RESIDENTIAL PROPERTY NEWS (including PRS)

• The dream 14: Our favourite houses of 2021: Many of the properties we liked offer glorious sea views or are on very special sites https://www.irishtimes.com/life-and-style/homes-and-property/the-dream-14-our-favourite-houses-of-2021-1.4739902

• Irish house prices undervalued? Shows how misleading stats can be: European Commission report saying houses undervalued relies on outmoded statistics https://www.irishtimes.com/business/economy/irish-house-prices-undervalued-shows-how-misleading-stats-can-be-1.4740982

• Donohoe was told to say that trend of landlords sitting on empty units would ‘correct itself’: Opposition TD claims government is bowing to vested interests in defending the practice instead of countering it through punitive taxes https://www.businesspost.ie/houses/donohoe-was-told-to-say-that-trend-of-landlords-sitting-on-empty-units-would-correct-itself-2e55900c

• 10% surge in yearly British house prices a further warning to outlook in Ireland: Tough competition between UK lenders had brought the effective rate on new mortgage lending down to around 1.6% in October  https://www.irishexaminer.com/business/economy/arid-40756866.html

• State is creating artificial scarcity of homes: Inadequate Government funding and a failure to provide land has limited approved housing bodies and let investor funds outbid them in acquiring homes https://www.irishexaminer.com/opinion/commentanalysis/arid-40754190.html

• State needs a ‘Goldilocks approach’ to housing crisis – Rather than building one-bed units as a short-term solution to the housing crisis, experts argue that building ‘cradle to grave’ homes is far more sustainable https://www.irishexaminer.com/opinion/columnists/arid-40755495.html

• No country for single people: Small apartments and the dysfunctionality of the Irish property market – Most Irish households are small. Very few Irish homes are small. This mismatch is our most pressing housing need. https://thecurrency.news/articles/67635/no-country-for-single-people-small-apartments-and-the-dysfunctionality-of-the-irish-property-market/

• Dublin is sixth most expensive capital city for renters: Study finds renting one-bed flat costs an average of €1,643 a month in Dublin https://www.irishtimes.com/business/economy/dublin-is-sixth-most-expensive-capital-city-for-renters-1.4745768

• Latest data shows a drop in mortgage approvals: The 4,568 mortgages approved in October was down 4.2pc month-on-month and by 12.3pc compared with the same month last year https://m.independent.ie/business/personal-finance/property-mortgages/latest-data-shows-a-drop-in-mortgage-approvals-41101891.html

• Pressure is building on big banks as Avant cuts loan rates  https://m.independent.ie/business/personal-finance/property-mortgages/pressure-is-building-on-big-banks-as-avant-cuts-loan-rates-41109502.html

• Also; Non-bank lenders cut mortgage rates in face of KBC and Ulster exits – Both Avant Money and Finance Ireland reducing rates https://www.irishtimes.com/business/financial-services/non-bank-lenders-cut-mortgage-rates-in-face-of-kbc-and-ulster-exits-1.4744949

• Flashpoints emerge over Government plan to tackle mica crisis: Resistance among campaigners to multiple parts of scheme  https://www.irishtimes.com/news/ireland/irish-news/flashpoints-emerge-over-government-plan-to-tackle-mica-crisis-1.4741250

• German investor pays €40m for Clonskeagh homes: Real IS fund acquires 63 apartments and 9 penthouses at exclusive Knockrabo scheme https://www.irishtimes.com/business/commercial-property/german-investor-pays-40m-for-clonskeagh-homes-1.4741775

• ‘Crazy-rich Asian’ swoops on penthouse in Ballsbridge: Ming-Wai Lau, son of one of Hong Kong’s richest men, has started a company to invest in upmarket Irish developments https://www.thetimes.co.uk/article/crazy-rich-asian-swoops-on-penthouse-in-ballsbridge-9wcsr7sx0

• 19 new housing posts for Galway’s local authorities  https://galwaybayfm.ie/galway-bay-fm-news-desk/19-new-housing-posts-for-galways-local-authorities/

• More couples turning to IVF as they wait to get on property ladder  https://amp.extra.ie/2021/11/29/news/irish-news/couples-ivf-housing-crisis

• Turnover down 38% at Airbnb’s Irish unit as Covid hits revenue: Company, which has its European headquarters in Dublin, said business ‘declined significantly’ in early 2020 due to the pandemic https://www.businesspost.ie/companies/turnover-down-38-at-airbnbs-irish-unit-as-covid-hits-revenue-00a9c1e0

• Why Karl Marx can teach us some lessons on how to solve a housing crisis https://m.independent.ie/business/commercial-property/mark-keenan-why-karl-marx-can-teach-us-some-lessons-on-how-to-solve-a-housing-crisis-41112985.html

• What will €390,000 buy in France, Ukraine, Norway, Ireland and the Netherlands? Take5: Kiev and Chatel apartments, period homes in Klokkarvik and Ardfert, or house boat in the Netherlands  https://www.irishtimes.com/life-and-style/homes-and-property/take-5/what-will-390-000-buy-in-france-ukraine-norway-ireland-and-the-netherlands-1.4741819

• Six turnkey homes for sale across Ireland for less than €200,000: We have done some digging to find three to four bedroomed homes that could be perfect for your family https://www.irishmirror.ie/news/irish-news/six-turnkey-homes-sale-across-25600297.amp

• Offaly house buyers spent €109m so far in 2021  https://www.offalyexpress.ie/news/tullamore-tribune/701758/offaly-house-buyers-spent-109m-so-far-in-2021.html

• Joint ownership of property can have unintended consequences: Parents worry that having son’s name on deeds could disenfranchise their daughter https://www.irishtimes.com/business/personal-finance/joint-ownership-of-property-can-have-unintended-consequences-1.4741129

• Is this the €15,000 per month Dublin 4 townhouse most expensive house to rent in Ireland?  https://amp.extra.ie/2021/11/29/property/most-expensive-house-rent-ireland

• O’Donnellan & Joyce auctioneers launches ten must-see properties to the market  https://www.advertiser.ie/galway/article/126125/odonnellan-joyce-auctioneers-launches-ten-must-see-properties-to-the-market

• Auction houses line up end-of-year online bonanza: BidX leads the charge with 110 properties under the hammer worth a combined €27 million, while other agents are selling via IAm Sold https://www.businesspost.ie/commercial/auction-houses-line-up-end-of-year-online-bonanza-6ec67e0b 

• What to consider when choosing a heat pump for your home: Heating manufacturer Grant answers your heat pump questions, to help you gain a better understanding of the technology and benefits https://www.irishtimes.com/advertising-feature/grant/what-to-consider-when-choosing-a-heat-pump-for-your-home-1.4742748?mode=amp

• The trees and hedging next door block our light and are damaging our fence: Property Clinic: The best option is for a neighbourly agreement about having the trees trimmed back https://www.irishtimes.com/life-and-style/homes-and-property/the-trees-and-hedging-next-door-block-our-light-and-are-damaging-our-fence-1.4739026

• I am confused about the capital gains tax liability on my second home: You and your solicitor must ascertain when contract was signed and if it was conditional  https://www.irishtimes.com/life-and-style/homes-and-property/i-am-confused-about-the-capital-gains-tax-liability-on-my-second-home-1.4739014

• Expert urges planners to approve ‘simple’ Conor McGregor house extension  https://www.breakingnews.ie/amp/ireland/expert-urges-planners-to-approve-simple-conor-mcgregor-house-extension-1222353.html (picture) 

• These Are the Interior Design Trends That Will Be Huge in 2022: Here’s what you can expect throughout every room of the house. https://www.housebeautiful.com/design-inspiration/g38281142/design-trends-2022/

• ‘Let’s buy’ — Selling Sunset star Mary Fitzgerald stunned at ‘low’ Irish mansion prices https://amp.extra.ie/2021/12/03/entertainment/celebrity/selling-sunset-star-mary-fitzgerald-stunned-at-irish-mansion-prices

COMMERCIAL PROPERTY NEWS

• AIB plans sale of €750m of commercial property loans: Portfolio likely to be marketed in first half of 2022 https://www.irishtimes.com/business/financial-services/aib-plans-sale-of-750m-of-commercial-property-loans-1.4745220

• Older buildings set to be biggest casualties of office sustainability goals https://m.independent.ie/business/commercial-property/older-buildings-set-to-be-biggest-casualties-of-office-sustainability-goals-41109030.html

• Prem Group secures ‘major’ investment as it prepares for European growth: US-based Fortress Investment Group taking majority stake in hospitality operator https://www.irishtimes.com/business/transport-and-tourism/prem-group-secures-major-investment-as-it-prepares-for-european-growth-1.4745004

• TikTok signs long-term lease on new Dublin docklands office: Chinese social media giant now seeking additional space to grow workforce in Ireland https://www.irishtimes.com/business/commercial-property/tiktok-signs-long-term-lease-on-new-dublin-docklands-office-1.4742895

• Back from the dead: Shuttered retail giants in bid for high street revival: Can there be a second act in bricks and mortar or are failed brands postponing the inevitable? https://www.irishtimes.com/business/commercial-property/back-from-the-dead-shuttered-retail-giants-in-bid-for-high-street-revival-1.4741762

• Frustration on Grafton Street: Foot Locker loses Covid rent row to Davy landlord: Today’s decision goes against Foot Locker receiving a Covid-19 amnesty on rent arrears at its flagship Grafton Street store. It sets a strong marker about the direction the courts are going in when it comes to pandemic-related commercial rent disputes. https://thecurrency.news/articles/67908/frustration-on-grafton-street-foot-locker-loses-covid-rent-row-to-davy-landlord/

• Dublin now third most expensive location globally for warehousing: Finding comes amid acceleration in construction costs and data centre debate https://www.irishtimes.com/business/economy/dublin-now-third-most-expensive-location-globally-for-warehousing-1.4744307

• Pub group Wetherspoon expands with €4m investment: Wetherspoon is making an overall investment of €50m in Dublin city centre https://www.irishexaminer.com/business/companies/arid-40755282.html

• Dunnes Stores ramps up rollout of smaller suburban shops: Grocery giant sets up at Magic Carpet as plan for Monkstown elevates ire of some locals https://www.irishtimes.com/business/commercial-property/dunnes-stores-ramps-up-rollout-of-smaller-suburban-shops-1.4741946

• Dublin City Council grants extension of storage lease for Victorian market: MB McNamara, a construction firm that is developing a Hilton hotel in Dublin 7, has been leasing the property for storage since June 2020 https://www.businesspost.ie/local-goverment/dublin-city-council-grants-extension-of-storage-lease-for-victorian-market-beecfd89

• Conor McGregor secures green light for Black Forge Inn pub upgrade  https://www.breakingnews.ie/amp/ireland/conor-mcgregor-secures-green-light-for-black-forge-inn-pub-upgrade-1220800.html

• Price slashed for Dublin property with range of prospects  https://m.independent.ie/business/commercial-property/price-slashed-for-dublin-property-with-range-of-prospects-41109043.html

• The View: serving the needs of Malahide’s local business community: The View in the north Co Dublin village is a co-working space with an emphasis on quality of life that provides a work space for members to work in, while also remaining close to home https://www.businesspost.ie/commercial/the-view-serving-the-needs-of-malahides-local-business-community-014ec62c

• Primeline signs for more than 110,000sq ft at Hub Logistics Park: Supply chain specialist to pay €10.35 per sq ft in long-term lease at Clonee scheme https://www.irishtimes.com/business/commercial-property/primeline-signs-for-more-than-110-000sq-ft-at-hub-logistics-park-1.4741782

• Lidl to pass 200-store mark in Ireland with plans for ‘very aggressive expansion’  https://m.independent.ie/business/irish/lidl-to-pass-200-store-mark-in-ireland-with-plans-for-very-aggressive-expansion-41116723.html

• A first look inside Cork’s brand new Rooftop Farm store: A brilliant addition to the city. https://www.yaycork.ie/a-first-look-inside-corks-brand-new-rooftop-farm-store/ (pictured)

• Tesco to take over 10 Joyce’s Supermarkets across Galway  https://galwaybayfm.ie/galway-bay-fm-news-desk/tesco-to-take-over-10-joyces-supermarkets-across-galway/

• Well-known Galway nightclubs may come to market soon: Owners of Electric Garden and Halo are considering putting the venues on the market due to financial pressures caused by the pandemic https://www.businesspost.ie/commercial/well-known-galway-nightclubs-may-come-to-market-soon-15cffa42

• Popular Limerick pub on sale in Youbid auction: The Track Bar and four-bed apartment in Garryowen has an AMV of €200,000. Other properties under the virtual hammer include a three-bed in Cork and a terrace in Bundoran https://www.businesspost.ie/commercial/popular-limerick-pub-on-sale-in-youbid-auction-8d9fd3be

• Limerick Property Watch: Prime warehouse comes on the market https://www.limerickleader.ie/news/home/700586/limerick-property-watch-prime-warehouse-comes-on-the-market.html

• Short-term plan for old Dunnes Stores building revealed  https://www.live95fm.ie/news/live95-news/short-term-plan-for-old-dunnes-stores-building-revealed/

• Limerick Property Watch: Stop in for a great retail opportunity  https://www.limerickleader.ie/news/home/701864/limerick-property-watch-stop-in-for-a-great-retail-opportunity.html

• Developer Pat Crean’s Marlet in €56m deal for Tralee retail park: Manor West Shopping Park comes fully occupied with rent roll in excess of €5m https://www.irishtimes.com/business/commercial-property/developer-pat-crean-s-marlet-in-56m-deal-for-tralee-retail-park-1.4742994

• Designing workplaces: An Irish man in New York: Furniture designer Ciaran McGuigan has upped the ante on co-working the Malin https://www.irishtimes.com/life-and-style/homes-and-property/designing-workplaces-an-irish-man-in-new-york-1.4742818

INTERNATIONAL PROPERTY NEWS

• Dezeen’s top 10 houses of 2021 https://www.dezeen.com/2021/12/01/top-10-houses-review-2021/ 

• ‘Race for space’ fuelling busiest UK housing market since 2007: Stamp duty holiday also spurred sales with one in 14 homes set to change hands in 2021, says online property portal Zoopla https://amp.theguardian.com/business/2021/nov/29/race-for-space-fuelling-busiest-uk-housing-market-since-2007

• From a Debenhams to a creative hub: closed stores get new lease in community life – Empty department stores are being transformed into places for young entrepreneurs and social projects https://www.theguardian.com/business/2021/dec/01/doors-open-for-uk-community-projects-as-retail-chains-fold (pictured) 

• Developers challenged over carbon footprint of new buildings in UK: Critics say retrofitting rather than demolishing and constructing buildings has less climate impact https://www.theguardian.com/politics/2021/nov/28/developers-challenged-over-carbon-footprint-of-new-buildings-in-uk

• 750 years of delay: UK Study highlights ‘astounding’ cost of construction disputes https://www.globalconstructionreview.com/750-years-of-delay-study-highlights-astounding-cost-of-construction-disputes/

• Controversy over Notre-Dame restoration reignites as interiors plans emerge https://www.dezeen.com/2021/12/02/notre-dame-interiors-disney/

• China stores 70% of its wealth in real estate. Now, the property crisis is forcing investors to reconsider their favorite means of savings https://fortune.com/2021/12/02/chinese-real-estate-investing-home-ownership-evergrande/

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/