Irish property market news and insights – for the industry, by the industry
- VC returns – VC outperformed every major asset class over the last several years, including real estate https://pitchbook.infogram.com/vc-returns-mt-1h7z2l8mg351x6o [industry professionals interested in facilitating pilots/testing or investing in Ireland-based proptech and construction technology startups with a focus on expansion into global markets can contact Proptech Ireland or indeed, contact me directly on carol@caroltallon.com]
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:
- An urban renaissance? Irish cities in the 18th century Building controls and street planning were slower to arrive in Irish cities than in estate towns or villages https://www.irishtimes.com/culture/books/an-urban-renaissance-irish-cities-in-the-18th-century-1.4562139?mode=amp
- Ireland calls for review of fund liquidity after March 2020 crisis: CBI finds ‘fragilities’ still exist more than year after height of pandemic turmoil https://amp.ft.com/content/1d9077a0-1342-4703-b47b-24989c8ad816
- Dáil unexpectedly passes SF motion seeking Dublin affordable housing for €230,000: Vote passed after the Government appeared to forget to back its own countermotion https://www.irishtimes.com/news/politics/d%C3%A1il-unexpectedly-passes-sf-motion-seeking-dublin-affordable-housing-for-230-000-1.4568779?mode=amp
- Stamp duty will rise to 10% for multiple house purchases under Government plans: All owner-occupiers eligible to buy reserved sections of housing estates under proposals https://www.irishtimes.com/news/politics/stamp-duty-will-rise-to-10-for-multiple-house-purchases-under-government-plans-1.4568346?mode=amp
- Up to 50% of future housing estates to be set aside for owner-occupiers, Ministers announce https://www.thejournal.ie/owner-occupier-cuckoo-funds-5440906-May2021/
- Michael Brennan: Does significant change in housing policy go far enough? Government tackles crisis through tax and planning policy, but it will take some time to gauge effectiveness of new approach https://www.businesspost.ie/houses/michael-brennan-does-significant-change-in-housing-policy-go-far-enough-d0c37f9c
- Move to restrict bulk-buying unlikely to increase supply, say industry figures https://www.irishtimes.com/news/ireland/irish-news/move-to-restrict-bulk-buying-unlikely-to-increase-supply-say-industry-figures-1.4569569?mode=amp
- Inquiry into curbs on housing swoops: Department of Housing to assess the impact new planning regulations would have on the scale of apartment development if they restricted the number of units that could be purchased in bulk by property investment funds https://www.thetimes.co.uk/article/inquiry-curbs-housing-swoops-ireland-green-party-zhc5xxzsx
- New information released by Home Building Finance Ireland (HBFI), a state agency, shows it provided hundreds of millions of euro in funding to developers building large-scale residential projects that have already been reserved by institutional funds. https://www.businesspost.ie/houses/state-paid-over-eur200m-towards-homes-bought-by-cuckoo-funds-564e90ff
- Also, State paid over €200m towards homes bought by *INSTITUTIONAL funds [*incorrect terminology removed]: HBFI’s decision to approve loans for homes already sold to institutional funds was “an appalling use” of public money. “HBFI was established to fill a gap in the financing market for homes. Its mission was to fund small- and medium-sized builders to deliver mid-priced homes. For HBFI to fund large institutional developers is a clear breach of its original mission,” https://www.businesspost.ie/houses/state-paid-over-eur200m-towards-homes-bought-by-cuckoo-funds-564e90ff?auth=login
- 3,000 local authority homes to be refurbished and re-let under plans by Housing Minister https://www.thejournal.ie/local-authority-refurbishment-5443724-May2021/
- Government planning move to curb short-term rentals: O’Brien says new rules for holiday lettings close to completion https://www.irishtimes.com/news/politics/government-planning-move-to-curb-short-term-rentals-1.4569739?mode=amp
- Vacant property tax targeted at institutional landlords who leave apartments lying empty under ‘serious consideration’ https://www.thejournal.ie/vacant-property-tax-3-5441551-May2021/
- David McWilliams: Housing won’t be fixed on Twitter time – long-term planning is needed: Metrics we use to fix this problem need to be based on politics of preparation, not of outrage https://www.irishtimes.com/opinion/david-mcwilliams-housing-won-t-be-fixed-on-twitter-time-long-term-planning-is-needed-1.4571331?mode=amp
- Against the grain: how crop prices are gaming the property market | Business Post https://www.businesspost.ie/construction/against-the-grain-how-crop-prices-are-gaming-the-property-market-c6f8f804
- Urgent need for Government clarity on return to workplace, Ibec says: Four out of five companies say they will operate a hybrid model of remote and onsite work https://www.irishtimes.com/business/urgent-need-for-government-clarity-on-return-to-workplace-ibec-says-1.4566698?mode=amp
- Large percentage of new-builds may be reserved for first-time buyers under new plan https://www.irishtimes.com/news/ireland/irish-news/large-percentage-of-new-builds-may-be-reserved-for-first-time-buyers-under-new-plan-1.4566560?mode=amp
- A simple way to end the housing crisis: bribery – The Currency https://thecurrency.news/articles/47353/a-simple-way-to-end-the-housing-crisis-bribery/
- Legislation around real estate investment funds could be tweaked to include land that has renewable assets on it in order to “unleash” a wave of capital investment into listed companies in Dublin https://www.thetimes.co.uk/article/tweak-property-laws-to-unleash-investment-in-dublins-listed-companies-urge-stockbrokers-d36q2xzgz
- Personal data of MyHome.ie customers ‘inadvertently’ leaked online https://www.thejournal.ie/myhome-ie-customer-data-leak-5441232-May2021/
- How would opposition parties tackle the housing crisis? https://amp.rte.ie/amp/1221991/
- It’s the economy, stupid — so we need to be smarter about the FDI golden goose https://www.thetimes.co.uk/article/its-the-economy-stupid-so-we-need-to-be-smarter-about-the-fdi-golden-goose-r2kx53zw5
- Property owner agrees to honour woman who shot Mussolini https://www.thetimes.co.uk/article/property-owner-agrees-to-honour-woman-who-shot-mussolini-s6zb8b239
- Data Centres & Critical Infrastructure Online – May 27th 2021, Join Online: https://www.datacentreandinfrastructure.com
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/ https://youtu.be/IUDBPDvo5P0 https://youtu.be/UV9bAE4gNFI https://youtu.be/_rObVnI9vEo Email the Property Matters team at info@propertydistrict.ie
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Glenveagh Properties urges Coalition to act against objectors: “It is clear that the judicial review mechanism has become its Achilles heel, and potentially the Achilles heel of housing delivery itself.” https://www.irishtimes.com/news/ireland/irish-news/glenveagh-properties-urges-coalition-to-act-against-objectors-1.4571805?mode=amp
- Dundrum locals fear traffic gridlock over Central Mental Hospital site plans: Residents fear gridlock once Central Mental Hospital site redeveloped for 1,300 homes https://www.irishtimes.com/news/environment/dundrum-locals-fear-traffic-gridlock-over-central-mental-hospital-site-plans-1.4570636?mode=amp
- Fate of badger family at centre of planning battle between Pat Kenny and nursing home developer https://www.thejournal.ie/badger-family-nursing-home-pat-kenny-5439846-May2021/
- Just the ticket: Dublin Bus seeks proposals for redevelopment of depots: State-owned bus company looks at alternative uses for seven garages across the capital https://www.irishtimes.com/life-and-style/homes-and-property/just-the-ticket-dublin-bus-seeks-proposals-for-redevelopment-of-depots-1.4568484?mode=amp
- Outdoor dining boost as Merrion Row pedestrianisation to be continued into summer: A review will take place in autumn to determine if the new arrangements can be continued https://www.dublinlive.ie/news/health/outdoor-dining-boost-merrion-row-20632888
- Dún Laoghaire pedestrianisation ‘not without its challenges’: #PublicConsultation process on new plans will be open for the next three weeks https://www.irishtimes.com/news/environment/d%C3%BAn-laoghaire-pedestrianisation-not-without-its-challenges-1.4571834?mode=amp
- Additional parklets to be provided in Cork city https://www.echolive.ie/corknews/arid-40291901.html
- Public invited to have their say on housing scheme for Cork’s northside https://www.echolive.ie/corknews/arid-40292993.html
- Housing development extended for Cork village despite local opposition https://www.irishexaminer.com/news/munster/arid-40292060.html
- Call for action on derelict buildings in Oranmore – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/call-for-action-on-derelict-buildings-in-oranmore/
- 27 Families Receive Keys To Tuath-Built Homes In The Midlands – Midlands 103 https://www.midlands103.com/news/midlands-news/27-families-receive-keys-to-tuath-built-homes-in-the-midlands/
- Local businesses hopeful over pedestrianisation proposals for Carrick-on-shannon https://www.shannonside.ie/news/local-businesses-hopeful-over-pedestrianisation-proposals-for-carrick-on-shannon-182086
- Luggala peatlands to undergo restoration to support carbon capture and biodiversity https://www.irishtimes.com/news/environment/luggala-peatlands-to-undergo-restoration-to-support-carbon-capture-and-biodiversity-1.4566681?mode=amp
- Sligo Rovers planning ‘ambitious’ €17.3m redevelopment for Showgrounds: Club will be seeking Government investment to turn ground into 6,000 all-seater https://www.irishtimes.com/sport/soccer/national-league/sligo-rovers-planning-ambitious-17-3m-redevelopment-for-showgrounds-1.4567698?mode=amp
*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
- Johnny Ronan’s high-reaching construction ambitions may grab headlines, but arguably it is his former partner in the one-time ubiquitous Treasury Holdings who may leave a greater imprint on the country’s built environment https://m.independent.ie/opinion/comment/johnny-stole-the-limelight-buthis-bartra-buddys-legacy-may-leave-a-far-deeper-imprint-40455040.html
- Housing activity returns to growth as restrictions ease in April https://www.irishbuildingmagazine.ie/2021/05/17/housing-activity-returns-to-growth-as-restrictions-ease-in-april/
- Construction input costs are rising at their fastest pace in 17 years https://m.independent.ie/business/irish/inflation-soars-for-key-construction-supplies-as-sector-eyes-recovery-40432199.html
- Higher cost of building materials could ‘lock out’ more home-buyers: Builders warn increased pandemic-related costs must be passed on to buyers https://www.irishtimes.com/news/ireland/irish-news/higher-cost-of-building-materials-could-lock-out-more-home-buyers-1.4569565?mode=amp
- THE group behind McMahons Builders Providers saw its profits surge tenfold to €55.3m during 2019, as its turnover jumped 81pc to almost €177m. https://m.independent.ie/business/irish/profits-surge-tenfold-to-55m-at-builders-providers-40446887.html
- Offers for prime Dublin residential rental platform surpass €1bn: Kennedy Wilson, Axa, and Blackstone among parties expressing interest in Marlet portfolio sale https://www.irishtimes.com/business/commercial-property/offers-for-prime-dublin-residential-rental-platform-surpass-1bn-1.4568373?mode=amp
- Developer Johnny Ronan’s plan for two high-rise towers in Dublin’s docklands has been turned down by An Bord Pleanála. https://amp-rte-ie.cdn.ampproject.org/c/s/amp.rte.ie/amp/1223037/
- Construction Industry Federation sells D6 headquarters to developer for €23m: Osborne + Co to pursue plan for 147,000sq ft office scheme on high-profile Canal Road site https://www.irishtimes.com/business/commercial-property/construction-industry-federation-sells-d6-headquarters-to-developer-for-23m-1.4568460?mode=amp
- South Dublin site with scope for 149 homes seeking €9m: Zoned residential land has prime location on Glenamuck Road in Carrickmines https://www.irishtimes.com/business/commercial-property/south-dublin-site-with-scope-for-149-homes-seeking-9m-1.4565177?mode=amp
- An Bord Pleanála sanctions €62.5m Crumlin apartment scheme: Green light secured by developer for contentious 152-apartment complex in neighbourhood https://www.irishtimes.com/business/economy/an-bord-plean%C3%A1la-sanctions-62-5m-crumlin-apartment-scheme-1.4567749?mode=amp
- Developers Red Rock have made a fresh bid to construct a 12 storey ‘build to rent’ apartment block for Donnybrook, Dublin 4. https://www.breakingnews.ie/business/fresh-bid-to-develop-donnybrook-apartment-block-1129669.html
- North Dublin Bank of Ireland branch offers residential opportunity at €900,000: 87-89 Swords Road comes with full planning for six apartments over retail premises https://www.irishtimes.com/business/commercial-property/north-dublin-bank-of-ireland-branch-offers-residential-opportunity-at-900-000-1.4565180?mode=amp
- Trinity Street car park seeks permission for restaurant on top floor: Project also includes plans for gallery and open-air cinema https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/trinity-street-car-park-seeks-permission-for-restaurant-on-top-floor-1.4567591?mode=amp
- New €5.1 million 16-unit residential development commences in Firhouse https://www.echo.ie/tallaght/article/new-5-1-million-16-unit-residential-development-commences-in-firhouse
- Plans for 194-bed hotel on Cork’s Camden Quay are delayed: A rooftop restaurant, gym and groundfloor restaurant/café are also included in the plan. https://www.irishexaminer.com/property/developmentconstruction/arid-40293824.html
- Major new planning application proposes 200 homes for Mahon https://www.irishexaminer.com/property/developmentconstruction/arid-40294844.html
- Farrans Construction begins investigation stage of Irish Water supply upgrade project https://www.irishbuildingmagazine.ie/2021/05/17/farrans-construction-begins-investigation-stage-of-irish-water-supply-upgrade-project/
- Plan for multi-storey residential development fronting onto Lough Atalia – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/plan-for-multi-storey-residential-development-fronting-onto-lough-atalia/
- City planners set to consider proposal for Kingston ‘urban village’ – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/city-planners-set-to-consider-proposal-for-kingston-urban-village/
- Claims housing development in Athenry being “held to ransom” – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/claims-housing-development-in-athenry-being-held-to-ransom/
- Waterford council chief defends decision to end North Quays contract | https://www.breakingnews.ie/ireland/waterford-council-chief-defends-decision-to-end-north-quays-contract-1128398.html
- 38 new social housing units to be built in Limerick https://www.irishexaminer.com/news/munster/arid-40292081.html?type=amp
- An Bord Pleanala rejects proposal for Limerick housing estate https://www.limerickleader.ie/news/home/634212/an-bord-pleanala-rejects-proposal-for-limerick-housing-estate.html
- Limerick developer loses appeal over bankruptcy order | BreakingNews.ie https://www.breakingnews.ie/business/limerick-developer-loses-appeal-over-bankruptcy-order-1128450.html
- Application for 115-unit Kilkenny housing scheme going directly to An Bord Pleanála https://kclr96fm.com/application-for-115-unit-kilkenny-housing-scheme-going-directly-to-an-bord-pleanala/ Also, Concern raised over future ownership of 115 unit housing development in Kilkenny https://www.kilkennypeople.ie/news/kilkenny-news/634251/concern-raised-over-future-ownership-of-115-unit-housing-development-in-kilkenny.html
- Council Refuses Planning Permission For ALDI Store In Shannon – Clare FM https://www.clare.fm/news/council-refuses-planning-permission-aldi-store-shannon/
- Developers provide reassurance over proposed Clare homes – The Clare Champion https://clarechampion.ie/developers-provide-reassurance-over-proposed-homes/
- New Castlebar housing scheme gets the go-ahead | Connaught Telegraph https://www.con-telegraph.ie/2021/05/19/new-castlebar-housing-scheme-gets-the-go-ahead/
- €1.2m asking price for unfinished homes in Ballaghadereen housing estate | Shannonside.ie https://www.shannonside.ie/news/e1-2m-asking-price-for-unfinished-homes-in-ballaghadereen-housing-estate-182236
- Government gives green light for €5.6m Longford housing investment https://www.longfordleader.ie/news/home/635069/government-gives-green-light-for-5-6m-longford-housing-investment.html
- Major housing development on outskirts of Gorey denied planning: Scheme of 363 homes denied due to its poor design and layout and lack of facilities https://www.irishtimes.com/business/construction/major-housing-development-on-outskirts-of-gorey-denied-planning-1.4570820?mode=amp
- Third ‘Enforcement Order’ issued over Tullow warehouse development: The developer has to pay up nearly half a million euro in the next four weeks and refund the local authority for all the costs of their investigation to his non-compliance https://kclr96fm.com/3rd-enforcement-order-tullow/
- Dispute over Dublin development sites admitted to Commercial Court: Sites located at Blackrock, Rathmines and Crumlin https://www.irishtimes.com/business/commercial-property/dispute-over-dublin-development-sites-admitted-to-commercial-court-1.4570540?mode=amp
- Initiative Ireland’s €600m deal could deliver 5,000 new homes: The joint venture with Fairfield Real Estate Finance will take place over three years https://www.businesspost.ie/houses/initiative-irelands-eur600m-deal-could-deliver-5000-new-homes-f6a8d547
- Carey Tools get new bearings after Sextant and larger site sale to JCD: Following €7m site sale, Carey Tools switch relocation base to €2m building purchase in Cork’s Doughcloyne: no start date yet on 25-storey ‘build to rent’ apartment tower https://www.irishexaminer.com/property/commercial/arid-40293686.html
- Sawmill group Glennon Brothers buys rival Balcas: Deal unites leading names in Irish timber industry https://www.irishtimes.com/business/energy-and-resources/sawmill-group-glennon-brothers-buys-rival-balcas-1.4570375?mode=amp
- O’Reilly opens precast wall factory https://www.theconstructionindex.co.uk/news/view/oreilly-group-opens-precast-wall-factory?amp=1
- New home sales strong at Gannon despite pandemic: Accounts for Gannon Homes – led by Gerry Gannon – show that pre-tax profits reduced by 28.5pc to €3.68 million in 2019. The drop in profit came in spite of revenues increasing by 2.5pc from €77.1m to €79.19m. https://m.independent.ie/business/irish/new-home-sales-strong-at-gannon-despite-pandemic-40437870.html
- Irish engineering firm creates 200 US jobs with $13m expansion: Donegal-based company E+I Engineering to ramp up growth across Ireland https://www.irishtimes.com/business/manufacturing/irish-engineering-firm-creates-200-us-jobs-with-13m-expansion-1.4567811?mode=amp
- Local construction firm has built thousands of houses and apartments in Galway: O’Malley Construction – which has built thousands of homes in Galway and Dublin – is celebrating its 50th year in business. https://connachttribune.ie/local-construction-firm-has-built-thousands-of-houses-and-apartments-in-galway/amp/
- Collen Construction named amongst Ireland’s Best Employers: profiles of the top 25 https://m.independent.ie/business/irelands-best-employers/irelands-best-employers-profiles-of-the-top-25-40451169.html
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 *
- Well done to Dublin-based proptech company SpaceOs on securing €5m in investment: Firm has developed software for the property sector that helps users manage workspaces https://www.irishtimes.com/business/technology/dubin-based-proptech-company-spaceos-secures-5m-in-investment-1.4567538?mode=amp
- Ireland must work hard to retain reputation for manufacturing expertise: Ireland has developed a high level of plant engineering and large-scale construction expertise. https://www.businesspost.ie/commercial-reports/ireland-must-work-hard-to-retain-reputation-for-manufacturing-expertise-3c1e7a16
- “Compliance is a huge issue. Building physics is coming into construction, unless you understand it and have everything right, then you’ll be wrong,” https://www.irishexaminer.com/business/economy/arid-40293959.html?type=amp
- Concrete plans: Backed by Bill Gates, valued at €200m, Ecocem now wants to deliver on its potential – The Currency https://thecurrency.news/articles/47488/concrete-plans-investment-by-bill-gatess-clean-tech-fund-values-ecocem-at-e200m-and-opens-up-emerging-markets/
- Helping lay blueprints for early-stage startups, Liège-based Rise PropTech launches €20 million fund https://tech.eu/brief/helping-lay-blueprints-for-early-stage-startups-liege-based-rise-proptech-launches-e20-million-fund/
- Helsinki-based proptech Kodit acquires Spain’s rent-to-own startup Lucas – Tech.eu https://tech.eu/brief/helsinki-based-proptech-kodit-acquires-spains-rent-to-own-startup-lucas/
- New online register will ‘revolutionise’ the UK housing sector https://propertyindustryeye.com/new-online-register-will-revolutionise-the-housing-sector/
- PropTech rental platform claims to slash agent admin by 90% https://www.lettingagenttoday.co.uk/breaking-news/2021/5/european-proptech-rental-platform-claims-to-slash-agent-admin-by-90?source=newsticker
- Accountancy firm advises on transatlantic proptech deal | Insider Media https://www.insidermedia.com/news/south-west/accountancy-firm-advises-on-transatlantic-proptech-deal
- Emerging trends that will shape realty this year https://www.livemint.com/money/personal-finance/emerging-trends-that-will-shape-realty-this-year-11621196977646.html
- Unmuted: Why Proptech Boomed During the Pandemic – Commercial Observer https://commercialobserver.com/2021/05/unmuted-why-proptech-boomed-during-the-pandemic/
- Concrete batteries could allow buildings to store energy https://www.constructionenquirer.com/2021/05/18/concrete-batteries-could-allow-buildings-to-store-energy/
- How a Berkshire Hathaway company is quietly disrupting the construction industry https://www.fastcompany.com/90637837/how-a-berkshire-hathaway-company-is-quietly-planning-to-disrupt-the-construction-industry
- Eano’s Stella Wu is not your typical construction tech startup founder – TechCrunch https://techcrunch.com/2021/05/20/eanos-stella-wu-is-not-your-typical-construction-tech-startup-founder/
- Geospatial startup Unfolded.ai acquired by Foursquare – TechCrunch https://techcrunch.com/2021/05/20/geospatial-startup-unfolded-ai-acquired-by-foursquare/
- Proptech Company Plunk Raises $6.5 Million https://pulse2.com/proptech-company-plunk-raises-6-5-million/
- Korean proptech startup Dongnae gets $4.1M seed extension led by NFX – TechCrunch https://techcrunch.com/2021/05/19/korean-proptech-startup-dongnae-gets-4-1m-seed-extension-led-by-nfx/
RESIDENTIAL PROPERTY NEWS (including PRS)
- Housing plan Q&A: Will new reforms help the current crisis? Reforms will probably prove to be narrowly effective but fundamental problems on housing remain https://www.irishtimes.com/news/ireland/irish-news/housing-plan-q-a-will-new-reforms-help-the-current-crisis-1.4569442?mode=amp
- No quick fixes: Eight ways to solve Ireland’s housing crisis https://www.irishtimes.com/life-and-style/homes-and-property/no-quick-fixes-eight-ways-to-solve-ireland-s-housing-crisis-1.4570646?mode=amp
- Expert view: Housing ideas to roll out now – Six industry specialists on immediate measures to help resolve Ireland’s housing problem https://www.irishtimes.com/life-and-style/homes-and-property/expert-view-housing-ideas-to-roll-out-now-1.4571363?mode=amp
- Rising to the residential challenge https://www.irishtimes.com/special-reports/future-of-our-cities/rising-to-the-residential-challenge-1.4561724?mode=amp
- First time buyers, spiralling rents and why we are on the cusp of a major housing policy mistake – Housing policy in Ireland fetishises first time buyers, at the expense of everyone else. And this focus on first time buyers has led to skyrocketing rents, and may be about to cause a major public policy error. https://thecurrency.news/articles/47054/first-time-buyers-spiralling-rents-and-why-we-are-on-the-cusp-of-a-major-housing-policy-mistake/
- Nama close to approving sale of 69 Dublin apartments to UK-based fund: State agency reaches deal in principle with serial block-buyer of apartments to rent https://www.irishtimes.com/news/ireland/irish-news/nama-close-to-approving-sale-of-69-dublin-apartments-to-uk-based-fund-1.4567753?mode=amp
- Attorney General approves proposals to reform the housing planning system https://www.irishtimes.com/news/ireland/irish-news/attorney-general-approves-proposals-to-reform-the-housing-planning-system-1.4566806?mode=amp
- Aidan Regan: Brexit an awful reminder of what happens when you turn your major city into a playground for global capital: Excluding apartments from the new legislation on bulk-buying was a big mistake and shows the complete lack of a long-term vision for Dublin as a city where ordinary citizens, and not just the transient rich, can live https://www.businesspost.ie/houses/aidan-regan-brexit-an-awful-reminder-of-what-happens-when-you-turn-your-major-city-into-a-playground-for-global-capital-d3037338
- Coalition is scrambling for ideas as the housing crisis hits home: As the sense grows that the national housing crisis has reached a tipping point, many are unconvinced that the government’s latest measures will do much to solve the many problems https://www.businesspost.ie/politics/coalition-is-scrambling-for-ideas-as-the-housing-crisis-hits-home-16ed6452
- Smaller foreign funds target second-hand homes around the country: Funds such as FourLeaf Investments and Crown Capital aren’t interested in buying up entire housing estates but are hunting for second-hand homes – and giving Ireland the hard sell to prospective investors https://www.businesspost.ie/houses/smaller-foreign-funds-target-second-hand-homes-around-the-country-f23f9fe6
- Big rise in number of social housing units leased to councils despite costs criticism: A total of 726 new social units were leased in first three months of 2021 https://www.irishtimes.com/business/economy/big-rise-in-number-of-social-housing-units-leased-to-councils-despite-costs-criticism-1.4566735?mode=amp
- Choking off Airbnb offers little upside for housing: Accommodation portal ends up in crosshairs whenever housing crisis heats up https://www.irishtimes.com/business/transport-and-tourism/choking-off-airbnb-offers-little-upside-for-housing-1.4570663?mode=amp
- New form to help wheelchair users obtain social housing https://amp.rte.ie/amp/1222234/
- Housing crisis: Trying to buy a home ‘consumes so much of your life’ | Newstalk https://www.newstalk.com/news/trying-to-buy-a-home-in-ireland-its-just-impossible-to-compete-against-investors-1196304
- State-backed fund will lease homes to local authority in lucrative deal: Deal is ‘hugely lucrative for investment fund’ says Social Democrats co-leader https://m.independent.ie/business/personal-finance/property-mortgages/state-backed-fund-will-lease-homes-to-local-authority-in-lucrative-deal-40447443.html
- Airbnb rentals to be targeted in Government crackdown: Tighter control of short-term letting part of Darragh O’Brien’s solution to housing crisis https://www.irishtimes.com/news/politics/airbnb-rentals-to-be-targeted-in-government-crackdown-1.4569745?mode=amp
- Willie O’Dea leads property firm in bulk buying homes row: A property company chaired by Willie O’Dea, a Fianna Fail TD, is building nearly 250 social homes on two sites in Limerick city bulk-bought by housing bodies that qualify for state funding. https://www.thetimes.co.uk/article/willie-odea-leads-property-firm-in-bulk-buying-homes-row-888gz8hnl
- Mica scandal: Families to stage protest over ‘farcical’ State scheme to fix their crumbling homes https://www.thejournal.ie/mica-protest-5442674-May2021/
- Housing estates are due to be taken in charge by Tipperary County Council: “there’s a real shortage of one bed houses” in this district. “Could we look at vacant buildings, over shops, to turn them into one-bed homes or apartments?” https://www.tipperarylive.ie/news/home/634843/housing-estates-are-due-to-be-taken-in-charge-by-tipperary-county-council.html
- Holiday homes in demand: How the pandemic has pushed up prices of staycation property https://m.independent.ie/business/irish/holiday-homesin-demandhow-the-pandemic-has-pushed-up-prices-of-staycation-property-40452979.html
- Q&A: Can we set cost of renting home against rental income? Family outgrowing boom-era apartment that is still in negative equity https://www.irishtimes.com/business/personal-finance/q-a-can-we-set-cost-of-renting-home-against-rental-income-1.4566570?mode=amp
- Should you avail of that Captial Gains Tax relief dating from the downturn? https://www.irishexaminer.com/farming/arid-40295129.html?type=amp
- Tips on installing bathroom wooden floors: War on weeds; overextending; and shower sorrow – your conundrums solved https://www.thetimes.co.uk/article/tips-on-installing-bathroom-wooden-floors-smrnk23km
- Meet the Irish man who’s selling all of his stuff and going to live in a tiny house on wheels | JOE.ie https://www.joe.ie/amp/life-style/meet-irish-man-whos-selling-stuff-going-live-tiny-house-wheels-720188
- Pastures new: Salterbridge estate sells to property veteran Stephen Vernon – Historic house and gardens in Waterford bought as retreat by entrepreneur https://www.irishtimes.com/business/commercial-property/pastures-new-salterbridge-estate-sells-to-property-veteran-stephen-vernon-1.4567803?mode=amp
- How can I get planning permission for a home on the land my uncle left me? Property Clinic: The ‘locals-only’ rule is just one of range of issues when building on a rural site https://www.irishtimes.com/life-and-style/homes-and-property/how-can-i-get-planning-permission-for-a-home-on-the-land-my-uncle-left-me-1.4565061?mode=amp
- First-time buyers can revitalise Rural Ireland: Redeveloping rural Ireland’s housing stock could help first-time buyers facing an uphill battle to find homes in urban areas. https://m.independent.ie/opinion/letters/first-time-buyers-can-revitalise-rural-ireland-40457225.html
- Learning on the job: Few architecture students have the chance to put theory into practice early on, but this poky cottage was a practical project that certainly makes the grade https://www.thetimes.co.uk/article/learning-on-the-job-xv2p3skhf
- Artist transforms shipping container into office and studio https://www.irishexaminer.com/property/homeandoutdoors/arid-40294649.html?type=amp
- ‘You’re at home, wherever you are’: The 20-somethings buying vans instead of houses https://www.breakingnews.ie/ireland/youre-at-home-wherever-you-are-the-20-somethings-buying-vans-instead-of-houses-1131142.html
COMMERCIAL PROPERTY NEWS
- As yet another shop closes, can Grafton Street survive? Once the Irish retail mecca, the Dublin shopping Street has been hit by closures. Can it recover? https://www.irishtimes.com/life-and-style/as-yet-another-shop-closes-can-grafton-street-survive-1.4566666?mode=amp
- Retail giants poised to land in Dublin: Among the retailers with intentions to open stores in Ireland are the fashion giant Calvin Klein; Weekday, a Swedish street fashion brand owned by H&M; and sportswear retailers Asics and Lululemon. https://www.thetimes.co.uk/article/retail-giants-poised-to-land-in-dublin-qpqrc9jng
- Out of the frying pan and into the fire for commercial tenants? As the economy reopens, businesses’ obligations on their rent arrears will require a comprehensive reassessment https://www.businesspost.ie/commercial/out-of-the-frying-pan-and-into-the-fire-for-commercial-tenants-9a5acc09
- Yew Grove acquires buildings in Dundalk and Citywest for €19m: Company to grow portfolio to 24 properties and have annualised rent roll of about €12.9m https://www.irishtimes.com/business/commercial-property/yew-grove-acquires-buildings-in-dundalk-and-citywest-for-19m-1.4571280?mode=amp
- Coca-Cola to establish new digital hub in Dublin: Hub in Ballsbridge, one of six worldwide, will create 40 jobs in first phase https://www.irishtimes.com/business/technology/coca-cola-to-establish-new-digital-hub-in-dublin-1.4566740?mode=amp
- Row over property company comes before Commercial Court https://www.irishtimes.com/business/commercial-property/row-over-property-company-comes-before-commercial-court-1.4567710?mode=amp
- Stephen’s Green Shopping Centre looks ahead to a post-pandemic world: The famous Dublin centre is welcoming visitors back with a host of measures to provide shoppers with a safe and comfortable experience https://www.businesspost.ie/commercial/stephens-green-shopping-centre-looks-ahead-to-a-post-pandemic-world-1ff73058
- Parts of Liffey Valley remain like a ghost town as shopping returns https://www.dublinlive.ie/news/dublin-news/liffeyvalley-dublin-shopping-lockdown-level3rules-20615921
- Fitzwilliam Street Georgian and mews seeks €2.4m: Dublin 2 office for sale with vacant possession and scope for conversion to residential use https://www.irishtimes.com/business/commercial-property/fitzwilliam-street-georgian-and-mews-seeks-2-4m-1.4568448?mode=amp
- Aldi Sandyford store at €10.75m promises ‘pandemic-proof’ 5.1% return: South Dublin supermarket let to German retailer until 2036 producing €603,376 rent https://www.irishtimes.com/business/commercial-property/aldi-sandyford-store-at-10-75m-promises-pandemic-proof-5-1-return-1.4565270?mode=amp
- End of an era for Dublin as city’s ugliest building finally gets demolished https://www.dublinlive.ie/news/end-era-dublin-citys-ugliest-20632182
- Cork quays office block anchored by Clearstream sold to French company for unconfirmed €60m+: OCP Deal seen as a boost to Cork city’s draw, especially as bought during a global pandemic https://www.irishexaminer.com/property/commercial/arid-40294724.html?type=amp
- Premier Inn plans more hotels in Dublin and Cork https://www.irishexaminer.com/business/economy/arid-40293635.html
- Mixed reception for forecasted bounce back in hotels sector: The multimillion sale of the Morrison Hotel on Ormond Quay last week underlines how the demand for hotels in Dublin is not a simple thing https://m.independent.ie/business/irish/mixed-reception-for-forecasted-bounce-back-in-hotels-sector-40452974.html
- Little scoops of happiness: Gino’s Gelato to open fourth Cork City retail outlet https://www.irishexaminer.com/property/commercial/arid-40293638.html
- Vacant ground floor of commercial unit in Cork city set for new lease of life https://www.echolive.ie/corknews/arid-40296113.html
- Social media giant Facebook has put a hold on inquiries for significant new office space in Cork that could have accommodated up to 1,000 employees due to the Covid-19 pandemic. https://www.irishexaminer.com/news/munster/arid-40293680.html?type=amp
- Sports Direct to open ‘mega store’ in Galway city centre: Retailer takes over Debenhams’ 65,000sq ft premises at the Corrib Shopping Centre https://www.irishtimes.com/business/commercial-property/sports-direct-to-open-mega-store-in-galway-city-centre-1.4565371?mode=amp
- Tesco and Decathlon to anchor new Galway development https://connachttribune.ie/tesco-and-decathlon-to-anchor-new-galway-development/
- Irish companies are making millions in the German property market https://www.thetimes.co.uk/article/irish-companies-millions-german-property-market-berlin-hx3f5zft0
INTERNATIONAL PROPERTY NEWS
- New property listings rise sharply – Rightmove https://propertyindustryeye.com/housing-supply-edges-higher/
- UK Building crisis looms as dwindling supplies bring sites grinding to a halt https://www.theguardian.com/business/2021/may/15/building-crisis-looms-as-dwindling-supplies-bring-sites-grinding-to-a-halt
- Consulting engineer Arup has told its 6,000 UK employees they can pretty much work when and where they like. https://www.theconstructionindex.co.uk/news/view/arup-tells-staff-to-pick-their-own-hours-and-location
- Remembering the architect who birthed our obsession with beautiful office interiors https://qz.com/work/2007993/how-art-gensler-shaped-the-modern-office/
- Amazon has shut down construction of a new US warehouse after seven nooses were found on-site in the last month https://www.bbc.com/news/business-57206701
- ► VIDEO: Panic in Shenzen as 300-metre skyscraper begins to wobble https://www.irishtimes.com/news/world/asia-pacific/panic-in-shenzen-as-300-metre-skyscraper-begins-to-wobble-1.4569504?mode=amp
FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS
Crowd-sourcing answers topical property questions:
Irish Property Buyers Handbook annualsAs 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/