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:

• From the strategic to the creative, Property District is Ireland’s leading communications agency for the planning, construction and property sectors. As a full-service communications agency, we specialise in helping your business create a dynamic brand, generate buzz around its projects, products and services, and we help you to attract new customers and team members. Our experienced team includes strategic marketers, PR/publicists, journalists, copywriters and social media experts who know what it takes to make sure your message is heard. We offer customised integrated tactics and creative campaigns, executing them with precision to ensure you stand out from the competition and achieve your goals. Email info@propertydistrict.ie to chat through some strategies for your business.

 

• Ratings agency S&P highlights ‘social risk’ in Irish loans: New portfolio of mortgages worth €336.7m is being marketed  https://m.independent.ie/business/irish/ratings-agency-s-and-p-highlights-social-risk-in-irish-loans-42344345.html

 

• CORMAC LUCEY | ECONOMIC OUTLOOK “I’m sticking with my prediction of a recession in Ireland and globally this year despite the optimism” https://www.thetimes.co.uk/article/look-past-the-optimistic-signs-and-the-threat-of-global-recession-remains-x5m6csn7b

 

• Housing crisis risks economic growth, warns business leader: Grant Thornton boss says a third of job offers to international applicants had been turned down due to lack of accommodation  https://www.businesspost.ie/news/housing-crisis-risks-economic-growth-warns-business-leader/

 

• Over half a billion euro for Ireland’s national roads and greenways in 2023  https://www.gov.ie/en/press-release/baf67-over-half-a-billion-euro-for-irelands-national-roads-and-greenways-in-2023/

 

• Statisticians defend official housing figures: CSO dismisses claim from Construction Information Services that it is overcounting homes  https://www.irishtimes.com/business/economy/2023/02/14/statisticians-defend-official-housing-figures/

 

• Planning applications for 70,000 homes awaiting decisions from An Bord Pleanála or High Court: Construction industry bodies to argue for more certain planning legislation at Oireachtas housing committee  https://www.irishtimes.com/ireland/housing-planning/2023/02/14/planning-applications-for-70000-homes-awaiting-decisions-from-an-bord-pleanala-or-high-court/

 

• Dublin City Council pays 40% over the odds for construction of social housing, audit finds: Public policy expert says council’s ability to manage costs was ‘severely restricted’  https://www.irishtimes.com/ireland/dublin/2023/02/15/dublin-city-council-pays-40-over-the-odds-for-social-housing-audit-finds/

 

• ESB bribery allegations will not affect housing supply – O’Brien  https://www.breakingnews.ie/amp/ireland/housing-minister-says-esb-bribery-allegations-will-not-affect-housing-supply-1432034.html

 

• Availability of housing a challenge for 70% of firms in attracting staff: Majority of firms expect weaker margins over next six months, according to Ibec’s annual CEO survey  https://www.irishtimes.com/business/2023/02/17/availability-of-housing-a-challenge-for-70-of-firms-in-attracting-staff/

 

• There’s an art to rent control laws. They need to give the tenant as much protection as possible, while being mindful not to disincentivize new supply. Ireland’s laws have utterly failed this test.  https://thecurrency.news/articles/109981/theres-an-art-to-rent-control-laws-this-is-why-ireland-has-failed/

 

• Rent Pressure Zones protect sitting tenants. New data shows the knock-on effect on new renters: Between 2015 and 2022, market rents increased by almost 75%, while in the same period, rents for sitting tenants increased by just 19%. And based on my analysis, Ireland is missing between 200,000 and 250,000 rental homes.  https://thecurrency.news/articles/109853/rent-pressure-zones-protect-sitting-tenants-new-data-shows-the-knock-on-effects-on-new-renters/

 

• Ireland should follow Denmark and require vacant properties to be rented out, Varadkar advised: The NESC report suggests an NCT-style system could be set up for rental properties to ensure minimum standards.  https://www.thejournal.ie/nesc-report-vacant-properties-denmark-5996520-Feb2023/

 

• Property group says homes in Government’s flagship apartment scheme should be open to purchase by landlords  https://m.independent.ie/irish-news/politics/property-group-says-homes-in-governments-flagship-apartment-scheme-should-be-open-to-purchase-by-landlords-42342703.html

 

• Grealish reads email in Dáil from man (35) about to emigrate due to ‘housing disaster’  https://www.galwaydaily.com/news/grealish-reads-email-in-dail-from-man-35-about-to-emigrate-due-to-housing-disaster/

 

• Allianz move away from property is straw in the wind for Ireland: The company is one of the world’s biggest money managers with €2.6trn in assets  https://m.independent.ie/business/commercial-property/allianz-move-away-from-property-is-straw-in-the-wind-for-ireland-42342658.html

 

• Mica homeowners unable to claim energy grants after red tape row: Property owners trying to bring their houses up to modern standards have been locked out of the state’s retrofit scheme  https://www.businesspost.ie/news/mica-homeowners-unable-to-claim-energy-grants-after-red-tape-row/

 

• TD Niall Collins denies owning Limerick site despite planning consultant’s claim: Minister for State says site is owned by his wife who is a ‘private citizen’  https://www.irishtimes.com/ireland/housing-planning/2023/02/14/td-niall-collins-denies-owning-limerick-site-despite-planning-consultants-claim/

 

• ‘Excessive’ – South Dublin build-to-rent scheme on hold after council bridles at €4,000 monthly cost  https://m.independent.ie/news/excessive-south-dublin-build-to-rent-scheme-on-hold-after-council-bridles-at-4000-monthly-cost-42339114.html

 

• Investors in Davy-organised investment scheme sued for €2.4m  https://www.irishexaminer.com/business/economy/arid-41070668.html

 

• Property professionals need to talk up the value of their trade and brand  https://m.independent.ie/business/commercial-property/property-professionals-need-to-talk-up-the-value-of-their-trade-and-brand-42344311.html

 

• A visa programme for millionaire immigrants is to be hastily shut: Justice Minister Simon Harris obtained approval from Government for the closure of the scheme.  https://www.thejournal.ie/immigrant-investor-programme-to-close-further-applications-5995264-Feb2023/

 

• ‘Cash for visa’ scheme raised €1.25 billion but was fraught with controversy: Immigrant Investor Programme had been under review for years due to concerns over volume of Chinese applicants and possible fraud, before government moved to close it down  https://www.businesspost.ie/news-focus/cash-for-visa-scheme-raised-e1-25-billion-but-was-fraught-with-controversy/

 

 

• New figures show growth in the Irish funds industry to $6.4tn: Monterey Insight, the independent fund research company also reported that the value of funds managed directly in Ireland dropped by 12.1 per cent  https://www.businesspost.ie/news/new-figures-show-growth-in-the-irish-funds-industry-to-6-4tn/

 

 

• Irish regional investment enjoys major dividend of US-Irish ties: Wealth of US-based companies investing in Ireland in 2023 including Abbott, NetApp, Technimark, Lilly, Merck and MSD https://www.irishexaminer.com/business/economy/arid-41066951.html

 

• The London Irish Centre has been presented with historian Ultan Cowley’s archive on the huge Irish contribution to the rebuilding of Britain from the middle of the last century.  https://www.irishpost.com/news/a-tribute-to-irish-construction-workers-247509

 

• Interesting UK ruling – could this happen in Ireland? ‘Landmark Japanese knotweed ruling costs council £300,000’ https://www.thetimes.co.uk/article/landmark-japanese-knotweed-complaint-costs-council-300-000-x2cmxtftb

 

• What will it take to rebuild Ukraine? The war in Ukraine is far from over. But the race to rebuild many of the country’s heavily damaged cities has already begun. https://www.rte.ie/news/ukraine/2023/0219/1357334-ukraine-rebuild-expo/

 

• Why can’t we build as fast as the Empire State Building? https://www.theb1m.com/article/empire-state-building-construction

 

• Watch: International Space Station captures shot of Cork from 400km above Earth – No Dougal Cork isn’t small, it’s just really far away!  https://www.corkbeo.ie/news/local-news/watch-international-space-station-captures-26259672

 

• British manager looks to put out firestorm over Ireland’s forestry fund: Anger at Gresham House’s tie-up with the Irish Strategic Forestry Fund is misplaced, says Anthony Dalwood  https://www.thetimes.co.uk/article/british-manager-looks-to-put-out-firestorm-over-irelands-forestry-fund-52gk72bqq

 

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

We are excited to share the growth of iPropertyRadio! What started as #PropertyMatters, a 60-minute weekly show on Dublin South FM 93.9FM over 4 years ago, has now evolved into a global online station for the best construction, urban planning, property and proptech content. Check out our website, iPropertyRadio.com, brought to you by Hear Me Roar Media for live and recorded access to all the week’s built environment news.

Want to have your industry podcast included or be a guest on our shows? Reach out to us at hello@ipropertyradio.com. Last year, we hit a massive 7.5 million digital impressions across our brands and this figure is growing – Q4 2022/Q1 2023 we now have an  average of 765,876 digital impressions each month, not including radio listenership and website visits. Huge thanks to all of you for your continued support!

This week on iPropertyRadio…

The future of bespoke financial advisory through automation

In the iPropertyRadio.com Proptech Hot Seat with host Carol Tallon this week is Sean McNulty of Rethink Money Ltd, the next generation of tech-driven investment, insurance and mortgage advisory.

Rethink Money’s new platform will allow people to access personalised, unbiased, and actionable recommendations on various financial topics, from saving and investing to borrowing and insuring, in seconds.

Watch back and listen back: https://ipropertyradio.com/proptech-hot-seat/

 

Produced by Hear Me Roar Media https://hearmeroarmedia.com

 

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

 

 

• Céard é Comhfhorbairt Áite? “Teastaíonn dea-áitíocht saineolaithe ildisciplíneacha freagraí a chur ar fáil, ach tugann áitíocht maith guth don phobal chun na ceisteanna cearta a chur ar bun.” 👉https://placeengage.com/ceard-e-comhfhorbairt-aite/

 

• Delivering Ireland’s Greenways, as set out in the ‘Code of Best Practice National and Regional Greenways’ https://www.publicconsultation.ie/news/delivering-irelands-greenways

 

• Dart+Tunnel is the missing link in Dublin’s transport plans: Underground link between Heuston Station and Spencer Dock should take priority over Metro to Airport  https://www.irishtimes.com/opinion/2023/02/16/frank-mcdonald-darttunnel-is-the-missing-link-in-dublins-transport-plans/

 

• Couple set to challenge planning refusal on site which they say would benefit children with autism: An Bord Pleanála inspector ‘wholly unconvinced’ exceptional health grounds constitutes actual need to live in particular environment  https://www.irishtimes.com/crime-law/courts/2023/02/15/couple-set-to-challenge-planning-refusal-on-site-which-they-say-would-benefit-children-with-autism/

 

• Minister signals support for new Irish-language radio service for young people: Move follows publication of a report that identified a ‘significant level of expressed interest’ among respondents in such a service  https://www.irishtimes.com/ireland/2023/02/15/minister-signals-support-for-new-irish-language-radio-service-for-young-people/

 

• Goldman Sachs company seeks not to make €4m contributions for play facilities and open space in Blanchardstown: Owner of Blanchardstown Town Centre seeks removal of conditions on planning contributions  https://www.irishtimes.com/business/2023/02/15/goldman-sachs-company-seeks-not-to-make-4m-contributions-for-play-facilities-and-open-space-in-blanchardstown/

 

• Construction begins on €30.85m extension to Royal Canal Greenway from North Strand to Phibsborough: The works to the Royal Canal Greenway were approved in 2015 but the tender was not issued until April of last year.  https://www.thejournal.ie/construction-begins-on-e30-85m-extension-to-royal-canal-greenway-fr-5996647-Feb2023/

 

• Court reserves decision in council’s appeal over Sandymount cycleway: Dublin City Council contended High Court’s findings will have ‘enormous implications’ for road authority operations  https://www.irishtimes.com/crime-law/courts/2023/02/14/court-reserves-its-decision-in-councils-appeal-over-sandymount-cycleway/

 

• Four social projects will provide 64 homes in Cork town: Developments consist of a Cork County Council turnkey development and three schemes undertaken in partnership between the council and approved housing bodies Charleville Sheltered Housing Services, Tuath Housing, and Peter McVerry Trust  https://www.echolive.ie/corknews/arid-41073671.html

 

• Funded by Fáilte Ireland, the scheme is intended to enhance the city centre by providing an experience that is “arresting, intriguing, and playful while illuminating the city’s unique heritage”.  https://www.echolive.ie/corknews/arid-41072189.html

 

• ‘Non’ to notion of Parisian beach on Long Walk site https://connachttribune.ie/non-to-notion-of-parisian-beach-on-long-walk-site/

 

• Galway’s Heritage Officer hits out at ‘ugly’ watersports centre   https://connachttribune.ie/heritage-officer-hits-out-at-ugly-watersports-centre/

 

• Galway’s newest tourist attraction has finally opened and its owners have big plans for its future. 14 log cabins located in Wildlands in Moycullen have been opened to the public today are now available for booking.  https://www.galwaybeo.ie/culture/family-kids/galways-newest-tourist-attraction-opens-8148672

 

• €10m for new education and community centre in Indreabhán  https://connachttribune.ie/e10m-for-new-education-and-community-centre-in-indreabhan/

 

• Government assessing proposals for new wastewater plants in Clarinbridge and Craughwell  https://galwaybayfm.ie/galway-bay-fm-news-desk/government-assessing-proposals-for-new-wastewater-plants-in-clarinbridge-and-craughwell/

 

• €38.8M announced for roads and greenways across region  https://www.northernsound.ie/news/e38-8m-announced-for-roads-and-greenways-across-region-210337

 

• €1.5M allocated to SLNCR greenway  https://www.oceanfm.ie/2023/02/16/e1-5m-allocated-to-slncr-greenway/

 

• Proposal to restore rail line between Waterford and Rosslare  https://www.wlrfm.com/news/plans-to-restore-rail-line-between-waterford-and-rosslare-291287

 

• Midlands Village Raises Concerns Over Plans To Double Its Population  https://www.midlands103.com/news/midlands-news/midlands-village-raise-concerns-over-plans-to-double-its-population/

 

• Plans for The Schoolhouse Community and Enterprise Centre in Rathvilly, Carlow out for public consultation: You can view the ideas online or in person at a number of venues  https://kclr96fm.com/plans-for-the-schoolhouse-community-and-enterprise-centre-in-rathvilly-carlow-out-for-public-consultation/

 

• Over 3.7 million euro allocated to local greenways projects https://www.shannonside.ie/news/over-3-7-million-euro-allocated-to-local-greenways-projects-219244

 

• €2.5 million for N4 Carrick-on-Shannon by-pass and €1.5 million for SLNCR green way  https://www.leitrimobserver.ie/news/carrick-on-shannon/1038673/breaking-news-2-5-million-for-n4-carrick-on-shannon-by-pass-and-1-5-million-for-slncr-green-way.html

 

• Public consultation on Con Smith Park ‘masterplan’  https://www.northernsound.ie/news/public-consultation-on-con-smith-park-masterplan-210295

 

• 141 economic investment queries in Donegal over three years  https://www.donegallive.ie/news/home/1034506/141-economic-investment-queries-in-donegal-over-three-years.html

 

• The ruins of an ancient castle in south west Donegal are in imminent danger of falling into the sea.  https://www.donegaldaily.com/2023/02/13/ruins-of-ancient-donegal-castle-could-fall-into-sea-report/

 

• Contracts have been signed for a major Regeneration Project in Letterkenny which will include a huge business hub in the heart of the town  https://www.donegaldaily.com/2023/02/14/contracts-signed-to-create-major-business-hub-in-heart-of-letterkenny/

 

• Lonely Planet crowns Errigal as Ireland’s best sunrise and sunset hike  https://www.donegaldaily.com/2023/02/18/lonely-planet-crowns-errigal-as-irelands-best-sunrise-and-sunset-hike/

 

• Clear enthusiasm for Gaeilge at meetings in non-Gaeltacht South Kerry https://m.independent.ie/regionals/kerryman/news/clear-enthusiasm-for-gaeilge-at-meetings-in-non-gaeltacht-south-kerry-42340369.html

 

• Launch set for report on Killorglin’s Energy Master Plan  https://m.independent.ie/regionals/kerryman/news/launch-set-for-report-on-killorglins-energy-master-plan-42341737.html

 

 

 

 

CONSTRUCTION & DEVELOPMENT NEWS

 

 

 

• CIF appointed as registration body for providers of building works  https://www.lexology.com/library/detail.aspx?g=0ac6efb1-af26-4ecc-802d-5ed32242807d

 

• Zoning and planning ‘embedded’ in legal system  https://www.lawsociety.ie/gazette/top-stories/2023/february/zoning-and-planning-embedded-in-legal-system

 

• Irish construction sees softer declines and fresh employment growth in January 2023: Input cost inflation drops to two-year low as year-ahead outlook strengthens to 11-month high https://www.irishrealestate.news/irish-construction-sees-softer-declines-and-fresh-employment-growth-in-january-2023/

 

• Construction slowdown for fourth month in a row as ‘subdued market conditions’ blamed for home-building lull  https://m.independent.ie/business/irish/construction-slowdown-for-fourth-month-in-a-row-as-subdued-market-conditions-blamed-for-home-building-lull-42338937.html

 

• Department records say goal of delivering 5,500 affordable homes ‘challenging’: Housing department says high cost of construction and issues with water infrastructure make meeting yearly target ‘very challenging’  https://www.businesspost.ie/news/department-records-say-goal-of-delivering-5500-affordable-homes-challenging/

 

• Developers and business owners who control highly valuable tracts of Dublin land are seeking to delist property from a new tax on vacant lands that is supposed to spur housebuilding https://www.irishtimes.com/ireland/dublin/2023/02/18/some-of-the-biggest-landowners-in-republic-dispute-new-land-tax-owed-on-vacant-sites/

 

• Irish developers turning offices into apartments as commercial market demand wanes: The high price of building new apartments has led developers to eye up former offices. But will the government help by relaxing the rules  https://www.thetimes.co.uk/article/irish-developers-turning-offices-into-apartments-as-commercial-market-demand-wanes-03r8p7mf0

 

 

• Construction Information Services round-up: The CIS offers the latest on projects on the ground and in the pipeline  https://www.businesspost.ie/property/construction-information-services-round-up-53/

 

• Larry Goodman’s Kildare Street office project faces fresh setback: Dublin City Council has raised concerns about a new plan by the beef magnate, to convert the old Kildare Street Hotel into offices https://www.businesspost.ie/news/larry-goodmans-kildare-street-office-project-faces-fresh-setback/

 

• Permission for €160m/698-bed space accommodation development near UCD quashed https://www.breakingnews.ie/ireland/permission-for-e160m-accommodation-development-near-ucd-quashed-1434738.html

• Harry Crosbie proposes €25m development for Grand Canal Docks site: Proposal includes building a music venue that would be twice the size of Crosbie’s Vicar Street property  https://www.irishtimes.com/business/2023/02/15/harry-crosbie-proposes-25m-development-for-grand-canal-docks-site/

 

• Housing Minister visits Lusk for the official sod turning of Kilhedge Lane, a new 31-home  development for older persons, being delivered by Tuath Housing in partnership with Fingal County Council https://www.irishrealestate.news/minister-obrien-turns-sod-at-new-development-for-older-persons-in-lusk/

 

• Council set to ‘fully defend’ developer’s challenge to house-building ban on site near St Anne’s Park: Pat Crean of Marlet’s constitutional challenge centres on decision to change zoning to ‘open space’ use  https://www.irishtimes.com/ireland/dublin/2023/02/13/council-set-to-fully-defend-developers-challenge-to-house-building-ban-on-site-near-st-annes-park/

 

• Ronan firm settles dispute over Brennanstown Road property  https://www.breakingnews.ie/amp/ireland/ronan-firm-settles-dispute-over-brennanstown-road-property-1432791.html

 

• Retail giants appeal against Blanchardstown Town Centre apartment scheme  https://www.breakingnews.ie/ireland/retail-giants-appeal-against-blanchardstown-town-centre-apartment-scheme-1432193.html

 

• Objectors hit out at ‘bland’, ‘generic’ plans to redevelop St Stephen’s Green Shopping Centre: Last month, Davy entity, DTDL Ltd lodge plans to rejuvenate the Dublin shopping centre.  https://www.thejournal.ie/st-stephens-green-redevelopment-criticism-5992434-Feb2023/

 

• Smyths Toys makes submission to An Bord Pleanála stating new MetroLink would involve demolition of north Dublin store: Retailer told appeals board that an alternative site for the store has not been identified in the planning report  https://m.independent.ie/irish-news/smyths-toys-makes-submission-to-an-bord-pleanala-stating-new-metrolink-would-involve-demolition-of-north-dublin-store-42342652.html

 

• Dublin City Council rejects plans for 11-storey hotel in docklands: Sean Doyle’s Harbourmaster Bar Ltd lodged plans last month for the 96-bed development  https://www.irishtimes.com/business/2023/02/16/hotel-plan-for-docklands-harbourmaster-bar-knocked-back/

 

• Firm linked to Noel O’Callaghan’s family firm plans 87 city apartments https://m.independent.ie/business/commercial-property/firm-linked-to-noel-ocallaghans-family-firm-plans-87-city-apartments-42337275.html

 

• TikTok to develop second Dublin data centre: Company is finalising a plan for a second facility in Dublin with a third-party service provider  https://www.businesspost.ie/tech/tiktok-to-build-new-dublin-data-centre/

 

• Bishopstown student housing facing over 130 objections: In December, Nyle General Partner lodged a planning application with Cork City Council seeking permission for the construction of purpose built student accommodation complex containing 205 bedspaces  https://www.echolive.ie/corknews/arid-41070230.html

 

• Work on social housing estate in Blarney proceeds despite protests: Developer secured injunction after homeowners threatened a blockade if the 44 units went ahead without consultation  https://www.irishexaminer.com/news/munster/arid-41074115.html

 

• City Council announces latest affordable housing scheme: The scheme consists of two-bedroom and three-bedroom townhouses https://www.echolive.ie/corknews/arid-41074667.html 

  
  

• Lidl’s plan to demolish Cork store and rebuild it bigger shot down by county council: The supermarket giant wanted to bring its floor space up by around 50 percent  https://www.corkbeo.ie/news/local-news/lidls-plan-demolish-cork-store-26232153

 

• Council refuses to extend planning for Galway City hotel  https://www.galwaydaily.com/news/council-refuses-to-extend-planning-for-galway-city-hotel/

 

• Fresh application for residential and commercial development in Salthill  https://www.galwaydaily.com/news/fresh-application-for-residential-and-commercial-development-in-salthill/

 

• Plans for 70 new homes in Oranmore  https://connachttribune.ie/plans-for-70-new-homes-in-oranmore/

 

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

 

• Appeal to An Bord Pleanala over refused housing development in Headford  https://connachttribune.ie/appeal-to-an-bord-pleanala-over-refused-housing-development-in-headford/

 

• Contracts signed for design and construction of €80 million development in Limerick  https://www.limerickleader.ie/video/local-news/1035305/contracts-signed-for-design-and-construction-of-80-million-development-in-limerick.html Also: Review of Opera project may lead to provision of more residential units  https://www.live95fm.ie/news/live95-news/review-of-opera-project-may-lead-to-provision-of-more-residential-units/

 

• New housing scheme will deliver 111 homes to Limerick village https://www.limerickleader.ie/video/home/1037653/new-housing-scheme-will-deliver-111-homes-to-limerick-village.html

 

• New homes for Kilmeaden as deal closes on Adamstown site  https://www.wlrfm.com/news/new-homes-for-kilmeaden-as-deal-closes-on-adamstown-site-291667

 

• Tallow Modular homes development unlikely to be built  https://www.wlrfm.com/news/tallow-modular-homes-development-unlikely-to-be-built-292127

 

• Plans lodged for 210 more homes on outskirts of Kilkenny city: If approved it would see the construction of 130 houses and 80 apartments  https://kclr96fm.com/plans-lodged-for-210-more-homes-on-outskirts-of-kilkenny-city/

 

 

• A planning application for a thirteen-unit housing development in County Kilkenny has been turned down by Kilkenny County Council.  https://www.kilkennypeople.ie/news/property/1035347/refused-housing-development-in-county-kilkenny.html

 

• €75m Maynooth residential project given planning extension by Kildare County Council https://www.leinsterleader.ie/news/home/1039331/75m-maynooth-residential-project-given-planning-extension-by-kildare-county-council.html

 

• Construction underway for €13.4m residential development planned for Kildare Town  https://www.kildarenow.com/news/home/1039306/construction-underway-for-13-4m-residential-development-planned-for-kildare-town.html

 

• Planning permission has been granted for a Naas school to be demolished and rebuilt. https://www.leinsterleader.ie/news/home/1039234/new-school-in-naas-will-accommodate-16-classrooms.html

 

• Planning permission sought to turn former Kildare pub into apartments  https://www.kildarenow.com/news/home/1035309/planning-permission-sought-to-turn-former-kildare-pub-into-apartments.html

 

• New Nursing Home In The Midlands Given Green Light  https://www.midlands103.com/news/midlands-news/new-nursing-home-in-the-midlands-given-green-light/

 

• Contract awarded for Kinnegad library and training centre  https://www.westmeathexaminer.ie/2023/02/17/contract-awarded-for-kinnegad-library-and-training-centre/

 

• 30 new homes at Coill Darach Castleblayney  https://www.northernsound.ie/news/30-new-homes-at-coill-darach-castleblayney-210292

 

• Plans for 28 homes in west Mayo village turned down  https://www.con-telegraph.ie/2023/02/18/plans-for-28-homes-in-west-mayo-village-turned-down/

 

• PLANS for 10 new homes on the Pontoon Road in Castlebar have been approved by Mayo County Council.  https://www.con-telegraph.ie/2023/02/19/green-light-for-new-homes-on-mayo-urban-sites/

  
  
  Development of 39 houses and apartments in Dingle appealed to An Bórd Pleanála https://www.radiokerry.ie/news/development-of-39-houses-and-apartments-in-dingle-appealed-to-an-bord-pleanala-317652

 

• Tipperary County Council intends to appoint an Architect led Single Point Design Team for refurbishment and alteration works at the old Post Office in the town. https://tippfm.com/news/tipperary-county-council/major-carrick-suir-project-goes-tender/

 

• Contract signed for Nenagh enterprise hub  https://www.nenaghguardian.ie/2023/02/18/contract-signed-for-nenagh-enterprise-hub/

 

• Appeals board rejects apartments plan for former west Mayo cap factory building  https://www.con-telegraph.ie/2023/02/15/appeals-board-rejects-apartments-plan-for-former-west-mayo-cap-factory-building/

 

• Insolvency plans allowing property-developer couple to write off €12m debts approved by court: Secured creditor Pepper Finance Corporation was withdrawing its objection to the plans on condition they will soon be altered  https://www.irishtimes.com/business/2023/02/13/court-approves-insolvency-plans-allowing-couple-to-write-off-12-million-debts/

 

• Bam Group has reported a slight increase in revenue from its UK and Ireland division in 2022, despite supply chain challenges affecting its civils arm. Overall, Bam UK and Ireland saw a 5 per cent increase in revenue in 2022 to €3.1bn (£2.8bn)  https://www.constructionnews.co.uk/contractors/bam-construct/bam-sees-rising-uk-revenue-despite-civils-challenges-17-02-2023/

 

• Kingspan sales rise above €8bn despite ‘bumpy’ trading: The building insulation firm said it was affected by high energy and consumer inflation  https://www.businesspost.ie/news/kingspan-sales-rise-above-e8bn-despite-bumpy-trading/

 

• Kingspan announce appointment of an independent director  https://www.northernsound.ie/news/kingspan-announce-appointment-of-an-independent-director-210405

 

• Blacklough Construction crumbles owing creditors millions after restructuring bid fails: The High Court agreed to wind-up the social housing builder after attempts to draw in new investment to Blacklough failed. The company had recently been the target of several attacks, including a masked raid on one of its sites https://thecurrency.news/articles/110527/blacklough-construction-crumbles-owing-creditors-millions-after-restructuring-bid-fails/

 

PROPTECH, ESG, MMC & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2023 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

 

• VC diversity needs to change — and white men need to take responsibility: The diversity numbers for startup funding and VC decision makers have been stagnant for years. We need to try a different tactic https://sifted.eu/articles/vc-diversity-white-men-need-to-take-responsibility/

 

• Irish VC funding fell flat in 2022 with a sharp end-of-year decline  https://www.siliconrepublic.com/start-ups/ireland-venture-capital-funding-2022-ivca

 

• It’s the ‘single best time’ to invest in real estate startups, according to Trulia founder and VC Pete Flint https://fortune.com/2023/02/13/best-time-to-invest-in-real-estate-startups-according-to-trulia-founder-vc-pete-flint/

 

• Irish  Proptech company Topfloor acquired in €6.2m deal: Shares in London-listed Grafenia rise 9 per cent after acquisition is confirmed  https://www.businesspost.ie/tech/proptech-company-topfloor-acquired-in-e6-2m-deal/

 

• Will AI Disrupt The Global Business Process Outsourcing Real Estate Market? https://www.forbes.com/sites/forbesbusinesscouncil/2023/02/15/will-ai-disrupt-the-global-business-process-outsourcing-real-estate-market/

 

• Proptech launches platform offering agents landlord portfolio details: Propalt co-founders Daniel Morgan and Kieran Slinger have upgraded the data platform to add a rental portfolio overview to its live market mapping tool  https://thenegotiator.co.uk/proptech-launches-platform-offering-agents-landlrod-portfolio-details/

 

• Plunk Powers Proptech Disruptors with Real-Time Housing Market Insights  https://www.prnewswire.com/news-releases/plunk-powers-proptech-disruptors-with-real-time-housing-market-insights-301746819.html

 

• How proptech is surviving the downturn, and more from Inman Connect New York  https://aimgroup.com/2023/02/16/how-proptech-is-surviving-the-downturn-and-more-from-inman-connect-new-york/

 

• Outlook for Artificial Intelligence in Real Estate: Startups Will Create the Future of Proptech https://www.prnewswire.com/news-releases/outlook-for-artificial-intelligence-in-real-estate-startups-will-create-the-future-of-proptech-301747948.html

 

• Fifth Wall Doubles Down On Its Commitment To The Middle East With The Addition Of Investment Veteran  https://www.prnewswire.com/ae/news-releases/fifth-wall-doubles-down-on-its-commitment-to-the-middle-east-with-the-addition-of-investment-veteran-301745900.html

 

• Camber Creek Closes $100M-Plus Fund in 2023’s Largest Proptech Raise So Far: VC firm will aim it at follow-on and special opportunity investments following $325 million Fund IV close last year  https://commercialobserver.com/2023/02/camber-creek-100-million-proptech-fund/#.Y-0Jl1qkgeU.twitter

 

 

• Top PropTech trends in 2023: Read more at: https://www.cxotoday.com/cxo-bytes/top-proptech-trends-in-2023/  https://www.cxotoday.com/cxo-bytes/top-proptech-trends-in-2023/

 

• PropTech’s Convenience Will Cost You, But How Much?  https://www.corelogic.com/intelligence/proptech-convenience-will-cost-you-part-two-2/

 

• Miami and Proptech: Why More Firms Are Considering the Magic City: It’s still not in the same league as Austin, New York, the D.C. area or San Francisco — but things have changed https://commercialobserver.com/2023/02/miami-proptech/

• Construction Software Startup Rivet Work Closes $5.6 Million Seed Round  https://commercialobserver.com/2023/02/rivet-work-proptech-detroit/

 

• peek under the hood of IBuying company Casavo – AIM Group https://aimgroup.com/2023/02/13/a-peek-under-the-hood-of-ibuying-company-casavo/

 

• Is the death of fintech and proptech overstated? This VC firm thinks so   https://www.bizjournals.com/sanfrancisco/news/2023/02/15/fiat-ventures-fintech-proptech-startups-growth.html

 

• Ko and Co-Ownership: welcome to the future of Australian holiday homes | The Property Tribune https://thepropertytribune.com.au/luxury/ko-and-co-ownership-the-future-of-australian-holiday-homes/

 

ENERGY, CLIMATE & ENVIRONMENT

• Report on Ireland’s power supply crunch to be published shortly: Eamon Ryan, the Minister for Environment, commissioned review by former secretary general to the Taoiseach on causes of energy capacity shortfall in coming years https://www.businesspost.ie/news/report-on-irelands-power-supply-crunch-to-be-published-shortly/

 

• Govt to buy up €3 million worth of carbon credits from Slovakia to meet climate targets  https://www.thejournal.ie/government-buy-carbon-credits-slovakia-5995598-Feb2023/

 

• A supergrid for Europe is the last piece in jigsaw to decarbonise Europe: Electrifying everything can become the great workhorse of decarbonisation and be the main driver in ending reliance on fossil fuels https://www.irishtimes.com/environment/climate-crisis/2023/02/18/a-supergrid-for-europe-is-the-last-piece-in-jigsaw-to-decarbonise-europe/

 

• Fossil fuel boilers will be fully phased out of new dwellings by end of 2024, committee told: Oireachtas Committee on Environment and Climate Action hears retrofitting of local authority housing an essential measure to tackle energy poverty  https://www.irishtimes.com/politics/oireachtas/2023/02/14/fossil-fuel-boilers-will-be-fully-phased-out-of-new-dwellings-by-the-end-of-2024-committee-told/

 

• ESB in talks to invest in offshore wind in Scotland: Negotiations with Canadian energy group at ‘advanced’ stage  https://m.independent.ie/business/irish/esb-in-talks-to-invest-in-offshore-wind-in-scotland-42346010.html

 

 

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Could rising interest rates cause property prices to fall?  https://www.rte.ie/news/business/2023/0219/1357313-could-rising-rates-cause-property-prices-to-fall/

 

• Government told to consider tax breaks for landlords who give long leases to tenants  https://m.independent.ie/irish-news/politics/government-told-to-consider-tax-breaks-for-landlords-who-give-long-leases-to-tenants-42342694.html

 

• Private landlords have little choice but to exit the market:  Pool of rental properties shrinking and rents of new lettings rising due to restraints on renting  https://www.irishtimes.com/opinion/2023/02/14/exodus-of-landlords-as-predictable-as-consequences-of-banning-bedsits/

 

• New rents 13.7% higher on average as availability hits ‘all time low’ If the winter eviction ban expires in March as planned, homelessness levels are expected to rise.  https://www.thejournal.ie/rental-crisis-ireland-5993786-Feb2023/

 

• Labour Party leader Ivana Bacik has called for an extension to the eviction ban, saying that if it were to end on April 1st, there would be a “deluge of evictions”.  https://www.newstalk.com/news/eviction-ban-should-be-extended-to-avoid-deluge-of-homeless-people-bacik-1436632

 

• First-time buyers’ annual mortgage repayments headed for €3,000 more than last year: Interest rate hikes are to blame – and at least two more are expected by the end of the summer  https://m.independent.ie/business/personal-finance/property-mortgages/first-time-buyers-annual-mortgage-repayments-headed-for-3000-more-than-last-year-42339119.html

 

• ‘Bank of mum and dad’ inflating house prices  https://www.q102.ie/news/q102-news/bank-of-mum-and-dad-inflating-house-prices/

 

• Mid-West rental accommodation supply declines while rents stay high: In Limerick city, about 16 homes were available to rent for about €1,913 per month  https://www.irishexaminer.com/business/economy/arid-41071562.html

 

• The Irish Self-Catering Federation is accusing Kerry County Council of ‘jumping the gun’ in issuing enforcement notices to people operating short-term let businesses.  https://www.radiokerry.ie/news/iscf-chair-accuses-council-of-jumping-the-gun-in-issuing-enforcement-notices-317548

 

 

• Kilkenny house prices likely to remain static in 2023 despite severe shortage: Hooke & MacDonald report warns that lack of properties available for sale or rent is impacting businesses in the county, while lack of viability for construction is making matters worse https://www.businesspost.ie/article/kilkenny-house-prices-likely-to-remain-static-in-2023-despite-severe-shortage/

 

• Homes of the week: 150-year-old farmhouse in Kilternan for €2.5m: A cut granite farmhouse in Kilternan with views of the Sugarloaf and a modern mews house in Ballinteer, Dublin 16 are among the properties coming to market this week  https://www.businesspost.ie/property/homes-of-the-week-150-year-old-farmhouse-in-kilternan-for-e2-5m/

 

• Apartments and duplex units go on view in Kilternan scheme: One, two and three-bed properties released to market with prices for one-bed apartments starting from €400,000  https://www.businesspost.ie/property/apartments-and-duplex-units-go-on-view-in-kilternan-scheme/

 

• The colour rules to follow, according to interior designers: We asked interior designers for their golden rules when it comes to choosing colours  https://www.houseandgarden.co.uk/article/paint-colour-rules

• €10k per sq m’ — ‘Tiny’ Dublin cottage hits market for eye-watering amount  https://extra.ie/2023/02/14/property/glasthule-property

 

• ONE OF the most iconic buildings in Limerick – thanks to Dolores O’Riordan – is up for sale.  https://www.limerickleader.ie/news/home/1031538/the-dream-property-for-a-fan-of-the-late-dolores.html

 

• Does the new eviction ban mean my son can’t move into our rental property? Property Clinic: My son is returning after a few years in Australia. It seems unfair if we can’t rent our own property to him  https://www.irishtimes.com/property/residential/2023/02/14/does-the-new-eviction-ban-mean-my-son-cant-move-into-our-rental-property/

 

• Check out Dublin’s tiniest cottage on sale for eye-watering price The Rathmines home measures just 27.87sqm – making it even even smaller than Dublin’s Skinniest Home that was on sale a few years ago  https://www.dublinlive.ie/news/property/check-out-dublins-tiniest-cottage-26243568.amp

 

• The Ballinhassig native, who works in Cork Builders Providers, is currently documenting the construction of a house next door to her parents through an Instagram page, selfbuildby_marie.  https://www.echolive.ie/corknews/arid-41073479.html

 

• Renovating your home: follow these five steps for a perfect result: Look on renovating as a chance to infuse your personality into every nook and cranny of your home  https://www.irishtimes.com/property/interiors/2023/02/17/renovating-your-home-follow-these-five-steps-for-a-perfect-result/?

 

 

• It’s official, house prices in Northern Ireland are starting to fall… But prices are still rising in four council areas  https://www.irishnews.com/business/businessnews/2023/02/15/news/it_s_official_house_prices_in_northern_ireland_are_starting_to_fall-3062544/

COMMERCIAL PROPERTY NEWS

• Commercial property market faces into winter, but will it be a big freeze? The sector is dealing with a double whammy of an economic downturn and changes in working patterns  https://www.irishtimes.com/business/2023/02/17/commercial-property-market-faces-into-winter-but-will-it-be-a-big-freeze/

 

• BNP Paribas Real Estate Ireland reports €5.6bn worth of rent-producing assets traded in 2022, making it the second-highest level of spending ever recorded. Offices are back on top spot for the first time since 2019, with €1.73bn of assets trading https://www.irishrealestate.news/2022-second-strongest-year-on-record-for-irish-investment-property-market/

 

• Checking in on the state of the hotel sector in Dublin: Global uncertainty and a spike in construction cost inflation have some experts suggesting Dublin’s hotel market may have to cool its heels or opt for ‘leaner’ boutique-style lodgings https://www.businesspost.ie/property/checking-in-on-the-state-of-the-hotel-sector-in-dublin/

 

• Refurbish and retrofit to trump demolish and replace in 2023: Certain investors are sitting back with an expectation of better value for buyers in the future, but the ESG credentials of any property are key in the Irish investment market  https://www.businesspost.ie/property/refurbish-and-retrofit-to-trump-demolish-and-replace-in-2023/

 

• Fine Grain acquires Waterside at Citywest for undisclosed sum: Iput and Davy Real Estate, through selling agent Savills, had been seeking offers of €71.5 million for the 15-acre campus

https://www.businesspost.ie/article/fine-grain-acquires-waterside-at-citywest-for-undisclosed-sum/

 

• Cpl to relocate office HQ to upgraded One Haddington Buildings: The recruitment company will occupy space on the ground and first floors of the Dublin 4 address  https://www.businesspost.ie/property/cpl-to-relocate-office-hq-to-upgraded-one-haddington-buildings/

 

 

• TikTok base in Dublin’s south docklands on the market for €280m: Cushman & Wakefield initiates a targeted sale process for TikTok’s base in city’s south docklands  https://www.irishtimes.com/property/commercial-property/2023/02/15/singapore-investor-seeks-280m-for-dublin-docklands-office/

 

• Zara owner pulls out of €550m deal to buy Meta’s Dublin HQ: Collapse of Fibonacci Square deal is a sign of plunging office market  https://www.thetimes.co.uk/article/zara-owner-pulls-out-of-550m-deal-to-buy-metas-dublin-hq-7f5v0d6wp

 

• Citywest office block in walk-in condition guiding at €8.25m: 3007 Lake Drive has capacity for 350 workers and can be leased in its entirety or floor by floor  https://www.irishtimes.com/property/commercial-property/2023/02/15/citywest-office-block-in-walk-in-condition-guiding-at-825m/

 

• Fears for Irish jobs as LinkedIn cuts recruitment roles: Company said it is still hiring for some roles but at a slower rate than previously  https://www.businesspost.ie/tech/fears-for-irish-jobs-as-linkedin-cuts-recruitment-roles/

 

• ‘I feel ill’ – There has been a strong reaction to the vision for old Bernard Shaw site  https://www.joe.ie/news/strong-reaction-old-bernard-shaw-site-767930

 

• Student beds investment for income? Or a city shop building? Take your pick – Nine bed student building with €430k guide earns €48k in rent a year, while Kellehers traditional newsagency at 55 North Main Street seeks new owners with guide of €450k  https://www.irishexaminer.com/property/commercial/arid-41072270.html

 

• 70 high-end jobs for Galway as Expleo opens innovation hub: The move, part of the company’s plan to establish regional hubs across Ireland, will involve a €5 million investment https://www.businesspost.ie/news/70-high-end-jobs-for-galway-as-expleo-opens-innovation-hub/

 

• Penneys to open first Co Wicklow store in Bray later this year  https://www.rte.ie/news/business/2023/0217/1357188-penneys-to-open-in-co-wicklow/

 

• Sandwich chain with outlets in Carlow and Kilkenny understood to be exploring possible sale of business: Its products are available at four outlets locally  https://kclr96fm.com/sandwich-chain-with-outlets-in-carlow-and-kilkenny-understood-to-be-exploring-possible-sale-of-business/

 

• 13 jobs saved as Listowel’s Iceland store to remain open  https://www.radiokerry.ie/news/13-jobs-saved-as-listowels-iceland-store-to-remain-open-317973

 

• Irish hotel group Dalata to open first London Maldron: The North London property was acquired by Dalata for just under €50m and is located near Arsenal’s Emirates Stadium  https://www.irishexaminer.com/business/companies/arid-41072777.html

 

 

 

INTERNATIONAL PROPERTY NEWS

• Rocketing rents drive tenants out of London https://www.thetimes.co.uk/article/rocketing-rents-drive-tenants-out-of-london-9jxnlwbkm Also: Renters face even tougher time as buy-to-let landlords sell up  https://www.thetimes.co.uk/article/renters-face-even-tougher-time-as-buy-to-let-landlords-sell-up-w77mnpl6n

 

• Purplebricks issues profit warning and puts itself on the market: Value of estate agent, once at the vanguard of online property sales, has fallen since 2018  https://www.theguardian.com/business/2023/feb/17/purplebricks-issues-profit-warning-and-puts-itself-on-the-market

 

• Tough line on cladding suppliers could level down property development: The government’s bullishness on the developer remediation contract might trigger unintended consequences  https://www.thetimes.co.uk/article/tough-line-on-cladding-suppliers-could-level-down-property-development-d0jx3jpnh

 

• Developer appointed by TfL to develop three offices above London Tube stations  https://www.bdonline.co.uk/news/developer-appointed-by-tfl-to-develop-three-offices-above-london-tube-stations/5121807.article

 

• UK project starts plummet by half in last three months  https://www.constructionnews.co.uk/data/project-starts-plummet-by-half-in-last-three-months-17-02-2023/

 

• Sun, sea and golf beckon at Algarve’s latest exclusive development: A gated scheme of 89 apartments and villas on the 12th hole of Quinta do Lago North Golf Course is coming to market. Prices start at €3.2 million for the apartments up to €8 million plus for the largest of the luxury villas  https://www.businesspost.ie/property/sun-sea-and-golf-beckon-at-algarves-latest-exclusive-development/

 

• Tenders invited for sale and redevelopment of Helsinki’s historic Old Customs House: Winning proposal will serve as a basis for the Finnish capital’s new city plan  https://www.businesspost.ie/property/tenders-invited-for-sale-and-redevelopment-of-helsinkis-historic-old-customs-house/

 

 

• Saudi Arabia is Building a 400-Metre Tall Cube-Shaped Skyscraper  https://www.theb1m.com/video/saudi-arabia-cube-shaped-skyscraper-2023

 

• Explainer of all the key facts you need to know about the Neom development in Saudi Arabia and its megacity The Line, which is proving to be the most controversial architecture project in recent history https://www.dezeen.com/2023/02/18/neom-explainer-this-week/

 

• North America’s first ‘top-down’ tower nears completion in Detroit  https://www.globalconstructionreview.com/north-americas-first-top-down-tower-nears-completion-in-detroit/

 

• OC Landlord Group Moves to Sue Santa Ana to Overturn Rent Control https://voiceofoc.org/2023/02/oc-landlord-group-moves-to-sue-santa-ana-to-overturn-rent-control/

 

• Colorado’s new environmental rule could cost building owners, tenants more than $3 billion  https://denvergazette.com/news/environment/colorados-new-environmental-rule-could-cost-building-owners-tenants-more-than-3-billion/article_0fa56f7a-ab58-11ed-bb40-4bbd2c17b681.html

 

• Tallest building in the World [2023] Top 10 List with Height  https://purneauniversity.org/tallest-building-in-the-world/

 

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/