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: 

 

• Property District West (https://propertydistrict.ie/): All PR and communications (ghostwriting, social media management, public consultation and community engagement for placemaking) available as Gaeilge from our Galway base in An Cheathrú Rua. Email brid@propertydistrict.ie for further information.

 

• House hunters go into the west seeking their dream home: As estate agents report a booming demand for rural properties, a new Irish-language TV series shows just what’s on offer https://www.irishexaminer.com/property/homeandgardens/arid-40903409.html

 

• Census put population above 5 million for first time since 1851  https://www.rte.ie/news/ireland/2022/0623/1306398-census/ Also: Census of Population 2022 – Preliminary Results https://www.cso.ie/en/releasesandpublications/ep/p-cpr/censusofpopulation2022-preliminaryresults/ 

 

• From schools to housing, successive governments have failed to use invaluable census stats to plan properly, experts say  https://m.independent.ie/irish-news/from-schools-to-housing-successive-governments-have-failed-to-use-invaluable-census-stats-to-plan-properly-experts-say-41783926.html

 

• Goldman Sachs warns US recession risk now higher  https://m.independent.ie/business/world/goldman-sachs-warns-us-recession-risk-now-higher-41773079.html And from an Irish perspective: How bad is the looming economic storm? Experts give their views: Businesses are experiencing growth — but we are entering a time of great uncertainty   https://m.independent.ie/business/personal-finance/latest-news/how-bad-is-the-looming-economic-storm-experts-give-their-views-41790732.html 

 

• Number of homeless people up for fifth month in a row to 10,325: There are 3,028 children in emergency accommodation.  https://www.thejournal.ie/homeless-figures-may-housing-5799201-Jun2022/

 

• How do we provide affordable apartments for first-time buyers? Croí Cónaithe shows public and private sector can work together to bridge apartment viability gap https://www.irishtimes.com/opinion/2022/06/22/how-do-we-provide-affordable-apartments-for-first-time-buyers/ 

 

• Government’s help-to-buy scheme ‘fuelled property inflation’, says Oireachtas budget report https://www.irishexaminer.com/news/arid-40903337.html

 

• Irish homes are among the least crowded in the EU, with plenty space for adults to work or children to play without being on top of each other.  https://www.irishexaminer.com/news/arid-40899803.html

 

• More than 100 homes approved for site of former church as part of scheme to provide social homes: Minister for housing says he wants to see more underutilised church lands used for housing  https://www.irishtimes.com/ireland/housing-planning/2022/06/22/more-than-100-homes-approved-for-site-of-former-church-as-part-of-scheme-to-provide-social-homes/ 

 

• The State has been frustratingly slow at freeing up its own land for housing: Michael D Higgins’s comments were on the button regarding the public policy failure around housing, but when will the Government’s elaborate excuses stop?  https://www.irishtimes.com/opinion/2022/06/25/the-state-has-been-frustratingly-slow-at-freeing-up-its-own-land-for-housing/

 

• Thornton Hall site is valued at €6.5m: Department of Justice secures new, higher valuation that it says gives fairer value to proposed super-prison site  https://www.irishtimes.com/business/2022/06/21/thornton-hall-site-is-valued-at-65m/

 

• Office of Planning Regulator refuses to attend Dublin City Council meeting to explain orders on build-to-rent schemes: City councillors of all parties and Independents said regulator’s ‘snub’ for second time was ‘affront to democracy’  https://www.irishtimes.com/ireland/housing-planning/2022/06/19/office-of-planning-regulator-refuses-to-attend-dublin-city-council-meeting-to-explain-orders-on-build-to-rent-schemes/

 

• Civil servant distances himself from controversial appointment to State housing agency: Secretary general of Department of Housing says he had ‘no involvement’ in appointment of Tom Enright  https://www.irishtimes.com/politics/oireachtas/2022/06/23/civil-servant-distances-himself-from-controversial-appointment-to-state-housing-agency/

 

• AIB sells problem loans portfolio to Cerberus-led group for €400m: Loan book, with reported original value of more than €700 million, is about nine years in default on average  https://www.irishtimes.com/business/financial-services/2022/06/21/aib-sells-problem-loans-portfolio-to-cerberus-led-group-for-400m/

 

• AIB to be hit with massive tracker mortgage fine https://m.independent.ie/business/personal-finance/property-mortgages/aib-to-be-hit-with-massive-tracker-mortgage-fine-41780177.html

 

• Quarry owners doing ‘side deals’ with homeowners affected by crumbling concrete, committee told: Politicians aware of such issues urged to come forward and ‘use their authority to get it stopped’  https://www.irishtimes.com/politics/oireachtas/2022/06/23/quarry-owners-doing-side-deals-with-homeowners-affected-by-crumbling-concrete-committee-told/

 

• Government to sign off on ‘carbon budgets’ before Dáil recess  https://www.irishexaminer.com/news/arid-40899872.html

 

• Five detailed ways to design an office for neurodiversity https://www.fastcompany.com/90762205/five-detailed-ways-to-design-an-office-for-neurodiversity

 

• Architecture and Yoga: Tools for Mindfulness  https://www.archdaily.com/983907/architecture-and-yoga-tools-for-mindfulness

 

• Dublin city to have new free public Wi-Fi system  https://www.breakingnews.ie/ireland/dublin-city-to-have-new-free-public-wi-fi-system-1322267.html

 

• *Event next Thursday* – Navigating LRD: The new Planning Process in the Irish Residential Market, book here: https://www.eventbrite.ie/e/navigating-lrd-tickets-342655119687

 

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

On iPropertyRadio this week…

Part 1 – Property Matters: Patrick Folan, Director with IAm Sold joins us to talk about the current auction market and recent changes in buyer and vendor sentiment.

Watch back: https://youtu.be/Lr1DVoO1-6o 

 

Part 2 – Breaking Ground: Harrison Gardner, builder, teacher and co-founder of Common Knowledge, the non-profit social enterprise focused on sharing skills for a sustainable life (https://www.ourcommonknowledge.org/course-listings) joins us to talk about Build School and empowering people to ‘Build Your Own Home’.

Watch back:  https://youtu.be/JP4kMIEmZwA 

 

Part 3: In the PROPTECH HOT SEAT this week Ciaran Brennan, co-founder & CEO of Livecosts and host of the Livecosts podcast on iPropertyRadio explores what SME contractors can do to ‘control the controllables’ right now.

Watch back: https://youtu.be/ysjQ0ff3Dio 

 

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

Produced by Hear Me Roar Media 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

• 10 – 12 Hanover Quay voted Ireland’s favourite building: The building won the Public Choice Award in the Royal Institute of the Architects of Ireland awards. https://www-thejournal-ie.cdn.ampproject.org/c/s/www.thejournal.ie/architecture-award-hanover-quay-5797801-Jun2022/?amp=1

 

 

• Planning reforms set to reduce legal challenges, developer lobby told: Institutional property group criticises ‘dysfunctional planning system’  https://www.irishtimes.com/business/2022/06/24/officials-advised-developer-lobbyist-reforms-would-reduce-legal-challenges/ 

 

• Planned residential scheme for Dundrum village prompts concerns: Locals agree site of 1970s shopping centre needs a revival but feel Hammerson’s proposal will not benefit area  https://www.irishtimes.com/environment/2022/06/21/plonking-16-storeys-in-front-of-peoples-houses-is-ridiculous-planned-residential-scheme-for-dundrum-village-prompts-concerns/

 

• Housing activists break into and occupy derelict building set to be transformed into old folks’ homes: Activists from the Revolutionary Workers Union broke into a site being redeveloped by Alone at Jamestown Court in Inchicore with ‘angle grinders’  https://www.dublinlive.ie/news/dublin-news/housing-activists-break-occupy-derelict-24274170.amp

 

• A formal request for an oral hearing into contentious plans for Bulloch Harbour has been rejected. The planned scheme is the subject of a long-running battle between the developers, Bartra, and Dalkey residents, including broadcaster Pat Kenny. https://www.breakingnews.ie/amp/ireland/bulloch-harbour-plan-appeal-will-not-go-to-oral-hearing-1323238.html

 

• Neighbours’ Building Plans Send U2 Star Over The Edge https://extra.ie/2022/06/20/news/irish-news/the-edge-u2-neighbours-building-plans

 

• Multi-million euro projects to transform Cork Marina unveiled: Council seeks planning for upgrade of promenade and final phase of park development  https://www.irishexaminer.com/news/munster/arid-40902320.html

 

• Conditional permission for new hotel on Cork’s Airport Road: The proposal, which has raised concerns from a number of parties, includes 134 residential units, a 158-bed hotel, and a three-storey neighbourhood centre https://www.irishexaminer.com/property/developmentconstruction/arid-40899629.html

 

• More than 100 new homes opened in Cork city  https://www.echolive.ie/corknews/arid-40901378.html

 

• Dáil hears Galway City “going under” with traffic due to lack of progress on transport measures  https://galwaybayfm.ie/galway-bay-fm-news-desk/dail-hears-galway-city-going-under-with-traffic-due-to-lack-of-progress-on-transport-measures/

 

• Expressions of interest sought for former tourism kiosk in Eyre Square  https://connachttribune.ie/expressions-of-interest-sought-for-former-tourism-kiosk-in-eyre-square/

 

• Limerick residents protest demolition of houses as city’s homeless numbers ‘spiral’  https://www.breakingnews.ie/ireland/limerick-residents-protest-demolition-of-houses-as-citys-homeless-numbers-spiral-1323615.html

 

• Another part of the Tralee-Fenit Greenway will be opened to the public this weekend.  http://traleetoday.ie/part-of-tralee-fenit-greenway-set-to-be-opened-at-the-weekend/

 

• 10 Irish camping and glamping experiences for an amazing summer staycation https://www.irishexaminer.com/lifestyle/travel/arid-40898399.html

 

• MAYO County Council is putting together a submission for Ballina to be one of six Irish towns/cities selected to take part in a new night-time economy pilot programme. https://www.con-telegraph.ie/2022/06/21/night-time-economy-proposal-for-mayo-town/

 

 

 

*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

 

 

• Land scarcity, planning issues and spiralling costs delay delivery of new homes: Government must engage with construction sector to meet target of 35,000 new homes per annum  https://www.irishtimes.com/property/commercial-property/2022/06/21/land-scarcity-planning-issues-and-spiralling-costs-delay-delivery-of-new-homes/

 

• Asbestos: Calls for awareness over exposure-related deaths in Northern Ireland  https://www.bbc.com/news/uk-northern-ireland-61598483.amp

 

• Paul Hyde was appointed to planning board after defunct body nominated him https://www.irishexaminer.com/news/arid-40899875.html

 

• ‘Majority of homes damaged by defective blocks need to be knocked down’: Expert on concrete technology says if there are cracks in the walls ‘and at the same time you have internal sulphates discovered… you don’t have an option – you have to demolish’  https://www.businesspost.ie/news/majority-of-homes-damaged-by-defective-blocks-need-to-be-knocked-down/

 

• Drop in orders at Kingspan points to broader slowdown in European construction sector  https://m.independent.ie/business/irish/drop-in-orders-at-kingspan-points-to-broader-slowdown-in-european-construction-sector-41771315.html Also, Insulation giant Kingspan left exposed to the elements — and rare market backlash: Analysts debate whether profit warning points to sector-wide issues or to weakness in non-residential construction https://www.irishtimes.com/business/2022/06/24/insulation-giant-kingspan-left-exposed-to-the-elements-and-a-rare-market-backlash/ 

 

• Experts raised questions over ‘ambitious’ €450m subsidised homes plan: Records reveal that property industry and banking sector lobbyists at a ‘stakeholder engagement meeting’ questioned the Croí Cónaithe scheme’s ‘ambitious’ timeline and raised concerns about overall demand for apartments  https://www.businesspost.ie/news/experts-raised-questions-over-ambitious-e450m-subsidised-homes-plan/

 

• Developer rails against ‘diabolical’ process as Coolock housing plan is rejected: Having rezoned the former Chivers factory site from commercial to residential, developer Andrew Gillick wanted to build 550 affordable units for ‘normal people’. But then began a long and ill-fated email exchange with the Land Development Agency  https://www.businesspost.ie/news-focus/developer-rails-against-diabolical-process-as-coolock-housing-plans-fall-through/

 

• The smoking area behind Fibber Magees, The Living Room, and Murray’s are all to be shut down for the foreseeable future to facilitate an extension to the Holiday Inn Express on O’Connell Street. https://www.joe.ie/news/fibber-magees-smoking-area-750208

 

• Landmark Quinn’s pub building: The appeals board refused planning permission, saying the building “makes a positive contribution to the streetscape character and identity of the area”.  https://www.thejournal.ie/quinns-pub-saved-from-being-demolished-5798165-Jun2022/

 

• Fast-track planning granted for 872 housing units and 238 student bed spaces: Two separate decisions made on Strategic Housing Development schemes https://www.irishtimes.com/business/2022/06/22/fast-track-planning-granted-for-872-housing-units-and-238-student-bed-spaces/ 

 

• Dairy giant milks its assets with €237m housing development  https://m.independent.ie/irish-news/news/dairy-giant-milks-its-assets-with-237m-housing-development-41777039.html

 

• Building the hub that ties Cork’s future together: With 1 Horgan’s Quay and the Dean Cork already bustling with activity, further developments in the area are ensuring that it will become a space for all  https://www.businesspost.ie/commercial-reports/building-the-hub-that-ties-corks-future-together/

 

• Plans lodged for more than 700 homes in East Cork: The plans have sparked concerns from some councillors in the municipal district. https://www.echolive.ie/corknews/arid-40902641.html

 

• From Square Deal to student deals: €35m Bróga House is nearing completion – Cork city is set to add more than 1,000 student beds to the system in time for the next academic year  https://www.irishexaminer.com/property/developmentconstruction/arid-40901402.html

 

• Ireland’s newest hotel opening date as local village gets badly needed 80-roomer: The plans were refused back in 2018 but were given a second look  https://www.galwaybeo.ie/news/galway-news/irelands-newest-hotel-opening-date-7243517

 

• Galway City Council pulls the plug on social housing building site  https://connachttribune.ie/galway-city-council-pulls-the-plug-on-social-housing-building-site/amp/

 

• Plans for major apartment block at former Ó hUiginn site in Shantalla  https://galwaybayfm.ie/galway-bay-fm-news-desk/plans-for-major-apartment-block-at-former-o-huiginn-site-in-shantalla/

 

• Limerick to get new €150m hospital after planning approved: 150-bed private hospital built on behalf of Bon Secours Health System  https://www.irishexaminer.com/news/munster/arid-40899593.html

 

• Over 130 new homes planned for Limerick city  https://www.limerickleader.ie/news/home/840802/over-130-new-homes-planned-for-limerick-city.html

 

• Court challenge over residential development next to Kilkenny period home  https://www.breakingnews.ie/ireland/court-challenge-over-residential-development-next-to-kilkenny-period-home-1323770.html

 

• An Bord Pleanála gives go-ahead to Longford developer for €100m Athlone student campus development  https://www.longfordleader.ie/news/home/842519/breaking-an-bord-pleanala-gives-go-ahead-to-longford-developer-for-100m-athlone-student-campus-development.html

 

• Creche plan for former Mayo pub property turned down  https://www.con-telegraph.ie/2022/06/23/creche-plan-for-former-mayo-pub-property-turned-down/

 

• PLANS for a multi-million euro expansion at the Meissner Filtrations Products plant in Castlebar have received the green light from Mayo County Council. https://www.con-telegraph.ie/2022/06/23/go-ahead-for-e95-million-meissner-expansion-in-mayos-county-town/

 

• Former Mayo builder’s yard set to be revitalised by new homes  https://www.con-telegraph.ie/2022/06/25/former-mayo-builders-yard-set-to-be-revitalised-by-new-homes/

 

• Planning permission granted for construction of 14 dwellings in Belturbet  https://www.northernsound.ie/news/planning-permission-granted-for-construction-of-14-dwellings-in-belturbet-197079

 

• Works began on building 65 houses in Kerry during May  https://www.radiokerry.ie/news/works-began-on-building-65-houses-in-kerry-during-may-286580

 

• Sale agreed on Kerry site once planned to be children’s respite centre  https://www.radiokerry.ie/news/sale-agreed-on-kerry-site-once-planned-to-be-childrens-respite-centre-286352

 

• Grant has announced its membership of Octabuild in a move that will see the company strengthen its relations in the building and construction industry and showcase its award-winning home heating technologies.  https://www.offalyindependent.ie/2022/06/22/grant-joins-octabuild/

 

• Designer Group nets €17m in Sisk joint venture sell-off  https://www.thetimes.co.uk/article/designer-group-nets-17m-sisk-joint-venture-sell-off-5v5jvmdmx

 

• Who is Ardstone? Part 1: A decade of office deals from Dublin to Barcelona – Behind a leafy façade in Georgian Dublin, a small team has been instrumental in directing global institutional investors towards Irish property development. https://thecurrency.news/articles/87420/who-is-ardstone-part-1-a-decade-of-office-deals-from-dublin-to-london-and-barcelona/

 

• Walls appointed to LDA’s first affordable housing project  https://irishbuildingmagazine.ie/2022/06/23/walls-appointed-to-ldas-first-affordable-housing-project/

 

• Hibernia delists from stock exchange as €1.1bn Brookfield deal closes https://m.independent.ie/business/irish/hibernia-delists-from-stock-exchange-as-11bn-brookfield-deal-closes-41770133.html

 

• One of the most recognisable names in Irish construction, JJ Rhatigan is on a mission to build a better future and looking for the next generation of talent to help deliver its €1.5 billion pipeline of projects  https://www.businesspost.ie/commercial-reports/firm-foundations-for-continuing-growth/

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

 

• 6 Ireland-based GreenTech Startups Revolutionizing Climate Impact  https://startuptoenterprise.com/business-news/6-ireland-based-greentech-startups-revolutionizing-climate-impact/

 

• FlowForma Raises €4m And Creates 70 Jobs In New Phase Of Growth And Global Expansion https://www.flowforma.com/news/flowforma-new-phase-of-growth-and-global-expansion

 

• THE former directors of Co Tyrone modular construction group McAvoy have announced a £500,000 investment in a new modular building start-up. Conor McAvoy and sister Orla McAvoy-Corr left the former family-owned business in April 2021, just over a year after it was acquired by London-based private equity firm Blantyre Capital. Started by their late father Seamus McAvoy in 1972, the construction company had operated in the Coalisland and Dungannon area for almost 50 years. https://www.irishnews.com/business/2022/06/25/news/mcavoy-siblings-return-to-their-roots-with-new-modular-building-start-up-2753918/

 

• Proptech boss: The sellers’ market isn’t dead yet  https://www.estateagenttoday.co.uk/breaking-news/2022/6/proptech-boss-the-sellers-market-isnt-dead-yet?source=newsticker

 

• UK-based volumetric modular house builder TopHat is to open an enormous new housing factory in Northamptonshire next year. https://www.constructionenquirer.com/2022/06/20/modular-specialist-tophat-to-open-vast-housing-factory/

 

• PropTech supplier Inventorybase has drawn up a league table of what it calls the private rental sector’s most complained about issues.  https://www.landlordtoday.co.uk/breaking-news/2022/6/landlords-biggest-worries-identified-by-proptech-site

 

• Proptech lender Kiavi CEO Michael Bourque talks growth amid latest financing in difficult market – San Francisco Business Times https://www.bizjournals.com/sanfrancisco/news/2022/06/23/kiavi-michael-bourque-real-estate-investors-loans.html

 

• Concrete Ventures targets £86m for proptech investment fund  https://www.uktech.news/proptech/concrete-ventures-86m-20220622

 

• Sequoia Capital India and Founders Fund back UAE-based proptech startup Huspy in its $37M round  https://techcrunch.com/2022/06/20/sequoia-capital-india-and-founders-fund-back-uae-proptech-startup-huspy-in-its-37m-round/amp/

 

• Proptech Bubble Deflates As Startups Swallow Lower Valuations  https://www.bisnow.com/national/news/proptech/proptech-bubble-deflates-as-startups-swallow-lower-valuations-113506 

 

• Openn Negotiation makes strong progress with PropTech activities in North America: The company’s property technology aims to improve transparency in real estate transactions for the benefit of buyers, sellers and real estate agents through proprietary tech https://www.proactiveinvestors.com.au/companies/amp/news/985194

 

• Proptech and the future of the renovation marketplace  https://renx.ca/podcast-proptech-future-home-renovation-marketplace/

 

• US proptech HomeLight acquires Accept, raises $115m at $1.7bn valuation https://www.fintechfutures.com/2022/06/us-proptech-homelight-acquires-accept-raises-115m-at-1-7bn-valuation/

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Ireland’s most expensive postcode to buy a property — and the cheapest: Average prices in Dublin 4 are now close to €1m, but in Roscommon prices are in low six figures https://www.irishtimes.com/life-style/2022/06/25/irelands-most-expensive-postcode-to-buy-a-property-and-the-cheapest/

 

• Median asking price for a house in Ireland rises almost 11% to €320,000: Meanwhile the median asking price for a house in Dublin rose almost 8 per cent in the 12 months to June to €403,000 https://www.buzz.ie/news/irish-news/median-asking-price-house-ireland-27316574.amp

 

• Don’t get excited about the slowdown of property price rises — demand is still too high for a big drop  https://www.thetimes.co.uk/article/dont-get-excited-about-the-slowdown-of-property-price-rises-demand-is-still-too-high-for-a-big-drop-zfx9n6hr7

 

• Irish house prices running 40% above long-term link to income: Home prices rose a further 2.2 per cent between December and the end of April  https://www.irishtimes.com/business/economy/2022/06/20/irish-house-prices-running-40-above-long-term-link-to-income/

 

• Age of house buyers rises with most transactions involving two people: CSO figures chart changing profile of home-buyers in Republic in past decade  https://www.irishtimes.com/business/economy/2022/06/20/average-age-of-home-buyers-rises-while-most-transactions-involve-two-people/

 

• Income of typical homebuyers hits €81,500 as single buyers squeezed out  https://m.independent.ie/business/personal-finance/property-mortgages/income-of-typical-homebuyers-hits-81500-as-single-buyers-squeezed-out-41770075.html

 

• Stark future of having to rent your home…for life https://extra.ie/2022/06/24/news/stark-future-of-having-to-rent-your-home

 

• One in five with mortgage approval failing to secure a home due to excess demand  https://www.irishexaminer.com/news/arid-40902515.html

 

• Third of recipients of Help to Buy scheme did not need it to meet 10% deposit requirement  https://www.irishexaminer.com/news/arid-40903052.html

 

• Taxing vacant property out of existence make no sense and will only worsen inflationary pressures: Ireland is suffering rampant house price and rent inflation, which means we have too few vacant units, not too many  https://www.irishtimes.com/business/economy/2022/06/20/taxing-vacant-property-out-of-existence-make-no-sense-and-will-only-worsen-inflationary-pressures/

 

But…

• Census shows 166,000 vacant properties in Ireland, with over 48,000 vacant for six years: Vacant property levels have fallen 9% since 2016.  https://www.thejournal.ie/vacant-properties-cso-5797970-Jun2022/

 

• Vacant properties ‘not silver bullet’ to housing crisis, expert warns: Preliminary data from Census 2022 shows number of vacant dwellings in State stands at 166,752  https://www.irishtimes.com/ireland/housing-planning/2022/06/24/vacant-properties-not-silver-bullet-to-housing-crisis-expert-warns/

 

• Stopping landlords leaving the market ‘critical’ to address housing crisis: Accountancy body calls for tax cuts for individual landlords  https://www.irishexaminer.com/business/economy/arid-40902269.html

 

• Seven options the Government might consider to ease the tax burden chasing smaller landlords out of the market  https://www.irishtimes.com/your-money/2022/06/21/tax-incentives-for-landlords-how-very-1990s/

 

• Airbnb to block landlords who breach letting laws: Company wants Government reforms so it can ban non-registered property owners from its website https://m.independent.ie/business/personal-finance/property-mortgages/airbnb-to-block-landlords-who-breach-letting-laws-41769312.html 

 

 

• New register for short-term rentals due to open before the end of 2022  https://m.independent.ie/irish-news/news/new-register-for-short-term-rentals-due-to-open-before-the-end-of-2022-41772319.html

 

• Homes placed on Airbnb after Kildare tenants evicted:  There is no record of any properties renting in excess of 90 days having applied for a change of use permission.  https://www.kildarenow.com/news/home/843674/homes-placed-on-airbnb-after-kildare-tenants-evicted.html

 

• Limerick estate ready to start its next historic chapter as it goes up for sale https://www.limerickleader.ie/news/home/843553/limerick-estate-ready-to-start-its-next-historic-chapter-as-it-goes-up-for-sale.html 

 

• Waterford house prices see ‘aggressive rise’ over last year, latest report shows https://www.waterfordlive.ie/news/home/844904/waterford-house-prices-see-aggressive-rise-over-last-year-latest-report-shows.html

 

• This rare protected home in Waterford is on the market for €150,000: The home dates back to 1899 and has a beautiful, timber frame structure https://www.rsvplive.ie/life/gallery/rare-protected-home-waterford-market-27322674.amp 

 

• Buy a home for less than €100k: With a little vision and some work, it is possible to buy a cheap house in Ireland. The property expert Maggie Molloy picks five on sale for under €100,000, assessing everything from broadband to electrics  https://www.thetimes.co.uk/article/buy-a-home-for-less-than-100k-2gmfclzcd

 

• Why trade down when you can profitably split up instead?  https://m.independent.ie/life/home-garden/homes/mark-keenan-why-trade-down-when-you-can-profitably-split-up-instead-41784733.html

 

• House prices and sales surge in Portlaoise but lag in rural Laois: Towns bordering Kildare and Carlow also strong  https://www.leinsterexpress.ie/news/local-news/840790/house-prices-and-sales-surge-in-portlaoise-but-lag-in-rural-laois.html

 

• In a radon hotspot? How to test and how much it will cost:?Cancer-causing radon gas is much more prevalent than previously thought, so it might be time to find out if your home is at risk  https://www.irishtimes.com/life-style/2022/06/25/radon/

 

• Niall Horan sells Irish mansion weeks after putting property on the market: Niall purchased the house 5 years ago  https://www.dublinlive.ie/news/property/niall-horan-sells-irish-mansion-24313464.amp

 

• A house in County Cork for €70,000?  https://www.thecork.ie/2022/06/19/a-house-in-county-cork-for-e70000/

 

• Your guide to the residences on sale around the country: Business Post pick of the property you should be looking at this week  https://www.businesspost.ie/property/your-guide-to-the-residences-on-sale-around-the-country-2/

 

• Davies expands property loss adjusting expertise in Ireland  https://www.intelligentinsurer.com/news/davies-expands-property-loss-adjusting-expertise-in-ireland-29627

 

 

COMMERCIAL PROPERTY NEWS

• Ronan’s refinancing of properties in receivership will enable Fortress to stay on: RGRE has bid for Citigroup’s Dublin base as it pitches to move US bank’s local workforce to planned Waterfront scheme  https://www.irishtimes.com/business/financial-services/2022/06/22/ronans-refinancing-of-properties-in-receivership-will-enable-fortress-to-stay-on/

 

• Irish hotel investment transactions soar above pre-Covid levels: The largest transaction was for Dublin Loft’s Hendrick in Smithfield which was bought by US investment firm TPG for around €37.5m  https://m.independent.ie/business/commercial-property/irish-hotel-investment-transactions-soar-above-pre-covid-levels-41786126.html

 

• Aviva Investors, the global asset management business of Aviva plc, has announced that it has acquired a hotel building currently under construction in the heart of Dublin, on behalf of its European Real Estate Long Income (E-RELI) Fund.  https://www.hospitalityireland.com/amp/hotel/aviva-investors-e-reli-fund-acquires-dublin-hotel-177662

 

• Online and physical stores have a surprising symbiosis: Fresh data shows us that sales from online retailers don’t cannibalise offline sales – indeed, the opposite seems to be the case  https://www.businesspost.ie/property/online-and-physical-stores-have-a-surprising-symbiosis/

 

• Film maker to sell Capel St premises with showbiz links  https://m.independent.ie/business/commercial-property/film-maker-to-sell-capel-st-premises-with-showbiz-links-41780441.html

 

• Modern light industrial unit in D11 comes to market: Unit 6D at Rosemount Business Park on the Ballycoolin Road has a guide price of €985,000 https://www.businesspost.ie/property/modern-light-industrial-unit-in-d11-comes-to-market/

 

• High-profile showroom on M7 motorway on offer for €1.25m: The property at Newlands Cross in Dublin 22 comprises a modern two-storey showroom building currently in use as a motor dealership https://www.businesspost.ie/property/high-profile-showroom-on-m7-motorway-on-offer-for-e1-25m/

 

• The Sazerac Company has just inked a deal to purchase the Lough Gill Distillery in County Sligo, Ireland.  https://www.forbes.com/sites/bradjaphe/2022/06/20/buffalo-trace-parent-company-announces-a-new-home-in-irish-whiskey/amp/

 

• Seán Gallagher’s Clyde Real Estate sells prime office to French investor for €14.7m: French investor Corum Asset Management increases overall value of Irish portfolio to more than €300m with acquisition of Dromore House  https://www.irishtimes.com/property/commercial-property/2022/06/22/sean-gallaghers-clyde-real-estate-sells-shannon-office-block-for-147m/

 

• Fine Grain Property completes sale and leaseback deal with AXA Partners at Westpark Innovation Campus, Shannon, Co. Clare – IrishRealEstate.news https://www.irishrealestate.news/fine-grain-property-completes-sale-and-leaseback-deal-with-axa-partners-at-westpark-innovation-campus-shannon-co-clare/ 

 

• Midlands warehouses for sale or lease through BV Commercial: Agent is handling sale of substantial units in counties Roscommon, Tipperary and Offaly  https://www.businesspost.ie/property/midlands-warehouses-for-sale-or-lease-through-bv-commercial/

 

• Three Irish Accommodation Properties Being Sold  https://www.hospitalityireland.com/amp/hotel/three-irish-accommodation-properties-being-sold-177427

 

INTERNATIONAL PROPERTY NEWS

• The World’s Bubbliest Housing Markets Are Flashing Warning Signs: Global monetary tightening is squeezing homebuyers, adding risks that a slowdown could ripple through the economy.   https://www.bloomberg.com/news/features/2022-06-21/cooling-real-estate-markets-in-us-uk-risk-deeper-global-economic-slump

 

• Are the Days of UK Property Booms and Busts Over?  https://www.washingtonpost.com/business/are-the-days-of-uk-property-booms-and-busts-over/2022/06/20/a8a2465c-f056-11ec-ac16-8fbf7194cd78_story.html

 

• Home working could make up to a fifth of London office space redundant: Workplace flexibility may leave blocks empty across south-east England, survey reveals  https://www.theguardian.com/business/2022/jun/24/home-working-make-fifth-london-office-space-redundant

 

• A Passivhaus school, London social housing and a medieval dining hall are among the winners of the Royal Institute of British Architects’ National Awards for 2022.  https://www.dezeen.com/2022/06/23/riba-national-awards-best-british-buildings-2022/

 

• Special forces veterans have abseiled down a grade II listed London building as part of an operation to evict squatters.  https://www.thetimes.co.uk/article/special-forces-veterans-evict-squatters-from-london-property-m6xfv03f6

 

• Schitt’s Creek’s Rose Apothecary Building Hits The Market For $2.35M  https://storeys.com/schitts-creek-rose-apothecary-for-sale/

 

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/