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

 

 

Before we get stuck into the general property news of the week, below are the local and international stories that might be of particular interest: 

 

 

• Government fund for small builders, Home Building Finance Ireland (HBFI), now helping finance INSTITUTIONAL [incorrect terminology removed] schemes https://m.independent.ie/business/personal-finance/property-mortgages/governmentfund-for-small-builders-now-helpingfinance-cuckoo-schemes-40411383.html Also: Minister Donohoe publishes Home Building Finance Ireland review https://www.gov.ie/en/press-release/4a378-minister-donohoe-publishes-home-building-finance-ireland-review/

 

• More on this in the Business Post today: State invested in INSTITUTIONAL fund that snapped  up Maynooth homes: “it emerged Home Building Finance Ireland, a state agency set up to make cheap loans available to developers, has spent tens of millions of euro on financing developments being constructed for funds” https://www.businesspost.ie/houses/state-invested-in-cuckoo-fund-that-snapped-up-hundreds-of-maynooth-homes-b11f56ca?auth=login

 

• Brian Keegan: Taxing investment funds won’t solve the housing crisis | “Beware of name-calling. Pension funds, clearly, are good; so-called cuckoo and vulture funds, clearly, are bad. However, pension funds, vulture funds and cuckoo funds are all versions of the same thing.” https://www.businesspost.ie/houses/brian-keegan-taxing-investment-funds-wont-solve-the-housing-crisis-beab6671

 

• Home truths about funds buying up houses: We may be deeply frustrated that multibillion-euro investors are now competing with individual buyers for houses, but it was the state that invited these funds into Ireland — and it may be tricky to curtail them now  https://www.businesspost.ie/houses/home-truths-about-funds-buying-up-houses-087d1447

 

• Foreign investors account for 78% of property funding https://amp.rte.ie/amp/1220957/

 

• Cowen moves to limit planning board deliberations to 12 weeks: Former minister introduces Bill to restrict An Bord Pleanála on appeals and applications https://www.irishtimes.com/news/politics/oireachtas/cowen-moves-to-limit-planning-board-deliberations-to-12-weeks-1.4564607?mode=amp

 

• About 20% of the 20,000 housing units in the year leading up to the Covid pandemic were built by tapping  ‘institutional’ investors and international funds will continue to play a role in building houses for rent and in providing financing for housing https://www.irishexaminer.com/business/economy/arid-40286948.html?type=amp

 

• Tax take from institutional property investors rose by 171% in 2020: Move by Revenue saw effective tax rate levied increase from 2.7% in 2019 to 17.9% in 2020 https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/tax-take-from-institutional-property-investors-rose-by-171-in-2020-1.4561988?mode=amp

 

• Foreign direct investment in Ireland passes €1 trillion https://amp.rte.ie/amp/1221593/

 

• Housing crisis: Sharp hike in stamp duty considered to deter bulk-buying of homes by investors: Local authorities may be blocked from agreeing long-term leases with investment funds https://www.irishtimes.com/news/ireland/irish-news/housing-crisis-sharp-hike-in-stamp-duty-considered-to-deter-bulk-buying-of-homes-by-investors-1.4562439?mode=amp

 

• Reits are not the enemy and emotion is not a policy: If we turn our back on them we better be ready for the implications of adding €20bn to our national debt https://www.irishtimes.com/opinion/reits-are-not-the-enemy-and-emotion-is-not-a-policy-1.4563313?mode=amp

 

• Govt urged to double social housing units by 2030: The number of social housing units in Ireland needs to double by 2030, according to think-tank Social Justice Ireland. https://amp.rte.ie/amp/1217898/

 

• Revealed: First-time buyers to get half of new-build houses https://m.independent.ie/business/personal-finance/property-mortgages/revealed-first-time-buyers-to-get-half-of-new-build-houses-40430770.html

 

• Weak reaction on housing crisis raises stakes: Our political class does not have a real understanding of what, and how much is in play https://www.irishexaminer.com/opinion/ourview/arid-40285343.html?type=amp

 

• Review of State-backed home-building scheme elicits criticism – Cantillon: Market delivering high-cost rental solutions while home ownership plummets https://www.irishtimes.com/business/economy/review-of-state-backed-home-building-scheme-elicits-criticism-1.4560839?mode=amp

 

• IMF says Ireland not doing enough to address housing crisis: Ireland must also broaden its tax base, the fund warned https://www.irishexaminer.com/business/economy/arid-40287893.html?type=amp

 

• Longford estate agent in court over alleged €3k PUP fraud https://www.longfordleader.ie/news/home/632073/longford-estate-agent-in-court-over-alleged-3k-pup-fraud.html

 

• Keelings pushed council for lower-grade housing for its migrant workers https://extra.ie/2021/05/16/news/irish-news/keelings-council-migrant-workers/amp

 

• The other side of the housing crisis: rising wealth for many- Smart Money with Cliff Taylor: Less well-off people have struggled to get into the market for years https://www.irishtimes.com/business/economy/the-other-side-of-the-housing-crisis-rising-wealth-for-many-1.4564141?mode=amp

 

• It’s difficult to see this as positive: ‘Court ruling could help up to 20,000 people in Celtic Tiger-era debt: Court permits 54-year-old woman to keep paying mortgage until she is 90’  – At which time the full capital amount becomes due https://www.irishtimes.com/business/court-ruling-could-help-up-to-20-000-people-in-celtic-tiger-era-debt-1.4564577?mode=amp

 

• Impact of Air Quality on Property Transactions https://www.sonitussystems.com/news/impact-of-air-quality-on-property-transactions

 

• An Irish-American writer hopes to tell the story of the Irish immigrants who built the Empire State Building against the backdrop of the Great Depression in a compelling new TV series  https://www.irishcentral.com/roots/history/series-irish-immigrants-built-empire-state-building.amp

 

 

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

 

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

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

Ireland’s first weekly property radio show, Property Matters, launched In January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com). The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech.

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

Email the Property Matters team at info@propertydistrict.ie 

 

Also:

• RTÉ Radio Player: Housing supply and bulk-buying by investors, with Pat Farrell, CEO of Irish Institutional Property  https://www.rte.ie/radio/radioplayer/html5/#/radio1/21954160

 

 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

• State planning board spent €8.2m on legal challenges to strategic housing in 2020 https://www.irishexaminer.com/news/arid-40288406.html

 

• Ireland wants pandemic-era remote working to revive its rural towns https://www.cnbc.com/amp/2021/05/14/ireland-wants-remote-working-to-now-revive-its-rural-towns.html

 

• Wi-fi made our rural dreams come true: City living used to be part of the job — until remote working opened up new horizons. Arlene Harris meets young professionals who have taken the plunge and embraced a new life in the country https://www.thetimes.co.uk/article/wi-fi-made-our-rural-dreams-come-true-6h29jk2sd

 

• 32 great outdoor swimming spots around Ireland – one in every county https://www.irishtimes.com/life-and-style/health-family/fitness/32-great-outdoor-swimming-spots-around-ireland-one-in-every-county-1.4543620?mode=amp

 

• Ireland should focus on compact growth in future residential developments: Options to upcycle and repurpose existing buildings bring major environmental gains https://www.irishtimes.com/business/construction/ireland-should-focus-on-compact-growth-in-future-residential-developments-1.4558249?mode=amp

 

• Are people actually leaving Dublin now that they can work remotely? Estate agents are reporting an increased interest from Dublin dwellers looking to move out of the capital. https://www.thejournal.ie/moving-out-of-dublin-5427789-May2021/

 

• Award-winning Dublin museum to tell story of city’s north side streets: 14 Henrietta Street was recognised at the European Museum of the Year awards. https://www.thejournal.ie/14-henrietta-street-5432739-May2021/?amp=1

 

• Dublin City Council ask Minister for Sport to intervene in sale of YMCA grounds: Sandymount ground put on the market for €10m by charity owners https://www.irishtimes.com/sport/other-sports/dublin-city-council-ask-minister-for-sport-to-intervene-in-sale-of-ymca-grounds-1.4560793?mode=amp

 

• Dart expansion ‘shoots past areas most in need’ https://www.thetimes.co.uk/article/dart-expansion-shoots-past-areas-most-in-need-k3b7dlbq9

 

• Charlie Chawke: ‘I want to hold onto everything’: THE LIMERICK MAN’S APPLICATION TO DEVELOP A FIVE-ACRE SITE BESIDE HIS GOAT PUB HAS SPARKED MUCH CONTROVERSY. BUT HE INSISTS HE IS BUILDING IT “FOR THE LOCALS” https://www.irishtimes.com/business/charlie-chawke-i-want-to-hold-onto-everything-1.4564227?mode=amp

 

• Identifying Sites for Dun Laoghaire Harbour’s Watersports, Culture & Heritage Future https://afloat.ie/port-news/dun-laoghaire-news/item/50253-identifying-sites-for-dun-laoghaire-harbour-s-watersports-culture-heritage-future

 

• Mapping out the vision for Cork county over the next seven years https://www.irishexaminer.com/news/spotlight/arid-40285082.html

 

• Gate to Tramore Valley Park to open this summer as school donates land https://www.corkbeo.ie/news/local-news/gate-tramore-valley-park-open-20581656

 

• Why buyers are leaving the cities in the pandemic for Skibbereen https://www.irishexaminer.com/property/residential/arid-40282289.html?type=amp

 

• ‘Zoom town’ revolution – Waterford bids to attract remote workers to sunny south-east https://m.independent.ie/business/irish/zoom-town-revolution-waterford-bids-to-attract-remote-workers-to-sunny-south-east-40406170.html

 

• State still committed to funding for Waterford’s North Quays https://www.irishexaminer.com/news/munster/arid-40289609.html?type=amp

 

• US tech firm begins construction of new European headquarters in Limerick town https://www.limerickleader.ie/news/news/632991/us-tech-firm-begins-construction-of-new-european-headquarters-in-limerick-town.html

 

• Historic ‘Famine-era’ slipway discovered in Athlone | Westmeath Independent https://www.westmeathindependent.ie/2021/05/12/historic-famine-era-slipway-discovered-in-athlone/

 

• Judge to rule later on Thomas Reid challenge to Intel expansion: An Bord Pleanála has rejected all grounds of the objection to its permission for the project https://www.irishtimes.com/business/financial-services/judge-to-rule-later-on-thomas-reid-challenge-to-intel-expansion-1.4564490?mode=amp

 

• New business scheme for Tipperary town centres: Urban renewal https://www.tipperarylive.ie/news/news/632583/new-business-scheme-for-tipperary-town-centres.html

 

• Catherine FitzGerald and Dominic West: “It is lovely to work together on something Dominic and I both care about”: FitzGerald on breathing new life into Glin Castle https://m.independent.ie/life/travel/ireland/it-is-lovely-to-work-together-on-something-dominic-and-i-both-care-about-catherine-fitzgerald-on-breathing-new-life-into-glin-castle-40425110.html

 

 

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

 

 

CONSTRUCTION & DEVELOPMENT NEWS

• High costs ‘may demolish housing plans’ all over Ireland: Rick Larkin, a Dublin developer, says the cost of building homes has soared due to an increase in regulations https://www.thetimes.co.uk/article/high-costs-may-demolish-housing-plans-all-over-ireland-pdl5rz03r

 

• The Minister for Business, Employment and Retail, Damien English TD, has today appointed an additional 17 members to the Ministerial Panel of Adjudicators under the Construction Contracts Act, 2013. https://www.gov.ie/en/press-release/73609-minister-damien-english-announces-appointment-of-new-ministerial-panel-of-adjudicators/

 

• Resolving Construction disputes – What are the options and why is it important? https://www.irishbuildingmagazine.ie/2021/05/13/resolving-construction-disputes-what-are-the-options-and-why-is-it-important/

 

• Chairman of  #Construction Sector Innovation and Digital Adoption, within the Department of Public Expenditure and Reform, PJ Rudden tells Irish building magazine that a matter of great concern to him is the skills gap within construction https://www.irishbuildingmagazine.ie/2021/05/14/closing-the-construction-skills-gap/

 

• McGrath: spending all of €10.8bn capital budget will be ‘challenging’: The Minister for Public Expenditure says the issue has been caused in part by the impact of the three-month construction shutdown https://www.businesspost.ie/ireland/mcgrath-spending-all-of-eur108bn-capital-budget-will-be-challenging-3434939e

 

• Business Post: Construction Information Services round-up: With the easing of lockdown, developers are gearing up to take a bite out of the tight housing market https://www.businesspost.ie/commercial/construction-information-services-round-up-31397931

 

• Proposed build-to-let ‘a complete monstrosity in Dún Laoghaire’: Councillors vote to consider judicial review of Bord Pleanála’s local high-rise decisions https://www.irishtimes.com/news/ireland/irish-news/proposed-build-to-let-a-complete-monstrosity-in-d%C3%BAn-laoghaire-1.4560948?mode=amp

 

• Bartra to lodge plans for €400m O’Devaney Gardens scheme: Development consists of 1,047 residential units across 10 blocks up to 14 storeys tall https://www.irishtimes.com/business/construction/bartra-to-lodge-plans-for-400m-o-devaney-gardens-scheme-1.4565542?mode=amp

 

• Permission for 336 apartments in Dublin’s docklands overturned: An Bord Pleanála found not to have adequately addressed concerns raised https://www.irishtimes.com/news/crime-and-law/courts/high-court/permission-for-336-apartments-in-dublin-s-docklands-overturned-1.4565253?mode=amp

 

• Dublin city centre residential site ready to go at €1.1m guide: Number 14 Usher’s Island has full planning permission for delivery of 10 apartments https://www.irishtimes.com/business/commercial-property/dublin-city-centre-residential-site-ready-to-go-at-1-1m-guide-1.4560632?mode=amp

 

• Chelsea meets Clanbrassil Street: ‘New urban mews’ proposal for Portobello: Mixed reaction to central Dublin mixed-use development just inside the Grand Canal https://www.irishtimes.com/life-and-style/homes-and-property/chelsea-meets-clanbrassil-street-new-urban-mews-proposal-for-portobello-1.4562937?mode=amp

 

• Citywest housing delayed by site ownership dispute, court told: Two companies claim ownership of three-acre site beside Citywest Hotel https://www.irishtimes.com/business/construction/citywest-housing-delayed-by-site-ownership-dispute-court-told-1.4562121?mode=amp

 

• Davy Hickey investors sue amid row over Citywest developer’s future: Directors of firm accused of ‘oppression and disregard’ of minority shareholders’ rights https://www.irishtimes.com/business/commercial-property/davy-hickey-investors-sue-amid-row-over-citywest-developer-s-future-1.4565563?mode=amp

 

• Cork housing proposals: A further 440 residential units planned for Cork https://www.echolive.ie/corknews/arid-40289024.html

 

• Plan to knock city Dunnes and build new supermarket with cafe and outdoor seats https://www.corkbeo.ie/news/local-news/plan-knock-city-dunnes-stores-20572569

 

• Model Farm Road setting and property mix to drive interest in €1.8m suburban Cork market offer: Rental income and development scope at Cork’s Bishopstown House https://www.irishexaminer.com/property/commercial/arid-40287911.html

 

• Construction work begins on site of new Macroom fire station https://www.echolive.ie/corknews/arid-40286495.html

 

• Submissions sought for suitable sites for proposed elective hospital in Galway https://galwaybayfm.ie/galway-bay-fm-news-desk/submissions-sought-for-suitable-sites-for-proposed-elective-hospital-in-galway/

 

• High spec Limerick apartments  sell for €11.25m https://www.limerickleader.ie/news/home/632729/high-spec-limerick-apartments-sell-for-11-25m.html

 

• Plans for affordable homes mooted for Limerick site https://www.limerickleader.ie/news/home/632180/plans-for-affordable-homes-mooted-for-limerick-site.html

 

• Doubt cast over developer’s ability to fund Waterford Quays regeneration https://www-irishexaminer-com.cdn.ampproject.org/c/s/www.irishexaminer.com/news/munster/arid-40288589.html?type=amp

 

• Judge considering visit to site of proposed Intel expansion https://www.irishtimes.com/business/technology/judge-considering-visit-to-site-of-proposed-intel-expansion-1.4563233?mode=amp

 

• 165 new homes proposed in Enniskerry https://m.independent.ie/regionals/braypeople/news/165-new-homes-proposed-in-enniskerry-40414740.html

 

• Plans revealed for landmark Mayo hotel project | Galway-based company, trading as Primbrook Investments Limited, has unveiled its proposals for a landmark site opposite the busy Mulroy’s roundabout at Moneenbradagh in Castlebar. https://www.con-telegraph.ie/2021/05/15/plans-revealed-for-landmark-mayo-hotel-project-2/

 

• Plans to build 75 new homes in well documented Longford estate https://www.longfordleader.ie/news/news/631529/plans-to-build-75-new-homes-in-well-documented-longford-estate.html

 

• Permission Granted For New Shopping Centre In Offaly https://www.midlands103.com/news/midlands-news/permission-granted-for-new-major-shopping-centre-in-offaly/

 

• Plans for 75 housing units in South Tipperary lodged with Tipperary County Council – Tipp FM https://tippfm.com/featured-2/plans-75-housing-units-south-tipperary-lodged-tipperary-county-council/

 

• Data Centres:Host in Ireland Launches Spring 2021 Biannual Report | IrishRealEstate.news https://www.irishrealestate.news/data-centreshost-in-ireland-launches-spring-2021-biannual-report/

 

• Plans to rezone flood-prone lands at Naas spark concern: Planning watchdog calls on Kildare council to re-evaluate findings for proposed rezoning https://www.irishtimes.com/news/environment/plans-to-rezone-flood-prone-lands-at-naas-spark-concern-1.4559954?mode=amp

 

• Fine Gael TDs and Senators criticise An Taisce’s cheese plant appeal: High Court last month upheld planning decision for Glanbia joint venture in Kilkenny https://www.irishtimes.com/business/agribusiness-and-food/fine-gael-tds-and-senators-criticise-an-taisce-s-cheese-plant-appeal-1.4559713?mode=amp 

 

• Mercury renews carbon-reduction pledge alongside 60 of Ireland’s largest companies https://constructionnews.ie/mercury-carbon-pledge/

 

• Cork firm on track for success in spite of Arctic chill: Mainline juggles Scandinavian construction projects with contracts closer to home https://www.irishexaminer.com/business/companies/arid-40289276.html?type=amp

 

• SIG launches new specialist construction products online store https://www.irishbuildingmagazine.ie/2021/05/11/sig-launches-new-specialist-construction-products-online-store/

 

• Boy impaled on railing spike settles High Court action for €90,000 https://m.independent.ie/irish-news/news/boy-impaled-on-railing-spike-settles-high-court-action-for-90000-40416736.html

 

• Man dies in workplace accident in city:  The man, aged in his 30’s, was fatally injured while working on construction site in the area https://connachttribune.ie/man-dies-in-workplace-accident-in-city/amp/

 

 

PROPTECH, MMC & CONSTRUCTION INNOVATION

 

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

 

• Welcome to the home of the future — complete with robots: Homes will be super high-tech within 20 years, say experts who predict home-help drones and mood-changing facades https://www.irishexaminer.com/property/homeandoutdoors/arid-40286870.html

 

• Google teams up with Dublin City Council on air pollution project: Specially equipped Street View car will drive the streets of Dublin to monitor air quality https://www.irishtimes.com/business/technology/google-teams-up-with-dublin-city-council-on-air-pollution-project-1.4560348?mode=amp

 

• Shannon-based engineering firm Mincon eyes wind farms for additional revenue stream https://www.irishexaminer.com/business/companies/arid-40285931.html?type=amp

 

• ArcDox: What level of “Quality” of information, should construction clients expect from their delivery teams? And what is the “impact” of quality of information on outcomes? https://lnkd.in/d4myBgf

 

• Why You Think Your Construction Company Is Data-Driven (And Why You Might Not Actually Be): 8 Key Qualities of Data-Driven Construction Companies https://blog.plangrid.com/2019/07/data-driven-design-and-construction/

 

• Millions of bricks to be made from waste: Commercial production is set to start of eco-friendly bricks made from construction and demolition waste. https://www.theconstructionindex.co.uk/news/view/millions-of-bricks-to-be-made-from-waste

 

• Building’s hard problem – making concrete green https://www.bbc.com/news/business-56716859

 

• How Concrete Formwork Filament Can Push the Limits of Architecture – 3Dnatives https://www.3dnatives.com/en/bigrep-and-forward-am-concrete-formwork-110520216/

 

• BigRep and Forward AM launch new Concrete Formwork for construction 3D printing https://3dprintingindustry.com/news/bigrep-and-forward-am-launch-new-concrete-formwork-for-construction-3d-printing-189957/

 

• The Rat Race – on the final straight? PropTech is the technology that enables the Hub & Spoke Model; Flex Space; and Desks for Hire. It facilitates the better use and management of property. https://www.lexology.com/library/detail.aspx?g=0899880a-0088-4ed8-ad03-ca3a9baa6df2

 

• The Power of Proptech 2021: As much of the property sector’s workforce continues to sit at home trying to virtually recreate their work environment, the importance of technology and proptech has been brought into sharp focus. https://www.propertyweek.com/data/the-power-of-proptech-2021-get-your-views-heard/5114188.article

 

• PropTech revolution: how will the sector look in 2025… https://www.estateagenttoday.co.uk/features/2021/5/proptech-revolution-how-will-the-sector-look-in-2025

 

• PropTech Today – how agents can choose the right PropTech solutions https://www.estateagenttoday.co.uk/breaking-news/2021/5/proptech-today–how-to-choose-the-right-proptech?source=newsticker

 

• Estate agents warned to beware of alarming rate of cyberattacks https://propertyindustryeye.com/estate-agents-warned-to-beware-of-alarming-rate-of-cyberattacks/

 

• Proptech Deposit alternative Fronted raises another £1 million: Launched in December 2019, the platform has high profile founders and pays a tenant’s deposit direct to their letting agent – tenants then pay it back in instalments. https://thenegotiator.co.uk/fronted-million-pounds-funding-deposit/

 

• Matter is the new name of Project CHIP, the partnership that promises to simplify your smart home https://www.theverge.com/2021/5/11/22430666/matter-project-chip-smart-home-partnership-apple-amazon-google-zigbee

 

• Embassy Group invests in Pi Labs’ fund for proptech startups – The Economic Times https://m.economictimes.com/tech/startups/embassy-group-invests-in-pi-labs-fund-for-proptech-startups/articleshow/82604609.cms

 

• Europe now has 70 startup unicorns | Sifted https://sifted.eu/articles/europe-unicorns-2021/

 

• The five questions investors need to ask deeptech startups: Investing in deeptech is different. There may be no customer yet and rapid iteration of an MVP will not work https://sifted.eu/articles/five-questions-investors-deeptech/

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Property prices rise at fastest pace in two years https://m.independent.ie/business/personal-finance/property-mortgages/property-prices-rise-at-fastest-pace-in-two-years-40418137.html

 

• Rents fall in Dublin, rise elsewhere – Daft report https://www.rte.ie/news/business/2021/0511/1221058-daft-rent-report/

 

• Rent Pressure Zones to be replaced with new system next year | Newstalk https://www.newstalk.com/news/rent-pressure-zones-to-be-replaced-with-new-system-next-year-1195194

 

• Non-bank lender Finance Ireland is to begin offering a 20-year fixed term rate on residential mortgages https://amp.rte.ie/amp/1221325/

 

• The Irish Times view on young people’s living standards: The trapped generation – Millennials are likely to be the first generation to have lower living standards than their parents https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-young-people-s-living-standards-the-trapped-generation-1.4562160?mode=amp

 

• Dublin housing crisis breakdown of biggest SHDs and if we’ll ever own a home https://www.dublinlive.ie/news/property/dublin-housing-crisis-ever-home-20569102

 

• Council plans to lease estate for more than cost to buy | Business Post https://www.businesspost.ie/houses/council-plans-to-lease-estate-for-more-than-cost-to-buy-cb9f05ad

 

• Making Cents: Want to buy a house? Don’t lose hope: The Help to Buy (HTB) incentive helps first-time buyers purchase a house or apartment or get a self-build mortgage for a one-off home – it only applies to newly-built properties costing €500,000 or less https://www.irishexaminer.com/lifestyle/people/arid-40285613.html?type=amp

 

• Home ownership by the age of 30 nearly halved in space of a generation https://m.independent.ie/business/personal-finance/property-mortgages/home-ownership-by-the-age-of30-nearlyhalved-in-space-of-a-generation-40411353.html

 

• Property viewings are back. Here’s what it means for buyers and sellers: As lockdown restrictions begin to ease, auctions can also take place in person again from today https://www.irishtimes.com/life-and-style/homes-and-property/property-viewings-are-back-here-s-what-it-means-for-buyers-and-sellers-1.4559654?mode=amp

 

• Housing is ‘number one’ crisis facing young people – Taoiseach: Martin says Government working on policy to tackle [INVESTMENT funds, incorrect terminology removed] buying up estates https://www.irishtimes.com/news/politics/housing-is-number-one-crisis-facing-young-people-taoiseach-1.4559764?mode=amp

 

• ‘The housing game is rigged against the single population of this country’: Unless you earn over €70k or have wealthy parents, you’re simply not catered for when it comes to owning a house https://www.thejournal.ie/readme/housing-ireland-not-easy-for-single-people-jenn-gannon-5431508-May2021/

 

• Number of households seeking social housing up 33% since 2016 https://www.irishexaminer.com/news/arid-40285460.html?type=amp

 

• Minister for Housing invested in a foreign property deal that went wrong https://www.irishexaminer.com/news/politics/arid-40285670.html?type=amp

 

• Buyers struggling to find affordable homes: Sherry Fitzgerald survey exposes negative impact of Covid curbs on housing supply https://www.irishtimes.com/business/economy/buyers-struggling-to-find-affordable-homes-1.4564434?mode=amp

 

• Generation Gap: Three of our writers reveal their experience in the property market- The homeowner, the reluctant renter and the twenty-something: Three of our writers opened up about their experiences in the property world https://m.independent.ie/business/personal-finance/property-mortgages/generation-gap-three-of-our-writers-reveal-their-experience-in-the-property-market-40411491.html

 

• Also, ‘I’m 28 and live in a campervan’: Readers on their experiences of low wages and the property crisis: Millennials living with parents, house sharing and contemplating emigration to keep heads above water https://www.irishtimes.com/news/ireland/irish-news/i-m-28-and-live-in-a-campervan-readers-on-their-experiences-of-low-wages-and-the-property-crisis-1.4562066?mode=amp

 

• Ireland’s property market: ‘We envy every generation that came before us’: Readers share their stories of high rents, stagnant salaries and inability to buy homes https://www.irishtimes.com/news/social-affairs/ireland-s-property-market-we-envy-every-generation-that-came-before-us-1.4563361?mode=amp

 

• Covid-19 limits on construction continue to affect housing supply: Irish buyers and cash-rich expats continued to buy homes during Q1 of 2021 but, of the 25,000-30,000 houses needed just to catch up, Lisney estimates that just 8,000 will be completed in the greater Dublin area and 17,000 nationwide https://www.businesspost.ie/commercial/covid-19-limits-on-construction-continue-to-affect-housing-supply-e6a12abc

 

 

 

• Young, single women are pushed out of the property market in Ireland https://www.image.ie/self/the-jaw-dropping-price-of-housing-means-that-sadly-empowered-single-women-in-ireland-probably-need-to-be-born-into-wealth-265209

 

• Housing crisis in Leinster House: The TDs trying to get on the property ladder – ‘It says a lot when an Oireachtas member can’t afford a one-bed property in Dublin’ https://www.irishtimes.com/news/politics/housing-crisis-in-leinster-house-the-tds-trying-to-get-on-the-property-ladder-1.4565427?mode=amp

 

• Property shortage sees tenants paying an extra €900 per year https://www.irishexaminer.com/news/arid-40287035.html

 

• Dublin 6 residential investment opportunity guiding at €1.95m: Rathmines pre-63 property is fully-occupied and producing €144,720 in annual rent https://www.irishtimes.com/business/commercial-property/dublin-6-residential-investment-opportunity-guiding-at-1-95m-1.4560382?mode=amp

 

• Darragh O’Brien: We will ‘level the playing field’ on house sales https://www.irishexaminer.com/news/politics/arid-40289036.html?type=amp

 

• Number of retrofits completed last year was 25% below target  https://www.irishexaminer.com/news/arid-40288460.html

 

• Over 180 Irish properties to be auctioned online tomorrow | BreakingNews.ie https://www.breakingnews.ie/amp/ireland/over-180-irish-properties-to-be-auctioned-online-tomorrow-1126976.html

 

• Cheapest and most expensive rental properties on the market in Dublin: From a €600-a-month studio flat to a luxury €4,200-a-month apartment complete with concierge and private cinema https://m.independent.ie/regionals/dublin/cheapest-and-most-expensive-rental-properties-on-the-market-in-dublin-40423228.html

 

• New Mortgage Option Set To Shake Up The Market For Homebuyers https://extra.ie/2021/05/14/business/property/new-mortgage-option/amp

 

• State-owned banks clash with cheaper housing drive:  The Government cannot continue to drive on both sides of the road regarding its conflicting interests of maximising profits of the State-owned banks for the Exchequer and prioritising affordable housing. https://m.independent.ie/opinion/letters/state-owned-banks-clash-with-cheaper-housing-drive-40424851.html

 

• Digging down to big it up: The trend for basement extensions in Ireland – Interest in basement extensions is on the rise in Ireland, but is it worth the huge expense? John Lattimore uncovers the upsides of going underground https://www.thetimes.co.uk/article/digging-down-trend-basement-extensions-ireland-fjx9lhr5f

 

• House of the Week: Amazing grace of a grand dame reborn- The gentle modernising of a rambling rectory in Bray has created a residence that’s the stuff of dreams https://www.businesspost.ie/residential/house-of-the-week-amazing-grace-of-a-grand-dame-reborn-d2cdd0c8

 

• Owen Reilly appoints industry veteran as senior property consultant: Clodagh Murphy has 27 years of experience in the property market https://www.businesspost.ie/residential/owen-reilly-appoints-industry-veteran-as-senior-property-consultant-d8081907

 

 

COMMERCIAL PROPERTY NEWS

• Department of Health landlord’s ‘farcical’ refusal to discuss €10m rental overpayment https://www.irishexaminer.com/news/arid-40286459.html

 

• IDA issues €2m tender seeking property portfolio managers: Firms have been invited to bid for three separate contracts involving a total of 54 business parks https://www.businesspost.ie/business/ida-issues-eur2m-tender-seeking-property-portfolio-managers-56e2db99

 

• Ian Guider: Rent cost rows could scupper small business rescue scheme: As the grand reopening continues tomorrow, a new bill to help small firms in distress is welcome but some form of arbitration on leases is needed along with it https://www.businesspost.ie/business/ian-guider-rent-cost-rows-could-scupper-small-business-rescue-scheme-23ea6d99

 

• Elena Baturina cashes out of Morrison hotel for €68m https://www.thetimes.co.uk/article/elena-baturina-cashes-out-of-morrison-hotel-for-68m-fkt5s5bmg

 

• TikTok agrees long-term lease on new Dublin docklands office: Social media giant to pay over €55 per sq ft to rent entire 210,000sq ft Sorting Office https://www.irishtimes.com/business/commercial-property/tiktok-agrees-long-term-lease-on-new-dublin-docklands-office-1.4562076?mode=amp

 

• Corum secures the HSE as tenant for One Kilmainham Square: Health service enters into 10-year lease at a rent of €29 per sq ft for Dublin 8 offices https://www.irishtimes.com/business/commercial-property/corum-secures-the-hse-as-tenant-for-one-kilmainham-square-1.4561949?mode=amp

 

• €1.45m for a prime pitch on the capital’s political and business beltway https://www.irishtimes.com/business/commercial-property/1-45m-for-a-prime-pitch-on-the-capital-s-political-and-business-beltway-1.4558461?mode=amp

 

• Tommy Hilfiger on Grafton Street to close permanently: US fashion retailer exercises break option in lease 12 months early and pays €1.7m rent due https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/tommy-hilfiger-on-grafton-street-to-close-permanently-1.4564343?mode=amp

 

• US Embassy Relocation:  The Past and Future of an Icon http://www.newsfour.ie/2021/05/us-embassy-relocation-the-past-and-future-of-an-icon/

 

• As lockdown eases, three pubs in south Dublin hit the market https://m.independent.ie/business/commercial-property/as-lockdown-eases-three-pubs-in-south-dublin-hit-the-market-40420500.html

 

• Popular pub on Grand Canal Street on market for €1.3m: Becky Morgan’s is a favoured meeting point for fans going to and from the Aviva Stadium https://www.businesspost.ie/commercial/popular-pub-on-grand-canal-street-on-market-for-eur13m-a8fcf490

 

• Glasthule petrol station draws strong interest: The retail/commercial unit in the south Dublin suburb is guiding at €900,000 https://www.businesspost.ie/commercial/glasthule-petrol-station-draws-strong-interest-3eddbe73

 

• €4.5m west Dublin office investment offers 7pc yield https://m.independent.ie/business/commercial-property/45mwest-dublin-office-investment-offers-7pc-yield-40420482.html

 

• The ‘zoom or room’ dilemma meets the flexible office space: Iconic Offices, which runs 16 stylish office suites and co-working spaces in Dublin city centre, has been getting strong interest from people wanting to return to the office https://www.businesspost.ie/commercial/the-zoom-or-room-dilemma-meets-the-flexible-office-space-5f8c9b84

 

• Cork City Council considering former city centre jewellers for public toilet facility https://www.echolive.ie/corknews/arid-40285058.html

 

• DHL latest firm to be wooed by clean, green Blarney Business Park: JCD Group manages the facility, whose sustainable design are making it a key industry and employment hub in Cork https://www.businesspost.ie/commercial/dhl-latest-firm-to-be-wooed-by-clean-green-blarney-business-park-00acac7d

 

• Rapid-fire bidding sees well-known Cork City shop property sell for almost €1m https://www.corkbeo.ie/news/property/rapid-fire-bidding-sees-well-20606090

 

• Cork city service station and block of industrial units now on market: The property on Lower Pouladuff Road comprises half an acre and is guiding at €1.7m https://www.businesspost.ie/commercial/cork-city-service-station-and-block-of-industrial-units-now-on-market-16464546

 

• France’s Orpea to become State’s largest private nursing home operator: Reputed deal of over €100m makes firm largest private player https://www.irishtimes.com/business/health-pharma/france-s-orpea-to-become-state-s-largest-private-nursing-home-operator-1.4563442?mode=amp

 

• As tech offices begin to reopen, the workplace could look very different – TechCrunch https://techcrunch.com/2021/05/11/as-tech-offices-begin-to-reopen-the-workplace-could-look-very-different/

 

 

INTERNATIONAL PROPERTY NEWS

• Landlords lose court fight over New Look proposal https://www.thetimes.co.uk/article/landlords-lose-court-fight-over-new-look-proposal-530spmgxg

 

• Brexit risks worsening materials shortage crisis, Aecom warns https://www.building.co.uk/news/brexit-risks-worsening-materials-shortage-crisis-aecom-warns/5111687.article

 

• Kingspan denies misleading on fire safety – BBC News https://www.bbc.com/news/uk-northern-ireland-57007586.amp

 

• UK Agents under threat from huge revamp to private rental sector https://www.lettingagenttoday.co.uk/breaking-news/2021/5/agents-under-threat-from-huge-revamp-to-private-rental-sector

 

• UK Timber supply: the complete picture https://www.theconstructionindex.co.uk/news/view/timber-supply-the-complete-picture?amp=1

 

• Aby Rosen Buying 522 Fifth Avenue Retail Space to Convert to Office https://commercialobserver.com/2021/05/aby-rosens-rfr-buying-522-fifth-avenue-retail-space-to-convert-to-office/

 

 

 

FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS

Crowd-sourcing answers topical property questions:    

 

Irish Property Buyers Handbook annuals

As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) was rebranded in 2018 and now appears as part of The Property Insider series, published by Oak Tree Press, the first three titles are now published and available here: https://www.amazon.com/Carol-Tallon/

 

From 2020, the publishers and I wanted to ensure the content remains topical and we are now doing this by crowd-sourcing home buyer and investor queries, with crowd-sourced and editorial team answers. 

 

Join the Facebook Group here to contribute: https://www.facebook.com/groups/IrishPropertyBuyers/