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: 

 

• Economists cast doubt over Ireland’s sharp contraction: Official data suggests downturn but other figures point to last year’s boom continuing https://www.ft.com/content/16cc9bfa-0f54-474f-8f4f-0f7f08c4371d Also: Irish economy shrank by more than estimated in the first quarter: Revision to 2022 data suggest back-to-back declines and a technical recession https://m.independent.ie/business/irish/irish-economy-shrank-by-more-than-estimated-in-the-first-quarter/a1201687464.html

 

• Housing minister defends Govt approach after last week’s record high homeless figures – Figures published on Friday showed there were 12,259 people in emergency accommodation last month. https://www.thejournal.ie/housing-minister-defends-homelessness-figures-6080644-May2023/

 

• Housing Department chief to explain how it left €246m unspent amid housing crisis: Department secretary general Graham Doyle will tell Oireachtas public accounts committee about the causes of the underspend https://www.irishexaminer.com/news/politics/arid-41152231.html

 

• What is the Government’s new Land Value Sharing Bill? https://www.breakingnews.ie/amp/ireland/what-is-the-governments-new-land-value-sharing-bill-1483730.html Also, Land speculation tax could cause property market ‘hiatus’ – property sector: Irish Institutional Property has also warned the government’s new rules on for zoned housing land will not reduce home prices https://www.businesspost.ie/news/land-speculation-tax-could-cause-property-market-hiatus-property-sector/

 

• To solve the housing crisis we need the LDA as a market force, not a sideshow https://m.independent.ie/opinion/comment/mark-keenan-to-solve-the-housing-crisis-we-need-the-lda-as-a-market-force-not-a-sideshow/a269610088.html

 

• State ‘would prefer to own homes rather than subsidising rentals’ but it would cost ‘billions’ https://www.irishexaminer.com/news/arid-41152741.html

 

• How South Dublin neighbours demanded secret €225k payoff each to not block housing – Garda fraud squad reviews file from developers on ‘go away money’ to drop planning case https://www.independent.ie/irish-news/how-south-dublin-neighbours-demanded-secret-225k-payoff-each-to-not-block-housing/a138840489.html

 

• Gamma has mapped out the 2022 Census data which shows an increase in the number of households – this has gone up by almost 140,000 – and reveals a shift regarding the number of homes being owned outright https://irishtechnews.ie/gamma-maps-out-census-data-to-show-property/

 

• Reasonable question: Residential Tenancies Board: Is it fit for purpose? The quasi-judicial public body set up under the Residential Tenancies Act 2004 has been criticised for its inaccurate reporting figures and delays in the dispute resolution process https://www.irishtimes.com/ireland/housing-planning/2023/05/29/the-residential-tenancies-board-is-it-fit-for-purpose/

 

• Over 200 rental properties in Dublin close to purchase by council under Tenant in Situ scheme: Dublin City Council had completed 18 purchases according to figures from the Dublin Region Homeless Executive https://www.irishtimes.com/ireland/housing-planning/2023/05/29/over-200-rental-properties-in-dublin-close-to-purchase-by-council-under-tenant-in-situ-scheme/

 

• Construction work has finished on the first of 700 modular homes for Ukrainians refugees. 64 units were built on a brownfield site in Mahon, Cork City, in less than seven months — two months of which were spent clearing Japanese knotweed from the site https://www.irishexaminer.com/news/arid-41150587.html

 

• Delivery of modular homes for Ukrainian refugees ‘slower than one would have wished’, says Minister: Up to half of 700 quick-build houses approved by Government might not be completed by end of year due to difficulties assessing suitable siteshttps://www.irishtimes.com/politics/2023/05/29/delivery-of-modular-homes-for-ukrainian-refugees-slower-than-one-would-have-wished-says-minister/

 

• Minister ‘confident’ he can reverse downward trend in home ownership https://www.breakingnews.ie/amp/ireland/minister-confident-he-can-reverse-downward-trend-in-home-ownership-1483193.html

 

• Competition must finally be introduced at Dublin airport: The sale of 260 acres by the McEvaddys to Dublin Airport is a blow, but an independent third terminal might lower prices and generally inspire DAA https://www.businesspost.ie/analysis-opinion/editorial-competition-must-finally-be-introduced-at-dublin-airport/

 

• New operator of search and rescue service based in Sligo announced https://m.independent.ie/regionals/sligo/news/new-operator-of-search-and-rescue-service-based-in-sligo-announced/a682995870.html

 

• Iconic Banshees of Inisherin Pub renovated and relocated to Kilkerrin https://www.advertiser.ie/galway/article/135876/iconic-banshees-of-inisherin-pub-renovated-and-relocated-to-kilkerrin

 

 

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

We are excited to share the growth of iPropertyRadio! What started as #PropertyMatters, a 60-minute weekly show on Dublin South FM 93.9FM over 4 years ago, has now evolved into a global online station for the best construction, urban planning, property and proptech content. Check out our website, iPropertyRadio.com, brought to you by Hear Me Roar Media for live and recorded access to all the week’s built environment news. 

Want to have your industry podcast included or be a guest on our shows? Reach out to us at hello@ipropertyradio.com. Last year, we hit a massive 7.5 million digital impressions across our brands and this figure is growing – Q4 2022/Q1 2023 we now have an  average of 765,876 digital impressions each month, not including radio listenership and website visits. Huge thanks to all of you for your continued support!

Be sure to subscribe to the podcast and check out all of the other real estate and construction shows on  https://ipropertyradio.com/shows/

This week on iPropertyRadio… 

#Property Roundup

Downsizing or Rightsizing?

 

This week on #PropertyRoundup, host Carol Tallon chats to Majella Galvin, Director of DNG MICHAEL GALVIN and Chair of SCSI (Southern region). Majella joins us to discuss downsizing or rightsizing your home and the many benefits it can have including; reduced running costs, less to maintain and more independence.

 

Majella writes weekly articles to help buyers and sellers make informed decisions when thinking about downsizing. You can find everything you need to know at the following link: https://dnggalvin.ie/

Listen back to get a view on the current market conditions in Cork and new trends emerging in the property industry.

Watch/ listen back: https://ipropertyradio.com/property-matters/

Produced by Katie Tallon, with Hear Me Roar Media on sound https://hearmeroarmedia.com/

 

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

 

 

• Digital Placemaking Tools for Public Consultation & Community Engagement | PLACEengage https://placeengage.com/digital-placemaking-tools-for-public-consultation-community-engagement/

 

• Changing face of Ireland: ‘Property prices here are much too high…The difference for what they’d get in Poland is mad’: Many in Ireland’s Polish community are choosing to return home due to the prohibitive cost of living and working here https://www.irishtimes.com/life-style/people/2023/06/03/changing-face-of-ireland-property-prices-here-are-much-too-high-the-difference-for-what-theyd-get-in-poland-is-mad/

 

• THE population of South Dublin County is set to increase by 50 per cent, according to the outgoing South Dublin County Council chief executive https://www.echo.ie/population-of-county-to-increase-by-50-per-cent/

 

• History and local traditions of Cork citizens to be preserved in online archives: Photographs, personal stories, and traditions are being stored on a database after four historical groups around Cork were the latest to join the national online digital hub https://www.irishexaminer.com/news/munster/arid-41152147.html

 

• Galway TD warns remote areas in decline due to planning problems https://connachttribune.ie/galway-td-warns-remote-areas-in-decline-due-to-planning-problems/

 

• Old tape recordings of East Galway stories and folklore sought for heritage project https://galwaybayfm.ie/galway-bay-fm-news-desk/old-tape-recordings-of-east-galway-stories-and-folklore-sought-for-heritage-project/

 

• Historic Tipperary property reborn – For the owner of the historic Silversprings House, which has been reborn to enable multigenerational living, one of the benefits of living together is having a coffee on the balcony with his son https://www.irishtimes.com/property/interiors/2023/06/03/a-historic-home-with-a-bright-future/

 

• New hostel set to be a game changer for tourism in north Mayo https://www.con-telegraph.ie/2023/05/29/new-hostel-set-to-be-a-game-changer-for-tourism-in-north-mayo/

 

• Louth residents explain why the rural site is unsuitable for heavy industry: “At the moment, it’s like a wild forest and is quite beautiful https://m.independent.ie/regionals/louth/drogheda-news/louth-residents-explain-why-the-rural-site-is-unsuitable-for-heavy-industry/a608442736.html

 

• Family swap £275,000 suburban home for a rural homestead in Ireland where they grow their own food https://metro.co.uk/2023/05/29/family-swap-their-suburban-home-for-a-rural-homestead-in-ireland-18860824/amp/

 

CONSTRUCTION, MMC & DEVELOPMENT NEWS

 

• In advance of the inaugural MMC Ireland National Conference 2023 in Croke Park this Tuesday (https://mmcireland.ie/national-conference-2023/ ), the #MMCIreland team has released a video featuring many of its 50+ members. It gives a great insight into the growing capacity of the sector (all seven categories of MMC).  Watch it at: https://youtu.be/AXDurIwQsEw 

 

• Also, the Tánaiste, speaking on housing: “I think, in time, these [modular] houses will point the way for future house building in the country, I think you will see more modern methods of construction happening in the context of social housing and other housing… https://www.anglocelt.ie/2023/06/02/we-have-to-build-more-houses-martin/

 

• FDI up 15 per cent last year, led by pharma and IT sectors: Pfizer facility in Dublin and Eli Lilly factory in Limerick account for €2.4 billion, while Intel plans to invest €12 billion to expand operations here https://www.businesspost.ie/news/fdi-up-15-per-cent-last-year-led-by-pharma-and-it-sectors/

 

• ‘We need 50,000 additional construction workers to build and retrofit homes’: Andrew Brownlee, CEO of Solas, says that construction is one of the most important sectors where new labour and new skills are needed to deliver on climate action https://www.businesspost.ie/news/five-degrees-of-changewe-need-50000-additional-construction-workers-to-build-and-retrofit-homes/

 

• Engineering and construction are hardest jobs for employers to fill, says recruitment platform Indeed https://m.independent.ie/business/irish/engineering-and-construction-are-hardest-jobs-for-employers-to-fill-says-recruitment-platform-indeed/a1454777301.html

 

• TOWNMORE Construction is tackling the construction skills shortage in a novel way, with the help of teenage tower crane operator: Kate Fahey, Ireland’s first female tower crane operator, teams up with Townmore Construction to launch industry-wide campaign promoting careers in construction https://irishconstruction.com/shaking-off-constructions-dusty-image/ 

 

• Planning for apartments outstrips houses nationwide: CSO figures show 4,000 more apartments have received permission than houses across the country in the past five years https://www.businesspost.ie/politics/planning-for-apartments-outstrips-houses-nationwide/

 

• Government’s new Land Value Sharing legislation could add up to €35,000 to the price of a home. Under the bill, landowners and developers may have to pay a charge of up to 30% on the difference in the value of land before and after residential zoning. https://www.rte.ie/news/2023/0601/1386798-housing/

 

• Right to silence defence lodged in corrupt cash High Court case: Technician Kieran Sharkey was named in state firm’s ongoing lawsuit against construction firm following allegations of clandestine payments https://www.businesspost.ie/news/right-to-silence-defence-lodged-in-corrupt-cash-high-court-case/

 

• Donohoe tells global contractors now a good time to invest in Ireland: Minister says country will remove ‘unnecessary administrative barriers’ to accelerate infrastructure projects https://www.irishtimes.com/transport/2023/05/28/donohoe-tells-global-contractors-now-a-good-time-to-invest-in-ireland/

 

• Bam Ireland CEO: ‘We’re beyond 80pc complete on the new Children’s Hospital – and it’s an astonishing, first-class building’: The head of Bam Ireland lays out how to build for the future https://m.independent.ie/business/irish/bam-ireland-ceo-were-beyond-80pc-complete-on-the-new-childrens-hospital-and-its-an-astonishing-first-class-building/a1405264226.html

 

• Wetherspoon’s plan 43ft sound barrier to tackle noise issues at Camden St hotel https://www.breakingnews.ie/amp/ireland/wetherspoons-plan-43ft-sound-barrier-to-tackle-noise-issues-at-camden-st-hotel-1482694.html

 

• Planning permission granted for 852 social and affordable homes on Central Mental Hospital site in Dundrum: Land Developement Agency recently told the Oireachtas housing committee that the risk of a court challenge to the development was ‘considered high’https://www.irishtimes.com/ireland/housing-planning/2023/05/29/planning-permission-granted-for-852-social-and-affordable-homes-on-central-mental-hospital-site-in-dundrum/

 

• Johnny Ronan’s plan to redevelop former Irish Glass Bottle site at Poolbeg suffers major setback https://m.independent.ie/irish-news/johnny-ronans-plan-to-redevelop-former-irish-glass-bottle-site-at-poolbeg-suffers-major-setback/a548501290.html

 

• Planners refuse 98 homes in Greystones because town has ‘already hit population target’: Wicklow County Council decision could mean an effective ban on new planning permissions in the Greystones–Delgany area until 2028 https://www.irishtimes.com/ireland/housing-planning/2023/06/02/planners-refuse-98-homes-in-greystones-because-town-has-already-hit-population-target/ Also: Greystones planning decision has national implications, say home builders: Refusal based on population targets could ban new housing permissions until 2028 https://www.irishtimes.com/ireland/housing-planning/2023/06/02/greystones-planning-decision-has-national-implications-say-home-builders/

 

• Magheramore beach: Planning for €40m tourist resort rejected by council: Plan for surf school, accommodation pods at Co Wicklow site was backed by Paddy McKillen jnr and Matthew Ryan https://www.irishtimes.com/ireland/2023/05/30/magheramore-beach-planning-for-40m-tourist-resort-rejected-by-council/

 

• Plot of land 1km from Lucan main street fetches over €60k an acre: Sale of 60 acres of potential development land was concluded by a ‘best bids’ process, which yielded a number of very strong offers for the lands https://www.businesspost.ie/article/plot-of-land-1km-from-lucan-main-street-fetches-over-e60k-an-acre/

 

• Way cleared for redevelopment of Cork’s South Docks: Brian O’Callaghan also said he is lodging planning permission for an additional 1,325 apartments on the docklands which will be separate to the €350m development. https://www.irishexaminer.com/property/developmentconstruction/arid-41151763.html

 

• It took 11 months to complete the modular homes in Mahon point compared to three to five years for social housing. They have a lifespan of 60 years and cost an average of €165,000 each https://www.businesspost.ie/article/no-ministers-policy-for-launch-of-modular-homes-for-refugees/

 

• HSE’s Knocknacarra ‘integrated care hub’ to go for planning https://connachttribune.ie/hses-knocknacarra-integrated-care-hub-to-go-for-planning/

 

• No progress in Oranmore Primary Care Centre standoff https://www.galwaydaily.com/news/no-progress-in-oranmore-primary-care-centre-standoff/

 

• 51 home development in Waterford refused planning permission https://www.wlrfm.com/news/51-home-development-waterford-308527

 

• Green light for large new housing development in Kilkenny https://www.kilkennypeople.ie/news/kilkenny-city/1184141/breaking-green-light-for-large-new-housing-development-in-kilkenny.html

 

• Wicklow and Kildare could have huge new homes shortfall amid framework ‘mess’: Property companies fear undersupply of housing is baked in with targets https://www.thetimes.co.uk/article/wicklow-kildare-could-have-huge-new-homes-shortfall-amid-framework-mess-2tqmpc6gn

 

 

• Planning documents lodged with Kildare County Council (KCC) show that 78 new homes are being proposed for an area in Kildare town. Thoval Properties Limited is seeking permission from KCC to construct the development at Kildare and Whitesland East https://www.ireland-live.ie/news/kildare-now/1182258/78-new-homes-proposed-for-county-kildare-planning-permission-documents-show.html

 

• High profile Sallins site beside train station https://www.ireland-live.ie/news/kildare-now/1181926/kildare-property-watch-high-profile-sallins-site-beside-train-station.html

 

• Minister Harris marks the commencement of the construction of the new Digital Media Building at IADT https://www.gov.ie/en/press-release/dc870-iadt-digital-media-building/

 

• New industrial unit sought for region located in North Kildare https://www.ireland-live.ie/news/kildare-now/1182324/planning-brief-new-industrial-unit-sought-for-region-located-in-north-kildare.html

 

• Louth County Council signs contract for eleven new homes in Dundalk https://m.independent.ie/regionals/louth/news/louth-county-council-signs-contract-for-eleven-new-homes-in-dundalk/a1694437011.html

 

• Go ahead given for new housing development at Castletown Road in Dundalk: Louth County Council grants conditional planning permission https://www.dundalkdemocrat.ie/news/home/1182995/go-ahead-given-for-new-housing-development-at-castletown-road-in-dundalk.html

 

• Over 60 homes proposed for Hillquarter area of Coosan https://www.westmeathindependent.ie/2023/06/01/over-60-homes-proposed-for-hillquarter-area-of-coosan/

 

• PF&4Ds Limited are seeking permission from Westmeath County Council for 26 apartments in Bunnavalley, Athlone. The five blocks would provide 91 students with accommodation, according to the planning file. https://www.midlands103.com/news/midlands-news/plans-submitted-for-new-student-housing-development/

 

• Planning granted for extension to Slieve Russell Hotel https://www.northernsound.ie/news/planning-granted-for-extension-to-slieve-russell-hotel-in-ballyconnell-215958

 

• Construction firm Flynn gets boost from Europe as its pre-tax profits triple https://m.independent.ie/business/irish/construction-firm-flynn-gets-boost-from-europe-as-its-pre-tax-profits-triple/a1751454533.html

 

• H&MV Engineering, a leading global provider of specialist Design, Engineering and Construction Services opened its new global HQ in Limerick, where the business will lead a global expansion including the creation of 700 jobs over the next five years.https://irishbuildingmagazine.ie/2023/05/29/hmv-engineering-to-add-700-new-jobs/

 

• How interoperability can improve resilience in MMC supply chains and drive wider adoption of DfMA https://www.bdonline.co.uk/sponsored-content/how-interoperability-can-improve-resilience-in-mmc-supply-chains-and-drive-wider-adoption-of-dfma/5121877.article

 

• CRH expected to scale back investor returns from record €3.3bn this year – Fitch forecasts building materials giant cutting total shareholder remuneration to $2.5bn next year and an average of $2bn annually between 2025 and 2026 https://www.irishtimes.com/business/2023/05/29/crh-seen-scaling-back-investor-returns-from-record-33bn-this-year/

 

• The High Court has appointed an interim examiner to the award-winning construction company Mac Interiors https://m.independent.ie/business/irish/examiner-appointed-to-construction-firm-mac-interiors/a736873019.html

 

• CIOB president Michael Yam and CIOB chief executive Caroline Gumble spent a week in Ireland recently, meeting Irish CIOB members. https://constructionmanagement.co.uk/ciob-ceo-and-president-take-trip-to-ireland/

 

• Fingleton junior’s €210m plan for Milton Keynes https://www.thetimes.co.uk/article/fingleton-junior-210m-plan-milton-keynes-comment-lzz9lsv6l

 

 

 

PROPTECH, ESG & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2023 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

 

• Proptech Ireland: Ireland’s CONSTRUCTION and REAL ESTATE ESG technologies resource hub. Confused about how and where to start on your ESG journey? Contact us 👉https://prop-tech.ie

 

 

• Enterprise Ireland in recruitment crisis with 99 staff vacancies: Concerns raised over state agency’s ability to boost exports as it struggles to recruit at home and abroad https://www.businesspost.ie/article/enterprise-ireland-in-recruitment-crisis-with-99-staff-vacancies/

 

• Cemetery management software company PlotBox raises £5m: The North firm’s technology, once described as a ‘Google Maps for cemeteries’, is used to locate and manage graves https://www.businesspost.ie/tech/cemetery-management-software-company-plotbox-raises-5m/

 

• Proptech Investments Have Slowed Down This Year. But Long-Term Outlook Remains Positive. Investors in proptech companies are much more focused on value proposition and return on investment than they were before. https://www.wealthmanagement.com/proptech/proptech-investments-have-slowed-down-year-long-term-outlook-remains-positive

 

• Sustainability And The Greening Of Irish Real Estate https://businessplus.ie/news/irish-real-estate-sus/

 

• Carbon emissions spectrum and the steps to decarbonize the Built Environment https://energy.economictimes.indiatimes.com/amp/news/renewable/carbon-emissions-spectrum-and-the-steps-to-decarbonize-the-built-environment/100581180

 

• The Rise of Smart Buildings: Proptech’s Role in Energy Efficiency https://citylife.capetown/uncategorized/the-rise-of-smart-buildings-proptechs-role-in-energy-efficiency/68814/

 

• SmartRent: The Smart Way To Invest In Smart Homes And Proptech https://seekingalpha.com/article/4608589-smartrent-the-smart-way-to-invest-in-smart-homes-and-proptech

 

• Real estate-focused ESG data technology provider Measurabl announced today that it has raised $93 million, with proceeds from the financing aimed at expanding its platform, and to fund international expansion and global partnerships.https://www.esgtoday.com/real-estate-focused-esg-data-provider-measurabl-raises-93-million/

 

• Proptech platforms changing the way millennials buy and sell real estate: With the intervention of tech in real estate, here is how proptech platforms have come to the aid of millennials who are trying to find their dream homes in this competitive market https://www.bizzbuzz.news/amp/trendz/how-proptech-platforms-changing-the-way-millennials-buy-and-sell-real-estate-1222509

 

• How Proptech Could Transform Multifamily Real Estate https://urbanland.uli.org/public/how-proptech-could-transform-multifamily-real-estate/

 

• Spain-based proptech company Housfy has diversified into short- and medium-stay room rentals https://aimgroup.com/2023/06/01/spain-based-proptech-company-housfy-launches-housfy-coliving/

 

• Market Lane, a New Company, Aims to Analyze Its Fellow Proptech Firms – Founder Philip Kanfer arrives from WiredScore, the giant digital connectivity certifier https://commercialobserver.com/2023/05/market-lane-proptech/

 

• The Rise, Fall And Acquisition of NestAway: From $220 Million to Just $11 Million https://dazeinfo.com/2023/06/03/nestaway-acquisition-fall-of-nestawayvaluation-11-million/

 

 

ENERGY, CLIMATE & ENVIRONMENT

 

 

• • Mind the environmental gaps – or we will all pay a grim price: The cost-benefit ratio of climate action versus climate change is still firmly weighed against action for many https://www.businesspost.ie/analysis-opinion/mind-the-environmental-gaps-or-we-will-all-pay-a-grim-price/

  • Green Party and Fine Gael set for row over land-use plans linked to climate change: Eamon Ryan says EU nature restoration law opposed by Fine Gael must be accepted if Ireland’s climate mitigation goals to be met https://www.irishtimes.com/politics/2023/06/03/land-use-plans-linked-to-climate-change-set-to-spark-row-between-green-party-and-fine-gael/

  • Ireland to miss 2030 climate targets by wide margin, EPA predicts: Latest projections suggest all sectors agriculture, industry, electricity and transport on course to miss targets https://www.irishtimes.com/environment/2023/06/02/ireland-to-fall-well-short-of-its-climate-targets-and-exceed-carbon-budgets-up-to-2030-by-a-wide-margin-epa-predicts/

  • Greenhouse gases: Sector by sector breakdown of how far off Ireland is from meeting its emissions targets: From agriculture to electricity to industry to transport, here’s the gap between climate ambition and climate action https://www.buzz.ie/news/irish-news/sectoral-emissions-targets-climate-ireland-30137257.amp

  • Home Q&A: Do sustainable home improvements require planning permission? Serious external renovations, extensions and even sustainable changes often require planning permission https://www.irishexaminer.com/property/homeandgardens/arid-41146486.html

  • Do we need to rewire our old house before fitting solar panels? Property Clinic: The cost of bringing our home’s electrics up to date is preventing us from doing our bit to save the planet https://www.irishtimes.com/property/residential/2023/05/30/do-we-need-to-rewire-our-old-house-before-fitting-solar-panels/

  • Energy leader says offshore wind having a ‘special moment’ – Top executive for Danish renewables giant Orsted says Ireland can catch up with world market if it moves on building infrastructure https://www.businesspost.ie/news/energy-leader-says-offshore-wind-having-a-special-moment/

  • Seven-turbine wind farm project begins to take shape – Convoy deliveries of wind turbine components get underway for Lenalea Wind Farm https://www.donegallive.ie/news/home/1181472/seven-turbine-wind-farm-projectbegins-to-take-shape.html

  • ESB confirms deal with Orsted to develop Irish offshore wind projects: Wind farms will cost billions of euro to construct https://m.independent.ie/business/esb-confirms-deal-with-orsted-to-develop-irish-offshore-wind-projects/a1382074429.html

  • Pinergy launches €30 million Solar Fund for businesses – Commercial customers will be able to access lower-cost renewable energy without any upfront capital outlay for the business https://www.businesspost.ie/news/pinergy-launches-e30-million-solar-fund-for-businesses/

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

• The Vestry Partnership, a low-profile property fund backed by a Singapore sovereign wealth fund, has amassed a portfolio of more than 1,000 separate rental properties in Ireland. https://www.thetimes.co.uk/article/singapore-fund-snaps-up-1000-rentals-ireland-5kv62tbmq

 

• Louth County Council sign contract for 72 new social houses https://www.ireland-live.ie/news/louth-live/1186743/louth-county-council-sign-contract-for-72-new-social-houses.html

 

• Demand for newly built homes increased by 114% in May compared to the previous month, according to the latest Daft.ie report. For all homes in Ireland, nationwide demand increased by 17% compared to last year: https://www.newstalk.com/news/demand-for-new-homes-up-114-in-one-month-1471368

 

• Scrambling to save for, and buy, that first home: a how-to guide: The deposit, mortgage and finding a home — three hurdles proving difficult to overcome for increasingly older first-time buyers https://www.irishtimes.com/your-money/2023/06/03/scrambling-to-save-for-and-buy-that-first-home-a-how-to-guide/

 

• Single-parent families most at risk of losing out when landlords leave rental market – homeless agencies: Agencies to tell Oireachtas committee that the tenant-in-situ scheme can be a powerful tool to address the issue of homelessness in Ireland https://www.irishtimes.com/ireland/housing-planning/2023/05/29/over-200-rental-properties-in-dublin-close-to-purchase-by-council-under-tenant-in-situ-scheme/

 

• Latest mortgage data shows continued growth in the price being paid for houses and the mortgages being taken out to pay for them in Q2 2022 – no signs of the kind of 2008-boom, but affordability is still  a problem https://www.irishtimes.com/opinion/editorials/2023/05/29/the-irish-times-view-on-the-latest-mortgage-figures-the-squeeze-continues/

 

• Number of tenants issued termination notices rises to 4,753 in Q1 2023 https://www.breakingnews.ie/ireland/number-of-tenants-issued-termination-notices-rises-to-4753-in-q1-2023-1482691.html

 

• Landlords are sending out 50 notices to quit each day https://extra.ie/2023/05/31/news/irish-news/landlords-notices-to-quit-rtb

 

• Council paid to house tenants in home that had been subject to fire safety warning: Officials investigating ‘unauthorised’ use of shed in property for housing without planning permission https://www.irishtimes.com/ireland/housing-planning/2023/06/05/council-paid-to-house-tenants-in-home-subject-to-fire-safety-warning/

 

• Two tenants renting Dublin property ordered to pay landlord €37,000 in arrears https://m.independent.ie/irish-news/two-tenants-renting-dublin-property-ordered-to-pay-landlord-37000-in-arrears/a427623157.html

 

• Tenants ‘bitten all over by bedbugs’ awarded €4,000 compensation: Case brought before rental watchdog Residential Tenancies Board https://m.independent.ie/irish-news/tenants-bitten-all-over-by-bedbugs-awarded-4000-compensation/a35157091.html

 

• Fifty homes available to buy under affordable housing scheme in Dublin seaside town: Prices range from €228,000 to €299,500 https://www.dublinlive.ie/news/dublin-news/fifty-homes-available-buy-under-27018764

 

• Dublin’s most expensive home up for sale https://www.dublinlive.ie/news/property/gallery/dublins-most-expensive-home-up-27049582

 

• 20 times more properties in Galway on AirBnB than Daft https://galwaybayfm.ie/galway-bay-fm-news-desk/20-times-more-properties-in-galway-on-airbnb-than-daft/

 

• What homes can a ‘typical’ first-time buyer purchase, and where? The median household income is €74,000 for a second hand home and €91,000 for a new home – what exactly will this buy https://www.irishtimes.com/property/residential/2023/05/30/what-homes-can-a-typical-first-time-buyer-purchase-and-where/

 

 

• ‘I can’t believe we’re living here’: A home renovation project finally comes to fruition – It’s been 11 years since the previous resident, my great aunt Kitty, drew her final breath, but after two years of effort, we’re finally in https://www.irishtimes.com/property/interiors/2023/06/04/i-struggle-to-believe-were-living-here-now-the-big-reveal-of-a-first-time-home-renovation-project/

 

• Ballsbridge redbrick an elegant proposition for €2.6 million: Glenart, on Sydney Parade Avenue is a semi-detached Edwardian residence with garden room extension and C2 energy rating and south-facing back garden https://www.businesspost.ie/article/ballsbridge-redbrick-an-elegant-proposition-for-e2-6-million/

 

• Creatively upgraded cottage with bedroom balcony for €550,0000: Baldoyle property has a new balcony off the principal bedroom which now has a cool swing underneath https://www.irishtimes.com/property/residential/2023/06/02/creatively-upgraded-cottage-with-bedroom-balcony-for-5500000/

 

 

• First Home Scheme launched in Tramore https://www.wlrfm.com/news/first-home-scheme-launched-in-tramore-308381

 

• Sustainable design secrets from the pros for our living spaces: Cork’s vintage interiors scene is booming thanks to enthusiasts seeking a unique look, bargains and upcycling potential https://www.irishexaminer.com/property/homeandgardens/arid-41143180.html

 

• Waterfront Cuskinny Estate could be one of Munster coastline’s great escapes, for hospitality or private retreat: Period Great Island Co Cork home on up to 142 acres is jewel-set and a property prize with €2m price guide, or €4m all-in https://www.irishexaminer.com/property/commercial/arid-41152204.html

 

• House demand in Laois is radically out of step with most of Ireland figures show https://www.leinsterexpress.ie/news/property/1185369/house-demand-in-laois-is-radically-out-of-step-with-most-of-ireland-figures-show.html

 

• Wexford homeowners can earn €14,000 a year by renting room to SETU students https://m.independent.ie/regionals/wexford/wexford-district/wexford-homeowners-can-earn-14000-a-year-by-renting-room-to-setu-students/a8174896.html

 

• Enjoy seaside living at its best in this luxurious beachfront property: Sandy View in Gormanston on the Meath Gold Coast has been renovated to showhouse standard and has an A3 energy rating https://www.businesspost.ie/article/enjoy-seaside-living-at-its-best-in-this-luxurious-beachfront-property/

 

 

 

COMMERCIAL PROPERTY NEWS

• Cash-rich trophy hunters move on prime high street assets: Recent investment activity suggests early movers, encouraged by the stabilisation of values and rents, are looking to snap up bargains https://www.businesspost.ie/article/cash-rich-trophy-hunters-move-on-prime-high-street-assets/

 

• Old office blocks ripe for repurposing, says leading architect – RKD’s Séamus Guidera says such buildings may become stranded assets but would work well as residential accommodation or hotels https://www.businesspost.ie/news/old-office-blocks-ripe-for-repurposing-says-leading-architect/

 

• Tallaght warehouse and office block with development potential for €5.25m: Substantial building of 3,800 square metres on over 2 acres of land with frontage on to Belgard Road is currently in planning for a mixed-use residential project https://www.businesspost.ie/article/tallaght-warehouse-and-office-block-with-development-potential-for-e5-25m/

 

• Appealing retail investment opportunity in Dublin 14: The 111.5 square metre property is conveniently located and has excellent frontage on to the Dundrum Road https://www.businesspost.ie/article/appealing-retail-investment-opportunity-in-dublin-14/

 

• Iroko Zen snaps up second Tesco outlet in Dublin suburbs: French investor’s Inchicore purchase, located 5km from Dublin city centre, is company’s third Irish investment this year https://www.businesspost.ie/article/iroko-zen-snaps-up-second-tesco-outlet-in-dublin-suburbs/

 

• French electrical wholesaler to open new stores and hub in Ireland: Rexel investment in distribution centre and new branches will play key role in company’s future business in the country https://www.businesspost.ie/article/french-electrical-wholesaler-to-open-new-stores-and-hub-in-ireland/

 

• Paul McNeive: There is a tale of two markets in Dublin’s office lettings space https://m.independent.ie/business/commercial-property/paul-mcneive-there-is-a-tale-of-two-markets-in-dublins-office-lettings-space/a1955565273.html

 

• Cork city shopping centre auctioned off for just €1.75m – Paul Street went for about the price of a  home in Dublin 4 https://www.corkbeo.ie/news/local-news/cork-city-shopping-centre-auctioned-27036081

 

• Well-known pub owners behind plan for high-end wine bar in Salthill  https://connachttribune.ie/well-known-pub-owners-behind-plan-for-high-end-wine-bar-in-salthill/

 

• Two Brennans hotels had profits of €1.15 million last year: The brothers’ Kenmare hotels are on the market while the The Park Hotel had profits of €1.1 million and the Lansdowne made €45,000 https://www.businesspost.ie/news/two-brennans-hotels-had-profits-of-e1-15-million-last-year/

 

• Laois County Council complete purchase of former hardware shop for €1.85 million https://www.laoistoday.ie/2023/05/31/laois-county-council-complete-purchase-of-former-hardware-shop-for-e1-85-million/

 

• Magowna House operator received €4.83m for accommodating Ukrainians in 2022 https://www.breakingnews.ie/amp/ireland/magowna-house-operator-received-e4-83m-for-accommodating-ukrainians-in-2022-1483278.html

 

INTERNATIONAL PROPERTY NEWS

• Maldron-owner Dalata acquires London Apex Hotel for €62m: Marking the group’s 19th UK location, the new hotel will be renamed as Clayton Hotel London Wall https://www.irishexaminer.com/business/companies/arid-41153371.html

 

• Labour issues replace materials shortages as construction’s biggest headache: Rising labour costs are now a bigger issue for UK construction than rising materials costs https://www.theconstructionindex.co.uk/news/view/labour-issues-replace-materials-shortages-as-constructions-biggest-headache

 

• Renovating a property in Europe? Here’s what you need to know – What (and what not) to do when renovating a holiday home abroad https://www.thetimes.co.uk/article/international-meet-the-renovators-bwgj9ctg0

 

• Australia’s rental affordability drops to worst levels in nearly a decade: New report shows average households are spending a third of income on rent while lower income families pay more than half their earnings https://www.theguardian.com/australia-news/2023/may/29/australias-rental-affordability-drops-to-worst-levels-in-nearly-a-decade

 

• The demonisation of nimbyism is unhelpful – it’s a natural response to decades of Melbourne’s planning failures https://www.theguardian.com/commentisfree/2023/may/29/the-demonisation-of-nimbyism-is-unhelpful-its-a-natural-response-to-decades-of-melbournes-planning-failures

 

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/