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:

 

• Explainer: Why are private landlords selling up? https://www.rte.ie/news/business/2023/0304/1360043-explainer-why-are-private-landlords-selling-up/

 

• Where have all the second-hand properties in Ireland gone? Smart Money: Latest data shows supply of second-hand properties for sale is hugely constrained  https://www.irishtimes.com/your-money/2023/03/02/where-have-all-the-second-hand-houses-gone/

 

• Taoiseach: I have not thrown in towel on housing crisis or home ownership  https://www.breakingnews.ie/amp/ireland/taoiseach-i-have-not-thrown-in-towel-on-housing-crisis-or-home-ownership-1440431.html

 

• The Cabinet has agreed to funding of €20 million for 400 beds on two sites to provide accommodation to refugees from Ukraine and people seeking international protection here.  https://www.rte.ie/news/politics/2023/0303/1360021-politics-latest/

 

• Up to 400 direct provision residents have been given formal notice to leave their accommodation in Hotel Killarney later this month.  https://killarneyadvertiser.ie/news/400-direct-provision-residents-to-be-moved-out-of-hotel-killarney/

 

• Hotels ending refugee housing contracts will be a ‘problem’, Minister says: https://www.breakingnews.ie/ireland/government-tells-refugees-staying-in-hotels-they-will-be-moved-for-the-summer-1442159.html

 

• Tailte Éireann officially begins operations: A new State agency, brought about by the merger of the Property Registration Authority (PRA), the Valuation Office, and Ordnance Survey Ireland (OSI), has officially begun operating.  https://www.lawsociety.ie/gazette/top-stories/2023/march/tailte-eireann-officially-begins-operations

 

• Frank McDonald: The new Planning Bill empowers developers and weakens citizens: Local authorities’ role will be reduced to giving effect to national policy, and decisions will be harder to challenge in court https://www.irishtimes.com/opinion/2023/03/04/frank-mcdonald-the-new-planning-bill-empowers-developers-and-weakens-citizens/

 

• Housing market: bits done, lots more to do: Property editor Tommy Barker examines the “dysfunctional” Irish housing market  https://www.irishexaminer.com/property/residential/arid-41082778.html

 

• “Government has decided to sharpen the focus on delivery even further in 2023, putting responsibility for that focus with the Department of Public Expenditure…” https://www.gov.ie/en/speech/88a62-minister-donohoes-seanad-statement-on-the-national-development-plan-ndp/

 

• A national half-rent and savings scheme: Housing crisis calls for imaginative response  https://www.irishtimes.com/opinion/letters/2023/03/02/a-national-half-rent-and-savings-scheme/

 

• Cost of rebuilding some mica-affected houses has risen €50,000 in just one year  https://m.independent.ie/irish-news/cost-of-rebuilding-some-mica-affected-houses-has-risen-50000-in-just-one-year-42367656.html

 

• Niall Collins, statement on 2001 housing application: The three party leaders have stated their full confidence in the minister of state.  https://www.thejournal.ie/niall-collins-says-acted-correctly-planning-application-6006259-Feb2023/

 

• ‘80% increase’ in dogs being surrendered due to housing limits: The Dogs Trust sees nearly 3,000 annual surrender requests from people https://www.newstalk.com/news/80-increase-in-dogs-being-surrendered-due-to-housing-limits-1441720

 

• More than 50 pubs apply for conversion to homes without planning permission: Former drinking establishments looking for change of use spread across 24 local authority areas with 12 in Mayo alone  https://www.irishtimes.com/ireland/housing-planning/2023/02/27/more-than-50-pubs-apply-for-conversion-to-homes-without-planning-permission/

 

• This case highlights the need for thorough research and owner engage when tackling vacant and derelict properties: ‘Give elderly man back his home,’ Limerick council told https://www.limerickleader.ie/news/home/1043552/give-elderly-man-back-his-home-limerick-council-told.html

 

• DJ Carey AIB mortgage unregistered for 7 years  https://extra.ie/2023/03/05/news/dj-carey-aib-mortgage

 

• Afghan asylum seeker who claims he is a minor brings court case over being left homeless: The male says he did not have documentation to prove he is 17 when he applied for international protection this month  https://www.irishtimes.com/crime-law/courts/2023/02/27/afghan-asylum-seeker-who-claims-he-is-a-minor-brings-court-case-over-being-left-homeless/

 

• Call for national lead on housing for refugees has ‘fallen on deaf ears’, committee told: Lack of co-ordination between departments shows new approach needed, Migrant Rights Centre says  https://www.irishtimes.com/ireland/social-affairs/2023/02/28/call-for-national-lead-on-housing-for-refugees-has-fallen-on-deaf-ears-committee-told/

 

• Steady Irish housing market benefits Cairn: The Irish housebuilder operates in a very different environment from its British peers, and its results show  https://www.investorschronicle.co.uk/news/2023/03/03/steady-irish-housing-market-benefits-cairn/

 

• MACROPRUDENTIAL POLICY AND REAL ESTATE FUNDS  https://internationalbanker.com/finance/macroprudential-policy-and-real-estate-funds/

 

• Society of Chartered Surveyors Ireland to hold women’s day event on financial planning: Free lunchtime forum to take place in person and online with a number of guest speakers  https://www.irishtimes.com/property/residential/2023/03/02/society-of-chartered-surveyors-ireland-to-hold-womens-day-event-on-financial-planning/

 

• How to reinvent iconic Irish traditional furniture  https://www.rte.ie/brainstorm/2023/0302/1359809-sligo-tuam-chair-heritage-vernacular-traditional-furniture-ireland/

 

• Best of luck to all the finalists in this year’s National Property Awards on Thursday evening! https://www.nationalpropertyawards.ie/

 

 

 

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

*Protecting Construction’s Most Critical Asset*

 

On ‘Breaking Ground’ on iPropertyRadio.com this week, host Carol Tallon chats to Bill Hill, CEO of Lighthouse Club “The Construction Industry Charity”, to discuss the skills shortage in the construction industry and the importance of  improving the wellbeing of the current workforce, including implementing long-term plans to change the culture within construction.

Did you know that construction has the highest number of occupational cancer cases and that over 20% of recorded absence is due to stress, anxiety or depression? Our industry is male-dominated with little diversity and heavily skewed towards the over 40’s.

The most shocking fact is that every working day in the UK and Ireland, we are losing two construction workers to suicide. This is a heartbreaking statistic, and we need to take action to support our workers.

That’s where the Lighthouse charity comes in. Their vision is that “no construction worker or their family should be alone in a crisis.” They offer free 24/7 support services to any construction worker or their family in crisis. The charity receives no public funding and relies on the generosity of the industry to help them support our workforce.

Let’s work together to improve the construction industry and support our workers. Check out the Lighthouse charity to learn more about how you can help: https://www.lighthouseclub.org/

Watch back and listen back: https://ipropertyradio.com/breaking-ground/

*Ireland’s Rental Market Crisis*

 

On Property Matters on iPropertyRadio.com this week, host Carol Tallon chats to Mary Conway, Chair of the Irish Property Owners Association to discuss the surge in rental prices that is causing concern for the broader Irish economy and how Irish rental prices rose by a record 13.7% in Q4 2022 compared to the same period in the previous year, with some cities seeing increases of up to 20%. 

The shortage of available rental homes is a significant factor contributing to the problem, the fewer than 1,100 homes available for rent on February 1st, 2023, down 20% from the previous year and far below the average of 8,500 homes between 2006 and 2021. 

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

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

 

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

 

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

 

• Derelict houses of Ireland reimagined as Grand Designers unite under one online roof  https://extra.ie/2023/02/26/lifestyle/derelict-houses-of-ireland

 

• Fingal County Council gives green light for DAA to construct tunnel under Dublin Airport runway  https://www.breakingnews.ie/amp/ireland/fingal-county-council-gives-green-light-for-daa-to-construct-tunnel-under-dublin-airport-runway-1440516.html

 

• Stanley subsidiary Kitara in talks with Belmayne residents over defect repairs: Discussions focus on scale and cost of remediation works at troubled north Dublin apartment scheme  https://www.businesspost.ie/news/stanley-subsidiary-kitara-in-talks-with-belmayne-residents-over-defect-repairs/

 

• Bray makes Time Out’s most underrated travel destinations in the world list  https://www.joe.ie/travel/underrated-travel-destinations-769605

 

• Cork lost €273m for road works since 2008 downturn: Councillors react furiously when they learn that the county receives €1,000 less per kilometre than the national average  https://www.irishexaminer.com/news/munster/arid-41081315.html

 

• Tell me about… Making the move to work in West Cork  https://www.southernstar.ie/news/tell-me-about-making-the-move-to-work-in-west-cork-4258507

 

• Driving range plan turned down by Galway County Council  https://connachttribune.ie/driving-range-plan-turned-down-by-galway-county-council/amp/

 

• Galway vacant commercial properties have potential to create 47 new homes  https://connachttribune.ie/galway-vacant-commercial-properties-have-potential-to-create-47-new-homes/

 

• Galway rated ‘most charming city’ as famous Spanish travel writer praises atmosphere: A solid list of pubs to visit  https://www.galwaybeo.ie/news/galway-news/galway-rated-most-charming-city-8196093

 

• An Bord Pleanala clears way for new trails and carpark at Connemara National Park  https://galwaybayfm.ie/galway-bay-fm-news-desk/an-bord-pleanala-clears-way-for-new-trails-and-carpark-at-connemara-national-park/

 

• Galway people rally to save historic spot as storm threatens to destroy ancient site: The historic area has materials that date back over 8,000 years  https://www.galwaybeo.ie/news/galway-news/galway-people-rally-save-historic-8199213

 

• Guided walks to reclaim Galway City’s boreens and protect them from rezoning  https://connachttribune.ie/guided-walks-to-reclaim-galway-citys-boreens-and-protect-them-from-rezoning/

 

• Green Limerick: ‘Mid-West should be the envy of Europe’ https://www.limerickleader.ie/news/home/1052439/mid-west-should-be-the-envy-of-europe.html

 

• RESIDENTS in Kilmallock say they do not want to see the development of 30 semi-detached modular units in the County Limerick town to house Ukrainian refugees.  https://www.limerickpost.ie/2023/03/01/limerick-residents-reject-modular-homes-for-ukrainian-families/

 

• Bray residents appeal decision to replace 162-year-old building with arcade  https://m.independent.ie/regionals/wicklow/news/bray-residents-appeal-decision-to-replace-162-year-old-building-with-arcade-42364017.html

 

• Search is on to find owners of Mayo’s empty homes | Western People https://westernpeople.ie/2023/02/24/search-is-on-to-find-owners-of-mayos-empty-homes/

 

• Part eight planning for N61 Tulsk to Clashaganny road approved  https://www.shannonside.ie/news/part-eight-planning-for-n61-tulsk-to-clashaganny-road-approved-219847

 

• Courtown residents ‘devastated’ as construction of controversial mast goes ahead  https://m.independent.ie/regionals/wexford/news/courtown-residents-devastated-as-construction-of-controversial-mast-goes-ahead-42363887.html

 

• Construction set to commence on €31 million investment in Buncrana and Ballybofey/Stranorlar Sewerage Scheme  https://donegalnews.com/2023/03/construction-set-to-commence-on-e31-million-investment-in-buncrana-and-ballybofey-stranorlar-sewerage-scheme/

 

• Funding for footbridge connecting Northern Ireland and the Republic will expire before construction starts https://www.newcivilengineer.com/latest/funding-for-footbridge-connecting-northern-ireland-and-the-republic-will-expire-before-construction-starts-03-03-2023/

 

CONSTRUCTION & DEVELOPMENT NEWS

• Data centre giants warn minister over delays to back-up energy permits: Microsoft, Amazon and Google seek to expedite applications to EPA for industrial emissions licences needed to ease any future power emergencies https://www.businesspost.ie/news/data-centre-giants-warn-minister-over-delays-to-back-up-energy-permits/

 

• New Homes: All eyes watching demand-side initiatives, while supply side lags behind: The Central Bank admits that initiatives like their mortgage measures “have both benefits and costs to society”  https://www.irishexaminer.com/property/residential/arid-41082862.html

 

• New figures released by the Central Statistics Office (CSO) show the volume of production in the construction sector fell by 3.1 per cent in the fourth quarter of 2022 compared to previous quarter of the year.  https://www.breakingnews.ie/amp/ireland/cso-figures-show-volume-of-construction-fell-at-end-of-2022-1440274.html

 

• Woodie’s and Chadwicks owner predicts building materials inflation will ease from 15% to 7%: Building suppliers Chadwicks is the group’s most profitable business, with revenues boosted by inflation and acquisitions  https://www.irishexaminer.com/business/companies/arid-41083981.html

 

• Glenveagh and Cairn diverge on solutions for housing crisis: Construction giants both posted robust profits for last year, but Cairn plans to focus on apartments and Glenveagh is pushing for more high-density own-door developments https://www.businesspost.ie/news/glenveagh-and-cairn-diverge-on-solutions-for-housing-crisis/

 

• Multibillion-euro projects including Intel’s Leixlip plant and children’s hospital to be hit by strikes: 90 per cent of mechanical staff working for contracting companies Leo Lynch and Jones Engineering voted for strike action on March 10  https://www.businesspost.ie/news/multibillion-euro-projects-including-intels-leixlip-plant-and-childrens-hospital-to-be-hit-by-stri/

 

• Gender pay gap widest in finance and construction sectors  https://www.irishtimes.com/business/2023/02/28/gender-pay-gap-widest-in-finance-and-construction-sectors-report-finds/

 

• Breaking down the gender divide: women in the trades: The trades are no longer the all-male bastion they once were. Three women — a mechanic, electrical apprentice and drains expert — talk about their experience  https://www.irishexaminer.com/lifestyle/healthandwellbeing/arid-41084197.html

 

• Cabinet set to approve tens of millions of euro to fund refugee accommodation projects: Ministers will be asked to approve measures aimed at easing refugee accommodation crisis on Friday morning https://www.irishtimes.com/ireland/2023/03/02/cabinet-set-to-approve-tens-of-millions-of-euro-to-fund-refugee-accommodation-projects/

 

• Ireland must embrace low carbon timber building systems to reduce emissions from construction: We have to transition to a new low carbon-building model fast, for the sake of our future https://www.irishtimes.com/business/2023/02/27/ireland-must-embrace-low-carbon-timber-building-systems-to-reduce-emissions-from-construction/

 

• Ires Reit drops plans to build 400 apartments in Sandyford: The real estate company is to dispose of its Rockbrook development site  https://www.businesspost.ie/news/ires-reit-drops-plans-to-build-400-apartments-in-sandyford/

 

• Fingal council approves plan to redevelop Howth Castle for retail, food and tourism uses: Tetrarch Capital and the Wright hospitality group combine for €10m project  https://www.irishtimes.com/business/2023/02/28/fingal-council-approves-plan-to-redevelop-howth-castle-for-retail-food-and-tourism-uses/

 

• The Minister for Housing, Local Government and Heritage (DHLGH), Darragh O’Brien TD and the Mayor of South Dublin County, Councillor Emma Murphy have officially marked the commencement of works at the Clonburris Strategic Development Zone (SDZ).  https://irishbuildingmagazine.ie/2023/02/28/inister-obrien-turns-sod-on-clonburris-south-link-street/

 

• MKN applies to convert planned six office units to apartments: The development company said the change was requested due to lack of demand for office space in the East Wall location https://www.businesspost.ie/news/mkn-applies-to-convert-planned-six-office-units-to-apartments/

 

• Private members club appeals go-ahead for demolition of old Anglo HQ: Dublin City Council had granted permission for seven-storey office block  https://www.irishtimes.com/business/2023/02/24/private-members-club-appeals-go-ahead-for-demolition-of-old-anglo-hq/ And: Private members club seeks hearing into plan to demolish former Anglo-Irish Bank HQ https://www.breakingnews.ie/amp/ireland/private-members-club-seeks-hearing-into-plan-to-demolish-former-anglo-irish-bank-hq-1441913.html

 

• €15k cost of two publicly owned sites based on ‘independent valuations’: Wholesaler bought two sites in Celbridge from Kildare County Council in 2016 and after the sale J Carey Distributors Ltd’s ‘freehold property’ increased from zero to €1 million https://www.businesspost.ie/politics/e15k-cost-of-two-publicly-owned-sites-based-on-independent-valuations/

 

• School building projects ‘on hold’ due to funding pressures: Educate Together expresses ‘serious concern’ over delays constructing schools in south Dublin area  https://www.irishtimes.com/ireland/education/2023/03/02/school-building-projects-on-hold-due-to-funding-pressures/

 

•  Planning granted for major student accomodation development in Cork city despite 130 objections – There will be 205 units built and will go ahead despite some strong local objections  https://www.corkbeo.ie/news/local-news/planning-granted-major-student-accomodation-26347660

 

• Bord Pleanála to decide on 194-bed student building for Cork village: Ringaskiddy residents insist project is ‘wholly unacceptable’ for the area. https://www.irishexaminer.com/news/munster/arid-41085418.html

 

• Planning lodged for €14m secondary school for Coachford Community College  https://www.irishexaminer.com/news/munster/arid-41082215.html

 

• Pharma giant announces €45m expansion plan for Cork base: Gilead Sciences said its expansion would “significantly expand storage capacity” at its Carrigtwohill base  https://www.irishexaminer.com/business/companies/arid-41083672.html

 

• Major Galway housing complex decision due amid heavy opposition from locals: Safety and traffic concerns were amongst major issues raised  https://www.galwaybeo.ie/news/galway-news/major-galway-housing-complex-decision-8192441

 

• Planning application withdrawn for 151 homes in Galway City  https://www.galwaydaily.com/news/housing/planning-application-withdrawn-for-151-homes-in-galway-city/

 

• Developer welcomes An Bord Pleanala decision on Punches Cross site  https://www.live95fm.ie/news/live95-news/developer-welcomes-an-bord-pleanala-decision-on-punches-cross-site/

 

• Planning application expected shortly for new Portlaw hotel  https://www.wlrfm.com/news/planning-application-expected-shortly-for-new-portlaw-hotel-293807

 

• Madill Property Limited have applied for planning permission to construct 53 housing units at Rath Ullard, Bonnetsrath, Kilkenny. https://www.kilkennypeople.ie/news/kilkenny-city/1047700/breaking-large-new-housing-development-planned-for-kilkenny.html

 

• Permission granted to demolish former factory and construct houses in Kilkenny  https://www.kilkennypeople.ie/news/kilkenny-city/1047685/permission-granted-to-demolish-former-factory-and-construct-houses-in-kilkenny.html

 

• Second apartments plan is put forward for historic Naas town centre house  https://www.kildarenow.com/news/home/1050557/kildare-second-apartments-plan-is-put-forward-for-historic-naas-town-centre-house.html

 

• Builders urged to tap into huge pot of Government finance to build houses in Laois  https://www.leinsterexpress.ie/news/property/1050846/builders-urged-to-tap-into-huge-pot-of-government-finance-to-build-houses-in-laois.html

 

• Tesco and Kildare Village operator object to plan for 158-bedroom hotel on their doorsteps: Transport Infrastructure Ireland says hotel could impact safety of national road network, but Curragh Racecourse operator supports project  https://www.irishtimes.com/business/2023/02/27/tesco-and-kildare-village-operator-object-to-plan-for-a-158-bedroom-hotel-on-their-doorsteps/

 

• An investigation has been launched at the site of a housing development after a local authority received complaints that badger setts are being disturbed by construction works.  https://www.irishexaminer.com/news/arid-41083849.html

 

• Builder Tom Bailey claims ‘shakedown’ attempt over family trust: Main asset in trust is 250 acres of development land on the border of Kildare and Meath  https://www.irishtimes.com/business/2023/02/27/builder-tom-bailey-claims-shakedown-attempt-over-family-trust/

 

• Plans lodged for housing development in Carrick On Shannon  https://www.shannonside.ie/news/plans-lodged-for-housing-development-in-carrick-on-shannon-219899

 

• Cavan land owner wins High Court action over decision to allow nearby agri-business expand its facility  https://www.longfordleader.ie/news/local-news/1052468/cavan-land-owner-wins-high-court-action-over-decision-to-allow-nearby-agri-business-expand-its-facility.html

 

• Glenveagh Properties posts 50% increase in home sales  https://www.rte.ie/news/business/2023/0301/1359545-glenveagh-properties-2022-results/

 

• Cairn Homes reports ‘reassuring’ momentum in new home sales amid focus on apartments: Irish homebuilder saw revenue and profits increase in 2022 despite inflationary pressures  https://www.irishtimes.com/business/2023/03/02/cairn-revenue-profit-rises-despite-inflationary-pressures/ Also: Housebuilder Cairn Homes says surging interest rates will stop Irish house price rises – Operating profits at the company nearly doubled after a strong rise in sales  https://www.businesspost.ie/news/housebuilder-cairn-homes-says-surging-interest-rates-will-stop-irish-house-prices-rises/

 

• CRH has reported higher revenues and profits on the back of resilient demand. CRH said its revenues for the year rose by 12% to $32.7bn, while its profit after tax from continuing operations was 10% ahead of 2021 at $2.7bn https://www.rte.ie/news/business/2023/0302/1359767-crh-annual-results/ Also: It makes ‘perfect sense’ to list CRH in North America, says company’s chief – Relisting to US would provide enhanced growth opportunities for the building materials giant, chief executive said  https://www.businesspost.ie/news/it-makes-perfect-sense-to-list-crh-in-north-america-says-companys-chief/

 

• European Commission group joins Lioncor in House of Europe ‘topping out’: The 3,065 square metre European Parliament office building will house the Europa Experience visitor centre  https://www.businesspost.ie/property/european-commission-group-joins-lioncor-in-house-of-europe-topping-out/

 

• Specialist business lender Capitalflow, owned by Dutch digital bank Bunq, plans to double the amount lent to Irish customers to €2bn in the next three years. https://m.independent.ie/business/irish/lender-to-double-irish-loans-to-2bn-42369067.html

 

• Construction activity January 2023: Northern Ireland  https://www.constructionnews.co.uk/cn-intelligence/construction-activity-january-2023-northern-ireland-27-02-2023/

 

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

 

• EIIS and KEEP must be made more effective and accessible: Scale Ireland’s State of Start-ups Survey 2023 made it clear that the two schemes are vital but need to be reassessed https://www.businesspost.ie/analysis-opinion/eiis-and-keep-must-be-made-more-effective-and-accessible/

 

• ITV takes minority stake in architectural tech firm Resi: Company is led by Jules Coleman and Alex Depledge, who previously founded Hassle.com  https://www.businesspost.ie/tech/itv-takes-minority-stake-in-architectural-tech-firm-resi/

 

• ‘De-risking construction procurement: New UK-wide standard for modern methods of construction to be commissioned’ https://www.lexology.com/library/detail.aspx?g=3f6cfb7b-c7fc-4167-a967-6795b184d827

 

• Modern methods of construction (MMC), widely recognised as offsite construction, will be integral to the longevity of our buildings, the creation of a thriving and sustainable construction industry, and a resilient future for all https://aecom.com/without-limits/article/offsite-construction-unlocking-a-thriving-and-sustainable-construction-industry/

 

• New European Digital Innovation Hub/Data2Sustain established to drive digital transformation for businesses including Engineering and Construction, with a  particular focus on the circular economy and smarter/greener products, services and business models https://irishtechnews.ie/new-e5-4m-european-digital-innovation-hub-for-northern-and-western-region/

 

• Innovative business venture will futureproof construction industry in digital age: Co. Tyrone businesswomen Melanie Dawson and Sarah Weir launch this year’s Digital Construction Live Ltd https://www.newsletter.co.uk/business/innovative-business-venture-will-futureproof-construction-industry-in-digital-age-4042772

 

• Podcast: Is BIM Ruining the Architecture Industry?  https://www.archdaily.com/995576/the-second-studio-podcast-is-bim-ruining-the-architecture-industry

 

• Digital twins support CRE leasing, property management  http://connectedremag.com/uncategorized/digital-twins-support-cre-leasing-property-management/

 

• Scientists engineered a wood that gets stronger as it captures CO2: A carbon capture breakthrough.  https://interestingengineering.com/innovation/engineered-wood-captures-co2

 

• Proptech has reached an inflection point. So, like, what happens now?  https://www.inman.com/2023/03/01/proptech-has-reached-an-inflection-point-so-like-what-happens-now/amp/

 

• Fifth Wall raises $1.5b for proptech investment  https://aimgroup.com/2023/02/28/fifth-wall-raises-1-5b-for-proptech-investments/

 

• New PropTech Considerations for Sustainability & Environmental Impact Goals: Top considerations for eco-friendly smart home technology in a world where green is great https://www.multihousingnews.com/new-proptech-considerations-for-sustainability-environmental-impact-goals/  

 

• Proptech Startup NoBroker Secures $5 M From Google: With the latest funding, NoBroker, which is the first proptech unicorn in the country, has secured USD 366 million worth of funding so far.  http://bwdisrupt.businessworld.in/amp/article/Proptech-Startup-NoBroker-Secures-5-M-From-Google-/01-03-2023-467458

 

• BlocPower hits its stride, landing $25M Series B to expand its residential energy retrofit platform  https://techcrunch.com/2023/03/03/blocpower-hits-its-stride-landing-25m-series-b-to-expand-its-residential-energy-retrofit-platform/

 

ENERGY, CLIMATE & ENVIRONMENT

• Almost 10,000 Dublin council houses receive energy upgrade: Ten-year retrofitting programme a saving for tenants of more than €70m in bills, according to city council https://www.irishtimes.com/ireland/dublin/2023/02/27/almost-10000-dublin-council-houses-receive-energy-upgrade/

 

• Government to consider radical new strategies to reduce private car use: Memo from the Minister from Transport, which targets lower carbon emissions by introducing congestion charges and higher parking fees, among other measures, is likely to cause division among the coalition https://www.businesspost.ie/news/government-to-consider-radical-new-strategies-to-reduce-private-car-use/

 

• Fishers voice fears as off-shore wind projects advance  https://www.rte.ie/news/ireland/2023/0301/1359525-fishers/

 

• Concern turns to fear for investors over delays in Solar 21’s €250m repayment: Nearly 18 months after they were due to be repaid, Irish investors have not recouped their money – and financial experts have raised worries over substantial inter-company borrowing and lending https://www.businesspost.ie/news-focus/concern-turns-to-fear-for-investors-over-delays-in-solar-21s-e250m-repayment/

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Wider mix now of buyers includes housing bodies and local authorities: Housing and mortgage demand look to remain strong in the year ahead despite the challenging economic environment  https://www.irishexaminer.com/property/residential/arid-41082808.html

 

• Firms considered buying ‘entire housing estates’ for staff, committee will hear: Talent shortage driven by housing crisis the biggest threat to Ireland’s businesses, says Chambers Ireland  https://www.irishtimes.com/business/2023/03/01/big-firms-considered-buying-entire-housing-estates-for-irish-staff/

 

• New Homes: Homebuyers more incentivised than ever before – Never before in the history of the State have there been so many incentives for first-time buyers to purchase a new home  https://www.irishexaminer.com/property/residential/arid-41082811.html

 

• Will higher interest rates trigger a fall in Irish house prices? Prices set to continue rising because of supply shortages, but others disagree, says industry source  https://www.irishtimes.com/business/2023/02/28/will-higher-interest-rates-trigger-a-fall-in-irish-house-prices/

 

• Slight rise in number of mortgage approvals for first-time buyers https://m.independent.ie/business/personal-finance/property-mortgages/slight-rise-in-number-of-mortgage-approvals-for-first-time-buyers-42362191.html

 

• Over €1bn in mortgage approvals in January, figures show  https://www.breakingnews.ie/amp/ireland/over-e1bn-in-mortgage-approvals-in-january-figures-show-1439591.html

 

• Why it’s now easier for divorced homebuyers to get back on the ladder: Changes in Central Bank lending rules and State scheme eligibility have broadened the definition of first-time buyers  https://www.irishtimes.com/your-money/2023/02/28/why-its-now-easier-for-divorced-homebuyers-to-get-back-on-the-ladder/

 

• The curious case of the Irish banks and the non-rising mortgage interest rates: It is worth considering why the domestic banks have chosen not to increase rates at the same pace as some non-bank lenders https://www.businesspost.ie/analysis-opinion/john-walsh-the-curious-case-of-the-irish-banks-and-the-non-rising-mortgage-interest-rates/

 

• Banks sold thousands of trackers to vultures after admitting overcharging homeowners  https://m.independent.ie/business/personal-finance/property-mortgages/banks-sold-thousands-of-trackers-to-vultures-after-admitting-overcharging-homeowners-42369482.html

 

• Lenders raise concerns over mortgage-to-rent scheme turmoil: Housing Agency conducting review of provider in State scheme for distressed borrowers  https://www.irishtimes.com/business/2023/03/01/lenders-raise-concerns-over-mortgage-to-rent-scheme-turmoil/

 

• Rent control is not the answer to our dysfunctional market: John FitzGerald: Increasing the supply of rented accommodation, including social housing, is the better way to go  https://www.irishtimes.com/business/economy/2023/03/03/rent-control-is-not-the-answer-to-our-dysfunctional-market/

 

• Nine-out-of-10 Airbnb hosts would rather leave their units idle than rent it out to long-term tenants, survey finds https://m.independent.ie/business/irish/nine-out-of-10-airbnb-hosts-would-rather-leave-their-units-idle-than-rent-it-out-to-long-term-tenants-survey-finds-42368368.html

 

• Letting register could deprive families of income that helps them ‘make ends meet’, says Airbnb: Short-term letting giant to tell Oireachtas of problems posed by Government plan  https://m.independent.ie/irish-news/politics/letting-register-could-deprive-families-of-income-that-helps-them-make-ends-meet-says-airbnb-42364305.html

 

• Tenants of big landlord firm rack up €75,000 in arrears: Vestry fund evicted pair of renters who owed more than €18,000  https://m.independent.ie/irish-news/news/tenants-of-big-landlord-firm-rack-up-75000-in-arrears-42365908.html

 

• Institutional investors adopt cautious approach to buying Irish property: Continuing uncertainty due to interest rate rises means investors are reviewing their business plans, but some agents expect transactions to pick up  https://www.businesspost.ie/property/institutional-investors-adopt-cautious-approach-to-buying-irish-property/

 

• Outrage over €900 p/m Dublin apartment – available for just five days a week  https://extra.ie/2023/02/24/property/dublin-studio-five-days-a-week

 

• Home insurance costs rise as owners are urged to ensure properties are adequately covered: Underinsurance in the home insurance market had increased from 6.5% in 2017 to 16.5% last year https://www.irishtimes.com/your-money/2023/03/03/home-insurance-costs-rise-as-owners-urged-to-ensure-properties-are-adequately-covered/

 

• Why landlords are refusing to live with current renting rules: Small, or accidental, landlords are leaving the market in increasing numbers. Can the government persuade them to stay with tax incentives and improved terms, or has it left it too late?  https://www.businesspost.ie/news-focus/why-landlords-are-refusing-to-live-with-current-renting-rules/

 

• Nike heir Travis Knight seals deal on €4.5m pad in Kinsale: Irish-born wife was a factor in the decision to buy a part-time home in Ireland  https://www.irishexaminer.com/property/residential/arid-41080211.html

 

• Dublin homes for sale: Cheapest apartments and houses on the market in every postcode: We scoured the internet for some of the cheapest accommodation in every Dublin area and found some going for as low as €145,000  https://www.dublinlive.ie/news/property/dublin-homes-sale-cheapest-apartments-26339367

 

• Glenageary home sold for €6.5m as prime property market moves up a gear: Off-market sale of Marlborough Road redbrick is most valuable residential deal so far in 2023  https://www.irishtimes.com/property/residential/2023/03/02/glenageary-home-sold-for-65m-as-prime-property-market-moves-up-a-gear/

 

• Starter Homes: Four Cork properties for €275,000 or less – Homes for first-time buyers to consider from Turners Cross, Carrigtwohill, Midleton and Innishannon.  https://www.irishexaminer.com/property/residential/arid-41080982.html

 

• Bargain-hunting property show Cheap Irish Homes has put out a call for people to take part. https://www.yaycork.ie/house-hunting-on-a-budget-cheap-irish-homes-is-seeking-cork-participants/

 

• Inside Norman Irish castle with historic ‘murder hole’ feature hits market at interesting price: A sweet deal on some real history  https://www.galwaybeo.ie/news/property/inside-norman-irish-castle-even-8195521.amp

 

• Landlords being demonised says local auctioneer as he opposes extension of evictions ban  https://www.oceanfm.ie/2023/02/27/landlords-being-demonised-says-local-auctioneer-as-he-opposes-extension-of-evictions-ban/

 

• Over 100 derelict houses found in just TWO Laois towns  https://www.leinsterexpress.ie/news/property/1050818/over-100-derelict-houses-found-in-two-laois-towns.html

 

• Spacious Galway, Cork and Meath houses for sale for under €300k and two eye-catching Dublin homes: Grainne Rothery’s pick of the properties available to buy in Ireland this week  https://www.thetimes.co.uk/article/spacious-galway-cork-and-meath-houses-for-sale-for-under-300k-and-two-eye-catching-dublin-homes-stj0t2ctv

 

• Dutch-style townhouses with carports in Terenure from €945k: Mountain View Mews is close to both Terenure village and Harold’s Cross and the tall, narrow design comes with three bedrooms plus study https://www.businesspost.ie/property/dutch-style-townhouses-with-carports-in-terenure-from-e945k/

 

• RTÉ’s Home of the Year: Inside renovated Edwardian house : ‘Tour de force’ Belfast residence is third through to final: Take a look and see the two other family homes with the wow factor  https://www.irishexaminer.com/property/homeandgardens/arid-41082463.html

 

• House hunt: The questions to ask when viewing a property – Checking out that potential dream home? Here’s how to prepare for the viewing and what to ask the agents and vendors  https://www.irishexaminer.com/property/homeandgardens/arid-41077364.html

 

• Making sure you get the foundations of your home build right  https://www.irishexaminer.com/property/residential/arid-41079116.html

 

• Interior design mistakes that make a home feel smaller – and 8 simple rules that designers say will increase the sense of space. Our favorite interiors people share their solutions for increasing space in a small room – and the mistakes to avoid  https://www.homesandgardens.com/interior-design/interior-mistakes-that-make-a-home-feel-smaller

 

• Dermot Bannon’s Design Dreams  https://vipmagazine.ie/dermot-bannon-design-dreams/

 

• How to breathe new life into your home office space- Sort It: If you’re tired of your set-up, it’s time to invest in a change to give you the lift you need to feel inspired  https://www.irishtimes.com/property/interiors/2023/03/03/how-to-breathe-new-life-into-your-home-office-space/

 

 

• We completely renovated our Kildare home inside and out and did most of it ourselves: Vivian Wong McKendry takes a hands-on approach to interiors, which even inspired her own homeware line. Her Co Kildare home has her signature all over it  https://www.thetimes.co.uk/article/we-completely-renovated-our-kildare-home-inside-and-out-and-did-most-of-it-ourselves-sd20kdg7p

 

 

 

COMMERCIAL PROPERTY NEWS

• Commercial property vacancies in Ireland hits ten-year high: At the end of last year there were almost 30,000 empty commercial units across the country  https://www.businesspost.ie/news/commercial-property-vacancies-in-ireland-hits-ten-year-high/

 

• PayPal shutting down Dundalk office and cutting 62 jobs around Ireland: PayPal is cutting 62 jobs across Ireland. https://www.newstalk.com/news/paypal-shutting-down-dundalk-office-and-cutting-62-jobs-around-ireland-1442528

 

• Tourism bouncing back in Dublin but hotels struggling to find rooms for them: Visitor numbers are bouncing back in the capital but hotels are struggling to find rooms for them  https://www.thetimes.co.uk/article/tourism-bouncing-back-in-dublin-but-hotels-struggling-to-find-rooms-for-them-9psrsfsh3

 

• Clayton hotel owner reports record revenues as room rates rise, promises interim dividend  https://m.independent.ie/business/irish/clayton-hotel-owner-reports-record-revenues-as-room-rates-rise-promises-interim-dividend-42362491.html Also: Dalata says its hotel valuations have now recovered to pre-Covid levels: Ireland’s largest hotel operator plots further expansion in UK and Europe https://m.independent.ie/business/irish/dalata-says-its-hotel-valuations-have-now-recovered-to-pre-covid-levels-42369110.html

 

• Nine new hotels across IHG UK & Ireland brand portfolio  https://www.hospitalityandcateringnews.com/2023/03/nine-new-hotels-across-ihg-uk-ireland-brand-portfolio/

 

• Dublin 4 pub beloved by rugby greats and fans alike guiding at €2.5m: Mulligans of Sandymount occupies prime location within Sandymount village and is short walk from Aviva Stadium  https://www.irishtimes.com/property/commercial-property/2023/03/01/dublin-4-pub-beloved-by-rugby-greats-and-fans-alike-guiding-at-25m/

 

• Sean Quinn’s former Dublin pub sold for €3.75m: Landmark Charlemont Street premises acquired from lBRC liquidators by Donegal-born publican  https://www.irishtimes.com/property/commercial-property/2023/03/01/sean-quinns-former-dublin-pub-sold-for-375m/

 

• Nike to open new store in Dundrum Town Centre this summer: New 5,666sq ft store will occupy the former BT2 space on Level 1 of the facility  https://www.irishtimes.com/business/2023/02/27/nike-to-open-new-store-in-dundrum-town-centre-this-summer/

 

• Opportunity to acquire well-established Dublin 4 licensed premises: BDM Property is seeking offers in excess of €2.5 million for Mulligans of Sandymount https://www.businesspost.ie/property/opportunity-to-acquire-well-established-dublin-4-licensed-premises/

 

• Doughnut economics: Krispy Kreme chain rolls out as Porter’s newsagents wraps up: New sweet spot for Cork City centre  https://www.irishexaminer.com/property/commercial/arid-41083330.html

 

• First peek at Cork city’s new €29 million hotel as scaffolding comes down: The new hotel is hoping to open by the start of the summer season  https://www.corkbeo.ie/news/property/first-peek-cork-citys-new-26391050

 

• French investor acquires Galway retail park units for €4.965m: Iroko Zen completes its fifth purchase to date in Irish investment market  https://www.irishtimes.com/property/commercial-property/2023/03/01/french-investor-acquires-galway-retail-park-units-for-4965m/

 

• Tuam has highest commercial vacancy rate in the county  https://connachttribune.ie/tuam-has-highest-commercial-vacancy-rate-in-the-county/

 

• Owners of Ferrybank Shopping Centre confirmed  https://www.wlrfm.com/news/owners-of-ferrybank-shopping-centre-confirmed-294205

 

• Rooms (24!) to Improve? Sisters, 20s,  take on  derelict hotel renovation project in West Cork: Sisters, 20s, are doing it for themselves at €450k hotel buy which has lain idle since before they were born. The Budget? €400,000 left to spend on phase one https://www.irishexaminer.com/property/commercial/arid-41083288.html

 

• Planning lodged for works at well known Athlone hotel  https://www.shannonside.ie/news/planning-lodged-for-works-at-well-known-athlone-hotel-219880

 

• The Arch Inn Of Co. Donegal Hits The Market  https://www.hospitalityireland.com/amp/pub-bar-nightclub/the-arch-inn-of-co-donegal-hits-the-market-196739

 

• New report finds one in five commercial properties in Listowel vacant https://www.radiokerry.ie/news/new-report-finds-one-in-five-commercial-properties-in-listowel-vacant-320210

 

• Castle Murray House goes up for sale: The Dunkineely property – chosen by Hollywood actor Paul Ruud for his stag party in 2014 – is in an idyllic setting overlooking McSwyne’s Bay near St John’s Point  https://www.donegallive.ie/news/property/1046654/castle-murray-house-goes-up-for-sale.html

 

• Irish operator to invest £2 million in new London hotel acquisition  https://tophotel.news/irish-operator-to-invest-2-million-in-new-london-hotel-acquisition/

 

INTERNATIONAL PROPERTY NEWS

 

• Britain’s most expensive home: Saudi-owned London mansion goes on sale for £250m  https://www.lbc.co.uk/news/britain-most-expensive-home-saudi-owned-london-mansion-on-sale/

 

• England’s new housing supply likely to fall to lowest level in decades, study says: Home Builders Federation warns planning policy changes will result in government meeting less than half its annual target https://www.theguardian.com/society/2023/feb/26/england-new-housing-housebuilding-planning-policy

 

• The Competition & Markets Authority (CMA) has launched an investigation into the UK house-building sector, excluding Northern Ireland https://www.theconstructionindex.co.uk/news/view/house-builders-under-scrutiny-as-cma-probes?amp=1

 

• Trouble on the horizon: The post-Brexit law cull threatening onsite safety. The Work at Height Regulations save lives and are hugely popular in the construction sector. But will moves to ‘sunset’ all EU laws dilute – or even destroy – them? Behind the innocuous-sounding ‘Retained EU Law (Revocation and Reform) Bill’… https://www.constructionnews.co.uk/health-and-safety/trouble-on-the-horizon-the-safety-threat-posed-by-post-brexit-regulations-bonfire-03-03-2023/

 

• “At the end of the day, we are both people, and the landlord has a side, and the tenants have a side. I firmly believe landlords are good for the country. If you don’t like them, then become one.”  https://www.buzzfeed.com/meganeliscomb/landlord-raising-rent-tiktoks

 

• Hybrid working expected to push US office vacancies to record by 2030 – Cushman & Wakefield forecasts 1.1bn square feet of empty space in fundamental shift  https://www.irishtimes.com/property/commercial-property/2023/03/01/hybrid-working-expected-to-push-us-office-vacancies-to-record-by-2030/

 

• Why UK offices aren’t following the US route: Trends usually drift across the Atlantic but this time it might be different  https://reactnews.com/article/why-uk-offices-arent-following-the-us-route/

 

•  ‘It Takes A Decade’: How A $124B Real Estate Giant Rebuilt Itself  https://www.bisnow.com/london/news/capital-markets/it-takes-a-decade-how-an-85b-real-estate-giant-rebuilt-itself-117827

 

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/