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: 

 

• Online application set to open next week for affordable homes- Kilcarbery, Clondalkin: South Dublin County Council selling houses from €245,600 to €285,300 https://www.irishtimes.com/news/social-affairs/online-application-set-to-open-next-week-for-affordable-homes-1.4812426

 

• Dublin included on list of world cities that will be underwater first: The entire stretch from Ringsend to Sandymount could be underwater  https://www.dublinlive.ie/news/dublin-news/dublin-included-list-world-cities-23189426 

 

• Homelessness rising at ‘alarming rate’ since Covid measures eased: Some 9,150 adults and children accessed emergency accommodation in January https://www.irishtimes.com/news/social-affairs/homelessness-rising-at-alarming-rate-since-covid-measures-eased-1.4812287

 

• State to make submissions on residents’ bid to halt developer case: Building firm has taken several legal actions against residents opposing development https://www.irishtimes.com/news/crime-and-law/courts/high-court/state-to-make-submissions-on-residents-bid-to-halt-developer-case-1.4808444

 

• New homes supply has ‘gone into reverse’, claim property lobbyists: Head of developers’ group says there is ‘no prospect at all’ of Dublin City Council meeting its housing target https://www.businesspost.ie/houses/new-homes-supply-has-gone-into-reverse-claim-property-lobbyists-f6358ca9

 

• Changing Our Industry: PropTech group hold webinars on UK reform- do we need to look at something similar for Ireland? https://www.estateagenttoday.co.uk/breaking-news/2022/2/changing-our-industry–proptech-group-hold-webinars-on-reform

 

• Irish Examiner view: We need to consider a tax on second homes – If Ireland is serious about affordable housing then this must be accompanied by a thorough review of property usage  https://www.irishexaminer.com/opinion/ourview/arid-40813980.html

 

• Bill to reduce derelict buildings could deliver 11,000 homes a year, architect says: Proposed legislation would transfer task of collecting 7% levy to Revenue https://www.irishtimes.com/news/politics/bill-to-reduce-derelict-buildings-could-deliver-11-000-homes-a-year-architect-says-1.4809449 

 

• The State has spent more than €9m to build a Newgrange-inspired pavilion to represent Ireland at the Dubai Expo. https://m.independent.ie/irish-news/news/state-spends-9m-on-stone-age-pavilion-to-fly-the-flag-at-dubai-expo-41389550.html

 

• UCC name building in honour of first-ever female engineering graduate: “I think she would be especially pleased to know that this is the first of UCC’s building to be named after a female pioneer.”  https://www.corkbeo.ie/sport/ucc-name-building-honour-first-23189330

 

• The countdown to a more sustainable built environment with Futurebuild 2022:  The conference programme will explore some of the key questions and issues around closing the gap between net zero ambition and delivery  https://www.pbctoday.co.uk/news/bim-news/more-sustainable-built-environment/106308/

 

• Why battery technology could be a game-changer for Ireland’s energy needs: The invasion of Ukraine by Russia underlines the volatility of the international energy market, and how we urgently need to act to solve our energy security problems https://www.businesspost.ie/energy/john-walsh-why-battery-technology-could-be-a-game-changer-for-irelands-energy-needs-0684c85a

 

• ‘Prima facie’ case of fraud has been established in Davy case, judge rules: Decision comes in pre-trial application of case against stockbroker by property developer Patrick Kearney and Kilmona Holdings Ltd  https://www.irishtimes.com/business/financial-services/prima-facie-case-of-fraud-has-been-established-in-davy-case-judge-rules-1.4810312

 

• Paula Kearney will deliver a monologue in ‘The Apology’ – the first public act from a project entitled ‘Multi-Story – Creative Engagement for Housing Change’.  https://www.rte.ie/news/2022/0222/1282254-performance-housing-crisis/

 

• National Broadband Plan a ‘game changer’ as more digital nomads choose to use remote hubs: Paul Jacob, who owns the Wicklow Hub, said fibre broadband has transformed his business  https://m.independent.ie/irish-news/news/national-broadband-plan-a-game-changer-as-more-digital-nomads-choose-to-use-remote-hubs-41378173.html

 

• Big tech seems to be falling into line behind the concept of the metaverse, but is it a solution looking for a problem?  https://www.businesspost.ie/connected/big-tech-seems-to-be-falling-into-line-behind-the-concept-of-the-metaverse-but-is-it-a-solution-looking-for-a-problem-614a16a7

 

• Interview with Propster – an overview of industry tech adoption in Ireland: “Innovation is key, technology is only the tool” https://propster.tech/en/carol-tallon-innovation-is-key-technology-is-only-the-tool/

 

 

• Property developer Joe Cosgrave dies aged 62: Cosgrave brothers built thousands of homes and notable commercial projects in Dublin https://www.irishtimes.com/business/property-developer-joe-cosgrave-dies-aged-62-1.4808371

 

 

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.

Produced by Hear Me Roar Media

Watch: Fixing Ireland’s property buying process https://youtu.be/6LBoHFNnQ_s

 

 

Watch: Commercial real estate in Ireland https://youtu.be/TFZVXmkp4DI

 

 

Watch: Proptech Activity 2022 https://youtu.be/UAtRXcDXYVk

 

 

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

Email the Property Matters team at info@propertydistrict.ie 

 

Also, I joined estate agent Clare Connolly on her regular Facebook live ‘All Under One Roof’ for a chat about all things property. Watch back: https://fb.watch/bq–qf70tQ/ 

 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• There is no shortage of ambitious projects to improve Dublin for its citizens, but just why are so few of them being realised? Proposals to improve Dublin tend to remain just that, leading to questions about the city council’s ability to deliver both big and small-ticket items https://www.businesspost.ie/Planning/capital-loss-there-is-no-shortage-of-ambitious-projects-to-improve-dublin-for-its-citizens-but-just-why-are-so-few-of-them-being-realised-5668c6d4

 

• Heritage Ireland 2030 Sets out Strategy for the Protection of Irish Heritage with Joined-up Approach Across Government, Stakeholders and Communities  https://www.gov.ie/en/press-release/02a15-heritage-ireland-2030-sets-out-strategy-for-the-protection-of-irish-heritage-with-joined-up-approach-across-government-stakeholders-and-communities/ 

 

• Planning permission refused for 97 apartments in Dublin 6: Milltown residents claim build-to-rent scheme would create ‘ghettoised population’  https://www.irishtimes.com/business/construction/planning-permission-refused-for-97-apartments-in-dublin-6-1.4809256

 

• Supreme Court agrees to hear appeal against Hell Fire club visitor centre: Residents’ group opposes €15 million development it say would have adverse effect https://www.irishtimes.com/news/crime-and-law/courts/supreme-court/supreme-court-agrees-to-hear-appeal-against-hell-fire-club-visitor-centre-1.4809316

 

• Court to decide over legality of three prominent Dublin street murals: The murals by the group Subset did not have the all-clear from the city’s planning department.  https://www.thejournal.ie/subset-dublin-city-council-court-murals-5690447-Feb2022/

 

• Plan for Cork city to Schull greenway  https://www.southernstar.ie/news/plan-for-cork-city-to-schull-greenway-4238700

 

• Baltimore’s railway building plans gone off track  https://www.southernstar.ie/news/baltimores-railway-building-plans-gone-off-track-4238785 (pictured) 

 

• Plans for Cork playground projects: CORK County Council has published tender documents for two playground projects. https://www.echolive.ie/corknews/arid-40817364.html

 

• Limerick’s dangerous and derelict buildings caused by ‘property speculating’: Documents show how Limerick deals with dangerous and derelict buildings.  https://www.thejournal.ie/limerick-dangerous-structures-derelict-buildings-5685875-Feb2022/?amp=1

 

• Local arts group moves a step closer to securing new home in Limerick town  https://www.limerickleader.ie/news/home/747443/local-arts-group-moves-a-step-closer-to-securing-new-home-in-limerick-town.html

 

 

• An appeal has been lodged with An Bord Pleanála against the decision of Waterford City and County Council to grant planning permission for the residential care centre at Cladagh, 4km east of the village of Clashmore, Co Waterford. https://www.irishexaminer.com/news/arid-40815468.html

 

• Clane community group wins permission to challenge 91-home plan: Community council says it fears ‘significant overdevelopment’ of the Kildare town  https://www.irishtimes.com/business/construction/clane-community-group-wins-permission-to-challenge-91-home-plan-1.4811316

 

• The fascinating history of Irish emigration to Canada  https://www.irishpost.com/history/the-fascinating-history-of-irish-emigration-to-canada-230370

 

 

*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

• Geopolitical concerns get earnings season off to a rocky start: Environmental and economic uncertainty also weigh heavily https://www.thetimes.co.uk/article/geopolitical-concerns-get-earnings-season-off-to-a-rocky-start-0dtfqknrj

 

• The jury at an inquest into the death of a 41-year-old Donegal man who was electrocuted while working on a construction site has recommended that the dangers of electricity are highlighted, particularly when a crane comes on site.  https://www.rte.ie/news/ulster/2022/0223/1282611-donegal-inquest-health-safety-bonner/

 

• Construction costs continue to rise with 3.5% increase in January  https://www.breakingnews.ie/amp/business/construction-costs-continue-to-rise-with-3-5-increase-in-january-1262258.html Also: Soaring costs are undermining industry viability in construction  https://m.independent.ie/business/commercial-property/soaring-costs-are-undermining-industry-viability-in-construction-41377970.html

 

• NI’s Construction Sector ‘Less Optimistic’ Than UK Counterparts  https://www.4ni.co.uk/northern-ireland-news/282937/ni-s-construction-sector-less-optimistic-than-uk-counterparts

 

• A good foundation is half the battle: The National Planning Framework provides an overarching long-term strategy for national investment, and is an ambitious strategy with potentially far-reaching consequences https://www.businesspost.ie/commercial-reports/a-good-foundation-is-half-the-battle-9bacfb9f

 

• Sales of development land up 11% as builders jockey for residential sites: Savills report predicts another ‘robust’ year in 2022 with housebuilding set to ramp up  https://www.irishtimes.com/business/commercial-property/sales-of-development-land-up-11-as-builders-jockey-for-residential-sites-1.4807482

 

• Sky’s the limit: Young crane driver scales new heights –  It is believed the 18-year-old is the youngest and only female tower-crane operator in the country https://www.rte.ie/news/ireland/2022/0222/1282385-female-crane-driver/ (pictured)

 

• Dublin data centres face gridlock on future capital plans https://www.thetimes.co.uk/article/power-hungry-dublin-data-centres-face-gridlock-on-future-capital-plans-20k7ggd76

 

• Councillor calls for removal of Kilternan site from Strategic Land Reserve designation: Large property players set to lose out if he and planners succeed in closing door on future development which they claim would result in ‘unsustainable urban sprawl’  https://www.businesspost.ie/Planning/councillor-calls-for-removal-of-kilternan-site-from-strategic-land-reserve-designation-0c9d6967

 

• Move by Sisters of Charity to rezone Merrion Road land would boost its value to €50m: Order controversially closed St Mary’s and Caritas care centres in 2020 https://www.irishtimes.com/news/ireland/irish-news/move-by-sisters-of-charity-to-rezone-merrion-road-land-would-boost-its-value-to-50m-1.4808527

 

• Churches and education officials clash over rezoning school lands  https://m.independent.ie/irish-news/news/churches-and-education-officials-clash-over-rezoning-school-lands-41389710.html

 

• Ardstone Capital threatens legal action over zoning ‘error’ in Ranelagh: Dublin City Council asked by advisers for Sandford Living to rectify Z15 zoning https://www.irishtimes.com/business/construction/ardstone-capital-threatens-legal-action-over-zoning-error-in-ranelagh-1.4809482 Also: Ranelagh zoning case comes full circle for Arthur Cox:  Ardstone engaged firm to advise on challenge over land where founder once studied to be a priest https://www.irishtimes.com/business/ranelagh-zoning-case-comes-full-circle-for-arthur-cox-1.4809956 

 

• Planning permission refused for McKillen Jr’s 20-storey tower in Lucan: Objectors described ‘monolithic’ block as a ‘horrific eyesore’ and ‘a blot on the landscape’ https://www.irishtimes.com/business/construction/planning-permission-refused-for-mckillen-jr-s-20-storey-tower-in-lucan-1.4810245

 

• Residents oppose plan for 493-apartment scheme in Blackrock: Businessmen behind Press Up Hospitality Group seek approval to add over 200 units to existing approval https://www.irishtimes.com/business/construction/residents-oppose-plan-for-493-apartment-scheme-in-blackrock-1.4811169

 

• Some 80 objections lodged against build-to-rent scheme in Glenageary: Red Rock Developments faces opposition to plans for 147 apartments at junction of Sallynoggin Road Lower and Glenageary Avenue  https://www.irishtimes.com/business/construction/some-80-objections-lodged-against-build-to-rent-scheme-in-glenageary-1.4810413

 

• An Bord Pleanála approves €42m Ballyboden housing scheme; Permission granted to developer for 131-unit scheme despite local opposition  https://www.irishtimes.com/business/construction/an-bord-plean%C3%A1la-approves-42m-ballyboden-housing-scheme-1.4808235

 

• Motor Distributors Limited (MDL) Holdings is to bring forward plans to redevelop its 15-acre headquarters site in Dublin, which could accommodate hundreds of new housing units and offices in towers up to 22-storeys https://www.irishtimes.com/business/wealthy-o-flaherty-family-eye-22-storey-tower-at-naas-road-dublin-1.4807456

 

• Shelbourne Park greyhound racing track owner seeks to develop site for housing: Move on Dublin 4 track site potentially threatens future of sport in the capital  https://www.irishtimes.com/business/shelbourne-park-greyhound-racing-track-owner-seeks-to-develop-site-for-housing-1.4809506

 

• Warehouse with residential development potential near Tallaght: A detached warehouse building on 0.7 acres at 73 Cookstown Industrial Estate has could by put to industrial and/or residential use  https://www.businesspost.ie/commercial/warehouse-with-residential-development-potential-near-tallaght-a49f1472

 

• Cork Model Farm Road site for homes as religious order’s ex-care home comes to the open market: Model Farm Road is one of Cork’s housing hot-spots, with recent new builds across the road making €1m-€1.5m  each https://www.irishexaminer.com/property/commercial/arid-40814907.html 

 

• Blarney Castle operators launch High Court challenge to development of primary care centre: The site is 236m from the boundary of the castle estate and about 480m from the castle itself.  https://www.echolive.ie/corknews/arid-40813995.html

 

• Expressions of interest sought for former tourist office site in Salthill  https://galwaybayfm.ie/galway-bay-fm-news-desk/expressions-of-interest-sought-for-former-tourist-office-site-in-salthill/amp/

 

• Plans for first-of-its-kind assisted living scheme in Gort could pave the way for a ‘revolution’ in housing for older people in Ireland.  https://connachttribune.ie/gort-scheme-sets-template/

 

• A bright outlook for Limerick and surrounding areas in 2022  https://www.limerickleader.ie/news/sponsored-content/746813/a-bright-outlook-for-limerick-and-surrounding-areas-in-2022.html (pictured)

 

• Plans for a €60m mixed-used office, hotel and residential development, including a landmark 14-storey apartment block, in Limerick city have been rejected by An Bord Pleanála  https://m.independent.ie/business/irish/planners-reject-60m-limerick-housing-and-hotel-development-41374213.html

 

• Kilkenny city development lands for sale with permission for 130 homes https://www.kilkennypeople.ie/news/kilkenny-city/747205/kilkenny-city-development-lands-for-sale-with-permission-for-130-homes-click-for-more.html

 

• Actor gets planning permission for glamping site close to Kilkenny  https://www.kilkennypeople.ie/news/border/751932/actor-gets-permission-to-construct-glamping-site-just-over-the-kilkenny-border.html

 

• Builder facing review of Clane schemes says it won’t breach housing caps: Will Fadden, director of operations at Westar Developments, said the company would only build 30 to 40 homes in the area a year  https://www.businesspost.ie/houses/builder-facing-review-of-clane-schemes-says-it-wont-breach-housing-caps-dd566d39

 

• Legal and planning battles over food processing plants are having a “chilling effect” on development in the agri-food sector here, an industry source has warned  https://m.independent.ie/business/farming/news/farming-news/planning-battles-having-a-chilling-effect-on-agri-food-development-insider-warns-41369869.html

 

• Old wind turbine blades repurposed as Irish bridge  https://www.globalconstructionreview.com/old-wind-turbine-blades-repurposed-as-irish-bridge/

 

• 98-home Navan development appealed to Bord Pleanala  https://www.meathchronicle.ie/2022/02/26/98-home-navan-development-appealed-to-bord-pleanala/

 

• 100 new jobs as construction work set to commence on Offaly factory expansion  https://www.offalyexpress.ie/news/tullamore-tribune/751581/100-new-jobs-as-construction-work-set-to-commence-on-offaly-factory-expansion.html

 

• €1 million enterprise land deal for Portlaoise enterprise park  https://www.leinsterexpress.ie/news/local-news/753123/1-million-enterprise-land-deal-for-portlaoise-enterprise-park.html

 

• Plans for major housing development in Cavan Town: Erne Building Solutions Ltd, a Lisnaskea based company, has applied for planning permission  https://www.anglocelt.ie/2022/02/20/plans-for-major-housing-development-in-cavan-town-2/

 

• Planning permission granted for construction of six houses in Castleblayney  https://www.northernsound.ie/news/planning-permission-granted-for-construction-of-six-houses-in-castleblayney-190183

 

• US court gives Killilea more time to provide assets to cover €19m judgment: Judge in US district court in Connecticut extends deadline until March 4th https://www.irishtimes.com/business/construction/us-court-gives-killilea-more-time-to-provide-assets-to-cover-19m-judgment-1.4810364

 

• Profits surge to €7.2m at Irish timber group Brooks  https://m.independent.ie/business/irish/profits-surge-to-72m-at-irish-timber-group-brooks-41378043.html

 

• Woodie’s owner says business will benefit from retrofit scheme  https://m.independent.ie/business/irish/woodies-owner-says-business-will-benefit-from-retrofit-scheme-41379302.html

 

• Dublin scrap metal recycling firm challenges refusal of retention permission  https://www.breakingnews.ie/business/dublin-scrap-metal-recycling-firm-challenges-refusal-of-retention-permission-1264666.html

 

• BAM FM has secured over £8.1 million of new contracts in the energy, housing and education sectors across the UK and Ireland, including a four-year integrated facilities management contract with The Guinness Partnership https://www.pbctoday.co.uk/news/planning-construction-news/bam-fm-series-of-new-contracts/106570/

 

• CRH readies contingency plans for Ukrainian business: Building materials group has biggest Ukrainian exposure of any Irish business https://www.irishtimes.com/business/construction/crh-readies-contingency-plans-for-ukrainian-business-1.4811233

 

• Dublin airport runway builder Roadbridge looks to land equity investor: Strategic review under way as construction giant shakes up management https://www.thetimes.co.uk/article/dublin-airport-runway-builder-roadbridge-land-equity-investor-vk2ndg9vt

 

 

 

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/ * and 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/

 

• Huckletree’s Alpha Accelerator is now accepting applications: This year’s programme, running from 4th April to 30th June, will be curated around Urban Innovation, including mobility and transport, smart data/IoT, environment, and proptech: Details  👉 https://prop-tech.ie/huckletree-smart-cities-accelerator-programme/

 

• The great democratiser: Anthony Rose wants to revolutionise how business founders approach the funding process. For him, necessity has been the mother of invention  https://www.businesspost.ie/connected/the-great-democratiser-anthony-rose-wants-to-revolutionise-how-business-founders-approach-the-funding-process-for-him-necessity-has-been-the-mother-of-invention-53a5ce23

 

• Proptech L Marks accelerator with immediate procurement opportunities with Sodexo https://prop-tech.ie/proptech-accelerator-with-immediate-procurement-opportunities/

 

• Cellnex aims to cover 80% of Ireland with IoT network by end-2022 https://enterpriseiotinsights.com/20220221/internet-of-things/cellnex-aims-new-iot-network-cover-80-ireland-end-2022/amp

 

• Construction News:  Does technology hold the key to better cashflow?  https://www.constructionnews.co.uk/financial/is-tech-the-key-to-cashflow-24-02-2022/

 

• Hemp can be used to make rebar that’s just as strong as steel: This new rebar could help buildings stand longer and create less pollution  https://www.fastcompany.com/90725070/hemp-can-be-used-to-make-rebar-thats-just-as-strong-as-steel

 

• The real estate sector’s resistance to change has prevented proptech’s mass adoption https://reactnews.com/article/procrastinating-over-proptech-is-real-estates-downfall/

 

• PropTech firm to provide ‘alternative’ to portals after securing investment – Findingaplace, the London-based PropTech firm, has broken its £250,000 Seedrs crowdfunding target, raising over £310k from more than 350 investors https://propertyindustryeye.com/proptech-firm-to-provide-alternative-to-property-portals-after-securing-new-investment/ 

 

• A proptech VC bonanza: Camber Creek raises $325M for latest fund https://therealdeal-com.cdn.ampproject.org/c/s/therealdeal.com/2022/02/23/a-proptech-vc-bonanza-camber-creek-raises-325m-for-latest-fund/amp/ 

 

• Knight Frank backs new £116m fund to help grow proptech firms https://thenegotiator.co.uk/knight-frank-backs-new-116m-fund-to-help-grow-proptech-firms/

 

• UK PropTech lead generation platform expands beyond agents  https://www.estateagenttoday.co.uk/breaking-news/2022/2/proptech-lead-generation-platform-expands-beyond-agents?source=newsticker

 

• Agents to get 1,500% return on investment claims PropTech firm  https://www.estateagenttoday.co.uk/breaking-news/2022/2/agents-to-get-1-500-return-on-investment-claims-proptech-firm

 

• IMS Group Continues Its Rapid Expansion by Opening a New Office in London  https://www.businesswire.com/news/home/20220223005592/en/IMS-Group-Continues-Its-Rapid-Expansion-by-Opening-a-New-Office-in-London

 

• Lettings matchmaking website raises £310,000 to eradicate Rightmove: Some 350 people have invested in Findingaplace.com which marries up tenants to agency’s rental listings without the need for a portal https://thenegotiator.co.uk/lettings-matchmaking-website-raises-310000-to-eradicate-rightmove/

 

• UK engineers have developed a new vaulted-style, thin-shell concrete floor that uses 75% less material than a traditional flat slab floor. https://www.constructionenquirer.com/2022/02/21/pioneering-vaulted-thin-shell-floor-cuts-concrete-by-75/

 

• Pacaso’s earnings reveal explosive growth for market’s fastest proptech unicorn – Proptech unicorns had a banner year in 2021. Venture capitalists poured $9.5 billion into the proptech market, the most ever raised in any year to date  https://finledger.com/2022/02/24/pacasos-earnings-reveal-explosive-growth-for-markets-fastest-proptech-unicorn/

 

• What Is The Future Of Crypto And Proptech In Miami?  https://www.bisnow.com/south-florida/news/commercial-real-estate/crypto-miami-bisnow-studiob-111882

 

• Showdigs Secures $7.4M In Seed II Round; Furthering Its Revolution Of The Entire Single-Family Leasing Process—On The Heels Of Launching In 4 Major US Markets, The Property Management Software PropTech Startup Is Set To Expand Its Platform Nationwide—  https://www.businesswire.com/news/home/20220214005887/en/Showdigs-Secures-7.4M-In-Seed-II-Round-Furthering-Its-Revolution-Of-The-Entire-Single-Family-Leasing-Process

 

• VC Brendan Wallace of Fifth Wall isn’t quite ready to invest in the metaverse  https://techcrunch.com/2022/02/23/vc-brendan-wallace-of-fifth-wall-isnt-quite-ready-to-invest-in-the-metaverse/

 

• Proptech startup Facilio raises $35 mn from Dragoneer, Tiger Global, others | Business Standard News https://www.business-standard.com/article/companies/proptech-startup-facilio-raises-35-mn-from-dragoneer-tiger-global-others-122022200755_1.html

 

• Black-Led Proptech Venture Firm Wilshire Lane Lands $40 Million for Its First Fund  https://dot.la/black-led-proptech-venture-2656771945.html

 

• Ember Raises $17.4M Led by Peter Thiel to Bring Vacation Home Co-Ownership Mainstream: Proptech startup launches real estate technology platform that enables second home ownership at a fraction of the cost https://www.prnewswire.com/news-releases/ember-raises-17-4m-led-by-peter-thiel-to-bring-vacation-home-co-ownership-mainstream-301489764.html

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• Ires’s full-year revenue grows 6.7% to €79.7m following acquisitions: State’s largest residential landlord sees strong growth from acquisitions and rising rents https://www.irishtimes.com/business/commercial-property/ires-s-full-year-revenue-grows-6-7-to-79-7m-following-acquisitions-1.4809862

 

• State’s biggest landlord says it faces a ‘high risk’ from cost rental plans: Ires Reit has warned investors that the Affordable Housing Act could have negative impact on its revenues https://www.businesspost.ie/houses/states-biggest-landlord-says-it-faces-a-high-risk-from-cost-rental-plans-0950b65a

 

• Build-to-rent debate: What the data says about price, supply and occupancy-BTR homes are politically controversial, with opponents arguing that high rents mean too many remain vacant. However, an analysis of 63 rental developments show this is not the case https://thecurrency.news/articles/74810/the-build-to-rent-debate-what-the-data-says-about-price-supply-and-occupancy-rates/

 

• Dublin city residential rental investment for €8.5m: Smithfield Market portfolio comprises 19 apartments in concierge-serviced scheme https://www.irishtimes.com/business/commercial-property/dublin-city-residential-rental-investment-for-8-5m-1.4806153

 

• Limerick apartment complex is a real ‘bargain’ at €3.75million  https://www.limerickleader.ie/news/home/750187/limerick-apartment-complex-is-a-real-bargain-at-3-75million.html 

 

• Covid savings worth €1bn driving steep increase in house prices; Excess Covid cash could be adding five percentage points to price rises across the property market https://m.independent.ie/business/personal-finance/property-mortgages/covid-savings-worth-1bn-driving-steep-increase-in-house-prices-41378565.html

 

• Stock of second-hand homes for sale now at ‘record low’ https://www.irishtimes.com/business/construction/stock-of-second-hand-homes-for-sale-now-at-record-low-1.4809100

 

• Donegal County Council did not inform the Department of Housing that it was purchasing five mica-affected houses when it secured funding to complete the sale. https://www.irishexaminer.com/news/arid-40813986.html

 

• ‘A dangerous hell’: More women facing sex-for-rent demands in Ireland’s broken housing market: One landlord said he wanted photos of a prospective tenant and her future housemates before giving them an appointment to view his property  https://www.irishexaminer.com/news/spotlight/arid-40811967.html

 

• Landlord ordered to pay former tenant €7,500 for refusing to accept HAP: Family went into arrears on their utility bills to make sure they kept their tenancy https://www.irishtimes.com/news/crime-and-law/landlord-ordered-to-pay-former-tenant-7-500-for-refusing-to-accept-hap-1.4811081

 

• Cork landlord seeking €5k upfront from students: Practice a ‘total breach’ of Residential Tenancies Board rules, Oireachtas committee hears  https://www.irishexaminer.com/news/politics/arid-40815684.html

 

• A landlord’s life: ‘On the darker days I’ve been spat at and threatened with a knife’: Numbers don’t add up for small landlords who are exiting the market https://www.irishtimes.com/life-and-style/homes-and-property/a-landlord-s-life-on-the-darker-days-i-ve-been-spat-at-and-threatened-with-a-knife-1.4810195

 

• Sinn Féin rules out pressuring Central Bank on mortgage rules  https://www.irishexaminer.com/news/politics/arid-40813299.html

 

• Rising rates: Mortgage holders should act now to protect themselves: Switching could bring big savings, especially since your home has risen in value https://www.irishtimes.com/business/personal-finance/rising-rates-mortgage-holders-should-act-now-to-protect-themselves-1.4806031

 

• Fresh start – new proposals to treat divorced and separated couples as first-time buyers  https://m.independent.ie/business/personal-finance/property-mortgages/fresh-start-new-proposals-to-treat-divorced-and-separated-couples-as-first-time-buyers-41387049.html

 

• Rightsizing: lateral thinking leads to the perfect home – Instead of simply downsizing to a cheaper option, canny buyers are opting for low-hassle, sustainable houses and apartments that are a better fit for their needs https://www.businesspost.ie/property-insight/rightsizing-lateral-thinking-leads-to-the-perfect-home-6e487e9a

 

• Ever-rising house prices is leading to the flight of the middle-class constituency: The fact that many middle-income voters do not see home ownership as achievable indicates the disconnect between income growth and the grievances that people feel https://www.businesspost.ie/houses/aidan-regan-ever-rising-house-prices-is-leading-to-the-flight-of-the-middle-class-constituency-082a4784

 

• ‘Slowly everyone I know is feeling pressured out of this once affordable city’: Activists in Cork city call for increased efforts to be made to address the housing crisis https://www.irishtimes.com/news/ireland/irish-news/slowly-everyone-i-know-is-feeling-pressured-out-of-this-once-affordable-city-1.4813203

 

 

• Concerns raised that new retrofitting scheme could see landlords evicting tenants  https://m.independent.ie/news/concerns-raised-that-new-retrofitting-scheme-could-see-landlords-evicting-tenants-41380757.html

 

• Sale price of Chris de Burgh’s house drops 21% to €9.85m: Singer’s Enniskerry mansion first came to the market in 2019 seeking €12.5m https://www.irishtimes.com/life-and-style/homes-and-property/sale-price-of-chris-de-burgh-s-house-drops-21-to-9-85m-1.4809976 (pictured)

 

• Can I use my vacant holiday homes for housing without planning? Property Clinic: Strict regulations govern the change of use of a development  https://www.irishtimes.com/life-and-style/homes-and-property/can-i-use-my-vacant-holiday-homes-for-housing-without-planning-1.4806007

 

• Unlike Dermot Bannon’s design choices, Room To Improve will never go out of fashion: TV review: Episode one of a new series follows parents doing everything they can for a child  https://www.irishtimes.com/culture/tv-radio-web/unlike-dermot-bannon-s-design-choices-room-to-improve-will-never-go-out-of-fashion-1.4807620

 

• Amazing small spaces: Architects’ tricks to maximise cosy homes  https://www.irishtimes.com/life-and-style/homes-and-property/interiors/amazing-small-spaces-architects-tricks-to-maximise-cosy-homes-1.4811313

 

• Take the tour of one of Ireland’s ‘most desirable’ mansions for sale for €1.85m  https://www.tipperarylive.ie/news/property/749534/pictures-take-the-tour-of-one-of-ireland-s-most-desirable-mansions-for-sale-for-1-85m.html

 

• Online auctions provide a faster sales process, IAM Sold boss says: The auction house has two sales coming up on Thursday, March 10 and Thursday, April 14 https://www.businesspost.ie/commercial/online-auctions-provide-a-faster-sales-process-iam-sold-boss-says-a953250d

 

 

 

COMMERCIAL PROPERTY NEWS

• Hybrid working enters a new dimension: the third space: Firms may include independent work spaces as part of benefits packages to retain staff https://www.irishtimes.com/business/work/hybrid-working-enters-a-new-dimension-the-third-space-1.4807564

 

• Grafton Street loses €228m in value since start of pandemic: Street continues to struggle with high vacancy rates and sluggish return of shoppers  https://www.irishtimes.com/business/commercial-property/grafton-street-loses-228m-in-value-since-start-of-pandemic-1.4803157

 

• Russell & Bromley, a luxury British footwear and handbag retailer, whose shoes are often worn by Kate Middleton, is in talks to open a shop on Grafton Street. https://www.thetimes.co.uk/article/russell-bromley-grafton-street-store-dublin-wqchmwmxz

 

• Ikea opens new design outlet in St Stephen’s Green Centre: The furniture giant’s studio forms part of several new short-term licence agreements agreed by high-profile occupiers at the Dublin 2 shopping centre https://www.businesspost.ie/commercial/ikea-opens-new-design-outlet-in-st-stephens-green-centre-c18ba296

 

• Judge to visit Bewley’s to see removal and reinsertion of Harry Clarke windows  https://www.breakingnews.ie/amp/ireland/judge-to-visit-bewleys-to-see-removal-and-reinsertion-of-harry-clarke-windows-1264342.html

 

• No recovery expected in Dublin office rents until 2024: Biggest delivery of space since financial crisis and slower take-up following Covid is driving up vacancy levels https://www.irishtimes.com/business/commercial-property/no-recovery-expected-in-dublin-office-rents-until-2024-1.4807932 (Pictured)

 

• Iput to invest in forestry to offset carbon emissions from office blocks: Company partnering with A&L Goodbody to create Ireland’s most sustainable building https://www.irishtimes.com/business/commercial-property/iput-to-invest-in-forestry-to-offset-carbon-emissions-from-office-blocks-1.4807474

 

• €105m sought for Dublin docklands office building: Central Bank looks to offset €205m pre-pandemic purchase of Dublin Landings blocks https://www.irishtimes.com/business/commercial-property/105m-sought-for-dublin-docklands-office-building-1.4809174

 

• Holiday Inn at Dublin Airport shuts after seven months to become asylum centre: One of largest hotels in the city, the 421-bed JMK-owned property cost €50m to build  https://www.irishtimes.com/business/transport-and-tourism/holiday-inn-at-dublin-airport-shuts-after-seven-months-to-become-asylum-centre-1.4808471

 

• Citywest development site portfolio guiding at €2.5m: Lake Drive lands comprise a total of 5.3 acres distributed across three plots https://www.irishtimes.com/business/commercial-property/citywest-development-site-portfolio-guiding-at-2-5m-1.4805314

 

• Deka buys first assets in Dublin and Madrid for new special fund https://www.property-magazine.eu/deka-buys-first-assets-in-dublin-and-madrid-for-new-special-fund-60505.html

 

• A TO let sign was erected at the former ABB property on the Belgard Road in Tallaght in recent days, following on from An Bord Pleanála’s ruling that plans for 380 apartments at the site required “further consideration/ amendment”.  https://www.echo.ie/abb-property-gone-on-rental-market-as-an-bord-pleanala-makes-ruling/

 

• Rainmaker Michael Casey keeps Holland & Barrett in rude health https://www.thetimes.co.uk/article/rainmaker-michael-casey-keeps-holland-barrett-rude-health-comment-l5cn8mcsr

 

• Direct provision sees State prop up swathe of Irish hotels – Caveat: State asylum system readies for €500m splurge before decommissioning https://www.irishtimes.com/business/direct-provision-sees-state-prop-up-swathe-of-irish-hotels-1.4811332

 

• Waterloo Road guesthouse on the market for €5m: The upmarket Georgian townhouse, next to the Grand Canal in Ballsbridge, is available with vacant possession and with period features intact https://www.businesspost.ie/commercial/waterloo-road-guesthouse-on-the-market-for-eur5m-f722a9ed

 

• Landmark Dublin pub The Big Tree reopens after remodelling  https://www.breakingnews.ie/business/landmark-dublin-pub-the-big-tree-opens-after-remodelling-1264674.html

 

• Dublin Town seeks to renew contract despite €4m arrears: The promotional company must now be voted back in by city centre businesses, but the margin of approval has narrowed in recent years https://www.businesspost.ie/business/dublin-town-seeks-to-renew-contract-despite-eur4m-arrears-6e9a66c6

 

• Munster cities and regions dominate European FDI rankings; Cork, Limerick, Shannon and the South East all rank favourably for investment  https://www.irishexaminer.com/business/economy/arid-40813575.html

 

• Port of Cork seeks vacant possession of centre used for milk powder storage: Masterlink Logistics leased buildings to store products for Irish Dairy Board  https://www.irishtimes.com/business/commercial-property/port-of-cork-seeks-vacant-possession-of-centre-used-for-milk-powder-storage-1.4808289

 

• Pints to flow again as two Galway City pubs change hands  https://connachttribune.ie/pints-to-flow-again-as-two-galway-city-pubs-change-hands/

 

• Kildare’s newest co-working hub opens in Naas: The former night club — Time: Bar + Venue — has been transformed into a hi-tech virtual and hybrid facility  https://www.kildarenow.com/news/home/749810/kildare-s-newest-co-working-hub-opens-in-naas.html

 

• Brian Ormond opens premium footwear store in Kildare Village: Movrs was co-founded by the TV presenter and their first store opened on Harry Street last November https://www.dublinlive.ie/whats-on/brian-ormond-opens-premium-footwear-23159776

 

• €2m upgrade to Kildare hotel will create 50 new jobs https://www.kildarenow.com/news/home/751947/latest-2m-upgrade-to-kildare-hotel-will-create-50-new-jobs.html 

 

• Revealed: Former public house in Tipperary to go under the hammer for €65,000  https://www.tipperarylive.ie/news/home/746521/revealed-former-public-house-in-tipperary-to-go-under-the-hammer-for-65-000.html

 

• Nearest hotel to Ireland West Airport in Knock on sale for €1m  https://m.independent.ie/business/commercial-property/nearest-hotel-to-ireland-west-airport-in-knock-on-sale-for-1m-41377978.html

 

• Investor tees up purchase of Ballybunion hotel  https://www.limerickleader.ie/news/home/750644/investor-tees-up-purchase-of-ballybunion-hotel.html

 

• Owners of long vacant Brady’s Pub in The Faythe issued with derelict site notice https://m.independent.ie/regionals/wexford/news/owners-of-long-vacant-bradys-pub-in-the-faythe-issued-with-derelict-site-notice-41374272.html

 

• The Nesbitt Arms in Ardara is for sale: Established in 1838, the hotel comprises of 49 bedrooms, the Weavers Ballroom and the Conal Haughey Suite. The hotel which is a Fáilte Ireland 3-star and has been totally refurbished in recent times https://www.donegallive.ie/news/property/753904/the-nesbitt-arms-in-ardara-is-for-sale.html

 

• Irish aparthotel operator Staycity has announced that it has opened a new-build property at Germany’s Frankfurt Airport, which is its third opening in 2022, bringing its total apartment count up to 5,000.  https://www.hospitalityireland.com/amp/hotel/irish-aparthotel-operator-staycity-opens-property-at-frankfurt-airport-164876

 

• ‘Commercial no-brainer’: why the role of happiness officer is taking off: As UK firms try to reap the benefits of employees who feel cared for, a new job is rising to prominence  https://www.theguardian.com/lifeandstyle/2022/feb/25/commercial-no-brainer-why-role-of-happiness-officer-is-taking-off

 

INTERNATIONAL PROPERTY NEWS

• The Guardian view on unaffordable homes: building injustice into the economy  https://www.theguardian.com/commentisfree/2022/feb/21/the-guardian-view-on-unaffordable-homes-building-injustice-into-the-economy

 

• Laing O’Rourke decarbonises bids with new carbon calculator  https://www.constructionenquirer.com/2022/02/21/laing-orourke-decarbonises-bids-with-new-carbon-calculator/

 

• Number of self-employed workers in UK construction hits 18-year low as skills shortage bites  https://www.constructionnews.co.uk/skills/number-of-self-employed-workers-hits-18-year-low-as-skills-shortage-bites-22-02-2022/

 

• Construction rebuilds to meet demand as supply crisis eases https://www.thetimes.co.uk/article/construction-rebuilds-to-meet-demand-as-supply-crisis-eases-3j55rd32l 

 

• Australia news: ‘Not in good shape’: more construction industry collapses could follow Probuild – Soaring costs and Covid disruptions have hammered the sector, experts say, and governments show little sign of stepping in  https://www.theguardian.com/australia-news/2022/feb/25/not-in-good-shape-more-construction-industry-collapses-could-follow-probuild

 

• Shangri-La Shougang Park: industrial building turned fantastical hotel. Lissoni & Partners has designed Shangri-La Shougang Park, a new hotel in Beijing that reimagines industrial architecture for the hospitality world  https://www.wallpaper.com/architecture/shangri-la-shougang-park-lissoni-and-partners-beijing-china (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/