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:
- Innovating PR: Amplify your press release with audio https://propertydistrict.ie/innovating-pr-amplify-your-press-release-with-audio/
- Ronan Lyons: The end of the long housing boom? “I believe that the Irish housing system is characterised by a chronic and worsening shortage, in particular of urban homes and homes for smaller households…” https://thecurrency.news/articles/133136/ronan-lyons-the-end-of-the-long-housing-boom/
- NIMBY for cash: The building of 500 new houses in the Dublin commuter belt is being delayed by an adjoining landowner demanding €6m to drop objections https://m.independent.ie/irish-news/courts/builder-claims-landowner-wants-6m-to-drop-housing-planning-appeal/a681940743.html
- Staff at An Bord Pleanála have been told the organisation’s name change will happen within the next few weeks, in a move likely to anger workers at the beleaguered planning body – An Coimisiún Pleanála https://www.irishexaminer.com/news/arid-41265403.html
- Maternity hospital renting houses for staff to help retain new workers moving to Ireland https://m.independent.ie/irish-news/maternity-hospital-renting-houses-for-staff-to-help-retain-new-workers-moving-to-ireland/a1113976097.html
- Revelations that Peter McVerry Trust bought several apartments developed by former longtime auditor ‘very serious’, Dáil told – Minister of State says he will be raising the matter with Minister for Housing Darragh O’Brien https://www.irishtimes.com/politics/oireachtas/2023/11/09/revelations-that-peter-mcverry-trust-bought-several-apartments-developed-by-former-longtime-auditor-very-serious-dail-told/
- An upsurge in data centre construction in emerging markets is driving up costs, according to research from global professional services company Turner & Townsend https://www.civilandconstruction.ie/2023/11/06/data-centre-sector-eyes-key-emerging-markets-to-deliver-on-soaring-demand/
- Contractors’ Mortgage Brokerage opens in Cork: Mortgage Navigators, part of the Contracting PLUS group, is expected to create 50 new jobs. https://www.echolive.ie/corknews/arid-41262544.html
- OPW in talks with council about measures to prevent further flooding in Midleton – Measures to be put in place pending completion of ‘complex’ €50m flood relief scheme for town at risk of flooding from four separate sources https://www.irishtimes.com/ireland/2023/11/07/opw-in-talks-with-cork-county-council-about-interim-measures-to-prevent-further-flooding-in-midleton/
- John Walsh: If Sinn Féin scraps the property tax, it would be act of monumental folly – With corporate tax on shaky ground, a broad and stable tax base is more important than ever https://www.businesspost.ie/analysis-opinion/john-walsh-if-sinn-fein-scraps-the-property-tax-it-would-be-act-of-monumental-folly/
- Who Really Owns Ireland? by Matt Cooper: Too sprawling to stand up properly: Matt Cooper bites off more than he can chew in this account of Irish land and property ownership https://www.irishtimes.com/culture/books/review/2023/11/09/who-really-owns-ireland-by-matt-cooper-too-sprawling-to-stand-up-properly/?
- Magnier family dispute over Tipperary land purchase deal admitted to Commercial Court: John Magnier, son John Paul and daughter Kate Wachman, claim the owners of Barne Estate in Clonmel intend to repudiate an agreement to sell the property to Mr Magnier https://www.irishexaminer.com/news/courtandcrime/arid-41263783.html
- Inishowen Rivers Trust (IRT) recently hosted the New Zealand ambassador at sites in Carndonagh and Clonmany to better understand how the IRTs natural flood management (NFM) projects in the area can potentially help New Zealand with its flooding https://www.donegaldaily.com/2023/11/08/new-zealand-ambassador-conducts-fact-finding-mission-in-inishowen/amp/
- Wicklow woman wins award at Irish Apprentice of the Year https://m.independent.ie/regionals/wicklow/west-wicklow-news/wicklow-woman-wins-award-at-irish-apprentice-of-the-year/a799818623.html
- Why are subsea cables off Ireland causing continental concerns? https://www.rte.ie/news/upfront/2023/1110/1415821-why-are-subsea-cables-off-ireland-causing-continental-concerns/
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
This week on iPropertyRadio…
#Property Roundup
On #PropertyRoundup we are joined by Harry Sothern, Director at REA Sothern to get an update on the Carlow property market update and explore some of the current opportunities that exist.
We also take a look at the dynamics of who is buying and selling right now, how the rental market is faring and what are the current employment opportunities for house hunters considering settling down in the area. Browse sohttps://www.linkedin.com/company/rea-sothern/me of the properties available through REA Sothern 👉https://www.realestatealliance.ie/rea-sothern
*Property Roundup is sponsored by Daft.ie, Ireland’s most visited property website
*Watch/ listen back: https://ipropertyradio.com/property-roundup/
#Proptech Hot Seat
In the Proptech Hot Seat is Fred Jones, Chief Operating Officer with proptech homebuyer UPSTIX. Fred joins host Carol Tallon to discuss how UPSTIX uses AI to give valuations on homes. He gives an overview of the benefits of the platform for those who would take a reduction in price in favour of speed. Listen back to the full interview to hear about the trends in the market at the moment.
Proptech Hot seat is sponsored by Proptech Ireland, the hub for innovators, investors and industry leaders https://prop-tech.ie/
Watch/ listen back: https://ipropertyradio.com/proptech-hot-seat/
#BreakingGround
On #BreakingGround host Carol Tallon is joined by Rob Fox, CEO of Supplyo to talk about construction technology trends and how technology can help contractors identify, recruit and build relationships with their supply chain in a seamless way. Learn more about Supplyo here- https://www.supplyo.io/
Rob also breaks down what a technology stack looks like for the typical construction contractor – which might be helpful for identifying gaps – and shows how the best tech solutions integrate for optimal efficiency. Critically, he also shares insights into new ESG reporting obligations coming down the track for construction firms – is the industry ready for these?
Breaking Ground is sponsored by PLACEengage – Your Virtual Town Hall, a data-driven platform for more successful public consultation and community engagement for your next development project https://placeengage.com/
*Watch back and listen back: https://ipropertyradio.com/breaking-ground/
Watch back and listen back to all shows at: https://ipropertyradio.com/shows/
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/
- 10th National Business Post Property Summit: I look forward to hosting a fireside chat with placemaking champion, Alison (Ali) Harvey, discussing ways to revitalise our town centres – full agenda at: https://propertysummit.ie/2023-agenda/
- Vision to make Dublin world’s first autism-friendly city announced: The Council is participating in the AsIAm Autism-Friendly Communities Awards Programme and will launch a three-year plan to make the capital an autism-friendly city in January https://www.dublinlive.ie/news/dublin-news/vision-make-dublin-worlds-first-28052905.amp
- Vacant property acquisitions scheme delivers just 900 units: When it was established in 2017, the Housing Agency Acquisitions fund had a target of acquiring 1,600 units over four years https://www.irishtimes.com/business/2023/11/09/governments-vacant-property-scheme-delivers-just-900-units/
- Land Development Agency homes in Cork City will not be ready until early 2025 – Delay to delivery of 265 new homes earmarked for the former St Kevin’s Hospital site https://www.irishexaminer.com/news/munster/arid-41264569.html
- Exhibition focusing on resilience of West Cork islanders to open this weekend https://www.echolive.ie/corknews/arid-41267350.html
- Marina Promenade project will be ‘jewel of the city’s pedestrianisation programme’: Cork City Council chief executive Ann Doherty said the plan solidifies the Council’s vision for Cork Docklands as a sustainable, inclusive, and community-driven location https://www.echolive.ie/corknews/arid-41267521.html
- Number of significant changes to BusConnects plans in Cork: Approximately 4,400 submissions were made by the public during the second round of consultation. https://www.echolive.ie/corknews/arid-41264167.html
- Final section of €280m Macroom bypass opened https://www.rte.ie/news/munster/2023/1106/1415004-macroom-bypass/
- Concerned residents to hold public meeting on plans for Portumna Forest Park https://galwaybayfm.ie/galway-bay-fm-news-desk/concerned-residents-to-hold-public-meeting-on-plans-for-portumna-forest-park/
- Wicklow TD receives 1,853 signatories to petition opposing closure of Bray exit to facilitate N11 bus corridor https://m.independent.ie/regionals/wicklow/bray-news/wicklow-td-receives-1853-signatories-to-petition-opposing-closure-of-bray-exit-to-facilitate-n11-bus-corridor/a1446514672.html
- A HOUSING body is in early discussions with Mayo County Council about potentially delivering 75 new homes in Castlebar. https://www.con-telegraph.ie/2023/11/07/talks-open-on-potentially-delivering-75-new-homes-in-mayos-county-town/
- Plans to turn former Limerick parochial house into ‘community facility’ https://www.limerickleader.ie/news/home/1343275/plans-to-turn-former-limerick-parochial-house-into-community-facility.html
- Construction completed on Longford Skate Park https://www.ireland-live.ie/news/longford-live/1346488/construction-completed-on-longford-skate-park.html
- Castlebar: Transforming Mayo’s county town into a thriving hub https://www.con-telegraph.ie/2023/11/11/transforming-mayos-county-town-into-a-thriving-hub/
- Points continue to rise but Tipperary village seeks more help with Tidy Towns https://www.tipperarylive.ie/news/home/1344418/points-continue-to-rise-but-tipperary-village-seeks-more-help-with-tidy-towns.html
ISSUES IMPACTING RURAL IRELAND
- RURAL IRELAND: There is a new group being set up for housing developers, property investors and estate agents trying or intending to deliver new homes, businesses or important infrastructure in rural Ireland – email in confidence to carol@propertydistrict.ie.
- Rural Ireland is being hammered left, right and centre… Cork TD Michael Collins to lead new political party: Limerick County TD Richard O’Donoghue will serve as the general secretary of the new Independent Ireland party https://www.irishexaminer.com/news/politics/arid-41266825.html
- Waterford Networking Event to showcase Rural Tourism https://waterfordcouncilnews.com/2023/11/10/waterford-networking-event-to-showcase-rural-tourism/amp/.
- Agriculture and rural affairs will be the focus of Fine Gael’s ‘Special Conference’ which will take place in Kildare next week https://www.agriland.ie/farming-news/farmers-to-have-their-say-at-special-fine-gael-agri-conference/
- Planning set to be hot topic at wind farmer’s conference in Kilkenny https://www.kilkennypeople.ie/news/home/1343426/planning-set-to-be-hot-topic-at-wind-farmers-conference-in-kilkenny.html
- Minister for Rural and Community Development, Heather Humphreys TD, visited Castleblayney, Co Monaghan, to officially open the new Castleblayney Library which was funded through the Rural Regeneration and Development Fund (RRDF) https://www.gov.ie/en/press-release/d8d62-our-rural-future-minister-humphreys-opens-the-castleblayney-library-project/
CONSTRUCTION, MMC & DEVELOPMENT NEWS
- Garda fraud squad investigates allegations of ‘extortion’ over housing objections – Dublin development at centre of ‘go away money’ probe https://m.independent.ie/irish-news/garda-fraud-squad-investigates-allegations-of-extortion-over-housing-objections/a742003116.html
- Ireland urged to raise demo project tax to 23% https://www.construction-europe.com/news/ireland-urged-to-raise-demo-project-tax-to-23/8032847.article
- TD raises concern over alleged public procurement bid-rigging https://www.con-telegraph.ie/2023/11/07/mayo-td-raises-concern-over-alleged-public-procurement-bid-rigging/
- Why is ventilation of new-builds not adequately covered by regulations?: Property Clinic: ‘A-rated new-builds cannot work as a genuine A-rated house because the windows cannot be kept closed’ https://www.irishtimes.com/property/residential/2023/10/31/why-is-ventilation-of-new-builds-not-adequately-covered-by-regulations/
- Finalists for Cork Better Building Awards ‘will be keenly debated in the coming days’: The winners will be announced next week. https://www.echolive.ie/corknews/arid-41264704.html
- Harris praises ‘remarkable’ construction course helping people from inner city: Minister for Higher Education says more courses are needed if housing targets are to be met https://www.irishtimes.com/ireland/2023/11/10/harris-praises-remarkable-construction-course-helping-people-from-inner-city/
- The Integration Minister says “final works” on underway on two modular home sites for refugees in the midlands: As many as 200 people fleeing the war in Ukraine will be housed in 62 units in Tullamore, while 42 homes are being erected in Rathdowney https://www.midlands103.com/news/midlands-news/final-works-underway-on-modular-home-sites-in-the-midlands/
- Lower standard build-to-rent system to end in Dublin – Council to city change development plan to stop construction of apartments below minimum size https://www.irishtimes.com/ireland/housing-planning/2023/11/05/lower-standard-build-to-rent-system-to-end-in-dublin/
- Timeline For National Children’s Hospital Becoming Ever Clearer https://www.nova.ie/timeline-for-national-childrens-hospital-becoming-ever-clearer-237964/
- Leinster apprentices shine bright at the National Apprentice of the Year Awards: Four apprentices from Kildare, Wicklow, Wexford, and Laois were celebrated at this years awards https://m.independent.ie/regionals/wexford/news/leinster-apprentices-shine-bright-at-the-national-apprentice-of-the-year-awards/a1918604469.html
- Hines confirmed that JR proceedings challenging planning permissions for large-scale residential developments on both the Bailey Gibson and Player Wills sites have concluded, clearing the way for construction – three years after planning was first granted https://m.independent.ie/business/irish/judicial-review-challenge-to-major-housing-schemes-off-dublins-south-circular-rd-are-dropped/a1443665218.html Also: Planning battles changed Hines’ investment approach here, says company’s Ireland chief: Developer gets go-ahead to build 1,400 apartments on former Player Wills and Bailey Gibson sites in Dublin after three-year legal fight https://www.businesspost.ie/news/planning-battles-changed-hines-investment-approach-here-says-companys-ireland-chief/
- Two new city centre hotels greenlit by Dublin City Council: Abbey Street Upper and Great Strand Street will have new hotels and retail units https://www.dublinlive.ie/news/dublin-news/two-new-city-centre-hotels-28066934
- Council rejects plans for site of former Unicorn restaurant on Dublin’s Merrion Row https://www.breakingnews.ie/ireland/council-rejects-plans-for-site-of-former-unicorn-restaurant-on-dublins-merrion-row-1548575.html
- Smithfield eight-storey apartments rejected due to height and impact on pub https://m.independent.ie/business/irish/smithfield-eight-storey-apartments-rejected-due-to-height-and-impact-on-pub/a1729700800.html
- Watch as Cork Kent Station landmark knocked to make way for major rail development: The signal box has been a familiar sight for commuters coming into Cork for nearly 80 years https://www.corkbeo.ie/news/local-news/watch-cork-kent-station-landmark-28049322
- Planning approved for Cork city apartment complex that will cater to singles and families: Blackpool is expecting a bit of a facelift, as the council grants permission for 18 duplex apartments https://www.corkbeo.ie/news/local-news/planning-approved-cork-city-apartment-28077886
- Cork’s 187-bed hotel on Morrison’s Island to premiere in January: Newly developed flood barriers on the site “did their job” during recent weather events https://www.irishexaminer.com/property/commercial/arid-41265616.html
- Fastest growing Galway town getting another new housing estate as plans approved https://www.galwaybeo.ie/news/galway-news/fastest-growing-galway-town-getting-8888385
- Planning approval for Oranhill residential development https://www.galwaydaily.com/news/housing/planning-approval-for-oranhill-residential-development/
- Government approves purchase of Waterford Crystal site for student housing: The South East Technological University will now sign final contracts to buy 20.3 acres of the 37-acre site https://www.irishexaminer.com/news/munster/arid-41265892.html
- Kilkenny CC is seeking tenders for multi-supplier framework for the provision of design and build dwelling Type Three projects valued €5,000,000-€18,000,000 including associated works for use by Kilkenny, Carlow, Tipperary, Waterford, Wexford and Wicklow https://www.carlowlive.ie/news/home/1345196/council-seeking-tenders-for-multiple-suppliers-for-residential-projects.html
- Planning granted for 245 unit residential development in Mullingar https://www.westmeathexaminer.ie/2023/11/08/planning-granted-for-245-unit-residential-development-in-mullingar/
- Seven new homes are being planned in the Dunlavin area: A planning application was submitted to Wicklow County Council by DL Residential Properties Limited. The plans include the proposed partial demolition of an existing bungalow on Kilcullen Street. https://www.ireland-live.ie/news/kildare-now/1342898/latest-plan-to-partially-demolish-bungalow-to-make-way-for-new-homes.html
- Cavan shop lodges planning for new extension https://www.northernsound.ie/news/cavan-shop-lodges-planning-for-new-extension-225402
- Permission granted for south Longford school https://www.ireland-live.ie/news/longford-live/1343766/permission-granted-for-south-longford-school.html
- Minister gives backing to local centre for apprenticeships https://www.shannonside.ie/news/minister-gives-backing-to-local-centre-for-apprenticeships-232291
- CSO reveals 188 new homes built in Sligo in first nine months of the year https://m.independent.ie/regionals/sligo/news/cso-reveals-188-new-homes-built-in-sligo-in-first-nine-months-of-the-year/a926387033.html
- New project, which looks to accelerate the uptake of bio-based products by companies in the packaging, construction, textiles and agriculture sectors, has been awarded funding by InterTrade Ireland https://m.independent.ie/business/irish/new-project-promoting-the-use-of-bio-based-products-in-ireland-is-awarded-funding/a1889141279.html
- Kerry Airport applies for planning for new aircraft building https://www.radiokerry.ie/news/kerry-airport-applies-for-planning-for-new-aircraft-building-355238
- Famed five-star Kerry hotel gets planning permission for extension: The Aghadoe Heights Hotel in Killarney has been granted permission by Kerry County Council for the provision of a new four-storey extension to its rear https://www.irishexaminer.com/property/developmentconstruction/arid-41265643.html
- Sligo school asked by Department how its new classrooms were coming along even though not a block had been laid https://m.independent.ie/regionals/sligo/news/sligo-school-asked-by-department-how-its-new-classrooms-were-coming-along-even-though-not-a-block-had-been-laid/a1654534585.html
- Planning refused for Donegal Town housing development: The Wilsons Creek Residents Association lodged an objection to the proposed development, raising serious concerns over sewage https://www.donegallive.ie/news/local-news/1343640/planning-refused-for-donegal-town-housing-development.html
- Kingspan falls most since April amid sales slowdown – Insulation maker shares drop 5.3 per cent even as it expects record full-year profit https://www.irishtimes.com/business/2023/11/06/kingspan-falls-most-since-april-amid-sales-slowdown/
- ATU Galway student named “Innovative Student Engineer of the Year” https://galwaybayfm.ie/galway-bay-fm-news-desk/atu-galway-student-named-innovative-student-engineer-of-the-year/
- Kirby Group Engineering has announced five winners of its third level bursary programme https://www.ilovelimerick.ie/kirby-bursary-programme/
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
- Tom Maguire on tax: Blessed relief for angel investors – Proposed relief in the Finance Bill could bring about a reduced rate of 16 per to 18 per cent on capital gains tax https://www.businesspost.ie/news-focus/tom-maguire-on-tax-blessed-relief-for-angel-investors/
- Technology investment in the built environment and the path to net zero https://www.patrizia.ag/en/real-insights/making-an-impact/technology-investment-in-the-built-environment-and-the-path-to-net-zero/
- Four ways technology can help you comply with the Building Safety Act https://www.newcivilengineer.com/opinion/four-ways-technology-can-help-you-comply-with-the-building-safety-act-10-11-2023/
- AI video PropTech Fyma raises £1.7m https://businesscloud.co.uk/news/ai-video-proptech-fyma-raises-1-7m/
- Hull-based property technology business that helps owners of high-rise buildings meet new safety rules has raised a further £750,000 from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund. https://www.insidermedia.com/news/yorkshire/proptech-firm-secures-further-npif-investment
- Data Drives CBRE Tech Leader Sandeep Davé: The brokerage giant’s chief digital and technology officers sees a near term where technology becomes a big part of companywide decisions https://commercialobserver.com/2023/11/cbre-tech-sandeep-dave/
- Proptech startup Zeus Living, which was backed by Airbnb, reportedly shuts down https://techcrunch.com/2023/11/08/proptech-startup-zeus-living-which-was-backed-by-airbnb-reportedly-shuts-down/amp/
ENERGY, CLIMATE & ENVIRONMENT
- Climate change: The great contradiction in Ireland’s response to a warming world – Despite progressive climate policies and impressive renewable energy use, why do we rank 21st out of 27 countries on climate change? https://www.irishtimes.com/environment/climate-crisis/2023/11/06/climate-change-the-great-contradiction-in-irelands-response-to-a-warming-world/
- Aerial surveys assess coast for offshore energy plans https://www.southernstar.ie/climate/aerial-surveys-assess-coast-for-offshore-energy-plans-4276654
- Amazon seeks planning exemption on generator use amid grid strain: Tech firm queried Minister for Housing on rules governing use of backup generators to maintain critical services https://www.irishtimes.com/business/2023/11/11/amazon-seeks-planning-exemption-on-generator-use-amid-grid-strain/
- High Court judge dismisses Kilkenny wind farm challenge https://www.agriland.ie/farming-news/high-court-judge-dismisses-kilkenny-wind-farm-challenge/
- Tourism Ireland to ‘weigh’ benefits of further growth with environmental damage – New chief executive Alice Mansergh says carbon emissions mean value and not volume is more important when chasing growth from far-flung markets https://www.irishtimes.com/business/2023/11/08/irish-tourism-must-weigh-benefits-of-further-growth-with-environmental-damage-says-industrys-marketing-chief/
- Average homeowner facing €40,000 bill for ‘one-stop-shop’ deep retrofit upgrade: The Public Accounts Committee heard on Thursday that there has been a sharp increase in the number of property upgrades this year https://www.irishexaminer.com/news/politics/arid-41266006.html
RESIDENTIAL PROPERTY NEWS (including PRS)
- Estate agent Sherry FitzGerald expects 2023 to be one of the weakest years on record for the investment property market and development land in Ireland. https://businessplus.ie/industry-type/real-estate-property/investment-property-market/
- Investors in rental property must accept regulation, says Iris Reit boss: Chief executive Margaret Sweeney urges big landlords to rethink their approach and move away from expecting short-term financial windfalls https://www.businesspost.ie/news/investors-in-rental-property-must-accept-regulation-says-iris-reit-boss/
- Dispute over regulator’s figures for unregistered landlord complaints: Social Democrats TD Cian O’Callaghan said the figures currently show a ‘worrying lack of enforcement’ in the rental market. https://www.thejournal.ie/rental-market-landlords-rtb-6213403-Nov2023/
- Huge rise in mortgage rates in the past year has made it vastly more expensive for first-time buyers to purchase a new home. Repayments on a typical new buyer mortgage have gone up by almost €280 a month https://m.independent.ie/business/personal-finance/rate-hikes-see-new-property-buyers-hit-with-extra-3300-in-repayments/a1125622237.html
- Expert calls for more ‘green mortgages’ to offer a leg-up to first-time house buyers: Banks must make housing market more sustainable for next generation https://m.independent.ie/irish-news/expert-calls-for-more-green-mortgages-to-offer-a-leg-up-to-first-time-house-buyers/a1793659207.html
- Homeowners can save almost €600 per month by switching, says broker: Mortgage holders may already be paying a ‘record average’ of up to €7,099 in extra repayments per year, according to doddl.ie https://www.irishtimes.com/business/2023/11/06/homeowners-can-save-almost-600-per-month-by-switching-broker-says/
- Couple’s legal case against Pepper’s ‘unconscionable and unenforceable’ rate hikes: Cork mortgage holders take finance company to High Court, claiming their repayments have increased by €7,400 a year https://www.businesspost.ie/news/couples-legal-case-against-peppers-unconscionable-and-unenforceable-rate-hikes/
- Your Questions Answered: ‘Can I avoid vacant homes tax on the cottage I inherited by selling it?’ https://m.independent.ie/business/personal-finance/your-questions-answered-can-i-avoid-vacant-homes-tax-on-the-cottage-i-inherited-by-selling-it/a324607723.html
- U2’s The Edge finally secures planning permission for family home in Dalkey https://www.breakingnews.ie/ireland/u2s-the-edge-finally-secures-planning-permission-for-family-home-in-dalkey-1550316.html
- Glen Dimplex chairman secures €8m from sale of Howth mansion: Around the Block: Fergal Naughton agrees deal for Drumleck House five months after €9.2m purchase of 71 Merrion Square https://www.irishtimes.com/property/residential/2023/11/09/glen-dimplex-chairman-secures-8m-from-sale-of-howth-mansion/
- No planning permission required for housing body to deliver Cork social units – An Bord Pleanála https://www.breakingnews.ie/ireland/no-planning-permission-required-for-housing-body-to-deliver-cork-social-units-an-bord-pleanala-1549418.html
- The architects guide to designing your new build home: Three architects talk to Grainne Rothery about how to plan a home that will work for how your family lives — now and in the future https://www.thetimes.co.uk/article/a-design-for-life-k3dlvtl5c?t=ie
- Inside Galway townhouse selling for €195,000 coined ‘one of Ireland’s weirdest homes!: It would be the perfect home for a first time buyer but it has gained some strange attention online https://www.galwaybeo.ie/news/property/gallery/inside-galway-townhouse-selling-195000-8888194.amp
- Picture-postcard new homes beside the sea in Bray from €475,000: First phase of apartments, duplexes and houses at Ballymore’s Sea Gardens scheme comes to market today https://www.irishtimes.com/property/residential/2023/11/09/picture-postcard-new-homes-beside-the-sea-in-bray-from-475000/
COMMERCIAL PROPERTY NEWS
- Central Plaza and Clerys Quarter commercial developments in Dublin battle economic headwinds: Questions remain about the future shape of Central Plaza on Dame Street and the former Clerys site on O’Connell Street https://www.irishtimes.com/business/2023/11/10/pipeline-of-supply-of-commercial-property-is-expected-to-fall-off-in-2024/
- WeWork trading halted as bankruptcy rumours hit one of Dublin’s biggest tenants https://www.breakingnews.ie/business/trading-in-wework-halted-as-rumours-about-bankruptcy-continue-to-swirl-1548516.html However, Business as usual for WeWork’s Irish operations despite US bankruptcy woes – The company’s scheduled opening of its new Central Plaza office in Dublin remains on track for May 2024 https://www.irishexaminer.com/business/companies/arid-41265349.html
- Beauparc Utilities founder closing in on €19m deal for Chancery building in Dublin city centre: Eamon Waters back on the acquisition trail following purchase earlier this year of Victoria’s Secret’s flagship Grafton Street store https://www.irishtimes.com/property/commercial-property/2023/11/08/beauparc-utilities-founder-closing-in-on-19m-deal-for-chancery-building-in-dublin-city-centre/
- Strong interest in offices next to Dublin’s oldest pub; Some investors have suggested they might convert the property into tourist or residential accommodation https://www.businesspost.ie/property/strong-interest-in-offices-next-to-dublins-oldest-pub/
- Offices at 57 Adelaide Road fully occupied following latest letting: VMO Aircraft Leasing signs new 10-year lease for 4,530sq ft of space on building’s first floor https://www.irishtimes.com/property/commercial-property/2023/11/08/offices-at-57-adelaide-road-fully-occupied-following-latest-letting/
- How Abbey Capital is gaming office market turbulence: Selling two small offices to move into a big one seems to be the best way of navigating current commercial property uncertainty, if the successful Dublin firm’s property deals are any indication https://thecurrency.news/articles/131834/on-the-move-how-abbey-capital-is-gaming-office-market-turbulence/
- Dublin 13 freehold industrial unit for sale with full vacant possession at €2.4m: Unit 81A Baldoyle Industrial Estate extends to total area of 19,494sq ft and offers scope for dual-occupancy https://www.irishtimes.com/property/commercial-property/2023/11/08/dublin-13-freehold-industrial-unit-for-sale-with-full-vacant-possession-at-24m/
- Operators of D4 hotel claim purported sale of property is unconstitutional https://www.breakingnews.ie/ireland/operators-of-d4-hotel-claim-purported-sale-of-property-is-unconstitutional-1549864.html
- Warehouse investment in Crumlin industrial estate guiding €800,000: The 778 square metre property would make an ideal last mile distribution centre, given its location https://www.businesspost.ie/property/warehouse-investment-in-crumlin-industrial-estate-guiding-e800000/
- Blackrock retail investment is a cut above at €395,000: Two-storey property on Main Street in excellent condition and in use as hair salon https://www.businesspost.ie/property/blackrock-retail-investment-is-a-cut-above-at-e395000/
- New Cork city café opens with one of Leeside’s most scenic views https://www.corkbeo.ie/culture/food-drink/new-cork-city-caf-opens-28061257
- World offered ‘once in lifetime opportunity’ as Galway hotel hits market for €450,000: It could be your perfect time to become a hotel owner for the same price as buying a three or four bed home https://www.galwaybeo.ie/news/property/gallery/world-offered-once-lifetime-opportunity-8899219.amp
- Landmark pub in picturesque Kilkenny village hits the market https://www.kilkennypeople.ie/story-telling/property/1342390/landmark-pub-in-picturesque-kilkenny-village-hits-the-market-see-more.html
- Naas Shopping Centre owners ‘won’t fill all the units there https://www.ireland-live.ie/news/kildare-now/1341748/kildare-naas-shopping-centre-owners-won-t-fill-all-the-units-there.html
- Longford Garda Station in Ardagh up for auction https://www.ireland-live.ie/news/longford-live/1341720/longford-garda-station-in-ardagh-up-for-auction.html
- ACB’s former headquarter facility in Cavan sold for just under €1.27m: Price paid represents a premium of 30% on €975,000 which had been sought on behalf of firm’s liquidators https://www.irishtimes.com/property/commercial-property/2023/11/08/acbs-former-headquarter-facility-in-cavan-sold-for-just-under-127m/
- Owner of Co Kerry hotel and island contesting application for €175m judgment https://www.irishtimes.com/business/2023/11/09/owner-of-co-kerry-hotel-and-island-contesting-application-for-175-million-judgment/
- Planning granted for two major housing developments in Tralee and Killarney https://www.radiokerry.ie/news/planning-granted-for-two-major-housing-developments-in-tralee-and-killarney-355592
- Cian MacGinley to head real estate department at Eversheds Sutherland https://www.irishlegal.com/articles/cian-macginley-to-head-real-estate-department-at-eversheds-sutherland
- How the seaside sauna craze swept Ireland – Everyone seems to want a piece of the sweathouse action https://www.ft.com/content/1d075f36-6e58-485e-ae53-f4b93fe73d6a
INTERNATIONAL PROPERTY NEWS
- Half a million fine for HMO landlord who put tenants at risk https://www.landlordtoday.co.uk/breaking-news/2023/11/half-a-million-fine-for-hmo-landlord-who-put-tenants-at-risk
- UK construction in decline in every sector, warns Glenigan https://www.pbctoday.co.uk/news/planning-construction-news/uk-construction-decline-in-every-sector-warns-glenigan/134440/
- Sublet Sagas: How Berlin’s housing crisis is driving residents to the edge – Berlin’s grim housing situation has trapped some residents in a purgatory of temporary tenancy https://www.exberliner.com/berlin/sublet-sagas-housing-crisis-10-apartments-2-years/
- Commercial real estate valuations are so hard-hit that CBRE warns they could fall ‘another 10%,’ after saying earlier they ‘may come down 15%, 20%’ https://fortune.com/2023/11/09/commercial-real-estate-valuations-may-fall-another-10-percent-cbre/
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/