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:
- Property inflation will limit state’s shared equity scheme – Business Post review of new-build homes currently on the market has shown that there is a dearth of properties that will be accessible through the First Home affordable purchase shared equity scheme because market prices already exceed the affordable housing caps https://www.businesspost.ie/houses/property-inflation-will-limit-states-shared-equity-scheme-43a98de7
- Is there ‘an industry’ in planning objections? Level of successful appeals suggests not: Planning decisions take ages but a move to tighten rules is sparking widespread fury https://www.irishtimes.com/news/ireland/irish-news/is-there-an-industry-in-planning-objections-level-of-successful-appeals-suggests-not-1.4799893
- Charities to clash with housing bodies over homelessness payments: Dublin homeless executive says Hap payments are ‘biggest contributor in preventing homelessness’, while charities say the payments aren’t keeping pace with rent increases https://www.businesspost.ie/houses/charities-to-clash-with-housing-bodies-over-homelessness-payments-ac50a255
- Terms of Reference for Society of Chartered Surveyors Ireland (SCSI) Report on Construction Costs for the Defective Concrete Block Scheme https://www.gov.ie/en/publication/4b734-terms-of-reference-for-society-of-chartered-surveyors-ireland-scsi-report-on-construction-costs-for-the-defective-concrete-block-scheme/
- Retire in Ireland: Former minister will try and reboot scheme for Irish-Americans. Programme would give Americans between ages of 55 and 75 right to live and work in State https://www.irishtimes.com/news/politics/retire-in-ireland-former-minister-will-try-and-reboot-scheme-for-irish-americans-1.4795821
- ‘It is a farmer’s property right to own the carbon credits generated by your forestry’:Campaigner John Hourigan accuses the government of being ‘disingenuous & devious’ as he fights for the right to offset his farm’s carbon footprint and sell any credits https://m.independent.ie/business/farming/forestry-enviro/environment/it-is-a-farmers-property-right-to-own-the-carbon-credits-generated-by-your-forestry-41322928.html
- Cork harbour, a national asset with vast growth potential: Cork harbour economy has the potential to reach a GDP of €12bn by 2040 and its growth ambitions will be conscious of urban and rural communities https://www.irishexaminer.com/business/economy/arid-40804920.html
- First national surfing centre and major famine museum planned: New Fáilte Ireland projects expected to attract 400,000 visitors over next five years https://www.irishtimes.com/business/transport-and-tourism/first-national-surfing-centre-and-major-famine-museum-planned-1.4799146
- Barry Cowen: Sell the ESB and invest in our future energy – Ireland can be a renewable energy exporter and the backbone of a new green Europe https://www.businesspost.ie/energy/barry-cowen-sell-the-esb-and-invest-in-our-future-energy-f916af8c
- Irish energy firm ReVolve to list in Canada https://m.independent.ie/business/irish-energy-firm-revolve-to-list-in-canada-41339190.html
- Nests for guests in €4m ‘tree-star’ investment in Cork city’s lofty Montenotte: Hotel branches out with urban resort woodland suites suspended and cantilevered under woodland tree canopy https://www.irishexaminer.com/property/commercial/arid-40804545.html. (Pictured)
- Family firms’ natural agility lands them ahead of the posse – With the benefit of multiple generations and close to the communities they serve, such firms are adept at transforming to meet future challenges https://www.businesspost.ie/commercial-reports/family-firms-natural-agility-lands-them-ahead-of-the-posse-e4a493d6
- From The Metaverse To Gen Z, What 2022 Will Mean For The Real Estate Sector https://news.crunchbase.com/news/metaverse-gen-z-real-estate-forecast-2022/
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 5, Episode 5: Property Matters, February 8th, 2022
“We live in communities; our research indicates that employees want to work in them too,” Damien Kilgannon, Real Estate Director at Fine Grain Property
Part 1: Bryan Fox interviews Marion Cashman, Architect and Vice-Chairperson of the Dublin Democratic Planning Alliance, which is an alliance supported by more than 65 neighbourhood associations, communities and individuals across the Dublin area, with the shared aim of promoting housing and development that meets the needs of society i.e. development that is sustainable and driven by social needs and demands with the participation of the citizen.
Part 2: Damien Kilgannon, Real Estate Director at Fine Grain Property talks to Carol Tallon about the ESG ambitions of the company, including tenant and community engagement mission – friends, facilities, futures. He also talks about the results of their most recent survey on the future of the workplace, which found that 78% of office workers in Ireland want to work in dedicated office spaces at least some of the time. More than half (51%) of the workforce would split the working week between home and the office, if given the choice, and 27% would prefer to be entirely office-based.
Other findings: Half (49%) of the companies polled by Fine Grain Property expect the size of their workforce to grow in the next five years, 42% expect it to stay the same and just 8% say numbers employed will fall. The research also suggests that workers have missed so-called ‘water cooler moments’ – serendipitous occasions in which staff interact socially at work – while working from home. Ninety per cent of employees say the social aspect of the office is the best thing about returning to the workplace. Getting out of the house (78%), having a dedicated workspace (66%) and collaboration time (62%) also scored highly.
Younger workers are more likely to welcome a return to the office. Half (48%) of staff aged under 35 are pleased about returning to the office, versus 38% of workers in general; 32% of under 35s are disappointed, versus 42% of those aged 35 to 44.
Watch back: https://youtu.be/TFZVXmkp4DI
👉 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
- Caught in the rental trap, we tried to turn our flat into a co-op. Here’s what we learned https://www.theguardian.com/commentisfree/2022/feb/07/rental-trap-flat-co-op-homeownership-housing-crisis
- David McWilliams: Believe it or not, more posh housing helps everyone: Dereliction is vandalism. If we tax derelict sites, new homes will be built immediately https://www.irishtimes.com/opinion/david-mcwilliams-believe-it-or-not-more-posh-housing-helps-everyone-1.4798979
- Housing crisis among reasons why ring-fencing school places is wrong, says Children’s Ombudsman: It is currently allowed that 25% of school places can be reserved for children and grandchildren of past pupils. https://www.thejournal.ie/children-education-5676157-Feb2022/?amp=1
- Moore Street Preservation Trust has submitted ‘comprehensive appeals’ to An Bord Pleanála against Dublin City Council’s grant of planning permission to British-based property company Hammerson’s developments on the Moore Street 1916 battlefield site: https://dublinpeople.com/news/northsidewest/articles/2022/02/08/moore-street-trust-submits-appeals-to-an-bord-pleanala-against-hammerson-development/
- Lack of consultation on new cycling infrastructure in Dublin city, councillors say: Dublin City Council meeting hears new Clontarf cycleway will cause major disruption https://www.irishtimes.com/news/ireland/irish-news/lack-of-consultation-on-new-cycling-infrastructure-in-dublin-city-councillors-say-1.4796342
- Pat Kenny calls on council to refuse permission for Bulloch Harbour plan: Broadcaster says Dalkey development would change ambience ‘utterly’ https://www.irishtimes.com/business/construction/pat-kenny-calls-on-council-to-refuse-permission-for-bulloch-harbour-plan-1.4798995
- Dun Laoghaire homeowner has been told by her local council to remove a mural by an award-winning street artist from her house because it is “out of character” in its setting and could “depreciate the value of property” in the area. https://www.thetimes.co.uk/article/council-delivers-knockout-blow-to-ballerina-mural-n6lldt9sr (featured image)
- Local groups bring legal challenges to developments in Meath and Dublin: Both cases involve permission for apartment schemes https://www.irishtimes.com/business/construction/local-groups-bring-legal-challenges-to-developments-in-meath-and-dublin-1.4797955
- The long and winding road to solving Cork’s dereliction blight : Walk around Cork city and it’s easy to see the derelict sites and buildings. But why are these very public eyesores so difficult to clean up? Who is responsible? Is enough being done? https://www.irishexaminer.com/news/spotlight/arid-40806030.html
- Developers asked to retain parts of Cork’s iconic R&H Hall silos: The buildings have been a dominant and iconic feature of the Cork skyline for decades https://www.irishexaminer.com/property/developmentconstruction/arid-40803057.html
- Two challenges initiated over permission for Galway City Ring Road: Galway Race Committee to proceed with judicial review of An Bord Pleanála’s permission for €600m route https://www.irishtimes.com/news/crime-and-law/courts/high-court/two-challenges-initiated-over-permission-for-galway-city-ring-road-1.4796996 Also: Almost two-thirds of submissions to council not in favour of Galway cycle lane: Locals claim the proposed lane will reduce parking and will decrease access for older people and those with mobility issues https://www.irishtimes.com/news/ireland/irish-news/almost-two-thirds-of-submissions-to-council-not-in-favour-of-galway-cycle-lane-1.4799881
- Corrib gets three new footbridges – and Parkmore set for significant overhaul in major plan https://connachttribune.ie/corrib-gets-three-new-footbridges-and-parkmore-set-for-significant-overhaul-in-major-plan/
- Controversial Galway windfarm consent plan rejected as €15,000-a-day fines continue: €17 million in fines has been amassed so far https://www.galwaybeo.ie/news/galway-news/controversial-galway-windfarm-consent-plan-6622769
- Councillor welcomes plans to bring Avoca River back to life https://m.independent.ie/regionals/wicklow/news/councillor-welcomes-plans-to-bring-avoca-river-back-to-life-41327084.html
- The Offaly town that never was – a Tullamore Capriccio https://www.offalyexpress.ie/news/tullamore-tribune/741223/the-offaly-town-that-never-was-a-tullamore-capriccio.html (Pictured)
- South Kerry greenway to go ahead after Supreme Court decision: Project was mooted a decade ago but stalled for various reasons https://www.irishtimes.com/news/ireland/irish-news/south-kerry-greenway-to-go-ahead-after-supreme-court-decision-1.4796936
- The efforts to save Ireland’s traditional farm buildings: Rural houses, farm buildings and farmyard features connect us to the past https://www.irishexaminer.com/farming/arid-40799925.html
- Hill walker demands ‘an infringement on property rights’ – INHFA: INHFA lobbies for public access to be denied on farm land, while Keep Ireland Open says our heritage should be shared. https://www.farmersjournal.ie/hill-walker-demands-an-infringement-on-property-rights-inhfa-678168
- Place in the sun: Not Covid or snowstorms could deter this couple from building their dream hotel in Spain. After 16 years in Spain, the Gallaghers set out to convert an old dairy into a boutique hotel. A few misadventures later, it is now open for guests https://www.thetimes.co.uk/article/our-place-in-the-sun-neither-covid-or-snowstorms-could-deter-this-couple-from-building-their-dream-hotel-in-spain-k29jm66g7
*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
- Dublin council loosens planning rules to liven up city centre – Key retail streets, which have seen values drop thanks to online shopping, will be allowed to house more cultural, leisure and entertainment offerings https://www.businesspost.ie/commercial/dublin-council-loosens-planning-rules-to-liven-up-city-centre-d8bbc7e7
- Peter Garrigan: Development land needs development solutions – Recent changes to national demographics mean we need to promote sustainable development and encourage more land to be brought to the market for sale https://www.businesspost.ie/commercial/peter-garrigan-development-land-needs-development-solutions-79acf787
- Mick Clifford: The perpetual appeal of Peter Sweetman – In a rare interview, the serial litigant speaks out about calls to discourage judicial reviews of planning decisions — a move that he says would dilute our human rights https://www.irishexaminer.com/news/spotlight/arid-40806339.html
- How we can begin to build better diversity in construction in 2022? https://www.pbctoday.co.uk/news/hr-skills-news/diversity-in-construction/104958/
- Lack of builders puts National Development Plan in danger, experts warn: Irish Fiscal Advisory Council says the State faces a shortage of around 28,000 construction workers https://m.independent.ie/business/irish/lack-of-builders-puts-national-development-plan-in-danger-experts-warn-41327416.html Also: Tánaiste admits ‘difficulty’ in getting young people to apply for construction courses: Cabinet today launched a major retrofitting scheme that will cover up to 80pc of homeowners’ costs https://m.independent.ie/irish-news/tanaiste-admits-difficulty-in-getting-young-people-to-apply-for-construction-courses-41327351.html
- The great green homes gamble: can we retrofit 500,000 houses in just ten years? The €8 billion home retrofitting plan unveiled by Eamon Ryan last week seems almost too big to fail, but will it overcome the ‘hassle factor’ in the public’s minds? https://www.businesspost.ie/energy/the-great-green-homes-gamble-can-we-retrofit-500000-houses-in-just-ten-years-e13b0e0c
- Director of retrofit scheme hopes number of ‘one-stop shops’ (construction companies often working with energy providers) doubles by end of the year https://www.breakingnews.ie/ireland/director-of-retrofit-scheme-hopes-number-of-one-stop-shops-doubles-by-end-of-the-year-1255688.html
- Legal Considerations For Parties Undertaking Retrofitting Projects https://www.mondaq.com/ireland/real-estate/1160410/legal-considerations-for-parties-undertaking-retrofitting-projects
- Building cost: ‘Within department control’ to increase timber supply https://www.agriland.ie/farming-news/building-cost-within-department-control-to-increase-timber-supply/
- Supermac’s threatened Irish Water twice over connection fees https://m.independent.ie/irish-news/supermacs-threatened-irish-water-twice-over-connection-fees-41341766.html
- Bord Pleanála to decide on 13,363 fast-track housing units by mid-May: Appeals board dealing with 47 separate SHD applications https://www.irishtimes.com/business/construction/bord-plean%C3%A1la-to-decide-on-13-363-fast-track-housing-units-by-mid-may-1.4799975
- Closed pubs may be developed for housing without planning permission: Planning exemptions for above-shop spaces to also include pubs closed for at least two years https://www.irishtimes.com/news/environment/closed-pubs-may-be-developed-for-housing-without-planning-permission-1.4799178
- Almost 1,000 claims have been lodged by BAM over construction of Children’s Hospital https://www.irishexaminer.com/news/arid-40806354.html
- High Court grants stay on clearance works for student accommodation near UCD: Two residents had brought judicial review case over Bord Pleanála’s permission for the 698-bed eight-block development: https://www.irishtimes.com/business/construction/high-court-grants-stay-on-clearance-works-for-student-accommodation-near-ucd-1.4797127
- Dublin City Council terminates design team’s contract at landmark City Library project: The city council has so far spent €2.6 million on the delayed project at Parnell Square https://www.businesspost.ie/local-goverment/dublin-city-council-terminates-design-teams-contract-at-landmark-city-library-project-438fb50c (Pictured) Also: City Library planned for Parnell Square delayed until 2027 – Original design team dropped over proposed cost of ambitious project which was to form part of a new cultural quarter in the north city centre https://www.businesspost.ie/local-goverment/city-library-planned-for-parnell-square-delayed-until-2027-9c78ada5
- McDonald appeals permission for €500m Dublin city centre redevelopment: Hammerson plan covers 5.5 acres between O’Connell Street and Moore Street https://www.irishtimes.com/business/innovation/mcdonald-appeals-permission-for-500m-dublin-city-centre-redevelopment-1.4799074
- Johnny Ronan-led consortium developing a new Dublin city quarter in Poolbeg told the minister for housing last year it wanted to increase the number of residential units permitted on the site by more than 30 per cent. https://www.thetimes.co.uk/article/developers-want-to-pack-in-more-homes-on-landfill-site-bn2jcnq9g (shopping containers pictured above)
- Construction to begin later this year on Cork Events Centre after Cabinet approves extra funding. The sod was first turned on the site at an event then Taoiseach Enda Kenny attended in 2016. https://www.thejournal.ie/construction-begins-on-cork-events-centre-5676944-Feb2022/?amp=1
- Planning granted for 60 houses within Ballincollig housing estate : An Bord Pleanála has overturned a decision by Cork City Council to permit the building of 60 new homes within the Classes Lake estate https://www.irishexaminer.com/news/munster/arid-40803156.html
- Developer appeals refusal of Aldi supermarket on Cork’s Skehard Road: Lyonshall said the development is appropriate for the site in question https://www.irishexaminer.com/property/developmentconstruction/arid-40802490.html
- Objections block plans to demolish Cork City pub for apartments: Five councillors and several local residents are seeking to overturn planning permission for the new housing scheme on the site of the former Manhattan Bar. https://www.irishexaminer.com/news/munster/arid-40803426.html
- Plans in the pipeline for almost 300 homes in Cork town: Reside Capital Ltd is seeking permission for the development in the townland of Annabella at the western edge of Mallow. https://www.echolive.ie/corknews/arid-40806492.html
- Planning approval refused for new Athenry supermarket https://www.galwaydaily.com/news/planning-approval-refused-for-new-athenry-supermarket/
- Lidl ‘disappointed’ as new Athlone store is turned down by planning board | Westmeath Independent https://www.westmeathindependent.ie/2022/02/10/lidl-disappointed-as-new-athlone-store-is-turned-down-by-planning-board/
- WATCH: Work kicks off on major new housing development in Limerick https://www.limerickleader.ie/news/home/741639/watch-work-kicks-off-on-major-new-housing-development-in-limerick.html
- Waterford and Kilkenny must ‘collaborate not compete’ in retail planning https://www.wlrfm.com/news/waterford-kilkenny-retail-planning-234598
- Kilkenny site with planning permission for 43 homes comes to market: The ideally located site at Sion Road has a guide price of €4.1 million https://www.businesspost.ie/commercial/kilkenny-site-with-planning-permission-for-43-homes-comes-to-market-a0763a29
- Stunning seaside site with potential for more than 450 homes in Wicklow town: The Murrough waterside site is expected to sell for more than €7m https://www.irishtimes.com/business/commercial-property/stunning-seaside-site-with-potential-for-more-than-450-homes-in-wicklow-town-1.4793003
- Newbridge’s Winning Post pub site sold for apartments: Apartments to be built on vacant site of former Eyre Street pub in centre of Newbridge https://www.kildarenow.com/news/local-news/743139/kildare-property-watch-newbridge-s-winning-post-pub-site-sold-for-apartments.html
- Land zoned for community use on sale in Summerhill, Co Meath: The ten acres would be suitable for a range of uses and are on sale for €850,000 https://www.businesspost.ie/commercial/land-zoned-for-community-use-on-sale-in-summerhill-co-meath-5b9b7f9a
- Minister orders Meath councillors to reverse rezoning of flood plains: Plans to authorise development in flood risk areas, including for housing elderly people, are to be shelved https://www.businesspost.ie/Planning/minister-orders-meath-councillors-to-reverse-rezoning-of-flood-plains-234f6735
- Major Longford tourism project includes construction of new marina and houses https://www.longfordleader.ie/news/home/740826/major-longford-tourism-project-includes-construction-of-new-marina-and-houses.html
- Courts halts Offaly development plan in dispute over dezoning: Site earmarked for 349 homes https://www.irishtimes.com/business/courts-halts-offaly-development-plan-in-dispute-over-dezoning-1.4799946
- Planning granted for Bunratty housing development: The 48 homes had received some opposition https://www.irishexaminer.com/property/developmentconstruction/arid-40803075.html
- Construction of 15 apartments given go-ahead in Tralee https://www.radiokerry.ie/news/construction-of-15-apartments-given-go-ahead-in-tralee-268756
- Irish law firm Eugene F Collins to merge with Addleshaw Goddard: Tie-up follows flurry of overseas firms entering Irish market in recent years due to Brexit https://www.irishtimes.com/business/retail-and-services/irish-law-firm-eugene-f-collins-to-merge-with-addleshaw-goddard-1.4798676
- Kenneth Rohan Jnr, who died in Cancun in Mexico almost a year ago, has left nearly €16m in his will, according to documents lodged in the Probate Office in Dublin. https://m.independent.ie/irish-news/developer-ken-rohan-jnr-leaves-nearly-16m-in-his-will-after-dying-in-mexico-41341970.html
- Nama has lodged proceedings in the High Court seeking summary judgment against Michael Fetherston, owner of the K Club resort in Co Kildare https://www.thetimes.co.uk/article/nama-tees-up-court-case-for-k-club-owner-v0wk9vvb2
- Kingspan braced to take hit despite profit rise: The tumbling share price fall has more to do with insinuation than insulation https://www.thetimes.co.uk/article/kingspan-braced-to-take-hit-despite-profit-rise-jjkwbhgsk
- US union writes to Kingspan’s major shareholder over Grenfell Tower fire inquiry: Dispute escalates as sheet metal workers’ organisation follows report on investigation with letter to company’s biggest institutional investor https://www.businesspost.ie/companies/us-union-writes-to-kingspans-major-shareholder-over-grenfell-tower-fire-inquiry-bbb19eec
- Sisk: Founded in Cork, delivering excellence globally: Sisk delivers pioneering, cutting-edge Life Science facilities across Ireland, including leading US FDI projects https://www.irishexaminer.com/business/companies/arid-40804098.html
- Dublin firm moves to a nine-day work fortnight: Co-founder of engineering consultancy Passive Dynamics says the change has already boosted productivity and enticed new talent to the firm https://www.businesspost.ie/smes/dublin-firm-moves-to-a-nine-day-work-fortnight-5359e2d4
PROPTECH, 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/ *
- The team at Proptech Ireland is updating the list of ESG, smart buildings and climate technologies and providers in Ireland, for sharing with the industry – email product or service details to hello@prop-tech.ie
- Has your proptech product or service excelled in what has been an extremely challenging year for the property sector? *Nominations for the National Property Awards 2022 are now open!* The Proptech Award, sponsored by Proptech Ireland, aims to reward industry innovation and impact. Apply now 👉https://www.nationalpropertyawards.ie/proptech-nomination-category-criteria/
- Propel by MIPIM Startup Competition: The ultimate startup competition is back at MIPIM in Cannes! Discover and vote for the most disruptive solutions and business models in the world of real estate https://www.mipim.com/en-gb/conferences-events/startup-competition.html – Application deadline TODAY (Sunday)! Good luck 🍀
- 10 Proptech Startups From Pi Labs’ Latest Cohort – The Largest Growth Programme Yet https://techround.co.uk/news/10-proptech-startups-from-pi-labs-latest-cohort-the-largest-growth-programme-yet/?utm_source=rss&utm_medium=rss&utm_campaign=10-proptech-startups-from-pi-labs-latest-cohort-the-largest-growth-programme-yet&
- EVENT: New UK landlord organisation to host gathering where ‘honest’ opinions about proptech will be aired https://www.landlordzone.co.uk/news/event-new-landlord-group-to-host-online-honest-debate-about-proptech/
- New Tech That’s Transforming the Real Estate Industry https://techbuzzireland.com/2022/02/09/new-tech-thats-transforming-the-real-estate-industry/?amp=1
- Success for young PropTech founder Kieran Witt who was compelled to create his digital property platform Kotini, to make things easier for couples looking to find their first home, after having to visit many unsuitable properties https://www.estateagenttoday.co.uk/breaking-news/2022/2/uccess-for-young-proptech-founder-helping-first-time-buyers?source=newsticker
- UK PropTech firm launches new products claiming to combat rental fraud https://www.lettingagenttoday.co.uk/breaking-news/2022/2/proptech-firm-launches-new-products-claiming-to-combat-rental-fraud
- From sustainability to shorter timelines, Mercury Engineering’s Sean Dowd discusses how the digital construction industry is rising to the challenge. https://www.siliconrepublic.com/enterprise/digital-construction-mercury-engineering-hp
- Construction Tech Solution Providers 2021′ by Leading Technology and Digital Transformation Journal https://finance.yahoo.com/amphtml/news/flowforma-recognized-one-top-10-143000201.html
- Is technology the solution to burnout in the construction industry? https://www.pbctoday.co.uk/news/health-safety-news/burnout-in-the-construction-industry/104863/
- Why smart building tech is key to ESG https://www.propertyweek.com/feedback/why-smart-building-tech-is-key-to-esg/5118683.article
- Proptech firm snapped up by global giant | Property technology and surveying firm BVS has been acquired by specialist professional services and technology business Davies, for an undisclosed sum. https://www.thebusinessdesk.com/northwest/news/2092715-bolton-proptech-firm-snapped-up-by-global-player
- How machine learning could change city design: The creation of more sustainable, liveable cities. https://ia.acs.org.au/article/2022/how-machine-learning-could-change-city-design.html
- Clikalia clicks on $86M to expand its iBuyer marketplace across Europe and Latin America – TechCrunch https://techcrunch-com.cdn.ampproject.org/c/s/techcrunch.com/2022/02/07/clikalia-clicks-on-86m-to-expand-its-ibuyer-marketplace-across-europe-and-latin-america/amp/
- Citing ‘changing real estate market,’ Utah-based Homie lays off one-third of its staff | TechCrunch https://techcrunch.com/2022/02/11/homie-lays-off-1-3-of-its-staff/
- Spanish proptech pair set up virtual real estate office in the metaverse Decentraland – FinLedger https://finledger.com/2022/02/08/spanish-proptech-pair-set-up-virtual-real-estate-office-in-the-metaverse-decentraland/
- Digital Capital Markets Platform Revere Closes $5M Seed Round – Commercial Observer https://commercialobserver.com/2022/02/capital-markets-platform-revere/
- Australian Proptech OwnHome Secures $31M via Series A https://www.crowdfundinsider.com/2022/02/186626-australian-proptech-ownhome-secures-31m-via-series-a/
- OMERS Ventures, Turner Construction team up to build the construction tech startup of their dreams https://techcrunch.com/2022/02/09/omers-ventures-turner-construction-team-up-to-build-the-construction-tech-startup-of-their-dreams/
- German construction tech startup Cosuno raises $30M Series B by Avenir Growth – TechCrunch https://techcrunch.com/2022/02/09/german-constructiontech-startup-cosuno-raises-30m-series-b-by-avenir-growth/
RESIDENTIAL PROPERTY NEWS (including PRS)
- The truth about the self-build process, by two people who know https://www.irishtimes.com/life-and-style/homes-and-property/the-truth-about-the-self-build-process-by-two-people-who-know-1.4797036 (Pictured above)
- Rents increase sharply as number of properties available falls close to historic low: Dublin is once again the hotspot of the rental crisis, according to figures from Daft.ie https://www.irishtimes.com/business/rents-increase-sharply-as-number-of-properties-available-falls-close-to-historic-low-1.4797186
- Figures compiled by BNP Paribas Real Estate show institutional buyers paid as much as 32pc more for each residence that they bought last year compared with the average price paid by household buyers in Ireland. https://m.independent.ie/irish-news/rents-soar-as-cuckoo-funds-massively-outbid-families-for-new-homes-41328342.html
- Ten biggest landlords now own 17,000 homes: Scale of institutional investors’ influence on the Irish housing marked is revealed in special report https://m.independent.ie/irish-news/revealed-ten-biggest-landlords-now-own-17000-homes-41339550.html
- First cost-rental schemes for south Dublin available soon: One-beds to rent for about €1,000 a month with two-beds at €1,200 https://www.irishtimes.com/news/social-affairs/first-cost-rental-schemes-for-south-dublin-available-soon-1.4794011
- 180 cost rental homes are expected to be secured for South Kildare https://www.kildarenow.com/news/local-news/739122/180-cost-rental-homes-are-expected-to-be-secured-for-south-kildare-senator-says.html
- Council tenants’ rent could be taken from social welfare payments under new plans: There are high level of arrears in Dublin, Waterford and Galway, with Dublin city council being owed €38 million alone https://www.businesspost.ie/houses/council-tenants-rent-could-be-taken-from-social-welfare-payments-under-new-plans-47b64008
- Mullen Park homes offered to buyers, but with 25% price hike: A number of houses in the Kildare estate came on the market last week, nearly a year after the outcry over a €1 billion global investment fund’s plans to bulk-buy 155 of its properties https://www.businesspost.ie/houses/mullen-park-homes-offered-to-buyers-but-with-25-price-hike-b5a63d66
- Government accused of ignoring proposals to tackle 90,000 vacant homes https://www.irishexaminer.com/news/arid-40801680.html
- Dublin City chief ‘does not believe’ figures on vacant units: Owen Keegan also tells panel that economic growth has led to loss of cultural spaces https://www.irishtimes.com/news/environment/dublin-city-chief-does-not-believe-figures-on-vacant-units-1.4798179
- Cork rolls out ‘early-warning system’ to identify buildings at risk of dereliction: Council planners and technicians have begun a street-by-street inspection process https://www.irishexaminer.com/news/munster/arid-40806414.html
- 90,000 could be in line for lower mortgage rate following surge in house prices https://m.independent.ie/business/personal-finance/property-mortgages/90000-could-be-in-line-for-lower-mortgage-rate-following-surge-in-house-prices-41319610.html
- Irish first-time buyers pay €180 a month more than EU neighbours for mortgages https://www.irishexaminer.com/news/arid-40804356.html
- Are our mortgages next in line for a price hike? https://www.rte.ie/news/business/2022/0210/1278980-are-our-mortgages-next-in-line-for-a-price-hike/
- How to become a property owner in Ireland for less than €10,000: Opinion Piece – I’ll never own a house, but at least I can buy an acre of land and say “this is mine”! https://www.thecork.ie/2022/02/11/opinion-ill-never-own-a-house-but-i-can-afford-an-acre-of-farmland-at-least-ill-be-a-property-owner/
- Classrooms of disused school available to rent ‘for studio living’ https://www.irishexaminer.com/news/arid-40806804.html
- Retrofit grants: €25,000 offered to households to help insulate homes: State to contribute half of cost of insulating homes up to high BER rating of B2 https://www.irishtimes.com/news/politics/retrofit-grants-25-000-offered-to-households-to-help-insulate-homes-1.4795335
- Retrofitting grants: How much will you get, how much will you pay, and will it be worth it? https://www.irishtimes.com/life-and-style/homes-and-property/retrofitting-grants-how-much-will-you-get-how-much-will-you-pay-and-will-it-be-worth-it-1.4799582
- Capacity for retrofitting homes must be expanded to prevent waiting times increasing beyond two years under the government’s new scheme https://www.thetimes.co.uk/article/expand-retrofitting-capacity-or-wait-times-will-spiral-says-sinn-fein-ddhzppfd3
- IPAV house price study confirms growing appeal of country https://www.westmeathindependent.ie/2022/02/06/ipav-house-price-study-confirms-growing-appeal-of-country/
- Rural family home in need of major renovation sells for €116,000 above asking amid housing crisis: “This property provides a detached five bedroom house with gardens to the front and rear” https://www.irishmirror.ie/news/irish-news/rural-family-home-need-major-26186525.amp
- Westmeath Records Third Highest Rise In House Prices In Ireland https://www.midlands103.com/news/midlands-news/westmeath-records-third-highest-rise-in-house-prices-in-ireland/
- A lesson in lunacy: Rental market madness as classrooms are offered up to tenants https://extra.ie/2022/02/12/property/rental-market-lunacy-highlighted?amp=1
- How to avoid fractious, costly boundary disputes with your neighbour: A new, proactive approach to disagreements over building work is long overdue https://www.irishtimes.com/life-and-style/homes-and-property/how-to-avoid-fractious-costly-boundary-disputes-with-your-neighbour-1.4793603
- Online auction specialist iamsold, which works in partnership with more than 300 auctioneers in Ireland, has noted the market really picking up in the past couple of weeks and expects strong demand for property to continue through February and March https://www.advertiser.ie/galway/article/127492/auction-company-predicts-busy-months-ahead
- The Property Registration Authority of Ireland (PRAI) now has a paperless copy-instrument facility available to solicitors acting for registered owners when applying for copy instruments. https://www.lawsociety.ie/gazette/top-stories/2022/pra-paperless-initiative-will-speed-up-turnaround-times
- Flow motion: transforming a derelict property into a charming home: A lack of running water didn’t deter the owners of this crumbling cottage — they harnessed its special energy to create a harmonious home https://www.thetimes.co.uk/article/flow-motion-transforming-a-derelict-property-into-a-charming-home-wxvch5xtx
- The Luxe Radar: Boss your home office into shape with luxury furniture, green technology and vintage classics – It’s time for a serious home office upgrade https://www.businesspost.ie/irish-tatler/the-luxe-radar-boss-your-home-office-into-shape-with-luxury-furniture-green-technology-and-vintage-classics-d660d929
- How painting your walls white transforms your home interiors: White is fresh, uplifting, amplifies space in every direction and has a timeless elegance used in a period or new house https://www.irishexaminer.com/property/homeandgardens/arid-40802310.html
COMMERCIAL PROPERTY NEWS
- Foot Locker bids to overturn High Court order on Grafton Street store rent: The sport retailer has gone to the Court of Appeal following a ruling last year which led to it paying over €1 million to its landlord. Foot Locker had wanted to have more than €519,000 of its rent written off for the 253 days it was unable to open as a result of lockdowns https://www.businesspost.ie/legal/foot-locker-bids-to-overturn-high-court-order-on-grafton-street-store-rent-02c2b8ee
- Investment fund’s supermarket sweep paying off: Focus on German shopping centres anchored by food chains is at heart of Greenman’s Covid recovery https://www.thetimes.co.uk/article/investment-funds-supermarket-sweep-paying-off-mz7rfptd7
- Debt enforcement actions have ground to a halt – except for one investment fund: Irish banks and investment funds’ instincts for debt enforcement litigation are seemingly dormant, except for one fund which may be running out of time: https://thecurrency.news/articles/72715/debt-enforcement-actions-have-ground-to-a-halt-except-for-one-vulture-fund/
- Sheds and beds are Ireland’s best investment bets, say BNP: Apartment blocks and logistics dominated 2021 investment deals, as US becomes net sellers of Irish assets, and as German and European investors come in ‘second wave’ https://www.irishexaminer.com/property/commercial/arid-40804575.html
- Rathcoole logistics facility offers size and sustainability- Building Two at the Greenogue Logistics Park is Ireland’s largest speculatively developed logistics facility and boasts Leed Silver green building accreditation https://www.businesspost.ie/commercial/rathcoole-logistics-facility-offers-size-and-sustainability-f5b53c0b
- Ireland’s oldest gay bar Loafers set to go under the hammer https://extra.ie/2022/02/06/property/irelands-oldest-gay-bar-for-sale?amp=1
- Citywest office investment sees asking price jump twice in 12 years: SW3 Capital offers 5.47pc net yield for the office property in south west Dublin https://m.independent.ie/business/commercial-property/citywest-office-investment-sees-asking-price-jump-twice-in-12-years-41323081.html
- Post-Covid office market begins to see demand take off again: The year ahead will be one of recovery, with take-up returning to long-term average levels after two years of unprecedented disturbance https://www.businesspost.ie/commercial/post-covid-office-market-begins-to-see-demand-take-off-again-34ed6402
- Huawei and Crowe commit to office space at Mespil Road: Bank of Ireland began marketing 40 Mespil Road on Grand Canal for sublet last year https://www.irishtimes.com/business/commercial-property/huawei-and-crowe-commit-to-office-space-at-mespil-road-1.4795729
- IPUT launches next phase at Aerodrome Business Park: Unit Q will provide 160,000sq ft of logistics space when completed in July https://www.irishtimes.com/business/commercial-property/iput-launches-next-phase-at-aerodrome-business-park-1.4795732
- Hibernia Reit rent collections remain strong as market recovers: Property group says it is making ‘excellent progress’ on key strategic priorities https://www.irishtimes.com/business/commercial-property/hibernia-reit-rent-collections-remain-strong-as-market-recovers-1.4798640
- Tech giants poised to take up more offices in Dublin: Letting agent HWBC says demand from overseas investors for Dublin offices continues to be extremely strong https://www.irishtimes.com/business/commercial-property/tech-giants-poised-to-take-up-more-offices-in-dublin-1.4799159
- Prominent building on Harcourt Street for €2.5m: Period property is in the heart of area primed for redevelopment https://www.irishtimes.com/business/commercial-property/prominent-building-on-harcourt-street-for-2-5m-1.4793583
- Dublin city centre offices up for grabs at €2.75m: A price drop has made Suites 501-506 of the Capel Building, let on a ten-year lease, a tempting prospect https://www.businesspost.ie/commercial/dublin-city-centre-offices-up-for-grabs-at-eur275m-542b7256
- Giraffe acquires two Dublin creches for more than €2.65m: Childcare facilities were sold by Cairn Homes at Marianella and Shackleton Mill developments https://www.irishtimes.com/business/commercial-property/giraffe-acquires-two-dublin-creches-for-more-than-2-65m-1.4792988
- A property with planning permission for a licensed premises at number 37 on Dublin’s Dame Street is being sold via Bagnall Doyle MacMahon. https://www.hospitalityireland.com/amp/pub-bar-nightclub/property-with-planning-permission-for-licensed-premises-on-dublins-dame-street-being-sold-163481
- Home Store + More expands Irish footprint with Frascati store: The homeware retailer is to open a huge outlet on the ground floor of the Blackrock shopping centre https://www.businesspost.ie/commercial/home-store-more-expands-irish-footprint-with-frascati-store-7e8577f1
- The investment strategies of CORUM’s French SCPI Funds, which have a structure similar to a REIT, are making waves in Ireland. https://m.independent.ie/business/commercial-property/french-property-funds-are-making-waves-in-ireland-41331118.html
- Developer Greg Kavanagh is selling the landmark Golden Ball pub in Kilternan, in the foothills of the Dublin mountains and is seeking offers in the region of €2,000,000. https://m.independent.ie/business/commercial-property/greg-kavanagh-seeking-2m-for-golden-ball-in-the-dublin-mountains-41331130.html
- Lego to open first Irish store in Dublin’s Grafton Street: New store will be open in summer, bringing Danish company’s new retail concept https://www.irishtimes.com/business/retail-and-services/lego-to-open-first-irish-store-in-dublin-s-grafton-street-1.4798709
- 64-66 Gardiner Street Lower, Dublin, with planning permission for a 72-bed hotel is being sold via NMC Properties for €7m https://www.hospitalityireland.com/amp/hotel/dublin-property-with-planning-permission-for-72-bed-hotel-being-sold-163292
- JMK Group to bed down Cork and Dublin hotels https://www.thetimes.co.uk/article/jmk-group-to-bed-down-cork-and-dublin-hotels-dh7jm00hw
- Collection Of Galway City Properties Including Nightclubs Being Sold https://www.hospitalityireland.com/amp/pub-bar-nightclub/collection-of-galway-city-properties-including-nightclubs-being-sold-162900
- Sale of Westin Paris for €800m tests the market for high-end hotels: The Westin Paris Vendôme hotel is being discreetly marketed by owners Henderson Park https://www.irishtimes.com/business/commercial-property/sale-of-westin-paris-for-800m-tests-the-market-for-high-end-hotels-1.4796270
INTERNATIONAL PROPERTY NEWS
- £1m Britain: the rise of the million-pound property: It’s not just London — you’ll now find property millionaires from Devon to Darlington https://www.thetimes.co.uk/article/1m-britain-the-rise-of-the-million-pound-property-hmj0725ns
- What do the latest data reveal about UK house prices? – Economics Observatory https://www.economicsobservatory.com/what-do-the-latest-data-reveal-about-uk-house-prices
- How to save a Sicilian town: sell homes for a euro – A bold idea to reverse the exodus from Sambuca has paid off beyond all expectations, Tom Kington writes https://www.thetimes.co.uk/article/world-comes-to-the-sicilian-town-of-sambuca-where-a-house-costs-one-euro-36nbh2sgz (pictured)
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/