Weekly Irish property market news and insights – for the industry, by the industry

 

New Interiors Book: It has been a busy week for the Property District team. On Tuesday, we were delighted to support the talented Natasha Rocca Devine as she launched her latest book ‘The Step-By-Step Guide to Designing & Styling Your Home’ (further details here: https://ipropertyradio.com/natasha-rocca-devine-celebrates-the-launch-of-her-latest-book/).

 

#IWD2023 and thoughts on failure: On Wednesday we celebrated International Women’s Day, which is a different affair in a female-owned and female-led business (we don’t get cake). While it is important to celebrate the social, economic, cultural, and political achievements of women, it is arguably more important to recognise the work that still needs to be done towards achieving meaningful gender equality. In Ireland’s construction industry, women have historically been underrepresented, but this is changing. More and more women are entering the industry and breaking down barriers, showing that gender should never be a barrier to success – and this is particularly true for offsite and other modern methods of construction (learn more here https://mmcireland.ie/). So, if your organisation is serious about striving for gender equity, please forget the annual cake “for the girls in the office” and forget the well-intentioned but, frankly, ridiculous confidence seminars, instead hire more women, give them professional autonomy, give them equal pay and well-earned promotions. Most importantly, allow them to fail and keep going – innovation and excellence demands this. Men have more experience with failure, they grow through failure, but women shrink through failure – this is a fundamental difference organisations need to consider. Please normalise failure as a step in the process of learning and innovating.

 

The National Property Awards 2023: On Thursday, the National Property Awards took place at the Intercontinental Hotel and it was a terrific night of celebration for the 400+ industry in attendance. Catch up on the celebrations and learn about the winners of the night here: https://propertydistrict.ie/national-property-awards-2023/

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: 

 

• The Reit man: How one man helped shape Dublin’s cityscape: Industry veteran Dr Bill Nowlan, who has just received a Lifetime Achievement Award at the National Property Awards, says his road to Damascus moment came when he started working with Focus Ireland https://www.businesspost.ie/property/the-reit-man-how-dr-bill-nowlan-helped-shape-the-dublin-cityscape/

 

• FactFind: How effective was the eviction ban in reducing homelessness? Government claims that the eviction ban has not reduced homelessness have been met with strong criticism.  https://www.thejournal.ie/fact-find-eviction-ban-6014518-Mar2023/

 

• Ireland declares war on landlords – and puts its economic miracle at risk: Buy-to-let restrictions are damaging country’s attractiveness to big tech https://www.telegraph.co.uk/business/2023/03/09/ireland-declares-war-landlords-puts-economic-miracle-risk/

 

• The mere fact that this is even a question is a big part of Ireland’s housing problem… ‘What’s worse: giving landlords incentives or watching families becoming homeless?’ https://m.independent.ie/opinion/comment/whats-worse-giving-landlords-incentives-or-watching-families-becoming-homeless-42378735.html

 

• Government leaders agree to lift eviction ban at the end of the month  https://m.independent.ie/irish-news/politics/government-leaders-agree-to-lift-eviction-ban-at-the-end-of-the-month-42372642.html

 

 

• McGrath assessing small landlord tax breaks rejected by Donohoe last year: The now Minister for Public Expenditure rejected a range of proposals to stem the exodus of landlords from the market, just before the eviction ban last year  https://www.businesspost.ie/politics/mcgrath-assessing-small-landlord-tax-breaks-rejected-by-donohoe-last-year/

 

• Capitulation to SF leaves government afraid to back sensible housing policy: Fianna Fáil and Fine Gael should have a basic understanding of the need for landlords in the market; instead, they have tried to regulate them out of existence as they look over their shoulder at the opposition  https://www.businesspost.ie/analysis-opinion/lucinda-creighton-capitulation-to-sf-leaves-government-afraid-to-back-sensible-housing-policy/

• Varadkar hits out at ‘demonisation’ of landlords: A false narrative that pits landlords against renters is exacerbating Ireland’s homelessness problems  https://www.breakingnews.ie/ireland/varadkar-hits-out-at-demonisation-of-landlords-1444245.html

 

• Taoiseach registers as a landlord for first time: Varadkar declares Castleknock apartment where he lived before moving into partner’s home on Register of Interests  https://www.irishtimes.com/ireland/housing-planning/2023/03/08/taoiseach-registers-as-a-landlord-for-first-time/

 

• Seven TDs officially declared themselves as landlords for the first time in 2022: 25 TDs derived an income from being a landlord last year.  https://www.thejournal.ie/landlord-tds-2022-dail-register-of-interests-6014456-Mar2023/

 

• Charity predicts record number of homeless as just 1,231 properties are now available for rent: https://m.independent.ie/irish-news/charity-predicts-record-number-of-homeless-as-just-1231-properties-are-now-available-for-rent-42375281.html Also: Homelessness risk: Here’s how many eviction notices there were in each county before the ban kicked in  https://m.independent.ie/irish-news/homelessness-risk-heres-how-many-eviction-notices-there-were-in-each-county-before-the-ban-kicked-in-42380832.html

 

• What kind of rental market do we want? Someone should ask the next generation – Homes are just being shuffled between two under-supplied markets: rental and home ownership  https://www.irishtimes.com/opinion/2023/03/11/cliff-taylor-what-kind-of-rental-market-do-we-want-someone-should-ask-the-next-generation/

 

• Rent Pressure Zones: Is there any precedent, where the Government forced a business, to sell its goods or service, below the market rate? And if so, does the Revenue Commissioners accept this loss as an offset against current or future income? https://www.irishtimes.com/your-money/2023/03/05/rent-pressure-zone-is-costing-my-niece-620-a-month-in-rental-income/

 

• Proposed changes to Capital Gains Tax could boost rental supply – Govt  https://www.rte.ie/news/business/2023/0308/1361083-proposed-changes-to-cgt-could-boost-rental-supply/

 

• State urged to fund tens of thousands of ‘uncommenced’ planning permissions  https://www.irishexaminer.com/news/arid-41087458.html

 

• Varadkar reveals deficit of 250,000 homes in State, admitting crisis will take time to solve: Taoiseach told Fine Gael party meeting that 35,000 homes are under construction in 2023  https://www.irishtimes.com/politics/2023/03/08/varadkar-reveals-deficit-of-250000-homes-in-state-admitting-crisis-will-take-time-to-solve/

 

• Income limits for cost-rental scheme may be raised to include households earning over €100,000: Government scrambles to address the rental crisis as RTB figures show 4,741 notices of termination were served in third quarter of 2022  https://www.irishtimes.com/politics/2023/03/11/government-considers-raising-income-limits-for-cost-rental-scheme-to-address-crisis/

 

• Ex-FG minister urged O’Brien to intervene in Wicklow property dispute: Last year, Wicklow County Council backed out of a deal to lease homes from Arresico Ireland after it ‘consistently failed’ to deliver social housing units on time https://www.businesspost.ie/news/ex-fg-minister-urged-obrien-to-intervene-in-wicklow-property-dispute/

 

• Irish property funds suspend client withdrawals amid cash calls spike: Move comes amid darkening commercial property outlook https://www.irishtimes.com/business/2023/03/07/irish-life-restricts-investors-taking-cash-out-of-500m-property-fund/ Also: Writedowns of almost €240m wipe 7 per cent off value of Irish property funds: Value of eight of largest funds has dropped as the commercial real estate market continues to correct in the face of rising interest rates and weak demand  https://www.businesspost.ie/news/writedowns-of-almost-e240m-wipe-7-per-cent-off-value-of-irish-property-funds/

 

• Housing costs: How does Ireland compare to the rest of Europe? Rocketing rents and utility prices mean that Ireland now has highest housing costs across the EU-27  https://www.irishtimes.com/your-money/2023/03/07/housing-costs-how-does-ireland-compare-to-the-rest-of-europe/

 

• If this is genuinely reflective of public consultation and community engagement, it is unacceptable… ‘Property developers ‘intimidating’ residents’ groups over planning: Locals threatened with defamation action and legal costs over planning concerns’ https://www.irishtimes.com/ireland/housing-planning/2023/03/07/property-developers-intimidating-residents-groups-over-planning-objections-committee-hears/

 

• Pubs to homes in Mayo: ‘If we had to go through the usual planning it could have been refused’: Developments are exempt from planning process and their completion can be fast-tracked  https://www.irishtimes.com/ireland/housing-planning/2023/03/07/one-time-pubs-in-mayo-towns-set-to-become-homes/

 

• Will Ireland’s reliance on multinationals prove to be a bridge too far? The country’s record and its distortive impact on the eurozone has led a growing number of economists to question whether it really is a growth superstar  https://www.thetimes.co.uk/article/will-irelands-reliance-on-multinationals-prove-to-be-a-bridge-too-far-bllz6j237

 

• Bank of Ireland has reported €1.2 billion in underlying profit before tax for the year to the end of December as it grew its customer base by over 11%.  https://www.rte.ie/news/business/2023/0307/1360679-bank-of-ireland-annual-results/

 

• Central Bank warns poor housing supply is a ‘constraint’ on Irish economy: The Bank revised its consumer price inflation forecasts down to 5% due to a more positive outlook for energy prices this year.  https://www.thejournal.ie/central-bank-revises-consumer-inflation-downwards-6012528-Mar2023/

 

• Setanta Construction is looking for a family to live rent-free for a year in their new SoLow Passive House! Magherafelt three-bedroom property is now ready for occupants to move in and live rent free for a year as part of a passive house research monitoring project by Ulster University  https://www.newsletter.co.uk/business/setanta-construction-is-looking-for-a-family-to-live-rent-free-for-a-year-in-their-new-solow-passive-house-4043840

 

• Women have raced into the boardroom, but now comes the hard part – Pilita Clark: Appointing more female chief executives and chairs is a challenge that will take longer  https://www.irishtimes.com/business/work/2023/03/06/women-have-raced-into-the-boardroom-but-now-comes-the-hard-part/

 

• Ipav chief Pat Davitt appointed to board of international real estate body: Ireland is one of the most ‘regulated countries’, says Davitt, as he backs Government’s move to end evictions ban  https://www.irishtimes.com/property/residential/2023/03/09/ipav-chief-pat-davitt-appointed-to-board-of-international-real-estate-body/

 

• Housing agency Respond’s two new key senior executives: Olivia McCann and Parag Joglekar to play key roles helping Respond in delivering much-needed 1,453 high-quality, social and affordable homes  https://www.irishexaminer.com/business/companies/arid-41089282.html

 

• The reality of renting in Ireland: A shared room in a house with 20 tenants for €760 a month: There are 305 rooms available for rent in non-owner-occupied premises in Dublin city on property website Daft; 107 of these rooms cost over €1,000 a month https://www.irishtimes.com/ireland/housing-planning/2023/03/10/the-reality-of-renting-in-ireland-a-shared-room-in-a-house-with-20-tenants-for-760-a-month/

 

• Artificial surfaces double in 30 years as concrete and tar spread over land  https://m.independent.ie/news/environment/artificial-surfaces-double-in-30-years-as-concrete-and-tar-spread-over-land-42380796.html

 

• Irish-registered entities in Saudi mansion story  https://m.independent.ie/business/irish/irish-registered-entities-in-saudi-mansion-story-42381262.html

 

 

 

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!

This week on iPropertyRadio

 

 

Why is digitalisation so fundamental to the future of real estate?

 

In the iPropertyRadio.com Proptech Hot Seat with host Carol Tallon this week is Sarah Geiger and Sebastian Schuon of Alasco. Alasco is a digital platform that helps real estate owners manage costs, profits, and ESG data from all assets through a single interface. With over 200 real estate firms already using it, Alasco enables improvements in ROI and ESG performance. By centralising project finances, Alasco helps companies set benchmarks and forecast output. Its software is expected to drive efficiency and improve performance in the real estate industry, making it a must-have tool for success.

 

Watch back and listen back: https://ipropertyradio.com/proptech-hot-seat/ 

Produced by Hear Me Roar Media https://hearmeroarmedia.com 

 

 

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Céard é Comhfhorbairt Áite? “Teastaíonn dea-áitíocht saineolaithe ildisciplíneacha freagraí a chur ar fáil, ach tugann áitíocht maith guth don phobal chun na ceisteanna cearta a chur ar bun.” 👉https://placeengage.com/ceard-e-comhfhorbairt-aite/

 

• How to engage the community in placemaking in 2023 | PLACEengage  https://placeengage.com/how-to-engage-the-community-in-placemaking-in-2023/

 

• Fred Cooke’s Gaeltacht diary: It’s a teenage rite of passage, but Fred Cooke wasn’t tempted. Now, living with his Gaeilgeoir wife and son, the cúpla focail have never been more tábhachtach. So, can a week in Ranafast put smacht on him?  https://m.independent.ie/entertainment/television/fred-cookes-gaeltacht-diary-like-alcoholics-anonymous-step-one-is-admitting-you-have-a-problem-you-cant-speak-irish-42374937.html
  
  

 

• Urban Land Institute (ULI) in Ireland has appointed Marie Hunt as its chair for 2023/24.  https://www.propertyweek.com/news/marie-hunt-steps-up-as-uli-ireland-chair/5124240.article

 

• Making public consultation meaningful remains a huge challenge: We know that proper engagement with local communities can improve design, but getting the model right is difficult https://www.bdonline.co.uk/opinion/making-public-consultation-meaningful-remains-a-huge-challenge/5122020.article

 

• Eviction ban: ‘Mam, are we going to have a home?’ Lisa and her three children cannot find a home to move to, while Helen plans to live in her car when she is evicted next month  https://www.irishtimes.com/ireland/housing-planning/2023/03/08/eviction-ban-termination-renters-are-classed-as-statistics-not-human-beings/

 

• Seachtain na Gaeilge: Gaeltacht areas are ‘in crisis’ – Conradh na Gaeilge: The 2016 census revealed there were 1,761,420 people in the Republic who could hold a conversation as Gaeilge. https://www.newstalk.com/news/seachtain-na-gaeilge-gaeltacht-areas-are-in-crisis-conradh-na-gaeilge-1443543

 

• Celbridge Dart plan gets green light to move to planning application: Cabinet decision comes as An Bord Pleanála announces delay of up to nine months in Dart extension to Maynooth  https://www.irishtimes.com/ireland/dublin/2023/03/08/celbridge-dart-plan-gets-green-light-to-move-to-planning-application/

 

• New community-based CCTV system has been activated in Blessington. It is hoped this will act as a deterrent to anti-social behaviour and criminal activity https://wicklownews.net/2023/03/long-awaited-cctv-system-activated-in-blessington/

 

• Cork’s secret tunnels underneath our feet! Cork city has several underground tunnels that were built for various reasons and are now covered over, reveals JO KERRIGAN in this week’s Throwback Thursday  https://www.echolive.ie/nostalgia/arid-41088730.html

 

• Cork Council urged to issue CPO for derelict mansion Vernon Mount House: Vernon Mount House, a neo-classical Georgian mansion built in the 1780s and overlooking Cork’s South Ring Road, has fallen into dereliction in recent years and was badly fire damaged https://www.echolive.ie/corknews/arid-41085991.html

 

• BusConnects Cork project drops proposals for some bus and bike lanes: The revised proposals are due to be published for more public consultation by the end of this month or early next month  https://www.irishexaminer.com/news/munster/arid-41087494.html

 

• Cork cllrs briefed on progress of Mallow-Dungarvan greenway: Project team to meet with landowners along the route ahead of second public consultation phase  https://m.independent.ie/regionals/corkman/news/cork-cllrs-briefed-on-progress-of-mallow-dungarvan-greenway-42373823.html

 

• Positive public reaction to transformative Dublin Road BusConnects project in Galway city  https://galwaybayfm.ie/galway-bay-fm-news-desk/positive-public-reaction-to-transformative-dublin-road-busconnects-project-in-galway-city/

 

• City seeks to annex Oranmore, Claregalway, Moycullen and Barna in boundary extension  https://connachttribune.ie/city-seeks-to-annex-oranmore%E2%80%88claregalway-moycullen-and-barna-in-boundary-extension-709/

 

• Locals object to Ballinderreen to Kilcolgan Cycleway being routed through SAC lands  https://galwaybayfm.ie/galway-bay-fm-news-desk/locals-object-to-ballinderreen-to-kilcolgan-cycleway-being-routed-through-sac-lands/

 

• Galway people warned work together to keep signature town building alive or closure looms: It’s a difficult time but residents are being urged to rally together  https://www.galwaybeo.ie/news/galway-people-warned-work-together-8221094

 

• The Irish island using virtual means to tackle healthcare and loneliness: Clare Island Home Health Project plans to trial everything from virtual outpatient clinics for diabetes to health promotion activities for all islanders  https://www.irishtimes.com/health/your-wellness/2023/03/08/the-irish-island-using-virtual-means-to-tackle-healthcare-and-loneliness/

 

• Have your say: Residents of village in Kildare encouraged to take part in survey  https://www.kildarenow.com/news/home/1057638/have-your-say-residents-of-village-in-kildare-encouraged-to-take-part-in-survey.html?utm_source=newsshowcase&utm_medium=discover&utm_campaign=CCwQ0Y-Zi_qhjPL3ARj2y9vqw_qA5qgBKikIMBD3j-24qvvggFkY8NbwjIP40qSrASoQCAAqBwgKMN6Epgswxo–Aw&utm_content=bullets

 

• ‘Rural Ireland is on the rise, thanks to remote working and cheaper homes: More and more young people are fleeing Dublin for plugged-in, vibrant countryside idylls’ https://www.irishtimes.com/opinion/2023/03/11/david-mcwilliams-rural-ireland-is-on-the-rise-thanks-to-remote-working-and-cheaper-homes/?

 

• Athlone’s potential for growth is enormous,’ strategy launch hears  https://www.westmeathindependent.ie/2023/03/06/athlones-potential-for-growth-is-enormous-strategy-launch-hears/

 

• Reopening of pub serves as further marker of successful rural regeneration of a Laois village  https://www.laoistoday.ie/2023/03/10/reopening-of-pub-serves-as-further-marker-of-successful-rural-regeneration-of-a-laois-village/

 

• From glorified sheds to courtyard bike storage, architect duo Meme are all about finding elegant solutions to practical problems  https://www.image.ie/living/from-glorified-sheds-to-courtyard-bike-storage-architect-duo-meme-are-all-about-finding-elegant-solutions-to-practical-problems-716957

 

CONSTRUCTION & DEVELOPMENT NEWS

• Planning permissions sink 43% at end of 2022 – CSO  https://www.rte.ie/news/business/2023/0310/1361421-cso-planning-permissions/ Also: Number of planning permissions for new homes drops sharply: CSO data point to 20.5 per cent fall-off in number of dwelling units granted planning in 2022 with apartment permissions showing the steepest fall  https://www.irishtimes.com/business/economy/2023/03/10/number-of-planning-permissions-for-new-homes-drops-sharply/

 

• An Bord Pleanála delays contribute to fall in planning permissions for apartments  https://www.irishexaminer.com/news/arid-41090092.html

 

• Planning uncertainty and lack of sites likely to slow development land sales – Higher costs and viability concerns mean lenders will be likely to support smaller housing-led schemes over developments with a significant risk profile  https://www.businesspost.ie/property/planning-uncertainty-and-lack-of-sites-likely-to-slow-development-land-sales/

 

• Developers redrawing tens of thousands of housing plans: New government rules that could allow developers to double numbers of own-door houses, a response to the increasing unviability of apartments, are sending developers back to the drawing board https://www.businesspost.ie/news/developers-redrawing-tens-of-thousands-of-housing-plans/

 

• Reform of work permit law will protect rights of foreign workers: Change will enable non-EU employees to switch jobs without needing a new permit, and improve pay and conditions for all workers in the sector  https://www.businesspost.ie/news/reform-of-work-permit-law-will-protect-rights-of-foreign-workers/

 

• Harry Crosbie’s grand plan for Dublin’s docks: ‘There’s only one person who can do this’: The developer has garnered support from the local community, Bono and Bob Geldof for his latest, ambitious plan for the city’s docklands: https://www.businesspost.ie/news/harry-crosbies-grand-plan-for-dublins-docks-theres-only-one-person-who-can-do-this/

 

• Carbon, Construction Contracts And (Life) Cycle  https://www.mondaq.com/ireland/construction–planning/1287988/carbon-construction-contracts-and-life-cycle

 

• Developer challenges Dublin City Council’s decision to restrict build-to-rent schemes: Lioncor’s planning application for development of 364 rental units on former Terenure College playing fields was refused by An Bord Pleanála  https://www.irishtimes.com/business/2023/03/06/developer-challenges-dublin-city-councils-decision-to-restrict-build-to-rent-schemes/

 

• EU’s top court paves way for controversial development plan for Dublin 8: US property group Hines could return to the High Court as soon as Monday to seek dismissal of judicial review  https://www.irishtimes.com/business/2023/03/10/eus-top-court-paves-way-for-controversial-bailey-gibson-site-plan/

 

• Irish Life announces major redevelopment of Dublin city centre HQ: Main block at Lower Abbey Street campus to grow by 40% in size, with works to be completed by 2026  https://www.irishtimes.com/property/commercial-property/2023/03/10/irish-life-announces-major-redevelopment-of-dublin-city-centre-hq/

 

• Lioncor on course to deliver new European Parliament office in Dublin: Developer hosts topping-out ceremony at new headquarters for the European Parliament in Dublin  https://www.irishtimes.com/property/commercial-property/2023/03/08/lioncor-on-course-to-deliver-new-european-parliament-office-in-dublin/

 

• Council outlines ‘serious’ concerns about planned redevelopment of St Stephen’s Green Shopping Centre: Dublin City Council concerned about height, scale, and massing of new centre and its potential impact on other retailers in the area  https://www.irishtimes.com/business/2023/03/07/council-outlines-serious-concerns-about-planned-redevelopment-of-st-stephens-green-shopping-centre/

 

• Developer of O’Connell Street’s Carlton cinema site challenges decision to give buildings protected status: UK property group Hammerson is awaiting five separate planning decisions for its redevelopment project  https://www.irishtimes.com/crime-law/courts/2023/03/06/developer-of-oconnell-streets-carlton-cinema-site-challenges-decision-to-give-buildings-protected-status/

 

• Planning granted for regeneration of derelict Sunset Ridge Hotel outside Cork City: Cork City Council granted planning to developers Oshawott Limited on Friday for the demolition of the former Sunset Ridge Hotel at Killeens  https://www.irishexaminer.com/news/munster/arid-41090038.html

 

• Pausing Of Construction On 58 Schools ‘Sucker Punch’ To Parents And Pupils  https://www.midlands103.com/news/midlands-news/pausing-of-construction-on-58-schools-sucker-punch-to-parents-and-pupils/

 

• Objections to ‘unnecessary’ land purchase for Cork schools site: Landowners say other sites should have been considered to house two schools currently in temporary rented buildings  https://www.irishexaminer.com/news/munster/arid-41089387.html

 

• Cork County Council refuses planning permission for 88-unit residential development in Mallow  https://m.independent.ie/regionals/corkman/news/cork-county-council-refuses-planning-permission-for-88-unit-residential-development-in-mallow-42376151.html

 

• Lough bistro plans appealed to An Bord Pleanála: The plans attracted objections from some local residents  https://www.echolive.ie/corknews/arid-41090161.html

 

• Works get underway on the multi-million euro North Quays development in Waterford – Kilkenny stands to benefit hugely from this project too says the county council’s acting chief https://kclr96fm.com/works-get-underway-on-the-multi-million-euro-north-quays-development-in-waterford/

 

 

• Amgen to scale back plan for €1bn Waterford campus: US biotech company will not need the large campus proposed by Horizon, which it is in the process of acquiring  https://www.businesspost.ie/news/amgen-to-scale-back-plan-for-e1bn-waterford-campus/

 

• Landmark Carlow gateway site on market – The generous site comprises a mixed development including a business centre, a listed period house with a courtyard and an industrial building  https://www.businesspost.ie/property/landmark-carlow-gateway-site-on-market/

• Sligo County Council have announced housing plans for Collooney, Carney and Grange. One site in Collooney is set to deliver 20 houses in 2024, with a further 15 planned for Grange by 2026. https://www.oceanfm.ie/2023/03/08/housing-plans-announced-for-sligo/

 

• Contract signed for construction of 38 council houses in Offaly  https://www.offalyexpress.ie/news/local-news/1051913/contract-signed-for-construction-of-38-houses-in-clara.html

 

• Megalift to add ten jobs in Monaghan expansion  https://www.rte.ie/news/regional/2023/0306/1360510-monaghan-jobs/

 

• Bellamont Castle owner resolves High Court challenge against ABP  https://www.northernsound.ie/news/bellamont-castle-owner-resolves-high-court-challenge-against-abp-211316

 

• Wexford man airlifted to University Hospital Waterford following fall at construction site  https://m.independent.ie/regionals/wexford/news/wexford-man-airlifted-to-university-hospital-waterford-following-fall-at-construction-site-42374037.html

 

• Following the acquisition in April 2022 of construction specialists KMCS, KPMG has announced the appointment of Wes Jesson as the new Managing Director of the renamed KPMG Construction Advisory. KMCS founder Nigel Spence will continue to act as a senior consultant to the business https://irishbuildingmagazine.ie/2023/03/06/kpmg-construction-advisory-names-wes-jesson-as-md/

 

• Glenveagh executives sell €1.08m of shares after exercising options: Management team benefit from rally by housebuilder’s shares so far this year following sell-off in 2022  https://www.irishtimes.com/business/2023/03/08/glenveagh-executives-sell-108m-of-shares-after-exercising-options/

 

• Claridges owner does not see ‘material impact’ from McKillen dispute: Paddy McKillen claims he is owed billions of pounds under a profit-share agreement struck with the Qataris in 2015  https://www.irishtimes.com/business/2023/03/06/claridges-owner-doesnt-see-material-impact-from-mckillen-dispute/

 

• School places are falling well behind the construction of new homes  https://www.kildarenow.com/news/home/1054282/kildare-school-places-are-falling-well-behind-the-construction-of-new-homes.html

 

• Homebuilder Ballymore Cuts Dozens of Jobs Amid Housing Slump: Firm making 30 of its roughly 800-strong workforce redundant: Homebuilders Vistry, Taylor Wimpey have also warned of layoffs  https://www.bloomberg.com/news/articles/2023-03-09/homebuilder-ballymore-cuts-dozens-of-jobs-amid-uk-housing-slump

 

 

• Irish construction manager sues Qatari royals for defamation: Plaintiff says letters alleging his misconduct on hotel sites have caused people in his industry to ‘shun him’  https://www.businesspost.ie/news/irish-construction-manager-sues-qatari-royals-for-defamation/
  
  

 

 

PROPTECH, ESG, MMC & 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

 

• Ireland’s Proptech of the Year Award Winner 2023 https://prop-tech.ie/irelands-proptech-of-the-year-award-winner-2023/Ireland’s

 

• TechIreland: FEMALE FOUNDER FUNDING REVIEW 2023: Women-led startups in Ireland have raised a record-breaking €234m in funding in 2022, according to a new report by TechIreland. This surpasses the previous year’s record of €230m and indicates that women have continued to perform well despite a drop in funding for startups in general https://prop-tech.ie/techireland-female-founder-funding-review-2023/ 

 

• Silicon Valley Bank, proptech hub for real estate clients, collapses: In the most dramatic banking implosion since the Great Recession, regulators on Friday shut down the bank, which boasted ties to proptechs, including Airbnb, Opendoor and OJO https://www.inman.com/2023/03/10/silicon-valley-bank-proptech-hub-for-real-estate-clients-collapses/

 

• What you need to know about raising a Series A  https://techcrunch.com/2023/03/07/how-to-raise-series-a-techcrunch-early-stage-2023/

 

• Top 6 Proptech Trends Impacting Real Estate in 2023: Real estate development and investment is ever-changing due to incredible new leaps forward with technology. The goals of proptech advances for real estate investors are to simplify the building and selling processes, increase efficiency and drive profitability https://bmmagazine.co.uk/business/the-top-6-proptech-trends-impacting-real-estate-in-2023/

 

• Knight Frank strikes deal with innovative valuations proptech – Valos and Knight Frank have agreed a collaboration they say will improve valuation reports for residential and commercial properties.  https://thenegotiator.co.uk/knight-frank-strikes-deal-with-valuations-firm/

 

• Trends And Opportunities In The Evolving World Of Commercial Real Estate (CRE)  https://www.forbes.com/sites/forbesbusinesscouncil/2023/03/09/trends-and-opportunities-in-the-evolving-world-of-commercial-real-estate-cre/

 

• Who Says You Can’t Teach An Old Dog New Tricks? The Case For AI In Construction  https://www.forbes.com/sites/angelicakrystledonati/2023/03/07/who-says-you-cant-teach-an-old-dog-new-tricks-the-case-for-ai-in-construction/?sh=486bfa903654

 

• PropTech Today – Simpler, faster, cheaper – three characteristics of a tech solution  https://www.estateagenttoday.co.uk/breaking-news/2023/3/proptech-today–simpler-faster-cheaper–three-characteristics-of-a-tech-solution?source=newsticker

 

• Proptech company Masteos closing in on $13M funding round – AIM Group https://aimgroup.com/2023/03/08/proptech-company-masteos-closing-in-on-13m-funding-round/

 

• Allegion Ventures Marks Five-Year Anniversary with Investment in Proptech Startup Latchel https://www.prnewswire.com/news-releases/allegion-ventures-marks-five-year-anniversary-with-investment-in-proptech-startup-latchel-301766148.html

 

 

ENERGY, CLIMATE & ENVIRONMENT

• Kilkenny windfarm gets planning permission for development  https://www.kilkennypeople.ie/news/north-kilkenny/1053534/kilkenny-windfarm-gets-planning-permission-for-development.html

 

• Ireland likely to miss 2030 renewable energy targets due to offshore wind policy U-turn: Mid-process move to centralised plan-led system leading to uncertainty among international wind energy investors  https://www.businesspost.ie/news/ireland-likely-to-miss-2030-renewable-energy-targets-due-to-offshore-wind-policy-u-turn/

 

• Change of direction on offshore wind farms raises investors’ fears: Energy industry experts warn that the government’s sudden policy shift will make it much harder for Ireland to meet its 2030 targets  https://www.businesspost.ie/news-focus/change-of-direction-on-offshore-wind-farms-raises-investors-fears/

 

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Natasha Rocca Devine Celebrates the Launch of Her Latest Book:  The Step-By-Step Guide to Designing & Styling Your Home https://ipropertyradio.com/natasha-rocca-devine-celebrates-the-launch-of-her-latest-book/

 

• Abrdn Looks Beyond City Centre For More BTR Opportunities – Dublin remains a key target for Abrdn’s Pan European Residential Property Fund, or aPER, after it completed the purchase of Roselawn, a multifamily/build-to-rent scheme in Dublin for €70M https://www.bisnow.com/dublin/news/build-to-rent/abrdn-looks-beyond-city-centre-for-more-btr-opportunities-118034

 

• Surge in house prices pushes more people into inheritance tax net, new figures show: Galway/Roscommon region sees biggest increase in number of people caught in capital acquisitions tax net  https://www.irishtimes.com/property/2023/03/11/surge-in-house-prices-pushes-more-people-into-inheritance-tax-net-new-figures-show/

 

• Nine things you need to know when buying a new home: You can still afford to dream, just don’t lose touch with reality when embarking on the biggest purchase of your life  https://www.irishtimes.com/property/residential/2023/03/09/nine-things-you-need-to-know-when-buying-a-new-home/

 

• Landlords selling property will have to give tenant option to buy under new scheme: The First Home Scheme is to be amended to include tenants who wish to buy the property when their landlord is selling up.  https://www.thejournal.ie/tenant-option-to-buy-6012848-Mar2023/

 

• Excessive regulation and rental markets – Departure of private landlords  https://www.irishtimes.com/opinion/letters/2023/03/07/excessive-regulation-and-rental-markets/

 

• A third of 270 rental properties near UCC not registered with RTB, say residents: Magazine Rd residents say they told the Residential Tenancies Board about 67 of the 100 non-registered properties back in 2017  https://www.irishexaminer.com/news/munster/arid-41088724.html

 

• Tenant awarded €15,000 against ‘intimidating’ landlord who refused Hap: Landlord Michael Woodlock told tenant ‘we don’t do business’ with State’s housing assistance scheme  https://www.irishtimes.com/ireland/housing-planning/2023/03/08/tenant-awarded-15000-against-intimidating-landlord-who-refuses-hap/

 

• Government must act now to stop landlords leaving market, warns estate agents https://www.irishexaminer.com/news/arid-41087992.html

 

• Low uptake of tenant-in-situ scheme as house purchases set to miss 1,500 target: Scheme encourages local authorities to buy homes to keep State-supported tenants from being evicted into homelessness  https://www.irishtimes.com/ireland/2023/03/10/low-uptake-of-tenant-in-situ-scheme-as-house-purchases-set-to-miss-1500-target/

 

• Energy rating an important consideration for prospective house buyers – MyHome study  https://www.rte.ie/news/business/2023/0306/1360391-energy-rating-an-important-consideration-for-buyers/

 

• Arrears of €34,000, smashed balcony glass and ‘serious anti-social behaviour’ among complaints to rental watchdog: Rent arrears and overholding the most common reasons for landlords taking dispute cases to the Residential Tenancies Board  https://m.independent.ie/irish-news/arrears-of-34000-smashed-balcony-glass-and-serious-anti-social-behaviour-among-complaints-to-rental-watchdog-42375279.html

 

• Homeowners denied full home insurance cover due to flood risk fears based on ‘map errors’: Denial of full home insurance prevents homeowners from switching mortgages and moving home  https://m.independent.ie/business/personal-finance/insurance/homeowners-denied-full-home-insurance-cover-due-to-flood-risk-fears-based-on-map-errors-42370985.html

 

• Aimed at people moving to a new city, or for a short time for training or medical rotations, or just starting out in a job, the co-living concept offers an equipped pad, utilities and services included with no messy bill splits, a ready-made community but with some personal space.  https://www.irishtimes.com/life-style/2023/03/10/first-look-is-there-room-to-swing-a-cat-in-dun-laoghaires-new-co-living-development/

 

• Works to transform landmark Waterford City building for housing almost complete  https://www.wlrfm.com/news/works-to-transform-landmark-waterford-city-building-for-housing-almost-complete-295385

 

• Killarney is the single-most difficult challenge Kerry County Council faces in housing, according to the council’s Director of Housing, Martin O’Donoghue https://www.radiokerry.ie/news/killarney-the-most-difficult-housing-challenge-facing-kerry-county-council-321263

 

• 124 housing estates taken in charge by Tipperary County Council since 2016  https://tippfm.com/news/housing/124-housing-estates-taken-charge-tipperary-county-council-since-2016/

 

• Ciaran Cannon says Airbnb important for attracting tourism to rural areas  https://connachttribune.ie/ciaran-cannon-says-airbnb-important-for-attracting-tourism-to-rural-areas/

 

• Homeowner unable to get flood cover says ‘40-year history of the area seems to have been ignored’  https://m.independent.ie/irish-news/homeowner-unable-to-get-flood-cover-says-40-year-history-of-the-area-seems-to-have-been-ignored-42370992.html

 

• What to keep in mind when installing a heat pump: Building engineer Kieran McCarthy explains your options for heat pumps in a new home https://www.irishexaminer.com/property/residential/arid-41086540.html

 

• Victorian pile on Dalkey’s prestigious coast for €3.75m – House of 293sq m is not a protected structure, so new owners will have wide scope and few parameters to deal with during planning and renovations  https://www.irishtimes.com/property/residential/2023/03/09/victorian-pile-on-dalkeys-prestigious-coast-for-375m/

 

• New homes schemes starting in Dublin: Selected apartments, duplexes and houses from Swords to Shankill – New developments, and the latest phases of existing schemes, in the north, south and west of the county, as well as in the south city  https://www.irishtimes.com/property/residential/2023/03/09/new-homes-in-dublin-selected-apartments-duplexes-and-houses-from-swords-to-shankill/

 

• Number of Cork properties to go under the hammer during online auction: Plenty of options available for first-time buyers and investors at March 30 auction  https://m.independent.ie/regionals/corkman/news/number-of-cork-properties-to-go-under-the-hammer-during-online-auction-42380224.html

 

• Global interest in new €30m luxury home development in Limerick village  https://www.limerickleader.ie/news/home/1057981/global-interest-in-new-30m-luxury-home-development-in-limerick-village.html

 

• New homes to buy in Wicklow: From garden of Ireland to a lifestyle destination: Much building is happening in coastal communities backed by the mountains with connectivity by national roads and rail  https://www.irishtimes.com/property/residential/2023/03/12/wicklow-turning-the-garden-of-ireland-into-a-lifestyle-destination/

 

• New homes to buy in Kildare: A-rated homes within easy reach: There are two sides to this commuter county, with highest property prices in the areas closest to Dublin and slightly lower prices to the south  https://www.irishtimes.com/property/residential/2023/03/10/kildare-a-variety-of-a-rated-new-homes-available/

 

• Historic Normandy stud farm with château comes to market: The 325-hectare French estate, which has been under the ownership of the Niarchos family for over 40 years, comprises three main residences and 325 hectares of grazing, woodlands and park lands  https://www.businesspost.ie/property/historic-normandy-stud-farm-with-cha%CC%82teau-comes-to-market/

 

• Darren Kennedy: Balance cosy with chic for a home with style and comfort: Discover the simple edits that will brings your home the ‘refined comfort’ you dream of for a polished, calm interior space  https://m.independent.ie/life/home-garden/interiors/darren-kennedy-balance-cosy-with-chic-for-a-home-with-style-and-comfort-42363306.html

 

• RTÉ’s Home of the Year: From schoolhouse to dream house: As finalist gives architect Hugh Wallace a lesson about ‘giant coffee cups’ in Mayo, we take a look at all three cool living spaces  https://www.irishexaminer.com/property/homeandgardens/arid-41087827.html

 

• Local man recreates times gone by with new cottage  https://www.northernsound.ie/news/local-man-recreates-times-gone-by-with-new-cottage-211510

 

• Why Brutalism Is Making an Interior-Design Comeback in 2023  https://www.vogue.com/article/why-brutalism-is-making-a-comeback-in-2023

 

• Cooking up some great ideas for a new kitchen: From the colour of the walls and the worktops to lighting and appliance choices, there’s plenty to get your teeth into when overhauling the most important room in the house  https://www.businesspost.ie/property/cooking-up-some-great-ideas-for-a-new-kitchen/

• Cheap European Homes: Maggie Molloy’s solution to soaring Irish prices – move to the Longford of Europe: A couple’s gung-ho move to Portugal says a lot about their adventurous spirit and also tells us a great deal about the state of the Irish market  https://www.irishtimes.com/culture/tv-radio/2023/03/09/cheap-european-homes-maggie-molloys-solution-to-soaring-irish-property-prices-move-to-the-longford-of-europe/

COMMERCIAL PROPERTY NEWS

• Commercial property prices could fall 23 per cent in the next two years, Bank of Ireland warns: Economic modelling carried out by Bank of Ireland has found that commercial property prices in Ireland could fall by 15 per cent this year and 8 per cent in 2024 in a worst case scenario for the market https://www.businesspost.ie/news/commercial-property-prices-could-fall-23-per-cent-in-the-next-two-years-bank-of-ireland-warns/

 

• Why are commercial property values here falling and why should we care?  https://www.rte.ie/news/business/2023/0311/1361531-why-are-commercial-property-values-here-falling/

 

• Irish banks see commercial real estate revaluations as manageable  https://www.reuters.com/markets/europe/irish-banks-see-commercial-real-estate-revaluations-manageable-2023-03-08/

 

• Dundrum Town Centre co-owner Hammerson narrows losses amid retail recovery: Sales and footfall rose at assets owned by the British property investor last year with 2023 getting off to a strong start https://www.irishtimes.com/business/2023/03/09/dundrum-town-centre-co-owner-hammerson-narrows-losses-amid-retail-recovery/ Also: The valuation of Irish flagship properties owned by Hammerson, a UK-based property development and investment group that co-owns Dundrum Town Centre, has increased by over £17m (€19m) to £676.4m https://m.independent.ie/business/irish/dundrum-co-owners-irish-property-valuation-up-19m-42381186.html

 

• Plans lodged to turn ground floor of CHQ building at IFSC into multi-stall food market: The CHQ building is located in the IFSC on Custom House Quay in Dublin.  https://www.thejournal.ie/plans-lodged-to-turn-ground-floor-of-chq-building-at-ifsc-into-multi-stall-food-market-6012208-Mar2023/

 

• Meta plans thousands more layoffs globally as soon as this week: Company cut 11,000 staff, including 350 in Ireland, last year  https://www.irishtimes.com/business/2023/03/07/meta-plans-thousands-more-layoffs-globally-as-soon-as-this-week/

 

• Blackrock’s Frascati Centre nears full occupancy as new and existing tenants sign for space: Homestore and More to open for business in basement level of former Debenhams store in May  https://www.irishtimes.com/property/commercial-property/2023/03/08/blackrocks-frascati-centre-nears-full-occupancy-as-new-and-existing-tenants-sign-for-space/

 

• Paypal’s Dublin office campus hits the market at €26m: Scheme on 20.7 acres expected to attract investors, developers and owner-occupiers given flexibility of buildings and site for range of uses  https://www.irishtimes.com/property/commercial-property/2023/03/08/paypals-dublin-office-campus-hits-the-market-at-26m/

 

• Foot Locker to open for business in Dublin’s Ilac Shopping Centre: Retailer signs deals for flagship premises at Henry Street scheme and new Pavilions Shopping Centre store  https://www.irishtimes.com/property/commercial-property/2023/03/08/foot-locker-to-open-for-business-in-dublins-ilac-shopping-centre/

 

• Refurbished Citywest office space available for lease: The own-door two-storey office has been fully retrofitted and boasts an A3 BER rating  https://www.businesspost.ie/property/refurbished-citywest-office-space-available-for-lease/

 

• Dunnes Stores plans huge refurb of ghostly Crumlin shopping centre  https://www.thetimes.co.uk/article/dunnes-stores-plans-huge-refurb-of-ghostly-crumlin-shopping-centre-g7gxvccbc

 

 

• Investment of €120k sees new whiskey bar and event space at McSwiggans in Galway – The Buckley Collection and Barry Cassidy bought the bar in Woodquay just before the pandemic  https://www.businesspost.ie/food-and-wine/investment-of-e120k-sees-new-whiskey-bar-and-event-space-at-mcswiggans-in-galway/
  
  

 

• Landmark Kilkenny pub and venue Cleere’s sold: Paul McCabe and Johnny Holden have confirmed they’ve bought the pub which they have been running in recent years.  https://kclr96fm.com/kk-pub-and-venue-cleeres-sold/

 

• Digital Hub signs 29 new leases despite looming closure date: Government announced dissolution of the agency in 2021 with its lands to be redeveloped for housing  https://www.irishtimes.com/business/2023/03/09/digital-hub-signs-29-new-leases-despite-looming-closure-date/

 

• Spar owner to focus on sites near new housing in plans for 60 more outlets  https://m.independent.ie/business/irish/spar-owner-to-focus-on-sites-near-new-housing-in-plans-for-60-more-outlets-42378723.html

 

• Waterford Crystal Leisure Centre sells for almost €1million  https://www.wlrfm.com/news/waterford-crystal-leisure-centre-sells-for-almost-e1million-295196

 

• Going is good at Leopardstown as €20m investment pays out handsomely  https://m.independent.ie/business/irish/going-is-good-at-leopardstown-as-20m-investment-pays-out-handsomely-42381348.html

 

• Planning permission granted for Athlone retailer  https://www.shannonside.ie/news/planning-permission-granted-for-athlone-retailer-220342

 

• Business unit in well established industrial estate in Naas  https://www.kildarenow.com/news/home/1057931/kildare-property-watch-business-unit-in-well-established-industrial-estate-in-naas.html

 

• Opportunity to acquire landmark Causeway Coastal Route hotel: The 35-bedroom Londonderry Arms Hotel in Carnlough, Co Antrim, was once owned by Winston Churchill and bought by the O’Neills, one of the longest established hotelier families in Ireland  https://www.businesspost.ie/property/opportunity-to-acquire-landmark-causeway-coastal-route-hotel/

 

 

 

INTERNATIONAL PROPERTY NEWS

 

• Exceptional villas offer luxury living in the sunny Algarve: Take your pick of these two desirable Portuguese properties in the exclusive Quinta do Lago and beachside Vale do Lobo resorts  https://www.businesspost.ie/property/exceptional-villas-offer-luxury-living-in-the-sunny-algarve/

 

• Estate agents now ‘depend’ on Rightmove, ‘the Google of the UK’s property market’, says analyst  https://propertyindustryeye.com/estate-agents-depend-on-rightmove-the-google-of-the-uks-property-market/

 

• The rise and rise of property guardianship and what it says about our broken housing system  https://theconversation.com/the-rise-and-rise-of-property-guardianship-and-what-it-says-about-our-broken-housing-system-201050

 

• Hundreds of jobs on the way as UK timber frame giant reveals plans for £45m HQ  https://www.thebusinessdesk.com/eastmidlands/news/2069225-hundreds-of-jobs-on-the-way-as-timber-frame-giant-reveals-plans-for-45m-hq

 

• Old walls, new life? Britain’s builders embrace the retrofit revolution: Refurbished offices can offer big carbon savings over the traditional approach of demolishing them and starting again  https://www.theguardian.com/business/2023/mar/11/old-walls-new-life-britains-builders-embrace-the-retrofit-revolution

 

• From poster child to worst performing EU economy: how bad housing policy broke Sweden https://www.theguardian.com/commentisfree/2023/mar/07/sweden-worst-performing-eu-economy-bad-housing-policy

 

• Share of affordable properties in Australian capital cities has more than halved, analysis shows  https://www.theguardian.com/australia-news/2023/mar/07/share-of-affordable-properties-in-australian-capital-cities-has-more-than-halved-analysis-shows

 

 

 

 

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/