Sunday Property Round-Up January 17th, 2021

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Irish property market news and insights – for the industry, by the industry  

 

Usually this weekly Property Round-Up is about helping the industry, however, today we need your help please. Our Property District team is growing, we have three roles available at the moment and over the coming months we will be sharing news about our new County Galway office. If you know of potential candidates who are genuinely interesting and interested, please send them our way. In addition to the minimum education/experience levels set out for each role, we hire based on attitude, creatively-strategic thinking, and demonstrable interest in the industry and the world at large. We love to be surprised…

 

 

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:

 

 

  • Average property in Nama worth just €330k:  The average value of property still in Nama is around €330,000, the price of a family home across much of the country. That’s based on new information from Nama chairman Aidan Williams, writing in today’s Irish Independent. He says that the number of borrowers on Nama’s books is now 170, less than a quarter of the original 800 borrowers whose property loans were transferred to the agency. The remaining borrowers have 4,000 loans on 3,000 properties, he said. Separate figures from Nama at the end of the year indicate that the total value of loans still on its books is around €1bn. That suggests a rough €330,000 value per property still under the agency’s controls and the value of loans still owed by each borrower at just under €6m – on average. https://amp.independent.ie/business/small-business/average-property-in-nama-worth-just-330k-39953428.html

 

 

 

 

 

 

  • Over 17,000 jobs lost in Enterprise Ireland firms:  Nearly 16,500 new jobs were created by Enterprise Ireland (EI) backed companies here last year, similar to 2019 levels. But the twin challenges of Covid-19 and Brexit meant when the 17,368 jobs that were lost in Enterprise Ireland client businesses were taken into account, there was a net drop in employment of 872. https://amp.rte.ie/amp/1188854/

 

 

 

 

 

 

 

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

 

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 on iPropertyRadiio.com: Ireland’s First Weekly Property Radio Show & Podcast

 

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

As we embark on our third year of broadcasting, we will be recording in video so – in addition to our regular podcast show – the show can be watched weekly. Our first show of 2021 airs on Tuesday and we will hear from the CIF’s James Benson who will update the construction industry on the current industry shutdown. We will also be joined by IPAV’s Pat Davitt to address Ireland’s estate agents, whose services remain restricted. Finally, we will hear from international proptech and contech (construction technology – apologies, I don’t come up with this ever-expanding industry vocabulary!) expert and Forbes contributor, Angelica Donati.

Produced by Katie Tallon of Hear Me Roar Media. 

 

*Listen back to all shows at: https://ipropertyradio.com/property-matters/

Email the Property Matters team at hello@iPropertyRadio.com

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

 

 

 

 

 

  • DCC to begin construction of white-water rafting facility in autumn: The cost of the controversial project has spiralled from an initial €12m to €25m, according to contract tenders issued last week https://www.businesspost.ie/Planning/dcc-to-begin-construction-of-white-water-rafting-facility-in-autumn-f5690c84

 

 

 

 

 

 

 

 

 

*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*

 

 

 

 

CONSTRUCTION & DEVELOPMENT NEWS

 

 

 

 

 

 

 

  • Tuath Housing to build 1,800 affordable homes this year – The social housing provider is raising its targets after a better than expected performance during the pandemic https://www.businesspost.ie/houses/tuath-housing-to-build-1800-affordable-homes-this-year-ed758d96

 

 

  • Cairn Homes to post lower profits and sales for 2020: Housebuilder Cairn Homes said it closed 743 new home sales during 2020, a decrease on the 1,080 new home sales the previous year. In a trading update, Cairn Homes said it generated total revenues of about €260m for the year, a decreased of €435.3m the previous year.  https://amp.rte.ie/amp/1189381/

 

 

 

 

 

 

 

 

 

  • Developer banks on boom in rental property market:   The backer of the Crown Square scheme in Mervue is planning an increase in the number of apartments in the development following a review of the economic viability of the project. The 345 apartments will specifically target the rental market. Crown Square Developments Ltd, which is operated by developer Padraic Rhatigan, has told Galway City Council that the amended plans will form part of a new planning application to be made directly to An Bord Pleanála under ‘Strategic Housing Development’ legislation. https://connachttribune.ie/developer-banks-on-boom-in-rental-property-market/amp/

 

  • Tender issued for refurbishment of Blackrock Tower in Salthill https://connachttribune.ie/tender-issued-for-refurbishment-of-blackrock-tower-in-salthill/amp/

 

 

 

 

 

 

 

 

 

 

 


PROPTECH, MMC & CONSTRUCTION INNOVATION

 

  • Proptech Ireland is updating the database of 2020 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech  or MMC business sit?  Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *PROPTECH INNOVATORS and STARTUPS *  

 

 

  • Innovation and Best Value –  Ridgeway, The “Go To” Destination for Work at Height https://constructionnews.ie/innovation-and-best-value-ridgeway-the-go-to-destination-for-work-at-height/amp/

 

  • The Increased Importance of Indoor Air Quality Monitoring in 2021: “The conversation around indoor air quality has changed and this is particularly relevant in the workplace as building owners struggle to make places safer for employees…” https://www.sonitussystems.com/news/increased-importance-of-indoor-air-quality-monitoring-in-2021  

 

 

 

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Is This the Most Expensive Two-Bedroom Home for Sale in Ireland? https://extra.ie/2021/01/16/must-see/most-expensive-two-bedroom-home-ireland/amp

 

 

 

COMMERCIAL PROPERTY NEWS

 

 

 

 

 

 

  • Industrial & logistics sector sees spike in demand: “…total take up for 2020 to 276,536 metre squared, which is down 7% compared with 2019 but 5.5% above the 10-year average…” https://amp.rte.ie/amp/1189581/

 

 

 

 

 

  • Prime mixed-use property in College Green guiding €5.2m: No 18-19 is a six-storey over basement mixed-use property built in the 1950s with net internal area of 938 square metres https://www.businesspost.ie/commercial/prime-mixed-use-property-in-college-green-guiding-eur52m-800dd28c

 

 

 

 

 

INTERNATIONAL PROPERTY NEWS

 

 

 

 

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/

 

 

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