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:
- Curious about TikTok for business? Property District has teamed up with Hear Me RoarMedia and award-winning TikTok agency Nonsensical to deliver groundbreaking campaigns for Ireland-based construction and real estate companies. Contact amey@propertydistrict.ie. Also: How TikTok is changing the Dublin housing market: With sneak-peek videos set to trendy soundtracks, TikTok is changing the way houses are sold in Dublin https://www.thetimes.co.uk/article/how-tiktok-is-changing-the-dublin-housing-market-0sd7t5mdx
- Estate agents accuse Daft of ‘abusing its dominant position’ in the market: IPAV has lodged an official complaint that the property website has imposed excessive price increases and ‘refused to engage’ with estate agents https://www.businesspost.ie/news/estate-agents-accuse-daft-of-abusing-its-dominant-position-in-the-market/
- ECB raises interest rate by 0.5 of a percentage point: Era of record low rates comes to an end with first increase in over a decade https://www.irishtimes.com/business/2022/07/21/breaking-ecb-raises-interest-rate-by-05-of-a-percentage-point/
- Housing shortage in capital ‘driving employment abroad’: Dublin Chamber says housing is its ‘top priority’ in Budget 2023, and calls for more investment in urban infrastructure https://www.irishtimes.com/business/2022/07/20/housing-shortage-in-capital-driving-employment-abroad-warning/
- Spending watchdog seeks powers to compel Limerick university to show key report on €8m site purchase: Public Accounts Committee said it needed ‘power of direction’ set down in legislation to force UL to release the tightly held KPMG report https://www.businesspost.ie/news/spending-watchdog-seeks-powers-to-compel-limerick-university-to-show-key-report-on-e8m-site-purchase/
- Mica writs in Donegal to reach 2,000 and cost up to €550m https://m.independent.ie/irish-news/news/mica-writs-in-donegal-to-reach-2000-and-cost-up-to-550m-41862857.html
- Kenny finds own home is built with mica blocks- Ireland manager who backed redress scheme discovers he is personally affected https://www.thetimes.co.uk/article/kenny-finds-own-home-is-built-with-mica-blocks-m28rd9wzb
- Eamon Ryan says sectoral emissions limits to ‘hopefully’ be done by end of month: The targets were first outlined last November in the Climate Action Plan. https://www.thejournal.ie/sectoral-emissions-limits-5819396-Jul2022/
- Ireland’s Celtic Tiger legacy: expensive loans, faulty apartments and Europe’s worst housing crisis: Impact of 2008 meltdown and its belt-tightening aftermath still reverberate https://www.irishtimes.com/business/economy/2022/07/17/irelands-celtic-tiger-legacy-expensive-loans-faulty-apartments-and-the-worst-housing-crisis-in-europe/
- Apartment defects the latest step in a sorry saga: Ever since a fire at West Dublin’s Verdemont in 2002, serious fire safety defects have been discovered in many apartment blocks built between 1991 and 2013. Is the Government willing to finally impose the building regulations needed to tackle the deadly scourge of building defects? https://www.irishexaminer.com/opinion/columnists/arid-40923980.html
- Developer’s case against eight Killiney residents struck out as ‘bound to fail’: Ms Justice Emily Egan said Atlas GP Ltd’s case alleging a breach of champerty and maintenance was ‘bound to fail’ https://www.irishtimes.com/crime-law/courts/2022/07/19/judge-strikes-out-developers-case-against-eight-killiney-residents/
- A cynic’s view: Ireland will be a haven for elites while Europe burns: Our comparatively milder weather may make us a holiday destination of the future for the wealthy https://www.echolive.ie/corkviews/arid-40924766.html
- FactFind: How have other countries regulated Airbnb and what happened when they did? Cities have successfully passed laws restricting Airbnb but it hasn’t always led to more houses and lower rents https://www.thejournal.ie/can-airbnb-regulation-work-5818262-Jul2022/
- Big rise in UK estate and letting agencies suspecting financial crimes – claim https://www.lettingagenttoday.co.uk/breaking-news/2022/7/big-rise-in-agencies-suspecting-financial-crimes–claim
- Bord na Móna reports trebling of operating profit as revenues rise 17%. Chief executive Tom Donnellan attributes performance to climate-focused ‘brown to green’ strategy https://www.irishtimes.com/business/2022/07/20/bord-na-mona-reports-trebling-of-operating-profit-as-revenues-rise-17/
- Planning sought for green hydrogen plant in Mayo https://www.con-telegraph.ie/2022/07/20/planning-sought-for-green-hydrogen-plant-in-mayo/
- *Please take a few moments out to watch this video – Michael Turlin of https://bentleymentalhealth.com is one of the most inspiring people I have met in the construction industry and his openness has helped so many share their own stories about mental health: https://youtu.be/-H1wyWg9uQg
- Not industry related! Dublin’s Dead Zoo comes back to life: ‘You can see how beautiful animals are when they are dead’ https://www.irishtimes.com/culture/2022/07/23/the-dead-zoo-you-can-see-how-beautiful-animals-are-when-they-are-dead/
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
What started as #PropertyMatters, a single 60-minute show on Dublin South FM 93.9FM every Tuesday night, has now evolved into an online station hosting the very best construction, urban planning, property and proptech radio shows and podcasts from around the world. Our new website – produced by Hear Me Roar Media – offers audiences live and recorded access to global built environment content. To have your industry podcast included in the iPropertyRadio line-up, or to contribute as a guest on any of our shows, email the iPropertyRadio team at info@propertydistrict.ie
In the Proptech Hot Seat on iPropertyRadio.com this week I chat to PJ Appleton, co-founder of Bloxspring, about the Proptech European ecosystem – including exciting founders and technologies being funded right now!
Watch back: https://youtu.be/I7dtJsIfGrU
Listen back: https://ipropertyradio.com/proptech-hot-seat/
Produced by Bríd Molloy and Hear Me Roar Media
Listen back to all shows at www.ipropertyradio.com
PLACEMAKING
OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT
- Architecture is about finding ways to open dialogue and bring people together.”Over the years of practising, I have come to realize that the best tool for empowering people is through affordable housing” https://www.dezeen.com/2022/07/18/victor-body-lawson-affordable-housing-interview/
- Ireland leads in remote working offers, says report https://www.siliconrepublic.com/careers/remote-working-ida-ireland-linkedin
- Amazing amenities, green spaces, eco-living: is this the future of the rental market? According to Ben Preece, head of property management firm Hali, the future of the rental market will be lost and won on the battlefield of an ‘amenities war’. And its offering at Hines’s award-winning Cherrywood ‘town centre’ in south Co Dublin sets the bar very high indeed https://www.businesspost.ie/property/amazing-amenities-green-spaces-eco-living-is-this-the-future-of-the-rental-market/
- Dublin’s South William Street to be fully pedestrianised: Move opposed by owners of Brown Thomas Car Park and some other businesses https://www.irishtimes.com/ireland/dublin/2022/07/19/dublins-south-william-street-to-be-fully-pedestrianised/
- Dublin’s Parliament Street to be made ‘traffic free’ for three evenings a week. Council to trial the pedestrian and cycle-only zone on Parliament Street on Thursday, Friday and Saturday evenings from 6.30pm to 11pm https://www.irishtimes.com/ireland/dublin/2022/07/20/dublins-parliament-street-to-be-made-traffic-free-for-three-evenings-a-week/
- Mitchelstown homes to get DIY SOS treatment in ‘Big Build for Ukraine’: Six terraced homes in Kingston College, which date back to 1761, will be renovated and retrofitted. https://www.echolive.ie/corknews/arid-40921472.html
- Plans lodged for new school for Scoil Mhuire in Moycullen https://connachttribune.ie/plans-lodged-for-new-school-for-scoil-mhuire-in-moycullen/amp/
- Study underway to look at linking Woodstock in Kilkenny to the new South East Greenway: A draft feasibility study is currently underway with the aim of preparing a route selection report https://kclr96fm.com/study-underway-to-look-at-linking-woodstock-in-kilkenny-to-the-new-south-east-greenway/
- Town centre in Sallins, Kildare, to be redesigned https://www.kildarenow.com/news/home/863201/town-centre-in-sallins-kildare-to-be-redesigned.html
- Thirty-five social houses developed on derelict or vacant Mayo sites https://www.con-telegraph.ie/2022/07/22/thirty-five-social-houses-developed-on-derelict-or-vacant-mayo-sites/
- Is rural Ireland really dying? What the facts and figures tell us https://www.rte.ie/brainstorm/2022/0720/1311198-rural-ireland-population-cso-census-2022/
- Hopes that vacant-property scheme will breathe life into rural Ireland https://www.agriland.ie/farming-news/hopes-that-vacant-property-scheme-will-breath-life-into-rural-spots/
- Inis Meáin will offer one family the amazing opportunity to live on their scenic island with no rent to pay. The family must have children of a school going age, and also must be open towards learning and engaging with the Irish language. https://www.galwaybeo.ie/news/galway-news/galway-home-offering-free-accommodation-7364391
- €10.5M contract awarded for Killybegs Quay Development https://www.donegaldaily.com/2022/07/18/e10-5m-contract-awarded-for-killybegs-quay-development/
- Work begins on €12.5M Fort Dunree project https://www.donegaldaily.com/2022/07/23/work-begins-on-e12-5m-fort-dunree-project/amp/
- Public’s views sought on variation of local property tax https://highlandradio.com/2022/07/20/publics-views-sought-on-variation-of-local-property-tax/
- 36 hours in Kilkee, Co Clare: It used to take months to sell a house here. Now it’s weeks: Novelist Charlotte Brontë spent her honeymoon at this ‘glorious watering place’ in 1854 https://www.irishtimes.com/life-style/people/2022/07/23/36-hours-in-kilkee-co-clare-it-used-to-take-months-to-sell-a-house-here-now-its-weeks/
- Deem Journal: how can design add value to communities? Founded by Nu Goteh, Alice Grandoit-Šutka and Marquise Stillwell, LA-based publication Deem Journal promotes design as an inclusive and empowering tool for all https://www.wallpaper.com/design/deem-journal-interview-design-add-value-communities
*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
- Construction price inflation is outstripping even runaway consumer prices as the cost of building is rising faster than during the Celtic Tiger, according to the Society of Chartered Surveyors in Ireland (SCSI). The SCSI’s latest Tender Price Index shows commercial construction tender prices increased by 7.5pc in the first half of the year, up from 6pc in the second half of 2021. https://m.independent.ie/business/irish/construction-costs-rise-faster-than-during-the-celtic-tiger-era-41858948.html
- Soaring costs and construction skills shortages threaten housing targets: Analyst says construction costs accelerating at a faster pace than the value of projects https://www.irishtimes.com/business/2022/07/20/soaring-costs-and-construction-skills-shortages-threaten-housing-targets/
- Signs house price inflation is easing but supply will still be challenging: Higher building costs in relation to raw materials and the shortage of workers will hamper a significant increase in new supply https://www.irishexaminer.com/business/economy/arid-40920770.html
- Developers brave rising costs to progress building projects: The most recent figures from CIS show more than 50 residential builds under way, while the government has logged nearly 30,000 commencements in the past year https://www.businesspost.ie/property/developers-brave-rising-costs-to-progress-building-projects/
- Housing shortage in capital ‘driving employment abroad’ — warning: Dublin Chamber said housing is its ‘top priority’ in Budget 2023, calling for more investment in urban infrastructure https://www.irishtimes.com/business/2022/07/20/housing-shortage-in-capital-driving-employment-abroad-warning/
- Over 60% of construction companies struggling to recruit skilled workers – survey https://www.breakingnews.ie/amp/ireland/over-60-of-construction-companies-struggling-to-recruit-skilled-workers-survey-1338225.html
- The Best Ways for Irish Construction to Recruit Top Talent – Property District https://propertydistrict.ie/the-best-ways-for-irish-construction-to-recruit-top-talent/
- New construction finance vehicle targeting projects valued up to €20m: Entity from Earlsfort Capital Partners has closed two transactions with combined value of €25m https://www.irishtimes.com/business/2022/07/20/new-construction-finance-vehicle-targeting-projects-valued-up-to-20m/
- State may part-fund construction of student beds on university campuses: Planning permission for thousands of purpose-built student accommodation shelved due to soaring cost of construction https://www.irishtimes.com/ireland/education/2022/07/18/government-may-fund-student-accommodation-as-concern-grows-over-housing-crisis/
- Who are the architects leading the way in Ireland’s new wave? Following the collapse of the Celtic Tiger… Emmett Scanlon looks at how a new cohort of architects is responding to this still dynamic place https://www.architectsjournal.co.uk/buildings/who-are-the-architects-leading-the-way-in-irelands-new-wave
- Demand for tradespeople soars as 68pc of homeowners plan renovations https://m.independent.ie/business/irish/demand-for-tradespeople-soars-as-68pc-of-homeowners-plan-renovations-41847781.html
- Best-laid plans: How developers are letting sleeping sites lie: Around the country, an estimated 50,000-80,000 planned homes have failed to materialise in spite of being approved https://www.businesspost.ie/news-focus/best-laid-plans-how-developers-are-letting-sleeping-sites-lie/
- Cork developer claims neighbour’s PIA is an ‘abuse of process’: Michael O’Flynn’s dispute with John O’Driscoll over a loan guarantee for a pub is due to reach the High Court tomorrow https://www.businesspost.ie/news/cork-developer-claims-neighbours-pia-is-an-abuse-of-process/
- Irish Water to use capital project funds to plug hole in €1.3bn budget: Utilities regulator will allow use of €704 million set aside for Shannon-to-Dublin pipeline and wastewater plant to cover annual running costs https://www.businesspost.ie/politics/irish-water-to-use-capital-project-funds-to-plug-hole-in-e1-3bn-budget/
- The High Court has extended an injunction preventing an alleged former owner of lands in Co Wicklow earmarked for a data centre from trespassing on the property. https://www.breakingnews.ie/ireland/court-rules-against-former-land-owner-in-rulings-over-lands-earmarked-for-data-centre-1338606.html
- An Bord Pleanála rejects plan by Fitzpatricks for house in Greystones: The Fitzpatricks had sought permission to build a two-storey, four-bedroom house on a site outside the Wicklow town https://www.irishtimes.com/business/2022/07/22/an-bord-pleanala-rejects-plan-by-fitzpatricks-for-house-in-greystones/
- Investor splashes €230m as Irish residential deals continue to flow – Investment manager has purchased two developments https://reactnews.com/article/investor-splashes-e230m-as-irish-residential-deals-continue-to-flow/
- Johnny Ronan closing in on €150m refinance deal in Dublin docklands: Agreement on Spencer Place apartment scheme debt will see Fortress receive significant payment while remaining on board for portfolio’s sale https://www.irishtimes.com/property/commercial-property/2022/07/20/johnny-ronan-closing-in-on-150m-refinance-deal-in-dublin-docklands/
- Tetrarch seeks permission for 142-bedroom hotel at Howth Castle estate: New facility would replace former Deer Park hotel, which closed in 2014 and is now being used to accommodate Ukrainian refugees https://www.irishtimes.com/business/2022/07/20/tetrarch-seeks-permission-for-142-bedroom-hotel-at-howth-castle-estate/
- Dún Laoghaire hospital car park redevelopment gets approval: Council backs reduced plan for 74-unit build-to-rent housing scheme after previous plans for St Michael’s Hospital car park site floundered https://www.irishtimes.com/business/2022/07/18/noel-smyth-wins-approval-on-hospital-car-park-redevelopment/
- Senior living plan submitted for Blackrock rugby club site: Developer Tetrarch bought site for proposed 108-unit build-to-rent scheme from debt-burdened club last year https://www.irishtimes.com/business/2022/07/18/senior-living-plan-submitted-for-blackrock-rugby-club-site/
- Concerns about ‘traffic challenges’ at proposed development site in Cork city: The development would consist of 489 apartments, a 381 sqm crèche, and 4,112 sqm of office space in five blocks of up to eight storeys https://www.echolive.ie/corknews/arid-40922261.html
- Planning granted for controversial housing development on outskirts of Cork city: Residents say infrastructure in the area is “completely inadequate” to cope with the increased volume of cars the development is likely to generate. https://www.echolive.ie/corknews/arid-40924613.html
- Over 140 homes for West Cork as Affordable Housing Scheme development approved: “These schemes will open up the option of entering into an affordable housing purchase… especially where house prices are extremely high like Kinsale & Clonakilty” https://www.corkbeo.ie/news/property/over-140-homes-west-cork-24546287
- Challenge over council’s refusal to extend planning permission for houses it will buy https://www.breakingnews.ie/amp/ireland/challenge-over-councils-refusal-to-extend-planning-permission-for-houses-it-will-buy-1338034.html
- Plans lodged to increase size of Oranmore housing development https://galwaybayfm.ie/galway-bay-fm-news-desk/plans-lodged-to-increase-size-of-oranmore-housing-development/
- New €2.9m. outdoor training centre to open in 2023 https://www.con-telegraph.ie/2022/07/21/new-e2-9m-outdoor-training-centre-to-open-in-2023/
- Dominican Republic-based millionaire, sentenced to prison for tax evasion, has been given the go-ahead to build hundreds of homes in Ireland: DW Raheen Developments Ltd applied to An Bord Pleanála to build 202 houses and 182 apartments in Limerick https://www.businesspost.ie/news/belgian-tax-evader-is-given-green-light-to-build-irish-homes/
- 24 new apartments with balconies planned for Sallins area of Kildare https://www.kildarenow.com/news/home/863287/latest-24-new-apartments-with-balconies-planned-for-sallins-area-of-kildare.html
- Council investigating 25 vacant Kildare homes reported by members of the public https://www.kildarenow.com/news/home/866430/council-investigating-25-vacant-kildare-homes-reported-by-members-of-the-public.html
- First phase of ‘world class’ Westmeath film studio receives planning approval: Mullingar wants to be home to Ireland’s largest film and television production venue on a 460,000 sqft campus https://m.independent.ie/business/irish/first-phase-of-world-class-westmeath-film-studio-receives-planning-approval-41849639.html
- Two Boyle developments get planning permission https://www.boyletoday.com/two-boyle-developments-get-planning-permission/
- Permission granted for major new housing development in Cavan town https://www.northernsound.ie/news/permission-granted-for-major-new-housing-development-in-cavan-town-198637
- Plans lodged for 49 houses in Laois town https://www.leinsterexpress.ie/news/local-news/863154/plans-lodged-for-49-houses-in-laois-town.html
- Tipperary Co Council is set to deliver more than 1,800 housing units – most of them new builds – over the next five years. https://www.nenaghguardian.ie/2022/07/18/council-to-provide-over-1800-homes/
- Energy courses a ‘game changer’ for construction workers: Inishowen Skillnet Network hosting variety of new energy and environmental courses https://www.donegallive.ie/news/local-news/864204/energy-courses-a-game-changer-for-construction-workers.html
PROPTECH, ESG, 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
- Enterprise Ireland promises better support for start-ups after criticism: Confidential report into New Frontiers programme highlighted problems with mentoring with the state agency saying it has made improvements as a result https://www.businesspost.ie/news/enterprise-ireland-promises-better-support-for-start-ups-after-criticism/
- Proptech at Mid-Year: VCs and Principals Weigh In: They see consolidation in the industry and more care in investing ahead — and continued demand, including due to ESG efforts https://commercialobserver.com/2022/07/proptech-future-2022-experts/
- A new construction technology centre has received funding of €5 million to accelerate research and innovation within the construction sector. The centre will be hosted by NUI Galway and the consortium includes Trinity College Dublin, University College Dublin, and University College Cork working with the Irish Green Building Council. In line with the Government’s Housing for All strategy, the new centre will have a particular focus on advancing innovation and productivity in residential construction. A team of researchers from across the Construction Technology Centre consortium, with expertise in the main areas of digital adoption, modern methods of construction and sustainability will be organised under five pillars to address the urgent areas of Productivity, Affordability & Cost; Quality and Safety; Sustainability; Skills and Training; and Collaboration. https://www.breakingnews.ie/amp/ireland/new-construction-technology-centre-receives-e5m-in-state-funding-1338480.html
- Gates opens doors for firm’s vision to turn cement green: Donal O’Riain’s planet-friendly Ecocem is breaking the mould, with help from the Microsoft billionaire https://www.thetimes.co.uk/article/gates-opens-doors-for-firms-vision-to-turn-cement-green-tdmjllbgh
- Tech multinational Cisco sets its sights on making Ennis a ‘smart town’: Cisco’s CDA programme first launched in Ireland in 2018 in support of the nation’s Project Ireland 2040 plan for social, economic and cultural development. https://www.irishexaminer.com/business/economy/arid-40921598.html
- A new Cork-based website allows ‘reliable, trustworthy’ tenants to woo local landlords https://www.yaycork.ie/a-new-cork-based-website-allows-reliable-trustworthy-tenants-to-woo-local-landlords/ Also: Using tech such as Stripe Identity, HomeHak is creating a database of tenants for landlords to choose from. The Irish start-up is aiming to revolutionise the renting market with technology that helps landlords and letting agents match with tenants. https://www.siliconrepublic.com/start-ups/homehak-startup-renting-ireland-tenant-database
- PROCAD – Ireland’s leading provider of design, manufacturing, engineering and construction software solutions has officially re-branded to Symetri. https://www.limerickleader.ie/news/home/863068/limerick-based-procad-becomes-symetri-following-acquisition.html
- ‘It’s a golden era we’re entering into’: Robots aren’t done reshaping warehouses:?Warehouses run by robots without requiring air conditioning or lighting tuned to human needs could arrive in three or four years https://www.irishtimes.com/business/2022/07/21/its-a-golden-era-were-entering-into-robots-arent-done-reshaping-warehouses/
- Top proptech startups you should be following: Last year was a record year for European proptechs, with VCs investing €3.8bn in the market, a 350% increase compared to 2020 https://sifted.eu/articles/top-proptech-startups/
- Mapping Giant Esri Moves Further Into Design-Construction Space: First Esri user conference since 2019 is also first since release of ArcGIS GeoBIM https://www.enr.com/articles/54458-mapping-giant-esri-moves-further-into-design-construction-space
- Proptech: Building and managing a smarter future in a post-COVID-19 world – Lexology https://www.lexology.com/library/detail.aspx?g=6b25a672-717f-4fe3-932e-f351ed81c71a
- U.K.-based proptech Residently raises $5.4M – AIM Group https://aimgroup.com/2022/07/22/british-proptech-company-residently-raises-5-4m-in-funding/
- Proptech platform flush with £5m funding targets UK agent market: In Europe iDWELL already works with the likes of Otto Real Estate in association with Knight Frank or Zurich Real Estate. https://thenegotiator.co.uk/idwell-the-european-digital-property-management-company-is-launching-in-the-uk-after-receiving-around-5million-series-a-investment-from-tech-vc-flashpoint-based-in-london-and-family-office-wecken/
- The Italian Firms Riding the Digital Lending, PropTech Innovation Wave https://www.pymnts.com/real-estate/2022/italian-firms-digital-lending-proptech-innovation/
- As pressure mounts globally to address sustainable, affordable housing needs, proptech company Intelligent City announced it has raised $22 million to advance building automation and robotics in the production of prefabricated mass timber buildings. https://www.reminetwork.com/articles/intelligent-city-advances-building-innovation/ Also: PlaceTech | Timber, robotics and modular come together in Canadian startup https://placetech.net/news/timber-robotics-and-modular-come-together-in-canadian-startup/
- Casavo, an Opendoor-style proptech from Italy, raises $410M to expand its instant buyer platform across Europe https://techcrunch.com/2022/07/19/casavo-an-opendoor-style-proptech-from-italy-raises-410m-to-expand-its-instant-buyer-platform-across-europe/
- Will crypto exchanges transform real estate https://www.westmountmag.ca/will-crypto-exchanges-transform-real-estate/
RESIDENTIAL PROPERTY NEWS (including PRS)
- Figures show buying a home is out of reach for the average worker: Many salaries are not enough to qualify for a mortgage on the average home, particularly in Dublin https://m.independent.ie/irish-news/figures-show-buying-a-home-is-out-of-reach-for-the-average-worker-41861409.html
- Student accommodation crisis: ‘I think it will be worse than ever’: Faced with acute bed shortages, students’ union looks to cut deals with local hotels https://www.irishtimes.com/ireland/education/2022/07/18/student-accommodation-crisis-worse-year-ever-looms/
- Hotels buying up property to house staff due to shortage of accommodation: Redevelopment of derelict and unoccupied buildings should be a priority for Government, says hospitality sector https://www.irishtimes.com/ireland/housing-planning/2022/07/18/hotels-buying-up-property-to-house-staff-due-to-shortage-of-accommodation/
- Landlords and renters in disputes ordered to pay more than €130,000 for breaches of tenancy laws https://m.independent.ie/irish-news/landlords-and-renters-in-disputes-ordered-to-pay-more-than-130000-for-breaches-of-tenancy-laws-41849746.html
- Cork’s first ‘cost rental’ homes to be available at up to 45% less than market value https://m.independent.ie/regionals/corkman/news/corks-first-cost-rental-homes-to-be-available-at-up-to-45-less-than-market-value-41848179.html
- Banks urged to spare variable-rate customers from ECB’s rate rise https://m.independent.ie/business/personal-finance/property-mortgages/banks-urged-to-spare-variable-rate-customers-from-ecbs-rate-rise-41849758.html
- Homeowners warned to expect multiple interest rate rises after ECB hike: Borrowers on trackers facing €57 a month jump in their repayments https://m.independent.ie/business/personal-finance/property-mortgages/homeowners-warned-to-expect-multiple-interest-rate-rises-after-ecb-hike-41859336.html
- Builder entitled to possession of apartment from recovering addict, court rules https://www.breakingnews.ie/ireland/builder-entitled-to-possession-of-apartment-from-recovering-addict-court-rules-1339605.html
- We’re ready to buy our first home but don’t know where or what to look for: Property Clinic: Location trumps all when it comes to buying somewhere to settle down https://www.irishtimes.com/property/residential/2022/07/18/were-ready-to-buy-our-first-home-but-dont-know-where-or-what-to-look-for/
- Dream of running a country-house hotel? One with its own distillery is for sale in Cork https://www.breakingnews.ie/amp/ireland/dream-of-running-a-country-house-hotel-one-with-its-own-distillery-is-for-sale-in-cork-1337970.html
- Property Watch: Laois mansion used to write Gulliver’s Travels on the market https://www.leinsterexpress.ie/news/local-news/864261/property-watch-laois-mansion-used-to-write-gulliver-s-travels-on-the-market.html
- Five homes on view this week: New to the market in Cavan, Waterford, Kilkenny, Dublin 4 and Wicklow https://www.irishtimes.com/property/residential/2022/07/19/five-homes-on-view-this-week/
- The owner of Cabra Castle went ultra modern when designing his own home:The result is an award-winning new-build https://www.thetimes.co.uk/article/the-owner-of-cabra-castle-went-ultra-modern-when-designing-his-own-home-rp9m3dmbv
- Want to save €70,000 on your home renovation? Read this- Works at one 1950s Dublin home included an extension with a kitchen and new bathroom https://www.irishtimes.com/life-style/2022/07/16/how-to-save-money-on-your-renovation/
- An expert’s guide to treasure hunting for second hand home furnishings https://www.image.ie/living/an-experts-guide-to-treasure-hunting-for-second-hand-home-furnishings-456312
COMMERCIAL PROPERTY NEWS
- 506,000 sq ft of Dublin office space was signed in the second quarter of this year across 60 transactions – making it the most active quarter for the number of transactions since the final quarter of 2019. https://www.rte.ie/news/business/2022/0721/1311446-dublin-office-transactions-back-to-pre-pandemic-levels/
- Hybrid Working Plus Value For Money Prompt A Flex Office Profits Revival https://www.bisnow.com/london/news/office/global-flex-office-recovery-uk-113848
- Meta has paused the fitout of Johnny Ronan’s Fibonacci Square development in Dublin as the social media and tech giant re-evaluates its real estate requirements globally https://www.thetimes.co.uk/article/meta-freezes-move-into-new-dublin-hq-dvm3xbvps
- Trio of lenders back Hibernia takeover with €930m financing – Enterprise value of Brookfield’s buy is close to €1.35bn https://reactnews.com/article/trio-of-lenders-back-hibernia-takeover-with-e930m-financing/
- Debenhams store on sale for €52m https://www.thetimes.co.uk/article/debenhams-store-on-sale-for-52m-0ctfntzqr
- Paddy Power to cut outlets as punters move online: Seen & Heard: Debenhams stores on the block; EU to order gas use cut; Dutch buy into Irish electrics group https://www.irishtimes.com/business/2022/07/17/paddy-power-to-cut-outlets-as-punters-move-online/
- Harcourt Street language school sold for €1.446m after keen bidding war: No 26, a protected structure currently in educational use, received a flurry of interest and 25 offers before the deal was sealed https://www.businesspost.ie/property/harcourt-street-language-school-sold-for-e1-446m-after-keen-bidding-war/
- One of Knocknacarra’s biggest employers is set to move across the city, taking with it 350 staff amid concerns of traffic issues in the city. Also this week, councillors sought to address the east-west industry imbalance in the next Development Plan https://connachttribune.ie/aviva-pulls-knocknacarra-offices-for-move-to-ballybrit/
- Landmark Gort pub sells for €20,000 over its asking price https://connachttribune.ie/landmark-gort-pub-sells-for-e20000-over-its-asking-price/amp/
- Future use of landmark Laois building revealed after big revamp https://www.leinsterexpress.ie/news/local-news/864628/future-use-of-landmark-laois-building-revealed-after-big-revamp.html
INTERNATIONAL PROPERTY NEWS
- UK house prices rising, despite slowing demand https://www.globalpropertyguide.com/news-uk-house-prices-rising-despite-slowing-demand-4332
- UK Judge finds for client in landmark cladding case: Building firm Mulalley & Co has been successfully sued for £8m by a housing association over its use of a flammable cladding system in refurbishing tower blocks. https://www.theconstructionindex.co.uk/news/view/judge-finds-for-client-in-landmark-cladding-case
- Return To Office Plods Along As Tenants Vacate Space https://www.bisnow.com/national/news/office/return-to-office-accelerates-slightly-but-that-isnt-filling-the-wide-empty-office-spaces-113899
- Dezeen Agenda newsletter features a cantilevered housing block by BIG and Barcode Architects https://www.dezeen.com/2022/07/19/barcode-architects-big-housing-block-agenda-newsletter/
- Ten apartment blocks that break the mould with unusual shapes https://www.dezeen.com/2022/07/22/apartment-blocks-housing-shapes-architecture-roundup/amp/
- Indonesian islanders sue cement producer for climate damages: Claimants say they are experiencing serious negative impacts and demand Swiss-based Holcim pay compensation https://www.theguardian.com/world/2022/jul/20/indonesian-islanders-sue-cement-holcim-climate-damages
- Abandoned Modernism in Liberia and Mozambique: The Afterlives of Luxury Hotels https://www.archdaily.com/981232/abandoned-modernism-in-liberia-and-mozambique-the-afterlives-of-luxury-hotels
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/