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: 

 

• Delighted to see our charity partners Hometree being recognised for their great work 👏: A west Clare tree-planting charity that’s growing into a movement. The charity is helping  through tree planting and education https://www.businesspost.ie/life-arts/hometree-a-west-clare-tree-planting-charity-thats-growing-into-a-movement/

 

• EU agrees ‘landmark’ 40% quota for women on corporate boards: Binding targets for boardroom gender equality come 10 years after proposals first made https://www.theguardian.com/business/2022/jun/07/eu-agrees-landmark-40-quota-for-women-on-corporate-boards

 

• Boris Johnson has announced plans for extension of the right to buy to people living in properties owned by housing associations.  This is not available in Ireland, should we consider it? https://www.theguardian.com/society/2022/jun/10/tell-us-share-your-views-on-the-right-to-buy-for-housing-association-tenants

 

• High Court challenges brought against planning permission for 1,000 homes in Dublin: The actions relate to planning permission granted by An Bord Pleanála for residential units in Leopardstown and Walkinstown.  https://www.thejournal.ie/high-court-challenges-an-bord-pleanala-dublin-5784989-Jun2022/

 

• Easing of house price growth may be offset by soaring building costs: Signs of a cooling in the market may be undone by the continued rise in the cost of labour and materials  https://www.irishexaminer.com/business/economy/arid-40889651.html

 

• Nama, which was created nearly 13 years ago to take bad property loans off Ireland’s bust banks, said today that its lifetime surplus would now be €4.5bn, up from the €4.25bn it projected last year. https://m.independent.ie/business/irish/nama-surplus-for-taxpayers-will-be-45bn-41736823.html

 

• Nama land with potential for 86,145 homes sold since 2011, but fewer than 11,000 built: Most of land and potential residential units in Dublin, Cork, Kildare, Wicklow, Meath, Galway and Louth  https://www.irishtimes.com/business/economy/2022/06/06/nama-land-with-potential-for-86145-homes-sold-since-2011-but-fewer-than-11000-built/

 

• ‘Time to bang heads together’ at Land Development Agency to tackle housing, says Taoiseach: Ministers to review options for retrofitting old schools and hospitals as housing crisis bites https://www.irishexaminer.com/news/politics/arid-40892000.html

 

• Dublin City Council to spend €125m on ‘turnkey’ homes: The authority has issued the tender for social and affordable units to be acquired from private developers before they are put up for sale  https://www.businesspost.ie/news/dublin-city-council-to-spend-e125m-on-turnkey-homes/

 

• No records kept of Croí Cónaithe meeting with the industry:  The Croí Cónaithe payments aim to bridge the gap between the cost of constructing apartments and the actual market price achievable. https://www.businesspost.ie/news/no-records-kept-of-croi-conaithe-meeting-with-industry-lobbyists/

 

• Housing is government’s ‘biggest failure’, Social Democrats say at national conference: Members of the Social Democrats convened today for its first in-person conference since 2019.  https://www.thejournal.ie/social-democrats-party-conference-5787467-Jun2022/?amp=1

 

 

• Ireland’s new National Policy on Architecture showcased in New European Bauhaus Festival  https://www.gov.ie/en/press-release/577e6-irelands-new-national-policy-on-architecture-showcased-in-new-european-bauhaus-festival/

 

• Past, present, and future: Inside the Dublin City Council battle over the new city plan: The City Plan is a phonebook-sized document detailing exactly what can be built in Dublin, and developers are alleging that the new plan will blow a hole in the city’s housing supply. The council doesn’t see it that way. https://thecurrency.news/articles/86489/inside-the-dublin-city-council-fight-over-the-new-city-plan-at-stake-is-the-look-feel-and-price-of-life-in-dublin-in-the-years-to-come/

 

• Head of planning institute says appointments to An Bord Pleanála need scrutiny  https://m.independent.ie/news/environment/head-of-planning-institute-says-appointments-to-an-bord-pleanala-need-scrutiny-41730106.html

 

• Farmer wants Intel planning permission revisited after Paul Hyde allegations https://www.irishexaminer.com/news/arid-40892930.html Also: Thomas Reid’s long — and lonely — battle with An Bord Pleanála: The legal challenge taken by Reid did provide an insight into the workings of the planning board and the result was not pretty  https://www.irishexaminer.com/opinion/commentanalysis/arid-40892408.html 

 

• A preliminary analysis of local property tax (LPT) returns by the Revenue Commissioners shows there is a “low” number of vacant residential units across the country  https://m.independent.ie/business/irish/tax-return-research-shows-low-level-of-vacant-properties-says-donohoe-41723562.html

 

• Ireland is ‘firefighting’ energy crisis of own making, Statkraft boss says: Statkraft Ireland’s managing director Kevin O’Donovan says the national grid operator must move quickly to prevent high energy prices becoming ‘baked into’ the system https://www.businesspost.ie/news/ireland-is-firefighting-energy-crisis-as-eirgrid-fails-to-deliver-on-infrastructure/

 

• Calls for wool study to be published immediately – “The price of insulation is increasing rapidly in line with all construction costs and there is a real opportunity to capture that market using wool.” https://www.agriland.ie/farming-news/calls-for-wool-study-to-be-published-immediately/

 

• Staying at the Historic Castles of Ireland  https://www.barrons.com/amp/articles/staying-at-the-historic-castles-of-ireland-01654621178

 

• City of London sets out new planning guidance to tackle embodied carbon  https://www.architectsjournal.co.uk/news/city-of-london-sets-out-new-planning-guidance-to-tackle-embodied-carbon

 

• The passing of the Environment Bill (2021) means that Biodiversity Net Gain (BNG) is now a legal requirement for new development projects in the UK – is there an Irish equivalent?https://environmentbank.com/blog/posts/on-site-vs-off-site-habitat-creation-which-is-best-for-nature

 

• Ranked: These Are 10 of the World’s Least Affordable Housing Markets  https://www.visualcapitalist.com/10-least-affordable-housing-markets/

 

• Cork’s teen architects draw plans for homes of the future: We talk to the students, teacher and architect involved in the Architects in Schools programme in a Cork second-level school  https://www.irishexaminer.com/property/homeandgardens/arid-40892342.html

 

• Is There a Future for Open Source Architecture? https://www.archdaily.com/983160/is-there-a-future-for-open-source-architecture

 

• Microplastics found in freshly fallen Antarctic snow for first time: New Zealand researchers identified tiny plastics, which can be toxic to plants and animals, in 19 snow samples  https://www.theguardian.com/world/2022/jun/08/microplastics-found-in-freshly-fallen-antarctic-snow-for-first-time

 

• Projects honouring built heritage in the running for Ireland’s favourite building: Five commercial properties, which include a waterfront office site in Dublin’s docklands, have been shortlisted for this year’s Public Choice Award  https://www.businesspost.ie/property/projects-honouring-built-heritage-in-the-running-for-irelands-favourite-building/ (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

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

 

 

Produced by Hear Me Roar Media 

 

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

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• Time to take back the streets for children: Permanent and temporary play streets are common in many cities worldwide  https://www.irishtimes.com/opinion/2022/06/08/time-to-take-back-the-streets-for-children/

 

• Surveillance Ireland: is CCTV the ‘fix’ it promises to be? Gardaí, communities and individuals are increasingly using surveillance cameras but their benefits may be overstated  https://www.irishtimes.com/crime-law/2022/06/06/surveillance-ireland-is-cctv-the-fix-it-promises-to-be/

 

• Isn’t it about time we started loving Dublin again? Some landlords don’t have to react with any urgency to vacant premises and might prefer to sit on a property rather than accept lower rents https://www.irishtimes.com/opinion/2022/06/11/david-mcwilliams-isnt-it-about-time-we-started-loving-dublin-again/

 

• CIE’s bus garage at Conyngham Road in Dublin is one of a number of sites that will not be transferred to the Land Development Agency for housing until between 2027 and 2030.  https://www.rte.ie/news/ireland/2022/0610/1304120-land-development-agency/

 

• 101-unit build-to-rent apartment scheme approved in Stillorgan despite council concerns: The local council said it has serious concerns relating to the development’s scale, massing and height. https://www.thejournal.ie/apartment-scheme-stillorgan-5785164-Jun2022/

 

• “We have a moral imperative to embrace the fact that we need to build houses. It is logically inconsistent to say you care about the housing crisis and still object.”  https://www.irishtimes.com/business/2022/06/10/karl-deeter-back-plans-for-malahide-development-amid-opposition-from-local-groups/

 

• Dublin from 1970 to 1990: The City Transformed: Peerless research: Joseph Brady’s book is jam-packed with facts, insights and local histories of capital  https://www.irishtimes.com/culture/books/dublin-from-1970-to-1990-the-city-transformed-peerless-research-1.4886194

 

 

• Galway County Council pre-planning meetings still on hold  https://connachttribune.ie/galway-county-council-pre-planning-meetings-still-on-hold/amp/

 

• Proposal to extend pedestrianised zones in Galway city centre  https://connachttribune.ie/proposal-to-extend-pedestrianised-zones-in-galway-city-centre/ Also: Pedestrianising of city streets referred to An Bord Pleanála – Galway Daily https://www.galwaydaily.com/news/pedestrianising-of-city-streets-referred-to-an-bord-pleanala/

 

 

• 82 new homes officially opened in county Wicklow today  https://wicklownews.net/2022/06/82-new-homes-officially-opened-in-county-wicklow-today/

 

• Kildare County Council blocks plan for houses in Robertstown  https://www.kildarenow.com/news/home/833418/kildare-county-council-blocks-plan-for-houses-in-robertstown.html

 

• There are zero grants available for young people buying and renovating old shops and houses, Laois County Council has confirmed.  https://www.leinsterexpress.ie/news/property/828250/not-one-shilling-in-grants-for-young-laois-people-buying-old-homes.html

 

• Laois people would move back from Australia if sites to build were available at home: Just three Laois villages in mix for new €50 million Government scheme that could mean such sites could be created  https://www.leinsterexpress.ie/news/home/833617/laois-people-would-move-back-from-australia-if-sites-to-build-were-available-at-home.html

 

• UNVEILED – THE MYSTERIOUS PORTLAOISE MURAL!  https://laois-nationalist.ie/2022/06/07/unveiled-the-mysterious-portlaoise-mural/

 

• Planning application refused for 30 metre high telecommunications tower in Keshcarrigan  https://www.shannonside.ie/news/planning-application-refused-for-30-metre-high-telecommunications-tower-in-keshcarrigan-205244

 

• Over 130 casual trading licenses issued in Tralee in last decade  https://www.radiokerry.ie/news/over-130-casual-trading-licenses-issued-in-tralee-in-last-decade-285220

 

• Retention permission for Inch campsite appealed to An Bord Pleanála  https://www.radiokerry.ie/news/retention-permission-for-inch-campsite-appealed-to-an-bord-pleanala-284663

 

• Thousands of Poles priced out of Ireland  https://www.thetimes.co.uk/article/thousands-of-poles-priced-out-of-ireland-5tldkjb80

 

• 9 Most Walkable Cities Around The World  https://www.travelawaits.com/2770415/most-walkable-international-cities-2022/

 

 

*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

• Nama says construction inflation ‘a real challenge’ in plan to deliver 1,800 homes by 2025: Agency’s chief executive says 600 homes will be completed this year despite the increase in costs for building materials  https://www.businesspost.ie/news/nama-says-construction-inflation-a-real-challenge-in-plan-to-deliver-1800-homes-by-2025/

 

• Is land zoned as residential being hoarded? No one really knows for sure  https://m.independent.ie/business/irish/is-land-zoned-as-residential-being-hoarded-no-one-really-knows-for-sure-41741559.html

 

• Conditions attached to 15,000 planning permissions to prevent bulk purchasing by investors: Housing Minister Darragh O’Brien will update Cabinet on the measures introduced last year.  https://www.thejournal.ie/housing-bulk-buying-5785931-Jun2022/

 

• Planning for State sites to accommodate 12,000 homes will not begin until 2025 or later: Concerns growing in Government over pace of delivery of housing on sites controlled by Land Development Authority  https://www.irishtimes.com/politics/2022/06/11/planning-for-state-sites-to-accommodate-12000-homes-will-not-begin-until-2025-or-later/

 

• A call to state agencies to free up properties to the Land Development Agency magicked up a big figure. Yet it was completely unrealistic. To build homes at a bus station, you must first move the bus station. This was never a quick fix… https://www.thetimes.co.uk/article/government-has-lost-the-plot-over-state-lands-0zkzws22l

 

• Work on 1,000 homes at O’Devaney Gardens to get under way, says Dublin City Council: Construction follows failed attempt by councillors to rescind agreement with construction firm Bartra  https://www.irishtimes.com/ireland/housing-planning/2022/06/08/dublin-city-council-says-work-on-1000-homes-at-odevaney-gardens-to-get-under-way/

 

• Almost 16,000 homes ring-fenced for individual buyers following ban on bulk selling to funds: New legislation was brought in following a political furore caused by a Business Post story about the planned sale of 115 new homes to an investment firm  https://www.businesspost.ie/news/almost-16000-homes-ring-fenced-for-individual-buyers-following-ban-on-bulk-selling-to-funds/

 

• Quintain Ireland has been given the go-ahead for a new homes scheme by Dún Laoghaire-Rathdown County Council. The project, at its Cherrywood Village development in south Dublin, is understood to have a gross development value of around €86m. https://m.independent.ie/business/irish/quintains-cherrywood-village-scheme-gets-green-light-for-169-new-homes-41741521.html

 

• Dublin City Council opposes 13-storey tower block plan for former De La Salle school site in Ballyfermot: Proposed development envisages 927 apartments being built https://www.irishtimes.com/business/2022/06/08/dublin-city-council-opposes-13-storey-tower-block-plan-for-former-de-la-salle-school-site-in-ballyfermot/

 

• ‘Stealth’ planning exemption for homeless hostel in south Dublin overturned: The Peter McVerry Trust had plans to set up a 74-bed homeless hostel on Lower Baggot Street inside a €5 million Georgian hotel with 24 bedrooms  https://www.dublinlive.ie/news/dublin-news/stealth-planning-exemption-homeless-hostel-24171314

 

• Dublin city centre site with full planning for new hotel seeks €6m: Westmoreland Street plot has approval for development of 38-bedroom boutique hotel https://www.irishtimes.com/property/commercial-property/2022/06/08/dublin-city-centre-site-with-full-planning-for-new-hotel-seeks-6m/

 

• Challenge brought against decision to grant planning for 493-unit development: Residents of proposed development in south Dublin have brought a High Court challenge against An Bord Pleanála claiming conflict of interest in the project by two board members  https://www.irishexaminer.com/news/courtandcrime/arid-40891061.html

 

• Celbridge town-centre site with apartment development potential https://m.independent.ie/business/commercial-property/celbridge-town-centre-site-with-apartment-development-potential-41734527.html

 

• Work progresses at €20m Cork office block The Prism: Will be one of Cork’s most eye-catching office developments https://www.irishexaminer.com/property/developmentconstruction/arid-40891481.html

 

• Plans lodged for major mixed-use development in Cork town: The proposed strategic housing development seeks to “transform” the area’s town centre. https://www.echolive.ie/corknews/arid-40891991.html (pictured) 

 

• Scope for 200 houses in historic Castlemartyr village on €2m site: Level land for house building at €10k per house ‘stand’ is within the village, a ten-minute drive from beaches  https://www.irishexaminer.com/property/commercial/arid-40891223.html

 

• Permission granted for housing development at Ballybane Road opposite ATU Galway  https://galwaybayfm.ie/galway-bay-fm-news-desk/permission-granted-for-housing-development-at-ballybane-road-opposite-atu-galway/

 

• Waterford businessman to appeal planning refusal for Dungarvan hotel: Waterford City and County Council rejected plans for a seven-storey, 40-bedroom boutique hotel on Davitt’s Quay, Dungarvan  https://www.irishexaminer.com/news/munster/arid-40890812.html

 

• Property group owned by Eric Kinsella is investing €100 million in a new logistics park in Co Kildare.: Esprit Investments has applied for permission from Kildare county council to build 11 warehouses and light industrial units on a site off the M4  https://www.thetimes.co.uk/article/cash-rich-kinsella-eyes-logistics-park-8dkb9jd37

 

• Key Athlone site now on the market  https://www.westmeathindependent.ie/2022/06/10/key-athlone-site-now-on-the-market/

 

• Nine-storey office block mooted for Lissywollen area of Athlone  https://www.westmeathindependent.ie/2022/06/10/nine-storey-office-block-mooted-for-lissywollen-area-of-athlone/

 

• Former Westmeath Shopping Centre To Be Replaced With “Inappropriate” Apartment Block  https://www.midlands103.com/news/midlands-news/former-westmeath-shopping-centre-to-be-replaced-with-apartment-block/

 

• Building works began on 32 housing units in Kerry in April  https://www.radiokerry.ie/news/building-works-began-on-32-housing-units-in-kerry-in-april-284892

 

• Construction on 130-bed Killarney nursing unit to begin at end of year https://www.radiokerry.ie/news/construction-on-130-bed-killarney-nursing-unit-to-begin-at-end-of-year-285217

 

• 38-unit estate in Rosbercon is given approval by department  https://m.independent.ie/regionals/wexford/news/38-unit-estate-in-rosbercon-is-given-approval-by-department-41729893.html

 

• Sorry to read this news today – the Sonica team delivered some of the most innovative fit out projects in recent years:  ‘Interior fit-out contractor Sonica wound up by High Court: Company fails to secure investment needed to survive’ https://www.irishtimes.com/business/2022/06/07/interior-fit-out-contractor-sonica-wound-up-by-high-court/

 

• Kingspan to invest €200m in Ukraine technology campus  https://m.independent.ie/business/irish/kingspan-to-invest-200m-in-ukraine-technology-campus-41728185.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

 

• ESG: Half of listed Irish firms have sustainability officer, nearly double global average – study: Ireland’s appointment rate is ahead of global average with senior executives hired to drive green agenda https://www.businesspost.ie/news/half-of-listed-irish-firms-have-sustainability-officer-nearly-double-global-average-study/

 

But…

 

• Vincent Boland: Has the ESG movement imploded after falling into the trap of believing its own publicity?: The probe into German asset manager DWS has revealed a fatal flaw in the much-lauded concept of ethical investment: no one agrees on what it actually means  https://www.businesspost.ie/news-focus/vincent-boland-esg-movement-imploding-after-falling-into-the-trap-of-believing-its-own-publicity/

 

• ‘Upfront, open and transparent’: How live online offers are optimising the sale of this Cork home: Offers by Daft is an innovative new product which allows buyers to place and track offers in real time.  https://www.thejournal.ie/daft-offers-5786407-Jun2022/

 

• New €55,000 drone launched for Irish farmers and builders: ZenaDrone’s new model 1000 drone can automatically detect sick crops and manage livestock, its founder says.  https://m.independent.ie/business/farming/new-55000-drone-launched-for-irish-farmers-and-builders-41736201.html

 

• Machines for living: How ICT is changing the way the property sector works. Technology is transforming the property industry, from planning and construction to purchase and even operations  https://www.businesspost.ie/commercial-reports/machines-for-living-how-ict-is-changing-the-way-the-property-sector-works/

 

• Belfast man’s new ‘Airbnb for gardeners’ tackling food poverty, climate change and dead spaces: His digital platform links would-be gardeners with neighbourhood gardens with room to spare https://www.belfastlive.co.uk/news/belfast-news/belfast-mans-new-airbnb-gardeners-24127590.amp

 

• PropTech 2022: Most Active Investors and Top Startups Released at F50 Global Capital Summit https://www.digitaljournal.com/pr/proptech-2022-most-active-investors-and-top-startups-released-at-f50-global-capital-summit

 

• 1Sharpe Ventures closes $90M fund to invest in early-stage proptech companies  https://connectedremag.com/uncategorized/1sharpe-ventures-closes-90m-fund-to-invest-in-early-stage-proptech-companies/

 

• Pi Labs: VC firm’s proptech startup cohort raises £15m https://www.uktech.news/proptech/pi-labs-vc-firms-proptech-startup-cohort-raises-15m-20220606

 

• Shift in agents performing inventories due to Proptech  https://www.propertymark.co.uk/resource/shift-in-agents-performing-inventories-due-to-proptech.html

 

• Connells reveals drive to adopt more proptech with senior hire: Julie Chapman is the firm’s new CTO and arrives from gambling industry giant Entain, owner of Ladbrokes. https://thenegotiator.co.uk/connells-reveals-drive-to-adopt-more-tech-with-new-hire-estate-agency/

 

• ‘Collaborative’ conveyancing proptech secures new funding  https://www.estateagenttoday.co.uk/breaking-news/2022/6/collaborative-conveyancing-proptech-secures-new-funding?source=newsticker

 

• Are Smart Homes Worth the Hassle?  https://www.reviewgeek.com/120490/are-smart-homes-worth-the-hassle/

 

• What do the new UK building regulations mandating gigabit broadband mean for housebuilders?  https://www.pbctoday.co.uk/news/construction-technology-news/new-building-regulations-gigabit-broadband-housebuilders-guide/111567/

 

• Construction Technology Festival 2022 is back with its 5th edition: Expanded Festival now includes key PropTech focus and the annual Construction Technology Awards, covering the industry’s entire value chai  https://cceonlinenews.com/2022/06/06/construction-technology-festival-2022-is-back-with-its-5th-edition-2/

 

• New Technology in Construction Machinery Market is set to experience a significant growth rate: https://www.digitaljournal.com/pr/new-technology-in-construction-machinery-market-is-set-to-experience-a-significant-growth-rate-komatsu-volvo-construction-equipment-built-robotics-obayashi-corporation-kddi#ixzz7VPOt2NhL 

 

• Colorado-based Prometheus Materials has developed masonry blocks from a low-carbon cement-like material grown from micro-algae.  https://www.dezeen.com/2022/06/07/prometheus-biocomposite-cement-blocks/

 

• Is Apple’s RoomPlan coming for Scan-to-BIM? RoomPlan is the latest addition to ARKit that is turning heads in the reality capture world.  https://www.geoweeknews.com/blogs/is-apple-s-roomplan-coming-for-scan-to-bim-is-apple-s-roomplan-coming-for-scan-to-bim

 

• Homes made offsite reduce carbon emissions by up to 45% compared to traditional methods of construction, a new study has revealed https://www.insidehousing.co.uk/news/news/mmc-cut-carbon-emissions-by-up-to-45-research-finds-75970

 

• BIM: Steering committee established for implementing common digital language https://www.pbctoday.co.uk/news/bim-news/steering-committee-implement-construction-common-digital-language-co-builder-define/111602/

 

• The unmissable retail impact of leveraging the right PropTech solution  https://www.retaildive.com/spons/the-unmissable-retail-impact-of-leveraging-the-right-proptech-solution/624815/

 

• The world’s largest real-estate proptech VC just made its first metaverse investment. A partner at the firm breaks down 3 reasons why blockchain land development will attract ‘trillions’ over time.  https://www.businessinsider.com/digital-real-estate-metaverse-investing-outlook-forecast-proptech-vc-investing-2022-6?r=US&IR=T

 

• Are we ready for the PropTech metaverse?… https://www.estateagenttoday.co.uk/features/2022/6/are-we-ready-for-the-proptech-metaverse

 

• The Great SPAC Attack in Proptech Retreats. Now What? – Commercial Observer https://commercialobserver.com/2022/06/spacs-proptech-latch-2022/

 

• US firm shifts from operating coworking spaces to providing a service — and raises $10M to do it  https://www.bizjournals.com/washington/news/2022/06/07/blackstone-innovations-investments-funds-cove.html

 

• Proptech Smells Opportunity in On-Site Wastewater Recycling: Companies such as the Gates Foundation-blessed Epic Cleantec hope to lower energy costs — and dent climate-change-related shortages https://commercialobserver.com/2022/06/wastewater-recycling-cleantec-proptech/

 

• NAB, AirTree back $11m raise for proptech Archistar  https://www.businessnewsaustralia.com/articles/nab–airtree-and-more-back–11m-raise-for-proptech-archistar.html

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• ‘Exceptionally unlikely’ that Govt could bend EU spending rules to build more homes: Sinn Féin has said flexibility around fiscal rules is necessary to address the housing crisis. https://www.thejournal.ie/housing-spending-rules-5787593-Jun2022/?amp=1

 

 

• House prices up 12pc in past year as ‘Celtic Tiger’ levels loom, new report finds  https://m.independent.ie/irish-news/house-prices-up-12pc-in-past-year-as-celtic-tiger-levels-loom-new-report-finds-41730572.html

 

• Mortgage rates fall but warning of rises on the way  https://m.independent.ie/business/personal-finance/property-mortgages/mortgage-rates-fall-but-warning-of-rises-on-the-way-41732769.html

 

• Firms buying up homes in attempt to secure workers as housing crisis deepens: The trend has become apparent amid huge labour shortages and a paucity of affordable rental accommodation  https://www.businesspost.ie/news/firms-buying-up-homes-in-attempt-to-secure-workers-amid-housing-crisis/

 

• Reaching for the off switch: An alternative way of selling your home: Off-market is not the easiest way to sell, but it is increasingly the most desirable for top-end vendors who value privacy and discretion  https://www.businesspost.ie/property/reaching-for-the-off-switch-an-alternative-way-of-selling-your-home/

 

• 329 homes in Galway ring-fenced for individual buyers over past year  https://galwaybayfm.ie/galway-bay-fm-news-desk/329-homes-in-galway-ring-fenced-for-individual-buyers-over-past-year/

 

• Housing remains ‘an overwhelming problem’ in Clare – Clare Echo https://www.clareecho.ie/housing-remains-an-overwhelming-problem-in-clare/

 

• Cranberry retreat –inside the old world lodge in Clare where Dolores O’Riordan stepped back from fame  https://m.independent.ie/life/home-garden/homes/cranberry-retreat-inside-the-old-world-lodge-in-clare-where-dolores-oriordan-stepped-back-from-fame-41738382.html

 

 

 

 

COMMERCIAL PROPERTY NEWS

• The big office move: Although lettings have bounced back, uptake is lagging pre-Covid levels. What does the slowdown mean for Dublin’s mega development sites? https://www.thetimes.co.uk/article/the-big-office-move-d2ngvrzlr

 

• Marshes mall hits the block at €40m: Kennedy Wilson adds Louth shopping centre to glut of retail sites due to come on the market this month  https://www.thetimes.co.uk/article/marshes-mall-hits-the-block-at-40m-lbmgvkg0m

 

• Cerberus, CarVal and Cabot join forces for AIB problem loans bid: `Project Sycamore’ portfolio to be mainly made up of deep-in-default commercial property loans  https://www.irishtimes.com/business/financial-services/2022/06/06/cerberus-carval-and-cabot-join-forces-for-aib-problem-loans-bid/

 

• Aviva fund boss: ‘We try to sweat the assets more than our competitors’: Suzie Nolan says sustainability is a key focus of the €650 million-plus fund, which is now about to launch the ultra-modern office building 18 Lower Leeson Street in Dublin 2  https://www.businesspost.ie/property/aviva-fund-boss-we-try-to-sweat-the-assets-more-than-our-competitors/

 

• Spear Street cashes out €100m on Flutter HQ sale  https://www.thetimes.co.uk/article/spear-street-cashes-out-100m-on-flutter-hq-sale-ghq7c39k2

 

• Irish Residential Properties REIT : I•RES Launches Ireland’s First LEED Gold-Designed Residential Development  https://www.marketscreener.com/amp/quote/stock/IRISH-RESIDENTIAL-PROPERT-16290109/news/Irish-Residential-Properties-REIT-I-bull-RES-Launches-Ireland-s-First-LEED-Gold-Designed-Residenti-40673528/

 

• French investor enters Irish market with €10.65m deal for south Dublin clinic: La Francaise Real Estate Managers acquires premises of Sims IVF in Clonskeagh  https://www.irishtimes.com/property/commercial-property/2022/06/08/french-investor-enters-irish-market-with-1065m-deal-for-south-dublin-clinic/

 

• High-profile financial adviser pays €5.2m for south Dublin office: Paul Merriman of Ask Paul and Pax Financial acquires Maple House in Stillorgan from longstanding owner  https://www.irishtimes.com/property/commercial-property/2022/06/08/high-profile-financial-adviser-pays-52m-for-south-dublin-office/

 

• Citywest office suite at €900,000 offers buyer 6% yield: 3015 Lake Drive comes for sale fully let and delivering rental income of €58,730 per annum https://www.irishtimes.com/property/commercial-property/2022/06/08/citywest-office-suite-at-900000-offers-buyer-6-yield/

 

• TIO secures two new tenants for North Dock office scheme: Interactive Brokers and HEAnet join Gilead Sciences and Blueface in Dublin’s first ‘nearly zero energy’ building https://www.irishtimes.com/property/commercial-property/2022/06/08/tio-secures-two-new-tenants-for-north-dock-office-scheme/

 

• Yourway Announces New Flagship European Depot in Dublin, Ireland  https://www.prnewswire.com/news-releases/yourway-announces-new-flagship-european-depot-in-dublin-ireland-301562095.html

 

• Rathmines Road mixed-use opportunity guiding at €3.5m: Investment is generating €285,780 in annual rental income from Spar and nine fully let flats  https://www.irishtimes.com/property/commercial-property/2022/06/08/rathmines-road-mixed-use-opportunity-guiding-at-35m/

 

• Prestigious Hawksmoor steakhouse chain snaps up College Green site: The former National Irish Bank building in Dublin 2 is to house its first Irish outlet, which will open its doors next spring  https://www.businesspost.ie/property/prestigious-hawksmoor-steakhouse-chain-snaps-up-college-green-site/

 

• Crowdfunding restaurants? Gaz Smith, who already owns Michael’s and Little Mike’s in Mount Merrion, says those who put €10,000 into the project will receive the same amount in vouchers that can be used in any of his three restaurants: https://www.businesspost.ie/news/dublin-restaurant-seeks-investors-via-e10k-pre-paid-voucher-scheme/

 

• Pub on western approaches to Killiney has €900,000 guide  https://m.independent.ie/business/commercial-property/pub-on-western-approaches-to-killiney-has-900000-guide-41734525.html

 

• Conor McGregor buys third pub as Dublin property empire expands  https://m.independent.ie/style/celebrity/celebrity-news/conor-mcgregor-buys-third-pub-as-dublin-property-empire-expands-41739955.html

 

• 14 Irish Pub Properties Hit The Market  https://www.hospitalityireland.com/amp/pub-bar-nightclub/14-irish-pub-properties-hit-the-market-175869

 

• Facebook plans major expansion of Cork City operation as Meta looks to hire on Leeside: The social media giant is already doing cutting edge development work in our city  https://www.corkbeo.ie/news/local-news/facebook-plans-major-expansion-cork-24148699

 

• Two-storey Cork city pub in prime nightlife location goes up for sale after two years shut: Well known and centrally located, the pub is “fully fitted and ready to trade”  https://www.corkbeo.ie/news/local-news/two-storey-cork-city-pub-24183511

 

• Tesco must sell Joyce family’s Oranmore outlet to complete purchase of other stores https://m.independent.ie/business/irish/tesco-must-sell-joyce-familys-oranmore-outlet-to-complete-purchase-of-other-stores-41730138.html

 

• Last orders for pub in Limerick village as it is turned into housing  https://www.limerickleader.ie/news/home/833713/last-orders-for-pub-in-limerick-village-as-it-isturned-into-housing.html

 

• Fully let Kildare retail warehouse investments seeking €3.75m: Clane and Newbridge assets for sale individually at €2.6m and €1.15m guide prices  https://www.irishtimes.com/property/commercial-property/2022/06/08/fully-let-kildare-retail-warehouse-investments-seeking-375m/

 

• Plenty of secrets behind doors of revamped Co Kildare hotel: The handsome façade of Lawlor’s Hotel hides a multimillion euro refurbishment that mixes high-tech facilities with imaginative reuse of fascinating and extravagant period pieces  https://www.businesspost.ie/property/plenty-of-secrets-behind-doors-of-revamped-co-kildare-hotel/

 

• How landlords can profit from having a digital billboard on a property  https://www.landlordtoday.co.uk/lettings-prop-tech/2022/6/how-landlords-can-profit-from-having-a-digital-billboard-on-a-property

 

INTERNATIONAL PROPERTY NEWS

• House prices still at a high but growth rate slowing  https://www.thetimes.co.uk/article/house-prices-still-at-a-high-but-growth-rate-slowing-nrtgxmmxj

 

• House building holds back construction growth https://www.constructionenquirer.com/2022/06/08/house-building-holds-back-construction-growth/

 

• Are online agents heading for a bumpy ride? https://propertyindustryeye.com/are-online-agents-heading-for-a-bumpy-ride/

 

• John Lewis names sites for its ‘more than four walls’ newbuild flats: Retailer aims to start work on flats furnished with own products in Bromley, Ealing and Reading in 2024  https://www.theguardian.com/business/2022/jun/09/john-lewis-names-sites-for-its-more-than-four-walls-newbuild-flats

 

• University College London has removed a number of Bartlett School of Architecture staff from student-facing duties after uncovering allegations of bullying, racism and sexual misconduct spanning decades.  https://www.bdonline.co.uk/news/bartlett-suspends-staff-as-investigation-uncovers-toxic-culture-lasting-decades/5117876.article

 

• Short-term rentals, long-term anguish for Australian towns struggling to find homes for locals https://www.theguardian.com/technology/2022/jun/11/short-term-rentals-long-term-anguish-for-australian-towns-struggling-to-find-homes-for-locals

 

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/