Weekly Irish property market news and insights – for the industry, by the industry
Before we get stuck into the general property news of the week, below are the local and international stories that might be of particular interest:
- We are delighted to unveil our newest division at Property District, a brand-new Media Buying Division, specifically tasked with Identifying waste in construction and real estate advertising spend in Ireland. Right now, print is in decline (-10.4%), social media advertising is on the rise (+6%), and podcast advertising is expected to be the fastest growing sector for maximum reach (+22.3%), does your advertising budget for 2023 reflect this? If not, chat to our Media Buying Division to assess the return of your current advertising investment and review the full range of options: Email media@propertydistrict.ie
- As someone passionate about the branding of place, this is an important row back by Forbes: Forbes heads to Limerick to say sorry for contentious ‘Stab City’ article – The business magazine will stage a Forbes Under 30 Forum to “highlight the entrepreneurial ecosystem of the city and the region, its industrial innovation and investment potential”https://www.irishtimes.com/business/2023/05/26/forbes-heads-to-limerick-to-say-sorry-for-contentious-stab-city-article/?
- Housing in Ireland won’t look any better before the next general election: Economist Victor Duggan looks at the continued decline of housing supply in this country – he doesn’t hold out hope of it improving any time soon.https://www.thejournal.ie/readme/housing-crisis-ireland-5-6071020-May2023/
- Coalition plans tenders for floating accommodation to house asylum seekers: Several sites under consideration for berthing ‘floatels’ in Dublin and Cork https://www.irishtimes.com/ireland/social-affairs/2023/05/24/coalition-seeks-floating-accommodation-to-house-asylum-seekers/
- Housing Minister says Government ‘committed’ to Budget measures for landlords https://www.leinsterexpress.ie/news/national-news/1176590/housing-minister-says-government-committed-to-budget-measures-for-landlords.html
- Record 12,259 now homeless as impact of ending eviction ban is ‘beginning to be felt’ https://m.independent.ie/irish-news/record-12259-now-homeless-as-impact-of-ending-eviction-ban-is-beginning-to-be-felt/a1394953328.html
- Occupants given extra two weeks to vacate housing association-owned Dublin city building: The 46 people have been living in McSweeney House on Berkeley Street near Phibsborough since May 12th https://www.irishtimes.com/ireland/2023/05/27/extra-two-weeks-to-vacate-housing-association-owned-dublin-city-building/
- Darragh O’Brien complains to EU Commission it has delayed crackdown on Airbnb lettings – Rules that would see around 12,000 short-term properties come back into the long-term rental market mothballed by Europe https://www.irishexaminer.com/news/politics/arid-41144194.html
- Dublin has third lowest level of low-cost housing in world: Just 1.23% of properties in Dublin are on the market for less than half the median price, report says https://www.irishtimes.com/business/2023/05/21/dublin-has-third-lowest-level-of-low-cost-housing-in-world/
- President of auctioneers body resigns amid claims CEO sought to ‘suppress’ him: Departure comes seven weeks after a Co Louth auctioneer stood down as vice-president, citing concerns over governance of IPAV https://www.irishtimes.com/ireland/housing-planning/2023/05/21/president-of-auctioneers-body-resigns-amid-claims-ceo-sought-to-suppress-him/
- The Government had yet to apply for an approved €915m in grants as of last week from the EU’s pandemic recovery and resilience facility The EU must approve Ireland’s request for a delay, which can take three months https://m.independent.ie/business/irish/government-decision-not-to-draw-down-eu-fund-is-unforgivable-says-sinn-fein-mep-chris-macmanus/a995574792.html
- Global property giant behind Dublin and Cork apartments buys US bank loans: Troubled US bank PacWest has agreed to sell a portfolio of property loans worth $2.6bn (€2.4bn) to Kennedy Wilson Holdings https://www.irishexaminer.com/business/companies/arid-41145172.html
- State to convert vacant office blocks into housing under new plan https://www.breakingnews.ie/amp/ireland/state-to-convert-vacant-office-blocks-into-housing-under-new-plan-1478921.html
- Dublin councils paying up to twice as much for social housing than regional counterparts: Significant disparity in construction costs between Dublin councils and other local authorities, according to Department of Housing’s internal figures https://www.irishtimes.com/business/2023/05/23/dublin-councils-paying-up-to-twice-as-much-for-social-housing-than-regional-counterparts/
- Council’s order to deconstruct pub extension gets thrown out: Dublin publican Declan Doyle went to court after Dublin City Council ordered him to deconstruct the extensive renovations he had carried out in the premises next door to his landmark pub https://www.irishexaminer.com/opinion/commentanalysis/arid-41148403.html
- ‘It beggars belief a wee bit’: denied bank loans, mica families left in the lurch- With bills mounting up and little access to credit from banks, homeowners say they are unable to fund the cost of rebuilding their destroyed houses https://www.businesspost.ie/news-focus/it-beggars-belief-a-wee-bit-denied-bank-loans-mica-families-left-in-the-lurch/
- Marcus Magnier on 50 years of selling homes to the rich and famous: From the sale of a small farm in Tipperary to selling Abbey Leix estate, Colliers veteran Marcus Magnier looks back on a storied career https://www.irishtimes.com/property/residential/2023/05/10/you-avoid-the-chain-like-the-plague-wisdom-accrued-from-50-years-selling-irelands-most-opulent-homes/
- Missed opportunities for homegrown timber: Timber processors continue to export most of their products but not maximising opportunities in timber-frame and mass timber construction, writes Donal Magner. https://www.farmersjournal.ie/missed-opportunities-for-homegrown-timber-765967
- Empathy advocate calls for citizens’ assembly on migration https://www.irishexaminer.com/news/arid-41145562.html
- Consultation Opens On Ireland’s National Philanthropy Policy https://businessplus.ie/news/minster-obrien-announces-philanthropy-policy/
- Retrofit-first approach to be debated at Barbican summit https://www.architectsjournal.co.uk/news/retrofit-first-approach-to-be-debated-at-barbican-summit
- Financial literacy should be taught in schools to give everyone the skills to succeed in life: Proper training would better equip young people to make sound decisions throughout the different stages of their lives https://www.irishtimes.com/business/2023/05/22/financial-literacy-should-be-taught-in-schools-to-give-everyone-the-skills-to-succeed-in-life/
- 30 Under 30: The future of Irish tech is in their hands – Emmet Ryan guides you through a shortlist of the best up-and-coming engineers, founders and content creators in Irish tech https://www.businesspost.ie/connected/30-under-30-the-future-of-irish-tech-is-in-their-hands/
If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/sunday-roundup/
As always, you might let me know if I have missed out on any relevant property news by emailing carol@propertydistrict.ie.
(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)
SUNDAY LISTEN
We are excited to share the growth of iPropertyRadio! What started as #PropertyMatters, a 60-minute weekly show on Dublin South FM 93.9FM over 4 years ago, has now evolved into a global online station for the best construction, urban planning, property and proptech content. Check out our website, iPropertyRadio.com, brought to you by Hear Me Roar Media for live and recorded access to all the week’s built environment news.
Want to have your industry podcast included or be a guest on our shows? Reach out to us at hello@ipropertyradio.com. Last year, we hit a massive 7.5 million digital impressions across our brands and this figure is growing – Q4 2022/Q1 2023 we now have an average of 765,876 digital impressions each month, not including radio listenership and website visits. Huge thanks to all of you for your continued support!
Be sure to subscribe to the podcast and check out all of the other real estate and construction shows on https://ipropertyradio.com/shows/
This week on iPropertyRadio…
#Proptech Hot Seat
*VR For Gardens*
In the iProperty Radio Proptech Hot Seat this week is Darragh Collopy, VR Garden Designer with Duir Design.
Darragh joins to discuss how virtual reality is changing the way gardens designs are being brought to life and communicated to homeowners, giving them the ability to experience their dream garden space before it is even built.
Using Duir Design’s VR offering, clients can see what their garden will be like at different times and stages, helping them to make the right decisions: Visit Darragh at the Duir Design showgarden at Bord Bia – The Irish Food Board’s Bloom Festival next weekend and be in with a chance to win a VR headset of your own!
Watch/ listen back: https://ipropertyradio.com/proptech-hot-seat/
#BreakingGround
FEMCON European Project
This week on #BreakingGround we chat to Mary Whitney, Director of Education with Future Cast (Construction & Quarrying) , about the FEMCON European Project, which is on a mission to create innovative vocational education and training tools to help women – working in or considering a career in the construction industry – advance to visible roles within the industry.
The project’s goal is to make the industry more appealing to women, resulting in a greater number of women choosing the sector, creating conditions for positive change, and improving the industry’s gender outlook and quality of life in the male-dominated sector.
Mary shares information about the industry ‘Inclusion, Reach and Teach’ toolkit that will be available in the coming weeks to support construction companies. Learn more at: https://futurecast.info/femcon/
Watch back and listen back: https://ipropertyradio.com/breaking-ground/
Produced by Katie Tallon, with Hear Me Roar Media on sound https://hearmeroarmedia.com/
PLACEMAKING
OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT
- Digital Placemaking Tools for Public Consultation & Community Engagement | PLACEengage https://placeengage.com/digital-placemaking-tools-for-public-consultation-community-engagement/
- Civil servants complained that they are being sidelined by ministers and are being put under increasing pressure to fast-track policies without proper analysis – they also complained that the public has too much influence on policy through consultation https://www.businesspost.ie/news/civil-servants-sidelined-by-ministers-on-policymaking/
- About 60 asylum seekers moved into Santry complex – Site has been the centre of demonstrations by protesters in recent weeks https://www.irishtimes.com/ireland/social-affairs/2023/05/27/about-60-asylum-seekers-moved-into-santry-complex-overnight/
- Michael Moynihan: Is it too much to ask for a public space after spending €57m? Why even bother to open up the Counting House building and plaza to the public last weekend and tease us all and sundry with that fleeting glimpse of what might have been? https://www.irishexaminer.com/opinion/columnists/arid-41146321.html
- Former school and convent in Cork set to house Ukrainian refugees: Both buildings have been vacant for several years https://www.irishexaminer.com/news/munster/arid-41145763.html
- Marina Market ‘surprised’ at planning rejection given ‘overwhelming’ public support – It cited 10 critical points as to why this new planning application should be approved by Cork City Council https://www.irishexaminer.com/news/munster/arid-41147254.html
- Cork City Council approves plans for riverside walkway: The walkway will link in with an existing path to create a more extensive amenity. https://www.echolive.ie/corknews/arid-41145775.html
- Official opening of Galway’s new pedestrian and cycle bridge https://connachttribune.ie/official-opening-of-galways-new-pedestrian-and-cycle-bridge/
- Knocknacarra affordable housing proposal branded ‘divisive’ https://connachttribune.ie/knocknacarra-affordable-housing-proposal-branded-divisive/
- New community park for County Limerick village https://www.live95fm.ie/news/live95-news/new-community-park-for-county-limerick-village/
- SOME of the parklets provided in Limerick City centre during the Covid pandemic are now dirty, overgrown, and not used. https://www.limerickpost.ie/2023/05/25/some-limerick-city-centre-parklets-are-minging/
- 3 Blue Flag Beaches for Wicklow this year https://wicklownews.net/2023/05/3-blue-flag-beaches-for-wicklow-this-year/
- Housing remains ‘largest stumbling block’ in Mid-West as full employment exacerbates demand: Across Limerick, just 43% of homes sold last year went to owner occupiers, with supply shortages posing a “serious risk” to businesses in the region https://www.irishexaminer.com/business/economy/arid-41145652.html
- Ireland’s New Rugby Museum Scores Win for Georgian Architecture Fans – The International Rugby Experience in Limerick gives supporters a chance to relish both in the history of the game and the Irish city’s architectural traditions. https://www.bloomberg.com/news/features/2023-05-27/how-architects-tackled-an-irish-rugby-museum-in-limerick
- “It is the height of political arrogance to take action of this scale without prior consultation, and it is tokenistic nonsense to suggest that they are willing to listen only after the decision has been made.” https://gript.ie/tokenistic-engagement-on-offaly-modular-homes-plan-is-arrogant-and-disrespectful-says-td/
- Laois maisonettes ‘in very bad state’ beside new social houses https://www.ireland-live.ie/news/laois-live/1176835/laois-maisonettes-in-very-bad-state-beside-new-social-houses.html
- Empty homes roadshow in Mayo to address the housing crisis https://www.con-telegraph.ie/2023/05/24/empty-homes-roadshow-in-mayo-to-address-the-housing-crisis/
- Last remaining property of Sisters of St Clare in Kenmare being sold: The 25-year-old convent, which sits on five acres, will be for community use in a move described as being in the true spirit of the much-loved nuns https://www.irishexaminer.com/news/munster/arid-41147245.html
CONSTRUCTION, MMC & DEVELOPMENT NEWS
- Construction’s Executive Interview: Meet the Waterford developer who survived Nama and vulture funds: Barry Monaghan is cementing his return to the property scene after a five-year stint in the state’s bad bank https://www.thetimes.co.uk/article/meet-the-waterford-developer-survived-nama-vulture-funds-9v9bvjf8q
- Financial institutions add their considerable muscle to the green economy – ESG now sits alongside considering the quality of underlying real estate and creditworthiness of borrowers when assessing loan applications https://www.businesspost.ie/property/financial-institutions-add-their-considerable-muscle-to-the-green-economy/
- Efforts lauded to encourage greater female participation in the construction sector. It comes as the Government is advancing the Construction Safety Licensing Bill 2023. https://connachttribune.ie/mairead-farrell-lauds-efforts-to-encourage-greater-female-participation-in-construction-sector/amp/
- Government to probe housing projects stalled due to land speculation https://www.irishexaminer.com/news/arid-41147878.html
- Housing officials to face grilling over regulation ‘emergency’: Department staff to face questions from Public Accounts Committee after building watchdog claimed it had been ‘understaffed since its inception’ https://www.businesspost.ie/news/housing-officials-to-face-grilling-over-regulation-emergency/
- Review finds reluctance among lenders to provide funds for apartment developments https://www.irishexaminer.com/news/arid-41147341.html
- Making construction less energy-intensive: There has been major innovation in the engineering sector that will make construction more sustainable, but there is still a way to go https://www.irishexaminer.com/business/technology/arid-41147629.html
- What more can be done to attract women into careers in engineering? With female levels of participation in the industry still low, Deanna O’Connor asks if enough is being done to encourage women https://www.irishexaminer.com/business/companies/arid-41148004.html
- Using ex-prisoners as workers to solve crisis in building sector ‘totally inadequate’ – Government struggling to offer solutions to labour shortages https://m.independent.ie/business/irish/using-ex-prisoners-as-workers-to-solve-crisis-in-building-sector-totally-inadequate/a1674849470.html
- New fire safety regs must account for #MMC: Dennis Keeley, chief fire officer for Dublin Fire Brigade, says traditional building systems have “undergone a vast amount of large scale testing which provides confidence and resilience” in the event of fires https://www.businesspost.ie/news/new-fire-safety-regs-must-account-for-modern-construction-methods-dublin-fire-brigade-chief/
- Fears target dates for construction and opening of new children’s hospital will be missed: Dáil spending watchdog PAC to query if there will be penalties imposed for late delivery of updated completion plan by main contractor https://www.irishtimes.com/politics/2023/05/25/fears-target-dates-for-construction-and-opening-of-new-childrens-hospital-will-be-missed/
- The value of the Comer brothers’ property portfolio grew by €50 million in 2022, with the pair now controlling more than €1.16 billion-worth of property in Ireland. https://www.businesspost.ie/news/comer-brothers-property-portfolio-now-worth-e1-16bn/
- Government closes in on deal with Johnny Ronan consortium for affordable homes at Poolbeg: The developer has been locked in negotiations with the Department of Housing and Dublin City Council to allow the first phase of the development to commence https://www.businesspost.ie/news/government-closes-in-on-deal-with-johnny-ronan-consortium-for-affordable-homes-at-poolbeg/
- Community group challenges permission for 432 homes in north Dublin: Local groups says it is concerned the scheme represents “significant over-development” of the land https://www.irishtimes.com/business/2023/05/25/community-group-challenges-permission-for-432-homes-in-north-dublin/
- Plans lodged for new seven storey hotel on Dublin city’s Camden Row: Plans have also been lodged for a 10 storey extension of the Clayton Hotel in Dublin 2. https://www.thejournal.ie/dublin-hotel-planning-6074433-May2023/
- Seven storey Stephen’s Green hotel overlooking Iveagh Gardens gets green light https://www.breakingnews.ie/amp/ireland/seven-storey-stephens-green-hotel-overlooking-iveagh-gardens-gets-green-light-1481257.html
- Plan approved for 245-bed ‘lean luxury’ hotel over Arnotts https://www.breakingnews.ie/amp/ireland/plan-approved-for-245-bed-lean-luxury-hotel-over-arnotts-1479722.html
- Elkstone partners with Harrison Street to develop more than 1,500 student accommodation beds: First development will be completed by September in Dublin’s Stoneybatter https://www.irishtimes.com/business/2023/05/25/elkstone-partners-with-harrison-street-to-develop-more-than-1500-student-accommodation-beds/
- New Naas estate names come under fire https://www.leinsterleader.ie/news/local-news/1173471/kildare-new-naas-estate-names-come-under-fire.html
- Cork Chamber: Housing and infrastructure need to keep city and region attractive to talent – Chamber president, Ronan Murray was speaking at the 204th Cork Chamber AGM at the Imperial Hotel this evening. https://www.echolive.ie/corknews/arid-41145205.html
- Plan for new homes at site of Cork city house that’s been derelict for years: The spot hasn’t been occupied in over 15 years https://www.corkbeo.ie/news/local-news/plan-new-homes-site-cork-26993668
- Green light for Midleton housing development as appeal is withdrawn: The majority of the proposed residential units will be houses, including eight detached, 172 semi-detached and 180 terraced houses https://www.irishexaminer.com/news/munster/arid-41145688.html
- PepsiCo Confirms €127m Expansion At Little Island Facility https://www.hospitalityireland.com/drinks/pepsico-confirms-e127m-expansion-at-little-island-facility-198668
- €25 million redevelopment approved for Limerick city school https://www.limerickpost.ie/2023/05/23/e25-million-redevelopment-approved-for-limerick-city-school/
- Galway ‘masterplan’ needed to tackle housing and transport crises https://connachttribune.ie/galway-masterplan-needed-to-tackle-housing-and-transport-crises/
- Green light for new whiskey distillery, shop and café in Conamara https://www.galwaydaily.com/news/green-light-for-new-whiskey-distillery-shop-and-cafe-in-conamara/
- Construction of new 96 bed-block at University Hospital Limerick fast-tracked https://www.limerickleader.ie/news/home/1178724/breaking-construction-of-new-96-bed-block-at-university-hospital-limerick-fast-tracked.html
- Ennis site with scope for mixed-use scheme expected to see offers in region of €4m: Holding on Clare Road extending to 14.2 acres occupies key location just 1.2km from Ennis town centre https://www.irishtimes.com/property/commercial-property/2023/05/24/ennis-site-with-scope-for-mixed-use-scheme-expected-to-see-offers-in-region-of-4m/
- 295 residential units along with a two-storey crèche facility proposed for Kildare town https://www.kildarenow.com/news/home/1176641/295-residential-units-along-with-a-two-storey-creche-facility-proposed-for-kildare-town.html
- Planning approval for five-star nursing home with sea views in Wexford https://m.independent.ie/regionals/wexford/wexford-district/planning-approval-for-five-star-nursing-home-with-sea-views-in-wexford/a1502533288.html
- Cork school links up with builder to provide apprenticeship opportunities for students: John Sisk & Son has agreed to take on two new apprentices from Mayfield Community School and provide them with a direct entry path to the company. https://www.echolive.ie/corknews/arid-41143414.html
- Third attempt to get approval for 442 unit Limerick housing scheme https://www.limerickpost.ie/2023/05/25/third-attempt-to-get-approval-for-442-unit-limerick-housing-scheme/
- Property Bridges remains committed to the retail peer-to-peer lending sector as it marks 6,000+ lenders and £60m+ of lending, made up of £34m from retail backers and £26m from institutional https://p2pfinancenews.co.uk/2023/05/22/property-bridges-committed-to-retail-p2p-market/
- A thousand euro worth of tools stolen from a Kilkenny building site: It happened at a site on the Tullaroan Road last Friday. https://kclr96fm.com/a-thousand-euro-worth-of-tools-stolen-from-a-kilkenny-building-site/
- Portlaoise train station social homes hit by delays https://www.ireland-live.ie/news/laois-live/1179812/portlaoise-train-station-social-homes-hit-by-delays.html
- Louth land with planning in place for up to 72 new homes seeking €2.25m: Castlebellingham site has approval for development of both a lower- or higher-density residential scheme https://www.irishtimes.com/property/commercial-property/2023/05/24/louth-land-with-planning-in-place-for-up-to-72-new-homes-seeking-225m/
- Planning sought for housing development in Roscommon https://www.shannonside.ie/news/planning-sought-for-housing-development-in-roscommon-224247
- CLARE COUNTY COUNCIL WILL only build two houses this year but remain on track to exceed social housing targets. https://www.clareecho.ie/council-will-build-only-two-homes-in-2023/
- Stewart Construction win Project of the Year Winners for Central Plaza project https://www.advertiser.ie/galway/article/135679/stewart-construction-win-project-of-the-year-winners-for-central-plaza-project
- Building a bridge to support Ireland’s needs: Edel Corrigan examines how Sisk meets Ireland’s societal and economic needs via transport infrastructure https://www.irishexaminer.com/business/technology/arid-41148007.html
- Get up to speed on embodied carbon now, say leading developers – Grosvenor, Lendlease, Stanhope, L&G, Mace, British Land, SEGRO, Berkeley and Igloo are demanding architects get to grips with construction’s carbon emissions https://www.architectsjournal.co.uk/news/get-up-to-speed-on-embodied-carbon-now-say-leading-developers
- 700 new jobs planned as H&MV opens Limerick base https://www.rte.ie/news/business/2023/0526/1385703-limerick-jobs/
- Athlone construction site set on fire as gardai appeal for witnesses: Two excavators and a small digger were significantly damaged in the blaze, which happened in the Monksland Industrial Estate in Athlone late on Thursday, May 18. https://www.irishmirror.ie/news/irish-news/athlone-construction-site-set-fire-30089061.amp
PROPTECH, ESG & CONSTRUCTION INNOVATION
- Proptech Ireland is updating the database of 2023 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech or MMC business sit? Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *https://prop-tech.ie/register/ * and email product or service details to hello@prop-tech.ie
- Proptech Ireland: Ireland’s CONSTRUCTION and REAL ESTATE ESG technologies resource hub. Confused about how and where to start on your ESG journey? Contact us 👉https://prop-tech.ie
- Enterprise Ireland’s Women in Business strategy has set ambitious targets, including doubling the number of women-led companies in the export market by 2025 https://m.independent.ie/business/irish/exercising-their-intellectual-property-rights-is-critical-if-women-entrepreneurs-want-to-protect-and-capitalise-on-their-brands/a1237438607.html This is in response to a report showing that Ireland lags in number of women-led scale-ups: New report shows there are currently over 600 scale-ups founded or co-founded by women across 15 European countries https://www.businesspost.ie/tech/ireland-lags-in-number-of-women-led-scale-ups/
- Buying into the future of the planet – Climate tech is an area of keen interest to venture capital firms https://www.businesspost.ie/connected/buying-into-the-future-of-the-planet/
- Irish technology company Bynaric has launched a B2B software platform, FairSelect, for processing applications for rental accommodation https://businessplus.ie/tech/fairselect-bynaric-post/
- Construction Tendering Tech Specialist EstimateOne Launches in the UK and Ireland https://techbuzzireland.com/2023/05/25/construction-tendering-tech-specialist-estimateone-launches-in-the-uk-and-ireland/
- Hundreds of climate tech companies slipping through the state support net https://irishtechnews.ie/hundreds-of-climate-tech-companies-slipping-through-the-state-support-net/
- The untapped tech potential in property https://businesscloud.co.uk/opinion/the-untapped-tech-potential-in-property-construction/
- Construction industry needs to embrace digitalisation – Digitalisation provides a platform for quick and seamless collaboration and communication within project teams https://www.irishexaminer.com/business/technology/arid-41147623.html
- Economic headwinds accelerate digital tech spend in construction: The construction sector is seeing increased digital transformation as economic volatility prompts further tech investment. https://www.verdict.co.uk/economic-headwinds-accelerate-digital-tech-spend-in-construction/
- Scaling sustainable construction materials: Pi Labs’ investment in Tangible: “We are happy to share that we have invested in Tangible’s $3 million seed round, which was led by Foundamental, along with Fifty Years, Redstone, Asymmetric and Deco Ventures…” https://medium.com/pi-labs-notes/scaling-up-sustainable-construction-materials-pi-labs-investment-in-tangible-3be3262ba27f
- Proptech firm can work with investors to help transform vacant unused properties: WBM Property Investments is also helping landlords improve their Energy Performance Certificate ratings https://www.business-live.co.uk/partners/proptech-firm-can-work-investors-25243812
- Proptech Setpoint acquires Resolute in fintech lending drive https://www.fintechfutures.com/2023/05/us-proptech-setpoint-acquires-resolute-to-revolutionise-fintech-lending/
- The customer data pitfalls to avoid when using AR https://www.drapersonline.com/insight/the-customer-data-pitfalls-to-avoid-when-using-ar
- Proptech Companies Equiem Acquires Workplace Management Vendor spaceOS https://www.globest.com/2023/05/26/proptech-companies-equiem-acquires-workplace-management-vendor-spaceos/?amp=1
- Proptech and Real Estate Document Reading: It’s Complicated: AI satisfies more of the industry’s demand for accurate and timely data abstraction — but humans are for now still essential https://commercialobserver.com/2023/05/proptech-real-estate-document-abstraction/
- From Idea to Acquisition: Scaling Proptech Solutions with Dmitriy Aleksandrov from Homsters https://therecursive.com/from-idea-to-acquisition-scaling-proptech-solutions-with-dmitriy-aleksandrov-from-homsters/
ENERGY, CLIMATE & ENVIRONMENT
- PLANNING permission has been granted by Mayo County Council for Ireland’s first multi-million euro green hydrogen production facility, to be located in Croaghaun West, Srahnakilly, near Bellacorrick. https://www.con-telegraph.ie/2023/05/27/planning-granted-for-green-hydrogen-production-facility-in-mayo/
- New retrofitting skills centre in Cork aims to train 1,500 learners annually – The centre’s opening comes following a report that said Ireland needed to scale up its retrofitting targets to offset construction emissions. https://www.siliconrepublic.com/careers/retrofitting-centre-skills-cork-programmes
- Offshore wind farm technology is not particularly green when its ‘whole of life’ is considered: Decommissioned turbine blades are usually disposed of in a landfill or incinerated https://www.irishtimes.com/business/innovation/2023/05/25/coalition-must-weight-costs-and-responsibilities-of-irish-offshore-wind-projects/
- How to improve your home’s energy rating on the cheap without buying a heat pump or solar panels https://m.independent.ie/business/personal-finance/how-to-improve-your-homes-energy-rating-on-the-cheap-without-buying-a-heat-pump-or-solar-panels/a1580771999.html
RESIDENTIAL PROPERTY NEWS (including PRS)
- Typical income of first-time buyers of new homes in State above €90,000; Banking and Payments Federation Ireland notes affordability gap in Irish property market via report https://www.irishtimes.com/business/2023/05/24/typical-income-of-first-time-buyers-of-new-homes-in-state-above-90000/
- Home prices rose faster than mortgage values in second half of last year https://www.rte.ie/news/business/2023/0524/1385261-home-prices-rise-faster-than-mortgage-values/
- Rising house prices make borrowers more prudent, report shows- Some of the figures in the BPFI report did not show the full impact of ECB monetary policy over the last year on rates paid by new borrowers https://www.irishexaminer.com/business/economy/arid-41145889.html
- Are solar panels a good investment if we’re going to move house in the coming years? Property Clinic: Is improved energy efficiency reflected in the sale price of a property? https://www.irishtimes.com/property/residential/2023/05/24/are-solar-panels-a-good-investment-if-were-going-to-move-house-in-the-coming-years/
- Just a third of 10,000 retrofits delivered B2 or higher energy rating https://www.irishexaminer.com/news/arid-41146546.html
- ‘Dad would be surprised and disappointed at current state of housing market’: The house of Ireland’s biggest home builder, Dan McInerney is on market for €2.45m. His son Mark recalls his father’s career, and family gatherings at this Foxrock home https://m.independent.ie/life/home-garden/dad-would-be-surprised-and-disappointed-at-current-state-of-housing-market/a307184008.html
- Bantry €425k farmhouse rescued from dereliction is a lesson in how to create a home: Do It Yourself – Ray Cain worked with steel, but learned woodcraft,following his father’s maxim “there’s nothing you can not do.” https://www.irishexaminer.com/property/residential/arid-41143990.html
- Fewer than 10% of Kerry houses have top Building Energy Rating https://www.radiokerry.ie/news/less-than-10-of-kerry-houses-have-top-building-energy-rating-331684
- Surge in overseas investors renovating Georgian properties in Kilkenny https://www.kilkennypeople.ie/news/property/1178178/surge-in-overseas-investors-renovating-georgian-properties-in-kilkenny.html
- Here’s a controversial one that many in the industry will disagree with: John Walsh: The government won’t do it, but approved housing bodies should be scrapped https://www.businesspost.ie/analysis-opinion/john-walsh-the-government-wont-do-it-but-approved-housing-bodies-should-be-scrapped/
- €7.75m for 535ac Kilkenny estate with period mansion, four yards and a serious farming pedigree: Kilree comes with a six-bedroom house and an interesting history https://m.independent.ie/farming/farm-property/775m-for-535ac-kilkenny-estate-with-period-mansion-four-yards-and-a-serious-farming-pedigree/a1048765247.html
- Wexford developer launches new development of 32 ‘modern family homes’ starting at €245,000 https://m.independent.ie/regionals/wexford/wexford-district/wexford-developer-launches-new-development-of-32-modern-family-homes-starting-at-245000/a508443524.html
- Your Questions Answered: ‘Can I get home insurance for a property with a flat roof extension?’ https://m.independent.ie/business/personal-finance/your-questions-answered-can-i-get-home-insurance-for-a-property-with-a-flat-roof-extension/a1618481346.html
- Price of Clare Island Lighthouse dives by nearly 40% as buyer fails to appear on the horizon: Blue-Book guest house with views of Clew Bay drops asking price in bid for buyer https://www.irishtimes.com/property/residential/2023/05/25/price-of-clare-island-lighthouse-dives-by-nearly-40-as-buyer-fails-to-appear-on-the-horizon/
- Inside an interior designer’s home: ‘The day I stop being creative in my own home is the day I die’: Colour takes centre stage at the north Dublin home of fashion journalist turned interior designer Alannah Monks https://www.irishtimes.com/property/interiors/2023/05/13/the-day-i-stop-being-creative-in-my-own-home-is-the-day-i-die/
COMMERCIAL PROPERTY NEWS
- If your building has good bones, don’t swap it for a younger model – Demolition and rebuild should be the very last option with commercial buildings past their prime, as many can be cleverly upgraded or repurposed https://www.businesspost.ie/property/if-your-building-has-good-bones-dont-swap-it-for-a-younger-model/
- Irish Water begins search for new Dublin headquarters: Uisce Éireann – as it is officially known – seeking space for up to 800 workers in the capital https://www.irishtimes.com/property/commercial-property/2023/05/24/irish-water-begins-search-for-new-dublin-headquarters/
- McKillen jnr pulls out of St Stephen’s Green block deals: Oakmount to pursue scaled-back plan for high-end hotel at Topshop’s former flagship premises https://www.irishtimes.com/property/commercial-property/2023/05/24/mckillen-jnr-pulls-out-of-st-stephens-green-block-deals/
- Davy Real Estate is nearing a deal to buy the Harcourt Developments shopping centre portfolio for €75 million, and finally end a protracted sales process.https://www.thetimes.co.uk/article/davy-closes-deal-harcourt-ireland-six-malls-zr9qkd0l7
- Apex Fund Services signs for extra office space at Irish Life Centre: Apex Fund Services is a global and independent fund administration company with 35 offices worldwide https://www.irishtimes.com/property/commercial-property/2023/05/24/apex-fund-services-signs-for-extra-office-space-at-irish-life-centre/
- French investor pays €1.425m for Dublin 8 Tesco premises: Supermarket giant has occupied premises on Tyrconnell Road in Inchicore since October 2007 https://www.irishtimes.com/property/commercial-property/2023/05/24/french-investor-pays-1425m-for-dublin-8-tesco-express-premises/
- Nesta inks deal with M7 Real Estate at Churchtown Business Park: Irish-owned and family-run self-storage provider signs long-term lease for sixth Dublin premises https://www.irishtimes.com/property/commercial-property/2023/05/24/nesta-inks-deal-with-m7-real-estate-at-churchtown-business-park/
- Dublin Port’s pumphouse to become the city’s newest venue https://lovindublin.com/whats-on/dublin-port-open-air-raves
- Winklevoss twins name Dublin as European HQ for Gemini crypto exchange: Company founded by Cameron and Tyler Winklevoss expects to ramp up headcount from current low levels https://www.irishtimes.com/business/financial-services/2023/05/25/crypto-exchange-gemini-names-dublin-as-european-hq/
- Elverys tycoon leads investors in €12m purchase of Cork’s former Debenhams shop: John Staunton among consortium that has acquired the landmark property at 12-17 St Patrick’s Street https://www.irishtimes.com/property/commercial-property/2023/05/23/elverys-tycoon-leads-investors-in-12m-purchase-of-corks-former-debenhams-store/ Also: Elverys addresses elephant in the room after €12m Roches Stores Cork swoop: Sports chain to add new tenants and user profile and will take just 25/30% of the 160,000 sq ft building for its own retail use https://www.irishexaminer.com/property/commercial/arid-41146666.html
- Mango set to start overhaul of former Quills store in Cork City centre: The Spanish fashion brand is hoping to have the store open after the summer, creating 10 jobs https://www.irishexaminer.com/property/commercial/arid-41146846.html
- Press Up Group invite others to step into space left by Wagamama in Cork City: Restaurant space is to the rear of Queens Old Castle, near new student accommodation schemes https://www.irishexaminer.com/property/commercial/arid-41146690.html
- It’s the berries: €2m Rathcooney farm is ripe for the picking: Generations of Corkonians will recall childhood early morning starts picking strawberries at Newenhman family’s fruit and veg farm https://www.irishexaminer.com/property/residential/arid-41149105.html
- Galway shopping centre opens new ‘big name’ store as owners ‘thrilled’: They have officially opened their doors after months of speculation https://www.galwaybeo.ie/news/galway-news/galway-shopping-centre-opens-new-8459548
- BREAKING: Jysk granted planning permission for outlet in Kilkenny https://www.kilkennypeople.ie/news/kilkenny-city/1177317/breaking-jysk-granted-planning-permission-for-outlet-in-kilkenny.html
- Landmark Wexford property Slaney Manor to open as a migrant centre under new ownership https://m.independent.ie/regionals/wexford/wexford-district/landmark-wexford-property-slaney-manor-to-open-as-a-migrant-centre-under-new-ownership/a2003826466.html
- Dangerous structure notice served on owners of former hotel in Tipperary – Once thriving Clonmel hotel closed more than 17 years ago https://www.ireland-live.ie/news/nenagh-live/1181488/dangerous-structure-notice-served-on-owners-of-former-hotel-in-tipperary.html
- Laois County Council launches Vacant Commercial Property Incentive Scheme in Portarlington https://www.laoistoday.ie/2023/05/22/laois-county-council-launches-vacant-commercial-property-incentive-scheme-in-portarlington/
INTERNATIONAL PROPERTY NEWS
- Around a third (34%) of new homes across England and Wales are estimated to have been sold in advance of being built last year, according to an estate agent. This proportion was down from a peak of nearly half (46%) in 2016 https://www.ireland-live.ie/news/personal-finance/1176151/off-plan-property-sales-slide-amid-squeeze-on-investors-index.html
- UK construction activity April 2023: Community & amenity https://www.constructionnews.co.uk/cn-intelligence/uk-construction-activity-april-2023-community-amenity-23-05-2023/
- Refurbishments of office buildings in central London have risen to a record high, but the volume of new space being developed continues to lag pre-pandemic levels. A biannual crane survey by Deloitte has found that 37 schemes overhauling existing offices were started over the half-year to the end of March, the highest number since the accountancy group started tracking activity in 2005. About 3.2 million sq ft of space is set to be improved. https://www.thetimes.co.uk/article/more-office-blocks-in-central-london-being-refurbished-ln77f79t5
- Peter Cook has questioned the buildability of Saudi Arabia’s NEOM ‘smart city’ development The Line – the controversial 170km desert project he is employed to work on https://www.architectsjournal.co.uk/news/the-line-architect-peter-cook-questions-saudi-desert-citys-buildability
- The US housing market enters into a pivotal stretch https://fortune.com/2023/05/22/housing-market-could-once-again-face-7-percent-mortgage-rates/
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/