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: 

 

• Government’s €12bn-a-year housing plan aims to ‘finally get to grips’ with crisis  https://www.breakingnews.ie/amp/ireland/governments-e12bn-a-year-housing-plan-aims-to-finally-get-to-grips-with-crisis-1144750.html

 

• Planning consultant Tom Phillips claimed that if the issue of High Court judicial review challenges against “fast track” housing developments isn’t tackled by Government the supply of housing will be “strangled”, after it emerged that the Government plans to speed up the planning process and make it more difficult for legal challenges to halt housing and other developments https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/planning-expert-claims-housing-supply-will-be-strangled-by-judicial-reviews-1.4602784?mode=amp

 

• Sinn Féin has opposed building of 6,000 homes across Dublin, says Fine Gael report: Work blocked at sites such as Ballymastone, O’Devaney Gardens and Oscar Traynor, Government party says https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/news/politics/sinn-f%C3%A9in-has-opposed-building-of-6-000-homes-across-dublin-says-fine-gael-report-1.4602893?mode=amp

 

• Cowen calls for ban on judicial reviews of housing projects: Fianna Fáil TD said emergency action was needed to stop legal actions from stalling developments https://www.businesspost.ie/legal/cowen-calls-for-ban-on-judicial-reviews-of-housing-projects-28954df8

 

• ‘Too many frivolous challenges’ being made to planning decisions: Minister Burke said a government review of the planning process could result in the setting-up of a dedicated planning court as well as changes to how the costs of these cases are arrived at https://www.businesspost.ie/houses/burke-says-too-many-frivolous-challenges-being-made-to-planning-decisions-a473e610

 

• Housing policy is stuck in a dead-end street https://www.thetimes.co.uk/article/housing-policy-stuck-ireland-affordable-flats-gerard-howlin-jmb970dx3

 

• Beware all politicians’ promises on housing crux: Finding a timely solution to the lack of housing supply is the defining political challenge of this generation https://m.independent.ie/opinion/editorial/beware-all-politicians-promises-on-housing-crux-40560499.html

 

• Scale of housing crisis obscured by ministers, says report https://www.thetimes.co.uk/article/scale-of-housing-crisis-obscured-by-ministers-says-report-kc9zkjdfd

 

• Irish housing targets require far more foreign investment, says IIP report:  International finance will need to increase from an average of €1.7 billion to €7 billion per year to achieve the target of 30,000 housing units annually. https://www.thetimes.co.uk/article/irish-housing-targets-require-far-more-foreign-investment-says-report-3kdltg62k

 

• Financial Incentive For Property Services | Estate Agents And Property Services Employers In The South Of Ireland Encouraged To Hire Apprentices To Avail Of Financial Incentive Ahead Of June Deadline https://www.spinsouthwest.com/news-and-sport/houses-money-1214283

 

• Persimmon and Aviva agree moves over UK ground rent and lease terms https://www.irishtimes.com/business/financial-services/persimmon-and-aviva-agree-moves-over-uk-ground-rent-and-lease-terms-1.4601186?mode=amp

 

• Cork city’s architecture, design and food festival, Design POP, is set to return to the streets of Cork and online this August: https://www.irishrealestate.news/design-pop-programme-announcement/

 

 

• The Irish Times Planning process set for major review by Attorney General https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/news/politics/planning-process-set-for-major-review-by-attorney-general-1.4601769?mode=amp

 

• We need to talk about proptech. https://youtu.be/5gIMSWRjhXA  Time for reality to match rhetoric on R&D investment https://www.irishtimes.com/business/economy/time-for-reality-to-match-rhetoric-on-r-d-investment-1.4596237?mode=amp

 

• Social Media Trends for Real Estate 2021 https://propertydistrict.ie/social-media-trends-for-estate-agents-2021/ 

 

via GIPHY

 

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

 

As always, you might let me know if I have missed out on any relevant property news by emailing  carol@caroltallon.com

 

(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)

 

 

 

 

SUNDAY LISTEN

 

Property Matters: Ireland’s First Weekly Property Radio Show & Podcast

 

Ireland’s first weekly property radio show, Property Matters, launched In January 2019 on 

Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com). The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech.

 

Property Matters, June 22nd: Affordable housing, NIMBY-ism and housing policies that work   

 

On #PropertyMatters iPropertyRadio.com this week I had the opportunity to speak to the inspiringly sensible Anya Martin, housing advocate with PricedOut.org and London YIMBY about affordable housing, flawed policymaking, NIMBY-ism, the dangers of polarising different solution providers and the potential power of communities.

 

Watch back: https://youtu.be/vmo5JbjKC0g

 

 

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

 

Email the Property Matters team at info@propertydistrict.ie 

 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

• Dublin fourth most expensive city in euro zone for expats, survey finds https://www.breakingnews.ie/business/dublin-fourth-most-expensive-city-in-euro-zone-for-expats-survey-finds-1145337.html

 

• Hammerson development on 1916 site will add €1bn to economy – report: Relatives group calls for rejection of plan for historic area off Dublin’s O’Connell Street https://www.irishtimes.com/business/economy/hammerson-development-on-1916-site-will-add-1bn-to-economy-report-1.4600641?mode=amp

 

• Blackrock residents challenge permission for 101 apartments: An Bord Pleanála approved Seabren’s plan for former Europa Garage site https://www.irishtimes.com/business/commercial-property/blackrock-residents-challenge-permission-for-101-apartments-1.4601534?mode=amp

 

• Dún Laoghaire pedestrianisation to go-ahead next month: Public Consultation found 70 per cent in favour of car-free street plan https://www.irishtimes.com/news/environment/d%C3%BAn-laoghaire-pedestrianisation-to-go-ahead-next-month-1.4602742?mode=amp

 

•  City and county: Amenities add to Cork’s appeal as a place to work and live https://www.irishexaminer.com/news/spotlight/arid-40317050.html Also: People at the core of Cork city future development plans https://www.irishexaminer.com/news/spotlight/arid-40317062.html?type=amp

 

• Route chosen for Mallow bypass; construction due to start in 2025 https://www.irishexaminer.com/news/munster/arid-40319795.html

 

• Twitter user creates ‘fantasy Cork Metro map’ and we’re obsessed https://www.corkbeo.ie/news/local-news/twitter-user-creates-fantasy-cork-20878971

 

• Cork tunnel gets makeover with ‘transformative’ new mural https://www.corkbeo.ie/news/local-news/cork-tunnel-gets-makeover-transformative-20875401

 

• Major streetscape upgrade to boost Cobh’s economy https://www.irishexaminer.com/news/munster/arid-40319963.html

 

• New report finds strong business case for restoration of Galway to Mayo rail link as part of the wider Atlantic Railway Corridor at a cost of €154 million https://www.con-telegraph.ie/2021/06/21/new-report-finds-strong-business-case-for-restoration-of-galway-to-mayo-rail-link/

 

• Limerick: the innovation capital  https://www.businesspost.ie/commercial-reports/limerick-the-innovation-capital-204a72b8

 

• Wicklow Co Council fails to acquire access to land leading to popular beach https://www.irishtimes.com/news/environment/wicklow-co-council-fails-to-acquire-access-to-land-leading-to-popular-beach-1.4603445?mode=amp&__twitter_impression=true

 

• What #NIMBY looks like – Compensate UK homeowners for new housing developments “Homeowners whose views or peace and quiet are affected by new developments would receive cash compensation under proposals put forward by Tory backbenchers. Steve Baker, the veteran Conservative rebel, will urge ministers today to stop “trespassing on existing property owners” and accept that enough new homes will never be built unless there is something in it for those who already own a house…” https://www.thetimes.co.uk/article/7c92a10a-d27b-11eb-b50d-ece47261907f?shareToken=b2669ba4c0159673f7d72d2fb8b287a4

 

• A changing landscape for telecom landlords | Experience has shown the team at APWireless, based in Galway, that telecom landlords often lack the specialist up-to-date market information required when negotiating with their tenants https://www.businesspost.ie/commercial-reports/a-changing-landscape-for-telecom-landlords-afb48a34

 

 

*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details*

 

 

 

 

CONSTRUCTION & DEVELOPMENT NEWS

 

• Urgent action required to reduce unusually high cost of building, says Davy report:  “Irish housing supply looks puzzlingly weak, given current levels of house prices.” https://m.independent.ie/business/personal-finance/property-mortgages/urgent-action-required-to-reduce-unusually-high-cost-of-building-says-davy-report-40574176.html

 

• Statute of limitations over defective building materials may be extended: Plan could enable action against builders and suppliers over longer time frame https://www.irishtimes.com/news/politics/statute-of-limitations-over-defective-building-materials-may-be-extended-1.4598774?mode=amp

 

• Government to continue letting builders of one-off houses opt out of professional checks: A special exemption was brought in for one-off homes in 2015 so that the owners would not have to pay the professional certification fees https://www.businesspost.ie/houses/government-to-continue-letting-builders-of-one-off-houses-opt-out-of-professional-checks-43c35544

 

• IDA Ireland – New strategy for post-pandemic recovery and sustainable growth and what this will mean for the Irish construction industry https://www.irishbuildingmagazine.ie/2021/06/21/ida-ireland-meeting-the-property-and-construction-needs-of-multinationals/

 

• Time to get serious about addressing the housing crisis: Michael O’Flynn, Chairman and CEO of O’Flynn Group, says Ireland’s phased approach to tackling Covid is a model for solving the housing crisis https://www.irishexaminer.com/property/arid-40321598.html?type=amp

 

• Law of unintended consequences… Housing: Builders should be working ‘directly for the State’ to solve crisis | Newstalk https://www.newstalk.com/news/builders-should-be-supplying-housing-directly-for-the-state-to-solve-property-crisis-1214933

 

• Explainer: How an ownership row is still holding back Ireland’s new National Maternity Hospital: The Tánaiste has even raised the prospect of building the hospital elsewhere https://www.thejournal.ie/national-maten-5472555-Jun2021/?amp=1

 

• New National Children’s Hospital will not be complete until 2024 at the earliest https://www.irishexaminer.com/news/arid-40322714.html

 

• An Bord Pleanala has given the green light to contentious plans for a nine-storey office block at Moira House on Dublin’s Trinity Street and Andrew’s Lane off Dame Street https://www.breakingnews.ie/business/contentious-office-block-plan-for-dublin-city-centre-gets-go-ahead-1145799.html

 

• Esprit Investments owned by the Jones Engineering founder Eric Kinsella has been denied planning permission to demolish a two-storey warehouse/office building at Grafton House in Sandyford Business District and construct a nine-storey 124-suite aparthotel https://www.thetimes.co.uk/article/esprit-denied-over-aparthotel-plans-zmp0sx9dd

 

• Permission granted for controversial €25m Ballsbridge co-living scheme: Board ignored recommendation of own inspector that approval for project be refused https://www.irishtimes.com/business/construction/permission-granted-for-controversial-25m-ballsbridge-co-living-scheme-1.4601218?mode=amp

 

• European Parliament approves €42.7m deal for Chatham House: Lioncor to begin construction of new Dublin HQ and interactive visitor centre for EU https://www.irishtimes.com/business/commercial-property/european-parliament-approves-42-7m-deal-for-chatham-house-1.4600527?mode=amp

 

• Kennedy Wilson begins work on offices at new Dublin docklands scheme: Coopers Cross campus at North Wall Quay to comprise 395,000sq ft of commercial space https://www.irishtimes.com/business/commercial-property/kennedy-wilson-begins-work-on-offices-at-new-dublin-docklands-scheme-1.4598532?mode=amp

 

• Ronan Group to demolish upper floors of partly built Spencer Block: Plan for 464 apartments and 200 co-living units blocked in courts in latest round of legal wrangling with Dublin City Council https://www.businesspost.ie/companies/ronan-group-to-demolish-upper-floors-of-partly-built-spencer-block-cd78f4ee

 

• Glenveagh sells planned hotel at Dublin site to German fund for €70m: Property firm says 262-bedroom Premier Inn hotel sold to German-based Union Investment https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/glenveagh-sells-planned-hotel-at-dublin-site-to-german-fund-for-70m-1.4603257?mode=amp

 

• Goatstown site ‘can’t stay like it is with donkeys and goats on it’: Charlie Chawke: ‘I have invested all my savings in it. Every bob I had is gone into it’ https://www.irishtimes.com/business/transport-and-tourism/goatstown-site-can-t-stay-like-it-is-with-donkeys-and-goats-on-it-1.4599609?mode=amp

 

• DB Schenker pays €5.7m for logistics site at Liffey Business Campus: New warehouse and office to support growth of firm’s customers in technology and health https://www.irishtimes.com/business/commercial-property/db-schenker-pays-5-7m-for-logistics-site-at-liffey-business-campus-1.4600426?mode=amp

 

• Brand new hotel worth €30 million to be built in Dublin creating over 200 jobs: The area is not too far from O’Connell Street in the city centre and the hotel will replace a former bakery on Capel Street https://www.dublinlive.ie/news/dublin-news/hotel-dublin-creating-jobs-hospitality-20886718.amp

 

• Kinsealy and Delgany residential sites from €1.9m to €5.75m: Lands in north Dublin and north Wicklow have scope for schemes of 32 and 58 houses https://www.irishtimes.com/business/commercial-property/kinsealy-and-delgany-residential-sites-from-1-9m-to-5-75m-1.4599413?mode=amp

 

• Growth of Delgany continues as more lands come for sale – Around the Block: Once-sleepy Wicklow village follows Greystones’s lead as hundreds of new houses planned https://www.irishtimes.com/life-and-style/homes-and-property/growth-of-delgany-continues-as-more-lands-come-for-sale-1.4601257?mode=amp

 

• Judicial review of Cork’s €100m Kildare Village-style outlet centre to be heard in October https://www.irishexaminer.com/news/munster/arid-40318766.html

 

• Hermit nun fined €500 over unauthorised development in rural Co Cork: Case against Sr Irene Gibson related to erection of chapel and other structures in Leap https://www.irishtimes.com/news/crime-and-law/courts/district-court/hermit-nun-fined-500-over-unauthorised-development-in-rural-co-cork-1.4600379?mode=amp

 

• City Hall moving to place former landmark Cork hotel on the derelict sites register https://www.echolive.ie/corknews/arid-40321913.html

 

• New high-bay warehouse development launched in Cork business park: Project at Watergrasshill Business Park has FPP for four units with total floor area of 18,580 square metres across detached buildings https://www.businesspost.ie/commercial/new-high-bay-warehouse-development-launched-in-cork-business-park-a6752f86

 

• Hundreds of new apartments in Galway will not be available to buy: The backer of the Crown Square scheme in Mervue is planning a massive ‘build to rent’ housing scheme as part of the development, with 345 apartments. Padraic Rhatigan was previously granted permission for 288 apartments on the site but has now applied for a modified and higher-density development, with blocks ranging from four to nine storeys in height. https://connachttribune.ie/hundreds-of-new-apartments-in-galway-will-not-be-available-to-buy/

 

• Galway City Council has turned down scaled-back plans for a 10-storey hotel at Galway Docks, branding it “excessive” https://connachttribune.ie/excessive-galway-docks-hotel-rejected-by-planners/

 

• Three tenders received by Galway County Council for bypass of Moycullen  https://galwaybayfm.ie/galway-bay-fm-news-desk/three-tenders-received-by-galway-county-council-for-bypass-of-moycullen/amp/

 

• Aldi submits plan to expand store at Galway Retail Park https://connachttribune.ie/aldi-submits-plan-to-expand-store-at-galway-retail-park/amp/

 

• Blessington land with full planning for 56 new homes seeks €4.5m: Site in established commuter town has approval for 54 houses and two apartments https://www.irishtimes.com/business/commercial-property/blessington-land-with-full-planning-for-56-new-homes-seeks-4-5m-1.4599295?mode=amp

 

• DB Schenker completes purchase of 14 acres at Liffey Business Campus: Global logistics provider will use 20,345 square metres site to support growth of customers in technology and healthcare markets https://www.businesspost.ie/commercial/db-schenker-completes-purchase-of-14-acres-at-liffey-business-campus-00e05c02

 

• Lidl ‘On Track’ To Secure €11m Investment In Clonshaugh Store | Checkout https://www.checkout.ie/amp/retail/lidl-ireland-announces-e11m-investment-clonshaugh-store-137367

 

• Lidl refused planning for new €10m store on Athlone’s Dublin Road https://www.westmeathindependent.ie/2021/06/25/lidl-refused-planning-for-new-e10m-store-on-athlones-dublin-road-2/

 

• Two Statkraft Irish wind farms to be generating power by end of 2022:  Construction has just begun on the nine-turbine Cloghan project in Co Offaly after works got under way at the Taghart wind farm in Co Cavan at the start of the year. https://m.independent.ie/irish-news/twostatkraft-irish-wind-farmsto-be-generating-powerby-end-of-2022-40560689.html

 

• Fortwell Capital provides €21m construction loan for Red Rock Developments: British-based lender seeking to establish €300m Irish loan book and is structuring loan sizes of €10m to €50m https://www.businesspost.ie/commercial/fortwell-capital-provides-eur21m-construction-loan-for-red-rock-developments-605c4968

 

• Meet the New Yorkers who are building homes in Limerick and creating up to 100 jobs https://www.limerickleader.ie/news/home/642744/meet-the-new-yorkers-who-are-building-homes-in-limerick-and-creating-up-to-100-jobs.html

 

• Future is bright at Kirby Group Engineering: Ruairí Ryan’s new position as business unit leader to the Munster region for the Limerick company brings him back to his home town after 25 years working throughout Ireland and Britain https://www.businesspost.ie/commercial-reports/limerick-future-is-bright-at-kirby-group-engineering-57339e39

 

• Murdock Builders Merchants acquires Brooks https://www.irishbuildingmagazine.ie/2021/06/21/murdock-builders-merchants-acquires-brooks/

 

• Sean Dunne creditors to loan €1m to trustee to aid pursuit of assets https://m.independent.ie/irish-news/sean-dunne-creditors-to-loan-1m-to-trustee-to-aid-pursuit-of-assets-40574079.html

 

• Ask the recruitment doctor: I’ve been a surveyor for 15 years, but can’t get a new job: Property recruitment specialist Avril Clare has fundamental advice for one reader struggling to find a new job on how to maximise his potential https://www.businesspost.ie/world-at-work/ask-the-recruitment-doctor-ive-been-a-surveyor-for-15-years-but-cant-get-a-new-job-c87ae974

 

• Concerns raised about plans to backfill quarry – Kilsaran Concrete have applied to An Bord Pleanála for permission to backfill the existing Ballinclare Quarry https://m.independent.ie/regionals/wicklowpeople/news/concerns-raised-about-plans-to-backfill-quarry-40568742.html

 

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

• Proptech Ireland is updating the database of 2021 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech  or MMC business sit?  Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *PROPTECH INNOVATORS and STARTUPS * 

 

• Ireland and the United Nations SDG Report 2021: https://prop-tech.ie/ireland-and-the-united-nations-sdg-report-2021/

 

• Elkstone’s Alan Merriman on backing unicorns, investing in prop-tech and how Covid has changed venture capital https://thecurrency.news/articles/51417/elkstones-alan-merriman-on-backing-unicorns-investing-in-prop-tech-and-how-covid-has-changed-venture-capital/

 

• Piece by piece: How Ireland’s modular housing sector is struggling to recover from the pandemic – Modular buildings were hailed as the solution to Ireland’s housing crisis. But the sector has seen significant setbacks, due in large part to added strain on the private housing market and a shortage in construction supplies caused by the pandemic https://thecurrency.news/articles/50173/piece-by-piece-how-irelands-modular-housing-sector-is-struggling-to-build-itself-back-up-after-pandemic-setbacks/

 

• Moving in the right direction: Location data plays a crucial role in the data revolution business driving insights that were hitherto impossible https://www.businesspost.ie/commercial-reports/moving-in-the-right-direction-6604898d

 

• Survey results show that proptech is key to productivity | Over the last 12 months there has been a lot of talk about the ‘acceleration of pre-existing trends’ and the ‘new normal’, but in the context of the property, what do these phrases actually mean? https://www.propertyweek.com/client-solutions/survey-results-show-that-tech-is-key-to-productivity/5114844.article

 

• London PropTech continues global expansion with US launch https://businesscloud.co.uk/london-proptech-continues-global-expansion-with-us-launch/

 

• Tenants “discriminated against” by sloppy referencing, claims PropTech firm https://www.lettingagenttoday.co.uk/breaking-news/2021/6/tenants-discriminated-against-by-sloppy-referencing-claims-proptech-firm?source=newsticker

 

• New Propertymark chief reveals Digital Expansion Programme https://www.estateagenttoday.co.uk/breaking-news/2021/6/digital-expansion-programme-unveiled-by-propertymark

 

• UK construction companies increase R&D spend by £70m – Building Products https://buildingproducts.co.uk/uk-construction-companies-increase-rd-spend-70m/

 

• Digital twins help transform the construction industry https://venturebeat-com.cdn.ampproject.org/c/s/venturebeat.com/2021/06/18/digital-twins-help-transform-the-construction-industry/amp/

 

• The Proptech Entrepreneur Shaping The Future Of Office Life—For Landlords And Tenants https://www.forbes.com/sites/alisoncoleman/2021/06/24/the-proptech-entrepreneur-shaping-the-future-of-office-lifefor-landlords-and-tenants/amp/

 

• PropTech and the future of remote working… https://www.estateagenttoday.co.uk/features/2021/6/proptech-and-the-future-of-remote-working

 

• Proptech Driving Transaction Speed Across All Asset Classes | GlobeSt https://www.globest.com/2021/06/24/proptech-driving-transaction-speed-across-all-asset-classes/?slreturn=20210527051024

 

• 5 proptech trends gaining prominence in 2021 https://yourstory.com/2021/05/proptech-trends-gaining-prominence-2021/amp

 

• Every listing should have a virtual tour within three years  https://www.lettingagenttoday.co.uk/breaking-news/2021/6/every-listing-should-have-a-virtual-tour-within-three-years–proptech-firm?source=newsticker

 

• Has COVID Triggered A Digital Legacy for Estate Agency? – Property Notify https://www.propertynotify.co.uk/news/featured/has-covid-triggered-a-digital-legacy-for-estate-agency/

 

• Germany PropTech Market Trend Analysis 2021-2028 – The ERX News https://erxnews.com/uncategorized/27328/germany-proptech-market-trend-analysis-2021-2028/

 

• Venture Capital Firm MetaProp Closes $100M Third Fund for Investment in Early-Stage PropTech https://www.prnewswire.com/news-releases/venture-capital-firm-metaprop-closes-100m-third-fund-for-investment-in-early-stage-proptech-301314692.html

 

• Proptech startup Lessen raises $35M in Series A funding: VC firm Fifth Wall led round for property management firm that connects owners to service, maintenance providers https://therealdeal.com/2021/06/24/proptech-startup-lessen-raises-35m-in-series-a-funding/

 

• Proptech and New York’s Next Mayor: An Unprecedented Opportunity Looms https://commercialobserver.com/2021/06/proptech-new-york-mayor-buildings-emissions/

 

• Future Of Proptech Development https://www.cioreview.com/news/future-of-proptech-development-nid-33880-cid-208.html

 

• Constructive Voices Podcast: How Artificial Intelligence Is Changing The US Construction Industry https://www.digitaljournal.com/pr/constructive-voices-podcast-how-artificial-intelligence-is-changing-the-us-construction-industry

 

• Airtasker co-founder spearheads growth for proptech startup Soho with Homesales.com.au acquisition – WhaTech https://www.whatech.com/workforce-management/press-release/706019-airtasker-co-founder-spearheads-growth-for-proptech-startup-soho-with-homesales-com-au-acquisition

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• Dublin’s residential market is showing signs of a strong post-Covid rebound: Apartment investments generate fourth highest yields in Europe at 3.75pc https://m.independent.ie/business/commercial-property/dublins-residential-market-is-showing-signs-of-a-strong-post-covid-rebound-40574266.html

 

• Ireland’s property market: What goes up can still come down – Covid-driven uplift in prices here is modest by international standards and it won’t last https://www.irishtimes.com/business/economy/ireland-s-property-market-what-goes-up-can-still-come-down-1.4598487?mode=amp

 

• John FitzGerald: Fears of surge in Irish house prices over next 18 months – Government should stop throwing petrol on the flames by giving more money to buyers https://www.irishtimes.com/business/economy/john-fitzgerald-fears-of-surge-in-irish-house-prices-over-next-18-months-1.4602628?mode=amp

 

• Irish government must take the opportunity to increase borrowing on international markets or it will fail to meet the human and social cost of the housing crisis https://www.thetimes.co.uk/article/borrow-more-now-to-fix-the-housing-crisis-says-pearse-doherty-80kz6x56m

 

• Dublin house prices could rise by 7% this year – JLL https://amp-rte-ie.cdn.ampproject.org/c/s/amp.rte.ie/amp/1229545/

 

• Housing crisis Ireland: Rents remain stable but those hoping to buy a home face three years of hikes https://m.independent.ie/business/personal-finance/property-mortgages/how-much-is-your-house-worth/rents-remain-stable-but-those-hoping-to-buy-a-home-face-three-years-of-hikes-40570501.html

 

• Rising building costs ‘could lower housing supply and increase prices’: Supply shortages – partly due to the disruption of construction activity during the Covid crisis – pent-up demand from buyers unable to purchase last year due to pandemic restrictions https://www.irishexaminer.com/business/economy/arid-40319024.html?type=amp

 

• Pressure on Government to solve housing crisis grows:  There are currently just 12,700 homes for sale on MyHome, down 30pc on last year and close to an historic low https://m.independent.ie/opinion/comment/pressure-on-government-to-solve-housing-crisis-grows-40584979.html

 

• Residential Tenancies (No 2) Bill 2021 – Irish Property Owners’ Association https://ipoa.ie/residential-tenancies-no-2-bill-2021/

 

• Three quarters of renters with flatmates feel they will never own a home, CSO finds: Vast majority of people living alone say they are happy without anyone else https://www.irishtimes.com/news/social-affairs/three-quarters-of-renters-with-flatmates-feel-they-will-never-own-a-home-cso-finds-1.4600707?mode=amp

 

• Internal documents have revealed that Department of Housing officials warned that a shared equity housing scheme would lead to “inflated house prices”, and would ultimately amount to an “incentive” for developers and “not the purchasers” https://www.irishtimes.com/business/media-and-marketing/deparment-officials-warned-shared-equity-scheme-would-hike-up-house-prices-1.4604807?mode=amp

 

• Proportion of new homes bought by institutions increased six-fold in 10 years: The average price of homes bought by institutions also increased dramatically from 2016 to 2019, from €229,627 to €304,811. https://www.thejournal.ie/homes-bought-by-institutions-increase-5472495-Jun2021/

 

• Taoiseach Micheál Martin: There will be new incentives for older people to downsize and free up homes for families https://m.independent.ie/irish-news/taoiseach-micheal-martin-there-will-be-new-incentives-for-older-peopleto-downsize-and-free-up-homes-for-families-40574160.html

 

• New world view of location, location, location:  Conor Power talks to expert auctioneers about how the market for house buyers has changed significantly in the past year https://www.irishexaminer.com/property/developmentconstruction/arid-40316540.html?type=amp

 

• No justification for seeking proof of funds at property viewings, DPC says: Collection of financial statements from prospective buyers not necessary, watchdog says https://www.irishtimes.com/business/commercial-property/no-justification-for-seeking-proof-of-funds-at-property-viewings-dpc-says-1.4601565?mode=amp

 

• Varadkar urges Central Bank to get mortgage lending rules review done ‘as soon as possible’ https://www.thejournal.ie/central-bank-mortgage-lending-rules-varadkar-5476293-Jun2021/

 

• Expats take flight as lenders dash their mortgage dreams: Irish citizens based overseas will need deep pockets to buy a property back home https://www.thetimes.co.uk/article/expats-take-flight-as-lenders-dash-their-mortgage-dreams-832p859sm

 

• Cavan residential rental portfolio for €4.5m offers 10.2% yield: Farnham Court apartments are located just 1km from Cavan town centre https://www.irishtimes.com/business/commercial-property/cavan-residential-rental-portfolio-for-4-5m-offers-10-2-yield-1.4599281?mode=amp

 

• Businessman who wanted to ‘downsize’ by buying abandoned manor houses loses appeal  https://www.breakingnews.ie/business/businessman-who-wanted-to-downsize-by-buying-abandoned-manor-houses-loses-appeal-1145685.html

 

• Shrewsbury Road home changes hands in one of 2021’s biggest property sales: Marlet chief Pat Crean pays more than €11m for ‘Lissadell’ on the exclusive Dublin 4 road https://www.irishtimes.com/life-and-style/homes-and-property/shrewsbury-road-home-changes-hands-in-one-of-2021-s-biggest-property-sales-1.4603517?mode=amp

 

• Ten Clontarf apartments on sale in single lot: Two-bed homes at Seapark in Dublin 3 are found across various blocks in development with Lisney seeking offers over €2.9m https://www.businesspost.ie/commercial/ten-clontarf-apartments-on-sale-in-single-lot-588be610

 

• Plenty of interesting reading here- What’s really going on with the housing crisis? Five estate agents give their view https://m.independent.ie/irish-news/whats-really-going-on-with-the-housing-crisis-five-estate-agents-give-their-view-40584418.html

 

• A beach shack for €735k? Ireland’s holiday home market heats up:  With foreign travel almost impossible, Irish holiday homes have become hugely valuable https://www.irishtimes.com/life-and-style/homes-and-property/a-beach-shack-for-735k-ireland-s-holiday-home-market-heats-up-1.4598572?mode=amp

 

• Pushing for pet friendly rent agreements in Ireland:  On a tight leash – landlords charging ‘pet rent’ https://amp.rte.ie/amp/1231416/

 

• Property Focus: Buyers rushing to #Youghal to escape the cities – Some estate agents report all homes on their books for the coastal town are under offer https://www.irishexaminer.com/property/residential/arid-40316912.html

 

• WATCH: Cork family forced to evacuate home as water leak leaves sinkhole in driveway https://www.irishexaminer.com/news/munster/arid-40318172.html?type=amp

 

• Scheme launched to allow people buy new starter homes at a discounted price in Limerick  https://www.limerick.ie/council/newsroom/news/scheme-launched-allow-people-buy-new-starter-homes-discounted-price-limerick

 

• Swimming the property ladder: Ireland’s growing number of houseboat owners | Newstalk https://www.newstalk.com/news/the-best-decision-i-ever-made-why-more-people-are-calling-houseboats-their-home-1214260

 

• Pride premises: Dublin estate agents take initiatives to support LGBTQ+ community: Capel Street office will ‘target LGBTI buyers’ as the industry sponsors inclusivity and information https://www.irishtimes.com/life-and-style/homes-and-property/pride-premises-dublin-estate-agents-take-initiatives-to-support-lgbtq-community-1.4599288?mode=amp

 

• HJ Byrne Estate Agents have acquired  O’Dwyer English Auctioneers, now re-branded HJ Byrne Estate Agents and the business will continue to be operated from their centrally located premises at The Property House, 19 Main Street in Clondalkin. https://www.echo.ie/show/article/o-dwyer-english-auctioneers-merge-with-hj-byrne-agents

 

• Architect Ronnie Tallon’s award-winning home in Foxrock for €3.75m https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/architect-ronnie-tallon-s-award-winning-home-in-foxrock-for-3-75m-1.4601255?mode=amp

 

• ‘The largest small estate in Dublin’ with 220 acres and a starring role in The General: Hunting lodge on the border of Dublin and Wicklow with colourful history for €4.25m https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/the-largest-small-estate-in-dublin-with-220-acres-and-a-starring-role-in-the-general-1.4599314?mode=amp

 

• Anyone who thinks couch-surfing in your 50s is fun should try it for a week:People in creative industries have had a difficult time during the pandemic. Actor Jessica Freed was evicted and is worried for her future https://www.thejournal.ie/readme/jessica-freed-column-housing-ireland-5472726-Jun2021/?amp=1

 

 

 

COMMERCIAL PROPERTY NEWS

 

• Retail property drop puts stress on funds:  The Central Bank is monitoring Irish property funds, especially those with high borrowings and exposure to the retail trade https://www.thetimes.co.uk/article/retail-property-drop-puts-stress-on-funds-2x305j6sk

 

• €10m refurbishment of Blackrock Village Centre finished, says Aviva: Upgrade of former Blackrock Shopping Centre includes glazed canopy roof to protect customers from weather while allowing fresh air to circulate throughout https://www.businesspost.ie/commercial/eur10m-refurbishment-of-blackrock-village-centre-finished-says-aviva-3e115a7d?auth=login

 

• A Parisian care giant is gobbling up Irish nursing homes. What is its strategy and what does it mean for the sector? – The Currency https://thecurrency.news/articles/51358/a-parisian-care-giant-is-gobbling-up-irish-nursing-homes-why-is-it-up-to-and-what-does-it-mean-for-the-sector/

 

• Core Industrial secures offer of €150m for Dublin logistics assets: M7 Real Estate, Palm Capital, Arrow Capital Partners and Ares advance to second round of sales process https://www.irishtimes.com/business/commercial-property/core-industrial-secures-offer-of-150m-for-dublin-logistics-assets-1.4600478?mode=amp

 

• South Dublin petrol station guiding at €3.5m: Sale of Applegreen outlet on Clonskeagh Road offers purchaser net initial yield of 6.4% https://www.irishtimes.com/business/commercial-property/south-dublin-petrol-station-guiding-at-3-5m-1.4599258?mode=amp

 

• New warehouse at Dublin’s Hub Logistics Park seeking €10 per sq ft https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/new-warehouse-at-dublin-s-hub-logistics-park-seeking-10-per-sq-ft-1.4599248?mode=amp

 

• 3M to create 100 jobs at new R&D tech hub in Dublin https://www.siliconrepublic.com/jobs/3m-dublin-research-development-tech-centre

 

• Commercial tenants and retail crisis https://www.irishtimes.com/opinion/letters/commercial-tenants-and-retail-crisis-1.4601576?mode=amp

 

• Indeed to sublet part of its Dublin hub in office shake-up: Recruitment firm employed about 1,000 people in Ireland in 2019 and planned to add 600 more https://www.irishexaminer.com/business/companies/arid-40321262.html

 

• Former Ericsson HQ on market for €10m: Boole House in Dublin 4 is now in vacant possession and likely to attract both investors and owner occupiers https://www.businesspost.ie/commercial/former-ericsson-hq-on-market-for-eur10m-5d4c1ba7

 

• Tenant for former Quills store provides boost for St Patrick’s Street: Planning application hints at turnaround for Cork’s retail core https://www.irishexaminer.com/property/commercial/arid-40322507.html

 

• Dungarvan pub on market for €500,000: Lord Maguires Bar and Restaurant in Ballinroad will appeal to investors in the hospitality business https://www.businesspost.ie/commercial/dungarvan-pub-on-market-for-eur500000-26be352d

 

 

INTERNATIONAL PROPERTY NEWS

 

• Retail sales in Great Britain fall as people focus on dining out: Economists had forecast a 1.6% rise in May but drop in food shopping affects figures https://www.theguardian.com/business/2021/jun/18/retail-sales-in-great-britain-fall-as-people-focus-on-dining-out

 

• UK construction materials shortage set to continue for months https://www.constructionnews.co.uk/supply-chain/materials-shortage-set-to-continue-for-months-23-06-2021/

 

• WeWork posts best sales numbers since 2019 IPO implosion https://nypost-com.cdn.ampproject.org/c/s/nypost.com/2021/06/21/wework-posts-best-sales-numbers-since-2019-ipo-implosion/amp/

 

• The real urban jungle: how ancient societies reimagined what cities could be https://www.theguardian.com/news/2021/jun/22/the-real-urban-jungle-how-ancient-societies-reimagined-what-cities-could-be

 

• “The Same Technology that Will Allow Us to Address Housing Challenges on Earth, Will Allow Us to Venture Off to Space”: Interview with Jason Ballard of ICON https://www.archdaily.com/963686/the-same-technology-that-will-allow-us-to-address-housing-challenges-on-earth-will-allow-us-to-venture-off-to-space-interview-with-jason-ballard-of-icon

 

• Alphabet’s Getting Into Commercial Real Estate Consulting, But Not To Throw Google’s Weight Around https://www.bisnow.com/national/news/construction-development/sidewalk-labs-google-new-development-advisory-service-4-partnerships-109311

 

 

FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS

Crowd-sourcing answers topical property questions:    

Irish Property Buyers Handbook annuals

 

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/