Weekly Irish property market news and insights – for the industry, by the industry
*First up today, I am delighted to announce the opening of Property District West in County Galway, a second office to accommodate the growing team and to complement our Dublin-based offering. All marketing and communications, including placemaking and social media management will be available through both English and Irish language. Email info@propertydistrict.ie to discuss further!*
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:
- Change is coming but business far from ready for its challenges or opportunities: Climate change regulations and cybersecurity are the two key issues facing Irish companies but the majority are ill-prepared for dealing with the new requirements https://www.businesspost.ie/companies/john-walsh-change-is-coming-but-business-far-from-ready-for-its-challenges-or-opportunities-1d6b9463
- Rent and mortgage crisis driving 300,000 into poverty: The Government’s Affordable Housing Act will only serve to raise house prices rather than make them affordable. Once again the Government has ignored people just above or already below the poverty line, writes Colette Bennett, Economic and Social Analyst with Social Justice Ireland. https://www.irishexaminer.com/opinion/commentanalysis/arid-40777839.html
- Number of homeless people in State passes 9,000: Total of 2,548 children in emergency accommodation in November, figures show https://www.irishtimes.com/news/social-affairs/number-of-homeless-people-in-state-passes-9-000-1.4771257
- Eoin Burke-Kennedy: Soaring prices and rents but no credit bubble: MyHome report points to bigger loan sizes but credit market remain tightly constrained https://www.irishtimes.com/business/economy/eoin-burke-kennedy-soaring-prices-and-rents-but-no-credit-bubble-1.4768785
- Rental scarcity will underpin investor appetite for Irish apartments in 2022: Funds ready to ramp up residential investment through advance purchases to secure their supply of rental blocks https://m.independent.ie/business/commercial-property/rental-scarcity-will-underpin-investor-appetite-for-irish-apartments-in-2022-41206108.html
- Build-to-rent curbs leave a burden on the state in Ireland https://www.thetimes.co.uk/article/build-to-rent-curbs-leave-burden-state-ireland-comment-t9wm8s56t
- Mica scheme may lead to rise in northwest homelessness, charity warns: Many social and rental homes said to be among estimated 7,500 defective properties https://www.irishtimes.com/news/social-affairs/mica-scheme-may-lead-to-rise-in-northwest-homelessness-charity-warns-1.4767564
- Government set to offer new grant to help people buy derelict properties: Figures from Census 2016 showed there were 183,312 units, excluding holiday homes, vacant across the State in that year https://www.irishexaminer.com/news/politics/arid-40776951.html
- Eirgrid doubles down on ban on new data centres for Dublin area: Applications to build the facilities in the wider Dublin area will not now be accepted until 2028, effectively ensuring a moratorium on them for the rest of the decade https://www.businesspost.ie/energy/eirgrid-doubles-down-on-ban-on-new-data-centres-for-dublin-area-a2d5749a
- Nama forecasts €4.25bn surplus for Exchequer https://www.breakingnews.ie/ireland/nama-forecasts-e4-25bn-surplus-for-exchequer-1238376.html
- How Trinity college’s vast land holdings financed much of its building boom in the 1800s and beyond https://m.independent.ie/business/farming/rural-life/how-trinity-colleges-vast-land-holdings-financed-much-of-its-building-boom-in-the-1800s-and-beyond-41205979.html
- I have a dream… and it could be achieved in Cork by 2025! 150 new trees for Pana, free public transport, the regeneration of North Main Street – these are just some of the things Kathriona Devereux imagines Cork could have by 2025 https://www.echolive.ie/corkviews/arid-40777803.html
- Country strolls under threat of poorly signalled development plans: Sunday walkers taken unawares by bulldozers for vast, hideous building schemes https://www.irishtimes.com/opinion/country-strolls-under-threat-of-poorly-signalled-development-plans-1.4767942
- ‘Rural Ireland has the wind in its sails — Dublin has priced itself out of the market’: Roscommon auctioneer John Earley looks back over the highs and lows of his 42 years in the property business, and assesses the current market trends and future direction of the trade, as he steps back from the front line https://m.independent.ie/business/farming/farm-property/rural-ireland-has-the-wind-in-its-sails-dublin-has-priced-itself-out-of-the-market-41204976.html
- The Irish wind farm industry has said changes to the national grid and the planning process are required if Ireland is to meet the Government’s renewable energy targets of up to 80% of electricity being generated from renewables by 2030 https://amp.rte.ie/amp/1269242/
- Highest ever tax take of €68.4bn – Exchequer returns https://www.rte.ie/news/business/2022/0105/1272020-highest-ever-take-take-of-68-4bn-exchequer-returns/
- Tributes paid after death of colourful Cork civil engineer John V Lennon https://www.irishexaminer.com/news/munster/arid-40777548.html (pictured)
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.
*Our 4th year of broadcast kicks off next Tuesday with an in-depth look at the sustainability initiatives for Irish real estate and construction. In the meantime, listen back to all shows at: https://ipropertyradio.com
Email the Property Matters team at info@propertydistrict.ie
Or watch back: https://youtu.be/O2oqgGgNH2c
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Can the ‘15-minute city’ concept of urban living become a reality for Irish cities?: Are we facing into a new era of compact and easier living or is it destined to flounder https://www.irishtimes.com/culture/art-and-design/visual-art/can-the-15-minute-city-concept-of-urban-living-become-a-reality-for-irish-cities-1.4762126
- DCC urged to demand Moore Street project is built within five years: Submissions, including from Green Party MEP Ciarán Cuffe, express concern about possible delay of redevelopment of historic site https://www.businesspost.ie/Planning/dcc-urged-to-demand-moore-street-project-is-built-within-five-years-223b0cf2
- Lighting upgrade costing €55m could leave Dubliners seeing stars: Orange streets lights so familiar overhead in capital city to be replaced by LEDs https://www.irishtimes.com/news/environment/lighting-upgrade-costing-55m-could-leave-dubliners-seeing-stars-1.4768031?utm_source=newsshowcase&utm_medium=discover&utm_campaign=CCwqGAgwKhAIACoHCAowqfqFCzD7v4MDMO6MMTCY0Tc&utm_content=bullets
- School fundraising for legal challenge to Sandymount apartments overlooking classrooms https://m.independent.ie/regionals/dublin/southside/news/school-fundraising-for-legal-challenge-to-sandymount-apartments-overlooking-classrooms-41208282.html
- Community centre lodges appeal against football club development https://www.echo.ie/community-centre-lodges-appeal-against-football-club-development/
- The Dubs in my life may struggle to get their heads around it, but moving to Naas was best thing we ever did as a family https://m.independent.ie/opinion/comment/the-dubs-in-my-life-may-struggle-to-get-their-heads-around-it-but-moving-to-naas-was-best-thing-we-ever-did-as-a-family-41211046.html
- Despite a pandemic, a variety of projects enhanced Cork city’s liveability in 2021: Great strides in outdoor dining, the ongoing transformation of the city’s quays, a new marina park – 2021 saw lots of developments and 2022 is looking busy too https://www.irishexaminer.com/property/developmentconstruction/arid-40776582.html
- Looking ahead to Cork beyond 2022: Cork is evolving and, with new infrastructure, can embark on a rapid growth trajectory says developer Brian O’Callaghan https://www.irishexaminer.com/property/commercial/arid-40778748.html
- Cork public loving dockland markets: Cork’s market scene has flourished during the pandemic, with two new markets opening in Cork’s docklands. https://www.echolive.ie/corknews/arid-40780155.html
- Cork town’s services risk being overwhelmed by rapid population growth: Carrigtwohill’s population is set to continue surging and may reach 10,000 in just six years https://www.irishexaminer.com/news/munster/arid-40776498.html
- Historic Rothe House Under Threat From Neighbouring Property: dereliction of this site is putting one of Kilkenny’s most iconic buildings under threat. https://kclr96fm.com/kclr-live-historic-rothe-house-under-threat-from-neighbouring-property/
- €21.5m announced for 27 major rural regeneration projects https://m.independent.ie/news/215m-announced-for-27-major-rural-regeneration-projects-41215006.html
- Old schools, cinemas and vacant buildings to be re-vamped into work hubs and community spaces: The aim of the funding is to target dereliction in towns and villages in rural Ireland. https://www.thejournal.ie/regeneration-vacant-buildings-5647601-Jan2022/
- Ballinasloe plan front-loads 2040 population rise to 2028, regulator finds: Planning regulator seeks more compact growth and urban regeneration in plan https://www.irishtimes.com/news/environment/ballinasloe-plan-front-loads-2040-population-rise-to-2028-regulator-finds-1.4769485
- Plans revealed for new sports complex and swimming pool in Limerick town https://www.limerickleader.ie/news/home/713089/plans-revealed-for-new-sports-complex-and-swimming-pool-in-limerick-town.html
- Decision on planning for Adare Bypass and Foynes to Limerick Road due at end of January https://www.radiokerry.ie/news/decision-on-planning-for-adare-bypass-and-foynes-to-limerick-road-due-at-end-of-january-264206
- The other Grand Canal Dock: Overgrown basin could soon be a symbol of renewal and hope: Like many smaller towns, Kilbeggan is battling through the pandemic https://m.independent.ie/irish-news/the-other-grand-canal-dock-overgrown-basin-could-soon-be-a-symbol-of-renewal-and-hope-41204212.html
- Tipperary’s capital town will be ‘transformed’ in the coming years: Request to extend Clonmel Urban Design Plain https://www.tipperarylive.ie/news/home/713093/tipperary-s-capital-town-will-be-transformed-in-the-coming-years.html (pictured)
- “There is no power for change greater than a community discovering what it cares about” https://www.tipperarylive.ie/news/home/714163/a-peaceful-corner-of-tipperary-where-the-community-spirit-seems-second-to-nowhere-else.html
- Community must see benefit from Mayo windfarm development https://www.con-telegraph.ie/2022/01/03/community-must-see-benefit-from-mayo-windfarm-development/
- Planning sought for two telecom masts in Lixnaw https://www.radiokerry.ie/news/planning-sought-for-two-telecom-masts-in-lixnaw-264329
- We built a healing eco-paradise on an Irish bog: A couple who spent 38 years reviving this barren landscape are now looking for new custodians — compost loo included! https://www.thetimes.co.uk/article/we-built-a-healing-eco-paradise-on-an-irish-bog-9b8l3kxj9 (pictured below)
*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
- Time to move from promise to delivery on housing and infrastructure. Opinion: Government strategies changing little on the front line of delivery https://www.irishtimes.com/business/construction/time-to-move-from-promise-to-delivery-on-housing-and-infrastructure-1.4767400
- ‘It was a mad time’: Former IFA president Tom Parlon looks back at the highs and lows of his long and varied career in farming, politics and business https://m.independent.ie/business/farming/news/farming-news/it-was-a-mad-time-former-ifa-president-tom-parlon-looks-back-at-the-highs-and-lows-of-his-long-and-varied-career-in-farming-politics-and-business-41206169.html (pictured)
- A pilot project to revive the ancient craft skills needed to maintain historic monuments and buildings is being expanded across the island of Ireland. https://m.independent.ie/irish-news/bright-sparks-craft-skills-project-expanded-across-island-of-ireland-41206272.html
- Most fast-track housing applications defy local development plans: All but five of 116 Strategic Housing Initiative projects involve ‘material contravention’ https://www.irishtimes.com/business/construction/most-fast-track-housing-applications-defy-local-development-plans-1.4768675
- Builders seek reversal of planning guidelines for bigger apartments: Move to units with more storage and parking criticised on grounds of ‘limited demand’ https://www.irishtimes.com/news/ireland/irish-news/builders-seek-reversal-of-planning-guidelines-for-bigger-apartments-1.4771389
- Planning guidelines: What are cornerstones of builders’ objections? Stipulation for three-bed units and services, and possible build-to-rent curbs trigger ire https://www.irishtimes.com/news/ireland/irish-news/planning-guidelines-what-are-cornerstones-of-builders-objections-1.4771339
- Developers get go-ahead not to include crèches in apartment schemes: A Business Post analysis of all large-scale apartment projects submitted to An Bord Pleanála in 2021 has shown one-third of them would have no childcare facilities https://www.businesspost.ie/houses/developers-get-go-ahead-not-to-include-creches-in-apartment-schemes-30a5567b
- More than €500,000 in building charges paid by Portobello Plaza hotel developers to Dublin City Council: Development contribution and road opening licence mean hotel developers have paid more than €505,000 to build on the site next to the Grand Canal https://www.businesspost.ie/companies/more-than-eur500000-in-building-charges-paid-by-portobello-plaza-hotel-developers-to-dublin-city-council-c1286757
- Inflation costs could rise sevenfold on National Children’s Hospital this year: Rising construction costs mean board of controversial project could have to pay €12m to cover inflation in 2022 https://www.businesspost.ie/health/inflation-costs-could-rise-sevenfold-on-national-childrens-hospital-this-year-b5aec9f4
- Dublin Airport to get €100m investment in new terminal-linked hotel: Project to create 550 jobs as Fingal County Council gives green light to UK group Arora https://www.irishtimes.com/business/innovation/dublin-airport-to-get-100m-investment-in-new-terminal-linked-hotel-1.4770372
- Developer looking to rezone part of Howth Castle estate to build 195 senior-living homes https://m.independent.ie/regionals/dublin/northside/news/developer-looking-to-rezone-part-of-howth-castle-estate-to-build-195-senior-living-homes-41212221.html
- Planning permission granted for 667 apartments in south Dublin despite local opposition: Over 165 objections were lodged against the scheme for the former Jesuit lands at Milltown Park. https://www.thejournal.ie/planning-permission-apartments-dublin-5646903-Jan2022/
- Bartra submits new Bulloch Harbour redevelopment plan: Planning row set to be re-ignited after new plans lodged for Dalkey harbour https://www.irishtimes.com/business/commercial-property/bartra-submits-new-bulloch-harbour-redevelopment-plan-1.4771240
- IPUT poised to put another €250m into Carrickmines https://www.thetimes.co.uk/article/iput-poised-to-put-another-250m-into-carrickmines-s0rznl67r
- Appeals board clears way for 1,097 apartments in three contentious Dublin schemes: Developments located in Ranelagh, Clontarf and Blackrock https://www.irishtimes.com/business/construction/appeals-board-clears-way-for-1-097-apartments-in-three-contentious-dublin-schemes-1.4769581
- Council recommends refusal for €230m Dublin apartment scheme: Plan for 463-unit scheme in Leopardstown faces strong local opposition https://www.irishtimes.com/business/commercial-property/council-recommends-refusal-for-230m-dublin-apartment-scheme-1.4768822
- Glenveagh subsidiary plans almost 100 homes at Killruddery Demesne lands https://m.independent.ie/business/irish/glenveagh-subsidiary-plans-almost-100-homes-at-killruddery-demesne-lands-41201762.html Also: Housebuilder Glenveagh says industry facing ‘extraordinary’ period of rising costs: Glenveagh said it generated total revenue in 2021 of €476m, up from €232m in the previous year which was most heavily disrupted by building site closures due to Covid. https://www.irishexaminer.com/business/companies/arid-40778556.html
- Paddy McKillen jnr firm lodges plans for €200m apartment scheme: Proposal includes 493 apartments on a site between Monkstown and Blackrock https://www.irishtimes.com/business/innovation/paddy-mckillen-jnr-firm-lodges-plans-for-200m-apartment-scheme-1.4770438
- Developers scale back Cobblestone scheme in bid to secure green light: Hotel plan commits to retaining pub in its entirety and creating new performing space https://www.irishtimes.com/business/commercial-property/developers-scale-back-cobblestone-scheme-in-bid-to-secure-green-light-1.4768715
- Dunnes Stores asks appeals board to overturn Monkstown store refusal: Dunnes wants to redevelop its The Outer Spaces outlet https://www.irishtimes.com/business/retail-and-services/dunnes-stores-asks-appeals-board-to-overturn-monkstown-store-refusal-1.4769592
- Separate applications lodged for over 320 new homes in Enniskerry: Developers seek green light for separate projects in the village including 219 units on lands at Kilgarron Hill https://m.independent.ie/regionals/wicklow/news/separate-applications-lodged-for-over-320-new-homes-in-enniskerry-41209495.html
- Changing face of Cork in 2022: Four areas set for major makeover: Works to begin on key development plan projects in 2022 https://www.irishexaminer.com/news/spotlight/arid-40779732.html
- Plans for thousands of new Cork homes under threat due to lack of water facilities: Councillors have warned that unless Irish Water can deliver new and improved water and sewerage infrastructure, the County Development Plan could be a failure https://www.irishexaminer.com/news/munster/arid-40776768.html
- Technical works to begin on developing 400 housing units at Bessborough https://www.irishexaminer.com/news/arid-40780470.html
- UCC plan moves closer for ‘one of Ireland’s largest academic buildings’ in Cork city centre: The site is at the location of a former Brooks Haughton builder’s yard, between Copley Street, Union Quay and South Terrace https://www.irishexaminer.com/news/munster/arid-40777257.html
- Tesco lodges planning application for retail unit in Cork town: The retail giant has lodged a planning application with Cork County Council to develop a 3,739 square metre retail unit on a site on the east of Mill Road and north of Courthouse Road. https://www.echolive.ie/corknews/arid-40777800.html
- Green light for health care centre beside Blarney Castle: Second time in recent weeks that the board has decided not to accept the recommendation of one of its own inspectors https://www.irishexaminer.com/news/munster/arid-40778043.html
- Setback for 250 bed Westside student accommodation plans https://www.galwaydaily.com/news/housing/setback-for-250-bed-westside-student-accommodation-plans/
- Tender issued for construction of new Salmon Weir Bridge in city https://connachttribune.ie/tender-issued-for-construction-of-new-salmon-weir-bridge-in-city/amp/ Also: 200-year-old bridge set for major change as monumental plans move closer to reality: The middle section of the bridge will span the 55-metre width of the river unsupported https://www.galwaybeo.ie/news/galway-news/200-year-old-bridge-set-6438484
- Board Pleanála considering plan to build over 100 homes in Claregalway https://galwaybayfm.ie/galway-bay-fm-news-desk/board-pleanala-considering-plan-to-build-over-100-homes-in-claregalway/
- Consultation on proposal to build over 160 residential units in Ballinasloe https://galwaybayfm.ie/galway-bay-fm-news-desk/consultation-on-proposal-to-build-over-160-residential-units-in-ballinasloe/
- Ireland’s first carbon-neutral building to be constructed in North Tipp https://www.offalyexpress.ie/news/midland-tribune/712896/ireland-s-first-carbon-neutral-building-to-be-constructed-in-north-tipp.html
- Plans for new county town apartments are updated https://www.con-telegraph.ie/2022/01/04/plans-for-new-county-town-apartments-are-updated/
- Plans submitted for new Longford housing development https://www.shannonside.ie/news/plans-submitted-for-new-longford-housing-development-196320
- A new senior citizen housing complex at Trusk Road Ballybofey has moved to tender: The development will see 19 housing units built near The Weavers housing estate on the Trusk Road. https://www.donegaldaily.com/2022/01/02/ballybofey-social-housing-project-goes-to-tender/
- ESB cancels three more contracts to build gas power plants in Dublin: The plants would have had a combined power generation capacity of close to 200MW and were meant to be in place by the end of this year https://www.businesspost.ie/energy/esb-cancels-three-more-contracts-to-build-gas-power-plants-in-dublin-463a0ecd
- An examiner appointed to a construction firm that has been building a planned social housing development in Limerick has so far failed to secure a scheme of arrangement that would see lenders from a crowdfunding platform repaid https://m.independent.ie/business/irish/plan-to-build-social-housing-in-limerick-faces-fresh-uncertainty-over-funding-41212689.html
- Dutch investment giant prepares to take motorway exit: DIF Capital is seeking a buyer for its toll road concessions in Ireland https://www.thetimes.co.uk/article/dutch-investment-giant-prepares-to-take-motorway-exit-67v6r6hn2
- Developer duo agree €14.3m finance deal with Warren Private: Oisín and Phelim O’Connor are sons of Celtic Tiger developer John Flowery O’Connor https://www.irishtimes.com/business/construction/developer-duo-agree-14-3m-finance-deal-with-warren-private-1.4769647
- Elliott Group recently celebrated an impressive milestone at their Windmill residential development site, based in Clonsilla, Dublin, where they held a Topping Out Ceremony in recognition of the hard work and support from their project team https://irishbuildingmagazine.ie/2022/01/04/topping-out-at-windmill/
- Built to last: “We should look for a feeling of belonging but also a feeling of continuity: Multi-award winning Dublin architect practice O’Donnell + Tuomey recently scooped top honours with an RIAI Gold prize for the Lyric Theatre in Belfast. https://thecurrency.news/articles/70164/built-to-last-we-should-look-for-a-feeling-of-belonging-but-also-a-feeling-of-continuity/
- Grafton closes sale of traditional merchanting business in Britain: Company plans to develop Selco branch network and other specialist businesses https://www.irishtimes.com/business/construction/grafton-closes-sale-of-traditional-merchanting-business-in-britain-1.4768422
- Eddie McGillycuddy started his business Glencar Construction with £50,000 in 2016. This year, it’s targeting a turnover of £400m (€480m). https://m.independent.ie/business/glencars-phenomenal-growth-owes-much-to-the-problem-solver-from-the-kingdom-41217820.html
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: *PROPTECH INNOVATORS and STARTUPS *
- Irish-founded Deposify sold to US private equity firm: ‘Escrow as a service’ platform established in 2014 https://www.irishtimes.com/business/technology/irish-founded-deposify-sold-to-us-private-equity-firm-1.4770551
- Nick Erasmus, Technical Director, Real Data Systems, has a vision for creating an ecosystem where SMEs can access the digital workflows they require for competitive edge. https://irishbuildingmagazine.ie/2022/01/04/accelerating-digital-maturity-for-smes/ (pictured)
- DCU institute collaborates with Wexford council in unveiling of AI tech to explore smart tourism and public engagement https://www.engineersireland.ie/Engineers-Journal/News/dcu-institute-collaborates-with-wexford-council-in-unveiling-of-ai-tech-to-explore-smart-tourism-and-public-engagement
- PropTech: Property Technology, the New Frontier in Real Property, Part 1: Introduction https://mcmillan.ca/insights/proptech-property-technology-the-new-frontier-in-real-property-part-1-introduction/
- What’s Next For Proptech In 2022? More Investment In Construction, Optimizing For The Gen Z Renter, And M&A https://news.crunchbase.com/news/proptech-startups-vc-investment-forecast-2022/
- JLL acquires proptech company Hank: AI-powered platform to help JLL clients operate more sustainably with improved energy efficiency, air quality and tenant comfort https://www.us.jll.com/en/newsroom/jll-acquires-proptech-company-hank
- Proptech startup Square Yards plans to go public https://www.livemint.com/companies/start-ups/proptech-startup-square-yards-plans-to-go-public-11641151905957.html
- Proptech Findingaplace, a Platform Streamlining Rental Search Experience, Acquires £221K+ via Seedrs https://www.crowdfundinsider.com/2022/01/185128-proptech-findingaplace-a-platform-streamlining-rental-search-experience-acquires-221k-via-seedrs/
- Something to build on: founders on the future of construction tech: Covid-19 is helping to push a stubbornly analogue industry into the future https://sifted.eu/articles/construction-tech-europe/
- What 1000-X faster simulation means for digital twins https://venturebeat.com/2022/01/05/what-1000-x-faster-simulation-means-for-digital-twins/
- Real estate in the metaverse is booming. Is it really such a crazy idea? https://theconversation.com/real-estate-in-the-metaverse-is-booming-is-it-really-such-a-crazy-idea-174021
- Investors gear up for ‘gold rush’ in metaverse hardware: Theory is that people will spend ever longer periods in virtual worlds https://www.irishtimes.com/business/technology/investors-gear-up-for-gold-rush-in-metaverse-hardware-1.4769267
- I Spent Hundreds of Hours Working in VR. Here’s What I Learned: This is how it feels in the future Mark Zuckerberg promised—disembodied and unaware of my surroundings. https://www.wired.com/story/hours-working-vr-tips/
- 12 predictions about the trends that will shape smart cities in 2022: As local leaders continue to adapt to the tremendous changes that the past year brought, industry experts share how they anticipate cities will evolve. https://www.smartcitiesdive.com/news/12-predictions-about-the-trends-that-will-shape-smart-cities-in-2022/616439/
- Amazon launches Sidewalk Bridge Pro devices to expand IoT connectivity to factories, farms and forests https://siliconangle.com/2022/01/06/amazon-launches-sidewalk-bridge-pro-devices-expand-iot-connectivity-factories-farms-forests/
- PropTech boom for agents as popular lettings platform is snapped up https://www.lettingagenttoday.co.uk/breaking-news/2022/1/proptech-boom-for-agents-as-popular-lettings-platform-is-snapped-up
- MooveGuru Tech Franchise Sold in 20 States in First 180 Days — RISMedia https://www.rismedia.com/2022/01/07/mooveguru-tech-franchise-sold-20-states-180-days/
- Presidio Property Trust up after its Proptech SPAC IPO (NASDAQ:SQFT) | Seeking Alpha https://seekingalpha.com/news/3786214-presidio-property-trust-up-after-its-proptech-spac-floats-ipo
- Metrospaces, a proptech company powered by Dallas-based Shokworks, launched a beta version of its MetroCrowd platform today. In August, Metrospaces announced its HQ2 in Deep Ellum https://dallasinnovates.com/metrospaces-launches-beta-version-of-its-metrocrowd-proptech-platform/
- Proptech firm Entrata’s chairman resigns after anti-vax conspiracy email: Ex-CEO David Bateman blamed Jews for “sadistic effort underway to euthanize” Americans https://therealdeal.com/2022/01/05/proptech-firm-entratas-chairman-resigns-after-anti-vax-conspiracy-email/
RESIDENTIAL PROPERTY NEWS (including PRS)
- Property transactions up by a quarter last year https://m.independent.ie/business/personal-finance/property-mortgages/property-transactions-up-by-a-quarter-last-year-41218034.html
- Spend on residential property topped €18.5bn last year https://www.rte.ie/news/business/2022/0107/1272449-spend-on-residential-property-topped-18-5bn-last-year/
- The Sunday publishes its annual Dublin Property Price Guide 2022 — a feverish housing market reacts to the pandemic effect https://www.thetimes.co.uk/article/dublin-property-price-guide-2022-a-feverish-housing-market-reacts-to-the-pandemic-effect-9ttppdg2b
- Dublin 6 house prices 2022 — new calm breeds confidence https://www.thetimes.co.uk/article/dublin-6-house-prices-2022-new-calm-breeds-confidence-vqxxpzdfn
- Dublin 24 house prices 2022 — schools and transport help make sales strong https://www.thetimes.co.uk/article/dublin-24-house-prices-2022-schools-and-transport-help-make-sales-strong-99gw6l5nq
- Ireland’s largest private landlord to buy 152 apartments for €66m https://m.independent.ie/business/commercial-property/irelands-largest-private-landlord-to-buy-152-apartments-for-66m-41210195.html Also: Ireland’s biggest private landlord eyeing up expansion to cities across the country: Ires Reit currently owns close to 4,000 units in Dublin: ‘We see opportunities to grow in the likes of Cork, Limerick, Galway,’ says chief executive Margaret Sweeney https://m.independent.ie/business/irish/irelands-biggest-private-landlord-eyeing-up-expansion-to-cities-across-the-country-41212683.html
- Property giant seeks permission for mural on protected structure to stop ‘unlawful graffiti’ https://www.breakingnews.ie/ireland/property-giant-seeks-permission-for-mural-on-protected-structure-to-stop-unlawful-graffiti-1239233.html
- UK interest in Limerick apartments valued at €2.15million https://www.limerickleader.ie/news/home/716233/uk-interest-in-limerick-apartments-valued-at-2-15million.html
- Bumper year for Ireland’s country house market: 2021 the strongest year for high end country home sales since 2006, says specialist Michael H Daniels https://www.irishexaminer.com/property/residential/arid-40778646.html
- An adapting market: Activity in the property market survived the pandemic, but the long-term picture still remains unclear https://www.irishexaminer.com/property/commercial/arid-40778772.html
- House prices across Ireland are almost 10% higher than they were a year ago: Analysis by Davy and Myhome.ie shows that house prices are now seven times average incomes. https://www.thejournal.ie/myhome-ie-report-house-prices-2022-5644942-Jan2022/?amp=1
- House prices at 7 times income as supply dwindles https://amp.rte.ie/amp/1269659/
- The pandemic has neither killed nor cured the property market. It’s as dysfunctional as ever: Pending a surge in supply, 2022 is going to be another rocky year https://www.irishexaminer.com/property/residential/arid-40775868.html
- Building momentum for Ireland’s home hunters: As 2022 gets in gear, there is a robust plan, strong momentum, and political endeavor regarding housing, says Sherry FitzGerald’s Paul Hannon https://www.irishexaminer.com/property/residential/arid-40778679.html
- Hard-pressed homebuyers being charged €2,000 more than Eurozone average for mortgages https://m.independent.ie/business/personal-finance/property-mortgages/hard-pressed-homebuyers-being-charged-2000-more-than-eurozone-average-for-mortgages-41214823.html
- Plans to widen eligibility criteria for mortgage-to-rent scheme: Move will allow people living in higher value houses and more older people to take part https://www.irishtimes.com/news/ireland/irish-news/plans-to-widen-eligibility-criteria-for-mortgage-to-rent-scheme-1.4768689
- Social housing plan below Govt targets – Council https://amp.rte.ie/amp/1272152/
- Clock ticking as one in five have NOT paid property tax https://amp.extra.ie/2022/01/07/property/property-tax-not-paid
- Revealed: 380,000 defy Revenue rules by failing to update property tax home values https://m.independent.ie/business/personal-finance/tax/revealed-380000-defy-revenue-rules-by-failing-to-update-property-tax-home-values-41219768.html
- Offaly Sees Highest Rise In Median House Prices In Leinster Last Year https://www.midlands103.com/news/midlands-news/offaly-sees-highest-rise-in-median-house-prices-in-leinster-last-year/
- Repair costs for social homes in the county increase by 50% https://www.radiokerry.ie/news/repair-costs-for-social-homes-in-the-county-increase-by-50-264298
- Q&A: Am I eligible for the local authority home loan scheme? https://www.irishexaminer.com/news/arid-40777578.html
- Government to CPO thousands of properties as part of crackdown on vacant homes: Many families “like to be able to have a stab at owning one of those properties”, the housing minister said. https://www.irishexaminer.com/news/politics/arid-40776792.html
- Peter McVerry Trust seeks derelict houses in towns and villages across the country https://www.limerickleader.ie/news/national-news/714357/peter-mcverry-trust-seeks-derelict-houses-in-towns-and-villages-across-the-country.html
- ‘Grim picture’ for prospective buyers as Kilkenny property prices rise by €2,500 in Q4: Median asking price for a property in the county now €225,000 https://www.kilkennypeople.ie/news/home/714879/grim-picture-for-prospective-buyers-as-kilkenny-property-prices-rise-by-2-500-in-q4.html
- Just not enough houses to meet the demand in Sligo: The Latest housing figures show that prices are rising in Sligo. Stephen Holland speaks to local auctioneers, Tommy Breheny and Ken Draper about recent trends in the market, the lack of newly built homes, and how the Covid-19 pandemic has changed where people are choosing to live. https://m.independent.ie/regionals/sligochampion/news/just-not-enough-houses-to-meet-the-demand-in-sligo-41205603.html
- When and why did ‘flats’ become ‘apartments’ in Ireland? When words are being manipulated, something is being obscured. In this case, it is the loss of a sense of community https://www.irishtimes.com/opinion/fintan-o-toole-when-and-why-did-flats-become-apartments-in-ireland-1.4767900
- New to the market: Grainne Rothery’s pick of the properties available to buy in Ireland this week https://www.thetimes.co.uk/article/new-to-the-market-6g7g0nvmn
- Escape to the country… through the pages of a design book: ‘Pastoral style is no longer about the rigour of nominalism. It’s nostalgic and eclectic’ https://www.irishtimes.com/life-and-style/homes-and-property/interiors/escape-to-the-country-through-the-pages-of-a-design-book-1.4756152
- Wish List: All the coolest colours, couches and Irish products : Esther N McCarthy looks at ways to incorporate the Colours of the Year into your interiors along with distinctive Irish products https://www.irishexaminer.com/property/homeandoutdoors/arid-40769472.html (pictured)
- How to Choose the Front Door of a House? https://www.archdaily.com/974423/how-to-choose-the-front-door-of-a-house
- Want to Bring an Old Home Into the Modern World? Here’s Where to Start: An architectural historian tells us all about unlocking the hidden potential in timeworn abodes https://www.architecturaldigest.com/story/how-to-bring-an-old-home-into-the-modern-world
- Ten half-buried houses hidden from the outside world https://www.dezeen.com/2022/01/07/buried-houses-hidden-underground/
COMMERCIAL PROPERTY NEWS
- Dublin office leasing hit pandemic high in Q4 2021 – report: Property dealer CBRE says easing curbs boosted demand for commercial buildings https://www.irishtimes.com/business/commercial-property/dublin-office-leasing-hit-pandemic-high-in-q4-2021-report-1.4770434
- A nursing home boom: The age-old business of caring attracted a corporate cash pile of €600m in 2021 https://www.thetimes.co.uk/article/a-nursing-home-boom-8rfzm0x26
- Four Irish Restaurant Properties Hit The Market https://www.hospitalityireland.com/amp/restaurant/four-irish-restaurant-properties-hit-the-market-4-157439
- Drayton House Holdings, the company behind Oliver St John Gogarty pub and Blooms hotel in Temple Bar, Dublin, has seen its turnover drop dramatically due to Covid-19 restrictions. https://www.thetimes.co.uk/article/blooms-hotel-owners-see-profits-wither-with-covid-27l85gjwf (pictured)
- A café property in Carrigaline Shoping Centre, Carrigaline, Co. Cork, has hit the market via Behan Irwin & Gosling. https://www.hospitalityireland.com/amp/restaurant/cafe-property-in-co-cork-hits-the-market-157812
- The Cashel Palace Hotel, a lavish five-star hotel in Co Tipperary, will open in March. The hotel offers views of the nearby historic Rock of Cashel. https://www.irishcentral.com/travel/best-of-ireland/cashel-palace-hotel-opens-spring.amp. (Pictured)
INTERNATIONAL PROPERTY NEWS
- UK house sales to first-time buyers reach highest for 19 years: Yorkshire Building Society estimates first-time volumes rose by 35% in 2021 despite strong price growth https://www.theguardian.com/money/2022/jan/04/uk-house-sales-first-time-buyers-highest-nearly-20-years
- Agency selling properties for free rolls out across the UK https://propertyindustryeye.com/agency-selling-properties-for-free-rolls-out-across-the-uk/
- UK Build to Rent investment hits record high in 2021: UK Build to Rent investments hit a record high in 2021, overtaking 2020 as the previous record year, with the boom set to continue in 2022. https://btrnews.co.uk/uk-build-to-rent-investment-hits-record-high-in-2021/
- England’s office space shrinks by millions of square feet: Workspace declined 2% last year as construction stalled and developers adapted to flexible working https://amp.ft.com/content/8c231f78-82c4-4028-91c4-e091b8c4a3f9 (pictured)
- Developers must pay for removal of dangerous cladding on all flats https://www.thetimes.co.uk/article/9588cc90-7003-11ec-bd56-5d2f9cae1ae5?shareToken=432a94e7a0fd0d91e8338fa516ae9a26
- Movers and shakers: Biggest UK construction and engineering appointments in December 2021 https://www.newcivilengineer.com/latest/movers-and-shakers-biggest-construction-and-engineering-appointments-in-december-2021-04-01-2022/
- Call For Entries: Construction of an Innovation Campus in Saint-Germain-En-Laye https://www.archdaily.com/974451/call-for-entries-construction-of-an-innovation-campus-in-saint-germain-en-laye
- FTC settles with data analytics firm after millions of Americans’ mortgage files exposed – TechCrunch https://techcrunch.com/2022/01/05/ftc-settle-mortgage-files-exposed/
- China Evergrande shares suspended amid reports of demolition order: The property giant has been told to demolish 39 buildings in a high-profile development in Hainan province https://www.theguardian.com/business/2022/jan/03/china-evergrande-shares-suspended-from-trading-in-hong-kong
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/