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… I spent last week on the side of a hill in West Clare (in the driving rain!) learning the basics of construction (structure, roofing, plumbing, electrics, sewage etc) and how to build a tiny home with Harrison Gardner, author of the above book, and the Common Knowledge crew.  I will be sharing the details of this over at https://caroltallon.com later this week, in the meantime, if anyone is embarking on such a project – or even dreaming about it – for wider community benefit, please email me on carol@caroltallon.com. 

 

Below are the local and international stories that might be of particular interest: 

• State to set 2030 carbon targets to the highest levels for every sector: Two years of stagnation mean meeting legally binding Climate Action Plan commitment to achieve a 51 per cent drop by 2030 will now be challenging  https://www.businesspost.ie/politics/state-to-set-2030-carbon-targets-to-the-highest-levels-for-every-sector/

 

• Irish economy to grow 5.4pc this year despite 6.1pc inflation – EU  https://m.independent.ie/business/irish/irish-economy-to-grow-54pc-this-year-despite-61pc-inflation-eu-41653812.html

 

• Property prices defy cost-of-living squeeze to rise 15.2%: Prices rising much faster outside of Dublin but new homes just 6.2% up on last year https://www.irishtimes.com/business/economy/property-prices-defy-cost-of-living-squeeze-to-rise-15-2-1.4879523

 

• State is likely to need twice the 30,000 target of new homes a year, Nama warns: Agency believes figure could be 60,000 and pushes for earlier  delivery of 14,000  homes in Fingal  https://m.independent.ie/business/irish/state-is-likely-to-need-twice-the-30000-target-of-new-homes-a-year-nama-warns-41670593.html

 

• Report claims rent controls have backfired and worsened crisis: Study claims rent pressure zones have added to rent pressures  https://www.irishtimes.com/business/economy/report-claims-rent-controls-have-backfired-and-worsened-crisis-1.4881856

 

• US firm avoids short-term lets rule with 14-day minimum stays: Sonder Holdings growing its Dublin portfolio of serviced apartments  https://www.irishtimes.com/news/social-affairs/us-firm-avoids-short-term-lets-rule-with-14-day-minimum-stays-1.4884184

 

• Buyers can flip state-backed apartments and keep profits: New details of Croí Cónaithe scheme show that purchasers cannot be stopped from quickly reselling the homes with only a small clawback of the subsidy required https://www.businesspost.ie/news/buyers-can-flip-state-backed-apartments-and-keep-profits/

 

• Judicial reviews seen as major obstacle to meeting Ireland’s housing needs  https://www.irishlegal.com/articles/judicial-reviews-seen-as-major-obstacle-to-meeting-irelands-housing-needs

 

• Minister McGrath launches Project Ireland 2040 progress updates  https://www.gov.ie/en/press-release/e00c1-minister-mcgrath-launches-project-ireland-2040-progress-updates/#

 

• Housing ‘not a huge constraint’ in FDI decisions – IDA chief: Infrastructure likely to cause most investment challenges, Shanahan says https://www.irishtimes.com/business/economy/housing-not-a-huge-constraint-in-fdi-decisions-ida-chief-1.4884067

 

• Cerberus collected €113m last year from Irish loans it bought after the 2008 crash: Figures emerge in documents filed with the companies office for three Cerberus entities https://www.irishtimes.com/business/commercial-property/cerberus-collected-113m-last-year-from-irish-loans-it-bought-after-the-2008-crash-1.4884118

 

• An Taisce seeking to block development of new data centres being planned by Energia subsidiary  https://m.independent.ie/irish-news/an-taisce-seeking-to-block-development-of-new-data-centres-being-planned-by-energia-subsidiary-41664026.html

 

• The GDPR grey area catching out the majority of property professionals  https://propertyindustryeye.com/the-gdpr-grey-area-catching-out-the-majority-of-property-professionals/

 

• Northern Irish construction leaders have urged politicians to form a government immediately to end damaging period of uncertainty for the sector. Belfast-based CEF said Executive was needed to make critical decisions on planning, procurement and pipelines https://www.constructionnews.co.uk/government/northern-ireland-construction-chiefs-demand-new-government-19-05-2022/

 

• Northern Ireland’s post-pandemic bounce back setting strong example: Savill’s recently published report found that the Northern Irish economy grew by 6% in 2021 https://www.irishexaminer.com/property/planning/arid-40876550.html

 

• Nigel Hugill: the man building houses for the work-from-home revolution  (UK) https://www.theguardian.com/business/2022/may/14/nigel-hugill-the-man-building-houses-for-the-work-from-home-revolution

 

• Horticulturalists conduct research study to understand the value of biophilic design: Benholm Group aims to identify social and economic value of plants for interiors.  https://www.bdcnetwork.com/horticulturalists-conduct-research-study-understand-value-biophilic-design

 

• Forerunner, Bezos back Arrived, a startup that lets you buy into single-family rentals for ‘as little as $100’  https://techcrunch.com/2022/05/17/backed-by-forerunner-and-bezos-back-arrived-a-startup-that-lets-you-buy-into-single-family-rentals-for-as-little-as-100/

 

• Unreal estate: buying property in the metaverse: Is digital land and property in the metaverse a viable alternative to investing in physical real estate? And what role do surveyors have to play in assessing and valuing virtual assets?  https://ww3.rics.org/uk/en/modus/technology-and-data/smart-living/unreal-estate–buying-property-in-the-metaverse-.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

What started as #PropertyMatters, a single 60-minute show on Dublin South FM 93.9FM every Tuesday night, has now evolved into an online station hosting the very best construction, urban planning, property and proptech radio shows and podcasts from around the world. Our new website – produced by Hear Me Roar Media – offers audiences live and recorded access to global built environment content. To have your industry podcast included in the iPropertyRadio line-up, or to contribute as a guest on any of our shows, email the iPropertyRadio team at info@propertydistrict.ie

 

👉 Listen back to all shows at: https://ipropertyradio.com

On iPropertyRadio this week…

Part 1 – Property Matters: Ivan Gaine Managing Director of Sherry Fitzgerald New Homes and newly appointed chair of industry representative body, Property Industry Ireland (PII), discusses Housing for All and 2022 market expectations. 

Watch back: https://youtu.be/dZU7-l5SPNM

Listen back: https://ipropertyradio.com/matters/ 

 

Part 2 – Proptech Hot Seat: Ross Griffin, Founder of Kosmos, the digital QS, and Fifth Dimension, joins host Carol Tallon this week in the Proptech Hot Seat to talk about challenges in digitising pre-construction and construction.  

 

Watch back: https://youtu.be/bPCFsvc_7aQ

 

Listen back: https://ipropertyradio.com/proptech-hot-seat/ 

 

 

Produced by Hear Me Roar Media 

 

👉 Listen back to all shows at: https://ipropertyradio.com

 

On TikTok: Check out our latest tips for home buyers and first time buyers https://vm.tiktok.com/ZML3QkPy5/?k=1 [and for anyone rolling their eyes at the mere mention of TikTok: Older people using TikTok to defy ageist stereotypes, research finds  | The Guardian https://amp-theguardian-com.cdn.ampproject.org/c/s/amp.theguardian.com/technology/2022/may/18/older-people-using-tiktok-to-defy-ageist-stereotypes-research-finds ]

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• National Policy on Architecture to Boost Public Engagement and Create New Design Quality Criteria  https://www.gov.ie/en/press-release/ce301-national-policy-on-architecture-to-boost-public-engagement-and-create-new-design-quality-criteria/

 

• Why Dublin’s northside is better than the southside: Northside vs Southside is a debate we often get caught up in, but the answer is clear. The northside wins  https://www.dublinlive.ie/lifestyle/dublins-northside-better-southside-23953729.amp

 

• Planning row as couple get too close to the Edge: U2 guitarist objects to property that would ‘overlook’ his Killiney home https://www.thetimes.co.uk/article/planning-row-as-couple-get-too-close-to-the-edge-w2dqqpk0b

 

• Taoiseach to open first phase of Cork’s Marina Park hailed as “playground” for Docklands  https://www.irishexaminer.com/news/arid-40877807.html

 

• Residents living beside the site of a proposed telecoms mast in Knocknacarra that was refused planning permission are demanding the area be reinstated.  https://connachttribune.ie/residents-want-all-trace-of-unauthorised-phone-mast-removed/

 

• Athenry ‘eyesore’ to be toppled following demolition order  https://www.galwaydaily.com/news/athenry-eyesore-to-be-toppled-following-demolition-order/

 

• Sign of the times – village goes from five pubs to just one in a decade  https://connachttribune.ie/sign-of-the-times-village-goes-from-five-pubs-to-just-one-in-a-decade-521/

 

• Old stone-carved bank sign to be retained after community lobby  https://connachttribune.ie/old-stone-carved-bank-sign-to-be-retained-after-community-lobby/amp/

 

• Healing & Painting from the Heart of the Medieval Quarter: ‘Health Healing Holistic Therapies’ is a complementary therapy practice Newly located in the Heart of The Medieval Quarter of our beautiful Treaty City on the 1st Floor, 19 Nicholas Street Limerick https://www.limerickleader.ie/news/sponsored-content/813817/healing-painting-from-the-heart-of-the-medieval-quarter.html (pictured) 

 

• Approval granted for construction to begin on new Limerick secondary school  https://www.limerickleader.ie/news/home/816146/approval-granted-for-construction-to-begin-on-new-limerick-secondary-school.html

 

• Waterways Ireland looks to develop glamping and motorhome sites on its land  https://www.leinsterleader.ie/news/national-news/817560/waterways-ireland-looks-to-develop-glamping-and-motorhome-sites-on-its-land.html

 

• Why the long face? Artist pilloried after creating half-horse, half-man sculpture: Aidan Harte was thrilled to be asked to make a statue of a púca, a mythological mischievous spirit, but then his troubles began  https://www.theguardian.com/world/2022/may/20/why-the-long-face-artist-pilloried-after-creating-half-horse-half-man-sculpture

 

• Roscommon lake doubles in size, threatening homes and environment: Loughs Funshinagh and Ree ‘will be poisoned’ if cattle sheds and septic tanks flood  https://www.irishtimes.com/news/environment/roscommon-lake-doubles-in-size-threatening-homes-and-environment-1.4878940

 

• Named objector had no knowledge of house being built:  Serious issues of concern have arisen in regard to persons objecting to planning permission being granted for developments even though they might be located in opposite sides of the county.  https://www.killarneytoday.com/named-objector-had-no-knowledge-of-house-being-built/

 

 

 

 

*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* https://www.youtube.com/watch?v=rdwwKy4MA_4 

 

CONSTRUCTION & DEVELOPMENT NEWS

• Construction costs surge again in April as inflation continues to pump up wholesale prices: Structural steel and fabricated metal prices were up 42% and 38.5% respectively over 12 months.  https://www.thejournal.ie/wholesale-price-index-april-5769205-May2022/?amp=1

 

• ‘Near record’ costs weigh on Irish construction activity: Analysts are watching whether the huge turmoil caused by the Ukraine war which has further driven up energy costs so soon after the fallout on global supply chains from the Covid crisis.  https://www.irishexaminer.com/business/economy/arid-40873223.html

 

• New orders in the construction sector fell last month, as a result of near-record cost increases, the latest construction purchasing managers index for Ireland from BNP Paribas Real Estate has found.  https://www.rte.ie/news/business/2022/0515/1298165-new-construction-orders-fall-as-cost-increases-bite/

 

• Minister Humphreys launches Construction Work and Skills Week: https://www.gov.ie/en/press-release/d8c56-minister-humphreys-launches-construction-work-and-skills-week/

 

• Construction jobs gap worsened by ‘reluctance to get out of bed for 7am’: Employer seeking to fill 35 roles ‘got about two applications’  https://www.irishtimes.com/news/ireland/irish-news/construction-jobs-gap-worsened-by-reluctance-to-get-out-of-bed-for-7am-1.4883030

 

• Focus on Construction: Volatility puts the building industry at a crossroads  https://m.independent.ie/business/irelands-best-employers/focus-on-construction-volatility-puts-the-building-industry-at-a-crossroads-41670246.html

 

• An Bord Pleanála official changed inspector’s report  https://www.irishexaminer.com/news/arid-40875068.html Also; An Bord Pleanála’s Hyde inquiry to focus on 200 planning cases: The internal review is separate to an investigation being overseen by senior counsel Remy Farrell  https://www.businesspost.ie/news/an-bord-pleanalas-hyde-inquiry-to-focus-on-200-planning-cases/ 

 

• Gridlock between Department of Housing and Dublin City Council over roads funding: Council repeatedly sought a meeting with the Department to discuss funding problems with its roads network. It failed to get one  https://www.businesspost.ie/news/gridlock-between-department-of-housing-and-dublin-city-council-over-roads-funding/

 

• Nearly 20,000 homes in Dublin on hold due to lack of water supply: Housing taskforce finds substantial developments in Fingal and Dún Laoghaire-Rathdown can’t be built as Irish Water can’t connect to infrastructure  https://www.businesspost.ie/news/nearly-20000-homes-in-dublin-on-hold-due-to-lack-of-water-supply/

 

• Nama clashes with Fingal council over lands with space for up to 7,000 new homes: ‘Bad bank’ urges local authority to abandon moves to delay developing Dunsink lands  https://www.irishtimes.com/business/construction/nama-clashes-with-fingal-council-over-lands-with-space-for-up-to-7-000-new-homes-1.4884240

 

• Amazon and the operator of TikTok’s Irish data centre are among a dozen objectors to a South Dublin county council plan to freeze construction of data centres until at least 2028  https://www.thetimes.co.uk/article/web-giants-fight-freeze-on-data-centres-l2gwgpkzc

 

• Receivers hit back as €170m Ronan sale continues – React News https://reactnews.com/article/receivers-hit-back-as-e170m-ronan-sale-continues/

 

• Developers win appeal over €2.3m tax levy: Atlas GP Limited plans to build more than 500 apartments on the site of the former Techcrete factory: An Bord Pleanala (ABP) has overturned a €2.3 million vacant tax levy ordered by Fingal county council  https://www.thetimes.co.uk/article/developers-win-appeal-over-2-3m-tax-levy-rcm05st6n

 

• Five largest construction projects initiated in Ireland in Q1 2022  https://www.designbuild-network.com/marketdata/top-five-construction-projects-ireland-q1-2022/

 

• An Post seeks developer to deliver 500,000sq ft logistics unit: Postal service future-proofing as letters and shops give way to email and online retail https://www.irishtimes.com/business/commercial-property/an-post-seeks-developer-to-deliver-500-000sq-ft-logistics-unit-1.4880825

 

• Ditch the ensuites to make student flats cheaper, technological university chief says  https://m.independent.ie/irish-news/education/ditch-the-ensuites-to-make-student-flats-cheaper-technological-university-chief-says-41658778.html

 

• Christian Brothers and builder seek planning changes for Swords lands: Order and Michael Bailey want to progress housing developments on adjoining lands  https://www.irishtimes.com/news/ireland/irish-news/christian-brothers-and-builder-seek-planning-changes-for-swords-lands-1.4880144

 

• Ballymore seeks to repurpose Guinness building as new HQ for Diageo: Permission for multimillion-euro project at Brewhouse 2 to be sought from council https://www.irishtimes.com/business/commercial-property/ballymore-seeks-to-repurpose-guinness-building-as-new-hq-for-diageo-1.4880103

 

• Johnny Ronan looking to build 516 apartments at Irish Glass Bottle site: Consortium led by developer to lodge plans with Dublin City Council in coming days https://www.irishtimes.com/business/construction/johnny-ronan-looking-to-build-516-apartments-at-irish-glass-bottle-site-1.4881273

 

• Revised plans sought for Bartra build-to-rent scheme in Blackrock: Council also rejects proposal for Killiney project  https://www.irishtimes.com/business/construction/revised-plans-sought-for-bartra-build-to-rent-scheme-in-blackrock-1.4879969

 

• Owners of Howth Castle offer six acre site for social and affordable housing  https://www.breakingnews.ie/amp/ireland/owners-of-howth-castle-offer-six-acre-site-for-social-and-affordable-housing-1307378.html

 

• Dublin 4 site with full planning permission for 26 apartments guiding at €3m: Plot on Ringsend’s York Road located within 15-minute walk of ‘Silicon Docks’ https://www.irishtimes.com/business/commercial-property/dublin-4-site-with-full-planning-permission-for-26-apartments-guiding-at-3m-1.4876678

 

• UK developer plans €35m logistics project in Santry: British developer Chancerygate and investor Bridges Fund Management will speculatively develop 14 urban logistics and warehouse units https://m.independent.ie/business/commercial-property/uk-developer-plans-35m-logistics-project-in-santry-41664297.html

 

• Challenge to planning refusal for Cork apartment scheme adjourned: High Court judicial review challenge centres around refusal of planning permission in March for a fast-track apartment scheme in Blackpool, Cork City, on a site near property owned by a company in which deputy chair of An Bord Pleanála Paul Hyde had a 25% share  https://www.irishexaminer.com/news/courtandcrime/arid-40873751.html

 

• Green light to turn derelict Cork city store into five-storey apartment block: Planners initially applied to build a six-storey complex made up of 31 units but the council say it can go ahead if the height is cut by one block  https://www.corkbeo.ie/news/local-news/green-light-turn-derelict-cork-23977950

 

• New €10m supermarket opening in Cork commuter town: The retailer was granted planning permission from Cork County Council for its new 1,315sqm store on Friday.  https://www.echolive.ie/corknews/arid-40877378.html

 

• Setback for plan to build multi story hotel in east of city.  https://galwaybayfm.ie/galway-bay-fm-news-desk/setback-for-plan-to-build-multi-story-hotel-in-east-of-city/

 

• An Bord Pleanála have granted planning permission for 111 houses and apartments in Claregalway following a strategic housing development application by K King Construction for the development at Lakeview, Claregalway.  https://connachttribune.ie/development-hailed-as-major-boost-in-tackling-local-housing-demand/amp/

 

• Council secures approval for new 20-home development in Limerick estate  https://www.limerickleader.ie/news/planning/812934/council-secures-approval-for-new-20-home-development-in-limerick-estate.html

 

• Hotel not ruled out as sale of Veha site in Wicklow town nears completion  https://m.independent.ie/regionals/wicklow/news/hotel-not-ruled-out-as-sale-of-veha-site-in-wicklow-town-nears-completion-41660031.html

 

• Concern over progress of Kildare shopping centre development: No planning application lodged after two years https://www.leinsterleader.ie/news/naas/813853/concern-over-progress-of-kildare-shopping-centre-development.html

 

• An Bord Pleanala approves Clonmel housing development  https://tippfm.com/news/housing/bord-pleanala-approves-clonmel-housing-development/

 

• Site selection still underway for IDA building in Tralee promised at beginning of 2021  https://www.radiokerry.ie/amp/news/site-selection-still-underway-for-ida-building-in-tralee-promised-at-beginning-of-2021-282568

 

• Planning permission refused for 15 homes in Tydavnet  https://www.northernsound.ie/news/planning-permission-refused-for-15-homes-in-tydavnet-194697

 

• Plans for 11 houses on Mayo hotel estate turned down  https://www.con-telegraph.ie/2022/05/18/plans-for-11-houses-on-mayo-hotel-estate-turned-down/

 

• Pretax profits up 48% at Michael Cotter’s Park Developments: Company became less reliant on residential business  https://www.irishtimes.com/business/construction/pretax-profits-up-48-at-michael-cotter-s-park-developments-1.4883092

 

• US investor takes majority stake in Irish engineering firm Leo Lynch: Texas-based Cathexis Holdings says engineering firm will ‘remain Irish’ https://www.irishtimes.com/business/construction/us-investor-takes-majority-stake-in-irish-engineering-firm-leo-lynch-1.4881322

 

• Ireland’s Grafton Architects wins 2022 Daylight Award  https://www.globalconstructionreview.com/irelands-grafton-architects-wins-2022-daylight-award/ Also: The two Irish women among the world’s top architects  https://www.irishtimes.com/culture/art-and-design/the-two-irish-women-among-the-world-s-top-architects-1.4877712

PROPTECH, MMC & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2022 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.

 

• Improvise, adapt, pivot: Five tips for finding product-market fit: Under changing market conditions, how can founders make sure their product is always relevant? https://sifted.eu/articles/improvise-adapt-pivot-product-market-fit/

 

• Digital Construction Webinar – Innovation Value Institute: Innovative solutions for information exchanges in Digital Construction – Thursday 26 May 2022 | 15.00-16.30 [IST Dub] Signup: https://ivi.ie/uncategorized/digital-construction-webinar-2/

 

• Proptech Cheat Sheet: New resource to bring clarity to the complex business ecosystem known as “Proptech” –  Real Estate Tech360, developed in a collaboration between CREtech and Kastle.   https://www.buildings.com/articles/43502/finally-proptech-cheat-sheet

 

• Home Made launches ‘property wallet’ to spread landlord costs: New feature is designed to be more cost-effective than once-off agent fees https://www.irishtimes.com/business/technology/home-made-launches-property-wallet-to-spread-landlord-costs-1.4880739

 

• The latest PropTech start-up off the Geovation conveyor belt https://www.ordnancesurvey.co.uk/newsroom/blog/proptech-startup-geovation-homefinder

 

• Into the Metaverse: How Digital Twins Can Change the Business Landscape: New businesses are emerging onto a playing field likely to be based, at least partially, in the metaverse. Digital twins powered by location intelligence will be a crucial foundation for companies navigating and working successfully within this space in the future https://www.entrepreneur.com/article/425444

 

• Barcelona bets on ‘digital twin’ as future of city planning – New scheme aims to ensure planning is based on solid data, rather than political whim. https://www.politico.eu/article/barcelona-digital-twin-future-city-planning/

 

• Can Digital Twins Drive A Climate Change Agenda?  https://www.forbes.com/sites/jenniferhicks/2022/05/16/can-digital-twins-drive-a-climate-change-agenda/?sh=95fee2bc1465

 

• Using IoT To Enable The Modern Workplace https://www.forbes.com/sites/forbestechcouncil/2022/05/18/using-iot-to-enable-the-modern-workplace/amp/

 

• 7 Companies Building XR Opportunities in Construction  https://www.xrtoday.com/mixed-reality/7-companies-building-xr-opportunities-in-construction/amp/

 

• Dusty Robotics to use $45M in Series B Funding to Scale Digital Floorplan Printing: How a Roomba-style robot that prints a project layout onto a construction surface could compress construction timelines across the industry.  https://www.forconstructionpros.com/profit-matters/article/22223552/dusty-robotics-scales-project-layout-automation

 

• Investors discuss how labor shortage is shaking up the construction tech stack – Construction’s digital transformation journey is only just beginning, and the sector offers a ton of space for innovation https://techcrunch.com/2022/05/18/investors-discuss-how-labor-shortage-is-shaking-up-the-construction-tech-stack/amp/

 

• Building inclusivity into the design process with real-time visualisation https://www.pbctoday.co.uk/news/featured/building-inclusivity-design-process-real-time-visualisation/110987/

 

• $100M proptech incubator launches  https://www.itnews.com.au/digitalnation/news/100m-proptech-incubator-launches-580049

 

• VC Funding for Proptech Skyrockets as ESG Monitoring Advances. VC investment in proptech startups is on pace to shatter last year’s record of nearly $12B.  https://www.globest.com/2022/05/19/vc-funding-for-proptech-skyrockets-as-esg-monitoring-advances/

 

• Landlords boost proptech spend as workers return to the office  https://www.commercialrealestate.com.au/news/landlords-boost-proptech-spend-as-workers-return-to-the-office-1139182/

 

• German proptech startup Predium picks up €1.6 million for its ESG software solution  s https://www.eu-startups.com/2022/05/german-proptech-startup-predium-picks-up-e1-6-million-for-its-esg-software-solution/

 

• Proposed SEC changes may impact proptech companies trying to go public https://connectedremag.com/uncategorized/proposed-sec-changes-may-impact-proptech-companies-trying-to-go-public/

 

• Blockchain-based real estate platform Parcl recently secured a $7.5 million strategic funding round to boost real estate and partnerships  https://connectedremag.com/smart-buildings/proptech/proptech-company-parcl-secures-7-5m-in-funding/

 

• Proptech Firm Enertiv Raised $9M to Expand Services  https://commercialobserver.com/2022/05/proptech-firm-enertiv-raised-9m-to-expand-services/

 

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Is the Irish property market about to boil over? Eoin Burke Kennedy talks what happens next for buyers  https://www.irishtimes.com/news/ireland/irish-news/is-the-irish-property-market-about-to-boil-over-1.4881679

 

• Government urged to ramp up housing targets as price growth hits seven-year high https://www.irishexaminer.com/news/arid-40873658.html

 

• Covid-induced surge in house prices has reached tipping point: Get ready for a drop in prices as interest rates rise and housebuilding finally takes off https://www.irishtimes.com/business/economy/covid-induced-surge-in-house-prices-has-reached-tipping-point-1.4878831

 

• Homeowners could pay €400 extra a month if interest rates ‘normalised’: Head of Bonkers.ie warns of potential impact if ECB raises rates amid soaring inflation https://www.irishtimes.com/business/economy/homeowners-could-pay-400-extra-a-month-if-interest-rates-normalised-1.4881248

 

• Can’t buy, can’t rent case study: ‘Next week we’ll be homeless if we can’t find a place to rent’  https://m.independent.ie/irish-news/cant-buy-cant-rent-case-study-next-week-well-be-homeless-if-we-cant-find-a-place-to-rent-41651308.html

 

• Very few Irish people are buying new apartments. Is it because they can’t – or won’t?  https://www.irishtimes.com/life-and-style/homes-and-property/very-few-irish-people-are-buying-new-apartments-is-it-because-they-can-t-or-won-t-1.4872448

 

• “First-time buyers working in Dublin can afford only commuter towns such as Dundalk, Portlaoise and Wexford. Yet social housing tenants can insist on being housed in their own communities…” https://www.thetimes.co.uk/article/some-sane-ideas-to-fix-this-housing-madness-cdj9xdxpq

 

• Movers v stayers: How Ireland created a dysfunctional two-tier rental system: Stark new data reveals that sitting tenants have seen rental increases of 40 per cent over the past decade, less than half the increase in the open market, while the average lease length has doubled over the last 15 years. It raises significant questions about the effectiveness of rent controls. https://thecurrency.news/articles/83550/movers-v-stayers-how-ireland-created-a-dangerous-two-tier-rental-system/

 

• Are short-term lets to blame for the shortage of rented accommodation? Legislation using the planning system to curb boom in holiday lets isn’t working https://www.irishtimes.com/news/social-affairs/are-short-term-lets-to-blame-for-the-shortage-of-rented-accommodation-1.4884205

 

• Up to €14,000 can be earned in rent by social welfare recipients under newly agreed rules: The change means that social welfare payments will not be impacted for earning rental income under €14,000. https://www.thejournal.ie/social-welfare-rules-5768336-May2022/

 

• One in three young people believe rent will be biggest expenditure of lifetime  https://m.independent.ie/irish-news/one-in-three-young-people-believe-rent-will-be-biggest-expenditure-of-lifetime-41653144.html

 

• Tenants’ rights stronger than ever: Positive signs emerging within an increasingly sophisticated property management scene https://www.irishexaminer.com/property/planning/arid-40876511.html

 

• Backlash as €100k earners qualify for affordable homes scheme https://m.independent.ie/irish-news/news/backlash-as-100k-earners-qualify-for-affordable-homes-scheme-41653140.html

 

• There are now more short-term holiday lets available on Airbnb than long-term rentals listed on Daft.ie in all 26 counties  https://www.thetimes.co.uk/article/airbnbs-outstrip-long-term-rental-homes-in-every-county-mm5blpnz7

 

• Mark Keenan: If I were a young buyer I would buy a country town pub to get on the housing ladder  https://m.independent.ie/life/home-garden/homes/mark-keenan-if-i-were-a-young-buyer-i-would-buy-a-country-town-pub-to-get-on-the-housing-ladder-41668088.html

 

• Tenants in shock as they face a €600 rise in rent for a three bed semi in rural county Sligo town: Tenants in a Tubbercurry housing estate say they have been presented with a massive rise in their monthly rent from €800 to €1,400.  https://m.independent.ie/regionals/sligochampion/news/tenants-in-shock-as-they-face-a-600-rise-in-rent-for-a-three-bed-semi-in-rural-county-sligo-town-41660559.html

 

• House of the week: High over Dublin, a majestic historical home in Howth: Censure House, a six-bedroom home built by the Earl of Howth, combines Georgian grandeur with modern luxuries such as a home cinema and gym, is on the market for €15 million  https://www.businesspost.ie/property/house-of-the-week-high-over-dublin-a-majestic-historical-home-in-howth/

 

• For Sale: Now’s your chance to own Frank the famous Donegal shipping container  https://www.donegaldaily.com/2022/05/21/for-sale-nows-your-chance-to-own-frank-the-famous-donegal-shipping-container/amp/

 

• Home staging: how to add thousands to your selling price: It’s worth spending time and a little money on some simple hacks that make your home look clean and fresh — and add thousands to the selling price  https://www.thetimes.co.uk/article/home-staging-how-to-add-thousands-to-your-selling-price-32xck0sf5

 

 

 

 

COMMERCIAL PROPERTY NEWS

• Is There a Generational Divide When it Comes to the Return-to-Office Debate?  https://www.propmodo.com/is-there-a-generational-divide-when-it-comes-to-the-return-to-office-debate/

 

• Industrial and logistics vacancy to drop to record low  https://www.insidermedia.com/news/ireland/industrial-and-logistics-vacancy-to-drop-to-record-low

 

• Demand continues to grow for flexible office space: With many flex locations now at full capacity, flexible workspace providers are looking to move to regional locations  https://www.businesspost.ie/property/demand-continues-to-grow-for-flexible-office-space/

 

• Watermarque building put on market for €100m  https://www.thetimes.co.uk/article/watermarque-building-put-on-market-for-100m-388rgx7hh

 

• National College of Ireland closing in on €50m Dublin docklands deal: NCI in talks to acquire Central Bank office block to facilitate expansion of IFSC campus  https://www.irishtimes.com/business/commercial-property/national-college-of-ireland-closing-in-on-50m-dublin-docklands-deal-1.4880884

 

• Occupier sought for last remaining floor at 57 Adelaide Road: BNP Paribas Real Estate and Murgitroyd among latest firms to join tenant line-up  https://www.irishtimes.com/business/commercial-property/occupier-sought-for-last-remaining-floor-at-57-adelaide-road-1.4879644

 

• Clancourt seeks tenants for remodelled space at One Park Place: First and seventh floors of Hatch St scheme comprise 41,400sq ft of grade A offices https://www.irishtimes.com/business/commercial-property/clancourt-seeks-tenants-for-remodelled-space-at-one-park-place-1.4879874

 

• Suffolk Street church to let with permission for licensed food hall: St Andrew’s served until 2014 as a tourist office for State tourism body Fáilte Ireland https://www.irishtimes.com/business/commercial-property/suffolk-street-church-to-let-with-permission-for-licensed-food-hall-1.4879586

 

• Office supplies group Lyreco is investing €34m in a new head office and distribution facility in Rathcoole, Co Dublin and intends to hire an additional 50 staff here – a roughly 50pc increase in the workforce.  https://m.independent.ie/business/irish/office-supplies-giant-in-34m-irish-expansion-drive-41668301.html

 

• Mock Lego cladding on facade of new Grafton Street shop blocked by council: Danish toy giant opening first Irish shop this summer https://www.irishtimes.com/business/retail-and-services/mock-lego-cladding-on-facade-of-new-grafton-street-shop-blocked-by-council-1.4883983

 

• New owner for historic hotel  https://www.insidermedia.com/news/ireland/wirefox-acquires-historic-hotel

 

• European investors still keen on Irish care home market: Though activity has cooled a little, interest is still strong in homes run by top operators in future-proofed buildings, with more than €200m invested in the first four months of the year  https://www.businesspost.ie/property/european-investors-still-keen-on-irish-care-home-market/

 

• A never-ending journey: Ireland’s most sustainable shopping centre: Justin Young, general manager of one of Ireland’s largest shopping centres, says his intention for Mahon Point is clear: to create the most sustainable shopping centre in Ireland https://www.irishexaminer.com/sponsored/arid-40872161.html

 

• ‘It’s a symbol of Cork’: Local limestone ‘gem’ restored in city centre: “The landlords saw that there was an opportunity here to bring the building back to past glory, and they were willing to back it.”  https://www.echolive.ie/corknews/arid-40876820.html

 

• Poly selects Galway’s Crown Square for EMEA centre of excellence: US communications company to use new office as research and development hub https://www.irishtimes.com/business/commercial-property/poly-selects-galway-s-crown-square-for-emea-centre-of-excellence-1.4882816 (pictured above)

 

• Tim Hortons set to open first Irish restaurant in Limerick  https://www.limerickleader.ie/news/home/813196/tim-hortons-set-to-open-first-irish-restaurant-in-limerick.html

 

• Former Bank of Ireland building in Callan, Kilkenny goes sale agreed with hopes its next chapter will see it put to use for the community: The 414 square meter plot was put on the market with an asking price of €375,000  https://kclr96fm.com/former-bank-of-ireland-building-in-callan-kilkenny-goes-sale-agreed-with-hopes-its-next-chapter-will-see-it-put-to-use-for-the-community/

 

• Minaun Capital acquires Mill Retail Park in Gorey for €4.35m: Price paid by BidX1 founder Stephen McCarthy’s company reflects 8.25% initial yield  https://www.irishtimes.com/business/commercial-property/minaun-capital-acquires-mill-retail-park-in-gorey-for-4-35m-1.4876768

 

INTERNATIONAL PROPERTY NEWS

• Landsec reports record London office leasing as it returns to profit https://www.theguardian.com/business/2022/may/17/landsec-london-office-leasing-profit-bluewater-trinity-leeds

 

• Rem Koolhaas’ CCTV Headquarters redefined the skyscraper  https://www.dezeen.com/2022/05/12/cctv-headquarters-oma-deconstructivism/ (pictured) 

 

• Architects in China adapting to more sustainable and culturally relevant skyscrapers after supertall ban https://www.dezeen.com/2022/05/12/china-skyscraper-supertalls-architecture/

 

• Chinese scientists find massive 630ft-deep sinkhole with an entire hidden forest inside  https://m.independent.ie/world-news/chinese-scientists-find-massive-630ft-deep-sinkhole-with-an-entire-hidden-forest-inside-41664386.html

 

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/