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: 

 

• “Soundbite nonsense” and “rank hypocrisy” in the Dáil over investment funds https://www.irishtimes.com/news/politics/miriam-lord-leaders-questions-leave-everyone-feeling-a-bit-cuckoo-1.4724139

 

• The State’s chief economist issued a warning to Government officials that pumping ‘more money’ into a dysfunctional housing market would only push up prices.  https://amp.extra.ie/2021/11/09/news/irish-news/economist-warning-housing-market

 

• Investors issue warning to firms over their environmental and sustainability (#ESG) conduct: 60% of surveyed investors said a lack of action would prompt them to vote against executive pay plans at the company in which they have invested  https://www.irishexaminer.com/business/economy/arid-40739013.html 

 

• The Department of Finance says that investor roadshows, intended to attract “sustainable investment in residential accommodation” and targeted at financial institutions and funds, will go ahead. https://www.irishtimes.com/news/politics/contentious-residential-investor-roadshows-to-go-ahead-1.4722072 But: O’Brien has ‘no plans’ to attend housing roadshow events for institutional investors: Minister for Housing accuses Sinn Féin of attempting to create controversy  https://www.irishtimes.com/news/politics/oireachtas/o-brien-has-no-plans-to-attend-housing-roadshow-events-for-institutional-investors-1.4725810

 

• Newstalk: Is the prevailing political climate becoming a hostile environment for large investor companies? With Brian Moran, Senior Managing Director, Hines Ireland & Ronan Lyons, Assistant Professor of Economics at Trinity College Dublin https://www.newstalk.com/podcasts/taking-stock/housing-planning-and-international-investor-concerns-how-covid-shook-the-world-economy-with-adam-tooze1

 

• John Walsh: The government must stop backtracking on the need for institutional investors: It’s a no-brainer that large funds have to be part of the solution to the housing crisis, whatever the populist cheerleaders might say  https://www.businesspost.ie/houses/john-walsh-the-government-must-stop-backtracking-on-the-need-for-institutional-investors-b4f2b6ae

 

• ‘Amenity wars’ set to break out in Dublin’s private rented market: Roof-top terraces, dog-washing and outdoor kitchens: Dublin’s apartment market is heating up  https://www.irishtimes.com/business/commercial-property/amenity-wars-set-to-break-out-in-dublin-s-private-rented-market-1.4723706

 

• Students’ union questions need for ‘unnecessary luxuries’ in accommodation development: Proposed Baker’s Corner scheme includes gym and cinema room https://www.irishtimes.com/business/commercial-property/students-union-questions-need-for-unnecessary-luxuries-in-accommodation-development-1.4726092

 

• Haggling over Mica compensation reaches critical and fraught stage  https://www.irishtimes.com/news/politics/haggling-over-mica-compensation-reaches-critical-and-fraught-stage-1.4725640

 

• Supplier at centre of mica storm describes ‘devastating effect’ on his family: David Cassidy describes ‘personal and sinister witch-hunt’ on social media https://www.irishtimes.com/news/ireland/irish-news/supplier-at-centre-of-mica-storm-describes-devastating-effect-on-his-family-1.4722103

 

• Up to half of houses in new schemes to be reserved for owner-occupiers: Cabinet to decide on enabling local authorities to set aside homes for individual buyers https://www.irishtimes.com/news/politics/up-to-half-of-houses-in-new-schemes-to-be-reserved-for-owner-occupiers-1.4723024

 

• Tax avoidance: focus may move from companies to individuals – Attitude towards international tax domicile may changes with future governments https://www.irishtimes.com/business/tax-avoidance-focus-may-move-from-companies-to-individuals-1.4726098

 

• Fascinating opportunity: To the Banner borne – 17th century English mansion transported to west Clare is on the market for €200,000  https://m.independent.ie/life/home-garden/homes/to-the-banner-borne-17th-century-english-mansion-transported-to-west-clare-is-on-the-market-for-200000-41043874.html

 

• Met Éireann office and Casino in Marino on new list for protected status: They include the Met Office in Glasnevin, the Casino in Marino and the baths in Clontarf.  https://www.thejournal.ie/housing-minister-1720-dublin-structures-protected-status-5599773-Nov2021/

 

• Developer of largest Irish offshore windfarm outlines ‘massive challenge’ for Ireland to hit energy targets: Codling project director Arno Verbeek says Scotland’s success provides a stark reminder of how far Ireland needs to go  https://www.irishexaminer.com/business/economy/arid-40743159.html

 

• Waterford taxi driver is raffling off home to help raise funds for 40 defibrillators which will be donated to sports clubs across Ireland.  Conor Ryan is raffling off his three-bedroom home in Dungarvan, in addition to €5,000 cash and a Hyundai IX35 car https://www.irishcentral.com/dream-homes/waterford-man-raffling-coastal-home-defibrillators.amp

 

• Coillte decides against selling forest land near Dublin Mountains: Semi-State forestry firm considered off-loading Killegar Wood after unsolicited approach https://www.irishtimes.com/news/ireland/irish-news/coillte-decides-against-selling-forest-land-near-dublin-mountains-1.4724021

 

• Looking back on 10 years of building world-class data centers  https://tech.fb.com/10-years-world-class-data-centers/

 

• #COP26: Built environment day roundup: For the first time, the climate-change summit is holding a day dedicated to cities, regions and the built environment https://realassets.ipe.com/news/cop26-built-environment-day-roundup/10056287.article

 

• ‘We’ve made tough decisions’: How Bord na Móna became worth €1.25 billion in less than two years: The company has radically changed in a short amount of time. But how did they do it? And at what cost? https://www.thejournal.ie/bord-na-mona-changes-climate-change-5599640-Nov2021/?amp=1

 

• These ingenious floors use 70% less concrete and 90% less steel: A decade in the making, the new floors could mean a notable reduction in carbon emissions created by rapid urban development https://www.fastcompany.com/90695588/these-ingenious-floors-use-70-less-concrete-and-90-less-steel

 

• Seán FitzPatrick dies aged 73: A spokesman for his family confirmed that the banker died yesterday of cardiac arrest following a short illness https://www.businesspost.ie/business/sean-fitzpatrick-dies-aged-73-29db8855 (pictured)

 

 

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

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

This week on #PropertyMatters iPropertyRadio.com iPropertyRadio.com, we are joined by IPAV – Institute of Professional Auctioneers and Valuers  President Paul McCourtney to discuss the 7th European Valuation Conference, which took place in Dublin last week. 

We are also joined by James Benson of the Irish Home Builders Association and by Conor O’Connell of the Construction Industry Federation (CIF) to discuss a recent court judgment pertaining to planning in Cork and other issues contributing to construction delays and escalating costs.  

 

Watch back part 1: https://youtu.be/ZMJAIlEFb8E 

 

 

Watch back part 2: https://youtu.be/g1vINqcsTUA 

 

 

*Listen back to this and all shows at: https://ipropertyradio.com  

*Listen back to this and all shows at: https://ipropertyradio.com  

Email the Property Matters team at info@propertydistrict.ie 

 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

 

 

• Beautiful sketches bring Dublin to life in stunning new book: Author Roisin Cure captures the capital in all its “grit and glory” https://www.dublinlive.ie/lifestyle/beautiful-sketches-bring-dublin-life-22111949

 

• Dublin MetroLink and Luas upgrades pushed back another ten years – but DART extensions given green light: Draft strategy published by the National Transport Authority shows that work on the proposed underground train line linking the city to Dublin Airport will now not get going until at least 2031  https://www.dublinlive.ie/news/dublin-metrolink-luas-upgrades-pushed-22110852.amp (pictured)

 

• Victorian Fruit and Vegetable market rented out as construction storage facility for €600 a week. A construction firm developing a nearby Hilton Hotel, was granted a licence by DCC to use the historic market to store fittings and fixtures in June 2020  https://www.businesspost.ie/local-goverment/victorian-fruit-and-vegetable-market-rented-out-as-construction-storage-facility-for-eur600-a-week-78326665

 

• A number of property owners opposing plans by the theatre and Dublin city council to seize their properties using a compulsory purchase order (CPO) to facilitate the Abbey’s €80 million redevelopment  https://www.thetimes.co.uk/article/abbey-theatre-in-backstage-drama-over-demolition-notices-qcmlj6wl9

 

• Counting Dublin’s derelict properties could take a year, says Hazel Chu  https://www.thetimes.co.uk/article/counting-dublins-derelict-properties-could-take-a-year-says-hazel-chu-85pdqw2q0

 

• DART+ South West second public consultation begins  https://dublinpeople.com/news/dublin/articles/2021/11/12/dart-south-west-second-public-consultation-begins/

 

• Property investor Iput spends over €1m on giant digital screens for art: Venture to support work of 16 local and international artists  https://www.irishtimes.com/business/commercial-property/property-investor-iput-spends-over-1m-on-giant-digital-screens-for-art-1.4727253

 

• ‘Green’ plan key to Galway City’s economic future  https://connachttribune.ie/green-plan-key-to-galway-citys-economic-future/ 

 

• CITY TRIBUNELocals discuss seeking judicial review of planning grant for Galway housing estate  https://connachttribune.ie/locals-discuss-seeking-judicial-review-of-planning-grant-for-galway-housing-estate/

 

• Decision due next March on new Galway ‘Cross-City Link’ bus route https://connachttribune.ie/decision-due-next-march-on-new-galway-cross-city-link-bus-route/

 

• Preferred route options for bypasses of two Limerick towns unveiled  https://www.live95fm.ie/news/live95-news/preferred-route-options-for-bypasses-of-two-limerick-towns-unveiled/

 

• The N81 from the Embankment in Dublin to Tuckmill Cross, West Wicklow.  https://donardimaalhistory.wicklowheritage.org/topics/the-n81-from-the-embankment-in-dublin-to-tuckmill-cross-west-wicklow

 

• Plans for 30 homes in Meath Gaeltacht quashed over concerns about use of Irish language: Conradh na Gaeilge said the ruling is an important victory that will inspire the whole Gaeltacht community. https://www.thejournal.ie/planning-permission-meath-gaeltacht-high-court-5598795-Nov2021/

 

• New rural working hub to be developed at old canal stores  https://www.westmeathindependent.ie/2021/11/10/new-rural-working-hub-to-be-developed-at-old-canal-stores/

 

• Leitrim rents driven up by people leaving cities during pandemic: Rents up by more than a fifth over past year as lack of supply pushes prices higher https://www.irishtimes.com/news/ireland/irish-news/leitrim-rents-driven-up-by-people-leaving-cities-during-pandemic-1.4726167

 

• ‘Rural life & rural people matter’ – Kelly calls out county’s Oireachtas members – Clare Echo https://www.clareecho.ie/rural-life-rural-people-matter-kelly-calls-out-countys-oireachtas-members/

 

• Tipperary named as one of the 22 best holiday destinations in the world for 2022  https://www.joe.ie/news/tipperary-named-one-22-best-holiday-destinations-world-2022-735237

 

• Co Kerry town named among Europe’s most beautiful: Kenmare has been named one of Europe’s most beautiful small towns.  https://www.irishcentral.com/travel/kenmare-co-kerry-europe-most-beautiful-town

 

 

*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

This week, construction activity has grown for the sixth month in a row according to Ulster Bank’s purchasing managers’ index. Furthermore, difficulties from Brexit, Covid-19 and materials shortages have reportedly lengthened delivery times and increased costs.

 

Also, Housing Minister Darragh O’Brien posted on social media that he “committed to restoring planning to local authorities… I moved the Planning & Development (Large Scale Residential Development) Bill in the Seanad. It will replace SHD’s & ensure streamlined planning and local decision making for much needed home…” (image below)

• Development land sector could see sales exceed €500m by end of 2021: Precise figures are disputed, but both CBRE and Savills agree that sales for Q3 reached about €185 million https://www.businesspost.ie/commercial/development-land-sector-could-see-sales-exceed-eur500m-by-end-of-2021-7e973479

 

• The great divide: Dublin’s north-south zoning conundrum: Differences in local authority approaches to the zoning of lands outside the M50 may be driving the lopsided development of indigenous industry https://www.businesspost.ie/commercial/the-great-divide-dublins-north-south-zoning-conundrum-6fb60fe0

 

• CIS round-up of building projects: Your guide to construction activity in train across the country  https://www.businesspost.ie/commercial/cis-round-up-of-building-projects-85a5f075

 

• Pent-up construction demand puts Italy and Ireland into strong growth mode last month against the backdrop of weak growth across the Eurozone, according to a series of Construction Purchasing Managers Indexes (PMIs) released this week  https://www.globalconstructionreview.com/italy-ireland-were-construction-hotspots-last-month-in-a-sluggish-eurozone/

 

• Input price inflation hit record high in construction sector last month: Severe supply chain disruption is leading to higher costs for building firms  https://m.independent.ie/business/irish/input-price-inflation-hit-record-high-in-construction-sector-last-month-41028128.html

 

• House construction growth cooling as supply disruptions begin to bite  https://www.irishexaminer.com/business/economy/arid-40739148.html

 

• Majority of homes in Nama’s pipeline cannot be delivered before 2025: The agency has considerable amounts of land in areas affected most acutely by the shortage of affordable homes including Dublin, Cork, Meath and Wicklow  https://www.businesspost.ie/houses/majority-of-homes-in-namas-pipeline-cannot-be-delivered-before-2025-14017948

 

• Irish Water opens state-of-the-art new water treatment plant in Vartry https://irishbuildingmagazine.ie/2021/11/10/irish-water-opens-state-of-the-art-new-water-treatment-plant-in-vartry/

 

• Has the delivery of student accommodation in Dublin peaked? Report says new supply of student accommodation looks set to evaporate https://www.irishtimes.com/business/commercial-property/has-the-delivery-of-student-accommodation-in-dublin-peaked-1.4723588

 

• Excavation work on Poolbeg towers has begun: The ESB has ‘conducted a number of trial excavations to examine the chimney foundations and surrounding soils’ in recent weeks https://www.businesspost.ie/energy/excavation-work-on-poolbeg-towers-has-begun-b9b8a3b2

 

• Approval given for 1,592 unit build-to-rent scheme at Clonliffe Road: Hines confirms it had received permission for development on Holy Cross seminary site https://www.irishtimes.com/news/ireland/irish-news/approval-given-for-1-592-unit-build-to-rent-scheme-at-clonliffe-road-1.4722526

 

• Developer of 1,600 units open to leasing to DCC despite council’s ‘alarm’ at build-to-rent scheme: There has been much local opposition to a scheme in Drumcondra, which was approved this week.  https://www.thejournal.ie/drumcondra-rental-units-5597489-Nov2021/

 

• Planning refused for 256 build-to-rent apartments in Loughlinstown: Appeals board highlights ‘overbearing impact’ on nearby homes  https://www.irishtimes.com/business/commercial-property/planning-refused-for-256-build-to-rent-apartments-in-loughlinstown-1.4724862

 

• New plans for former paper mill in Clonskeagh include 167 apartments and an aparthotel: Planning application for former Smurfit Paper Mills adjacent to River Dodder includes taller blocks  https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/life-and-style/homes-and-property/new-plans-for-former-paper-mill-in-clonskeagh-include-167-apartments-and-an-aparthotel-1.4724634?mode=amp

 

• South Dublin council votes against sale of land to private developers: The sale of two sites in Castlefield in Knocklyon were proposed  https://www.irishtimes.com/news/ireland/irish-news/south-dublin-council-votes-against-sale-of-land-to-private-developers-1.4723015

 

• Development site opposite Smithfield fruit market for €1m: City centre site has scope for a 10-storey block with 17 residential units https://www.irishtimes.com/business/commercial-property/development-site-opposite-smithfield-fruit-market-for-1m-1.4720537

 

• Celeb favourite The Standard to open first hotel in Ireland: Group expected to open at Ballymore’s Dublin Arch (previously know as Connolly Quarter) development in 2025  https://www.irishtimes.com/business/commercial-property/celeb-favourite-the-standard-to-open-first-hotel-in-ireland-1.4723508

 

• Planning hurdle for ‘East Cork’s Kildare Village’ removed after two-year battle: Residents and local businesses welcome the news, while environmental campaigners and city businesses had objected  https://www.irishexaminer.com/news/munster/arid-40743117.html

 

• Plans lodged for 191 apartments on Cork’s northside  https://www.echolive.ie/corknews/arid-40742769.html

 

• Appeals lodged over proposed large-scale housing plan on Cork’s northside  https://www.echolive.ie/corknews/arid-40741044.html

 

• Plans afoot for over 220 homes in Carrigaline  https://www.echolive.ie/corknews/arid-40740579.html

 

• An application has been put forward to build 73 new homes on the outskirt of a Cork village. The homes could be developed in the Cloghroe area just outside Tower after the submission went into Cork City Council last week.  https://www.corkbeo.ie/news/local-news/plan-73-homes-new-estate-22129052

 

• Planning permission granted for Salthill apartment building  https://www.galwaydaily.com/news/housing/planning-permission-granted-for-salthill-apartment-building/

 

• Work begins on new €11m Aldi store in Athenry  https://galwaybayfm.ie/galway-bay-fm-news-desk/works-begins-on-new-e11m-aldi-store-in-athenry/

 

• Two new school building projects announced for Galway  https://www.galwaydaily.com/news/education/two-new-school-building-projects-announced-for-galway/

 

• Limerick site makes €780,000 over AMV at BidX1 auction: Development site in Castleconnell was one of several lots across the country to sell for well over the guide price https://www.businesspost.ie/commercial/limerick-site-makes-eur780000-over-amv-at-bidx1-auction-729ada9a

 

• CIF Summit shares 21st century vision on future of midwest: Construction industry leaders discussed how the sector will meet the challenge of tight supply and rising demand  https://www.businesspost.ie/commercial-reports/cif-summit-shares-21st-century-vision-on-future-of-midwest-d7dca597

 

• Pharma giant MSD plans giant solar farm at its plant in Tipperary  https://m.independent.ie/business/irish/pharma-giant-msd-plans-giant-solar-farm-at-its-plant-in-tipperary-41046489.html

 

• Airborne wind energy system to be trialled in Co Mayo: German firm RWE Renewables will construct test site for cutting-edge wind energy technology at Bangor Erris, to be ready for use early next year https://www.businesspost.ie/energy/airborne-wind-energy-system-to-be-trialled-in-co-mayo-c3041f05 

 

• ‘Ambitious’ approach needed in Longford for acquisition of property for IDA building, says Flaherty  https://www.longfordleader.ie/news/home/691176/ambitious-approach-needed-in-longford-for-acquisition-of-property-for-ida-building-says-flaherty.html

 

• Plans approved for housing development on Erne Palais site  https://www.northernsound.ie/amp/news/plans-approved-for-housing-development-on-erne-palais-site-184654

 

• Ready-to-go site in Ashbourne guiding €1.65m: The 0.7-hectare site near the centre of the commuter town has planning for 18 new homes https://www.businesspost.ie/commercial/ready-to-go-site-in-ashbourne-guiding-eur165m-23b522f8

 

• Building companies get court protection from creditors: Housebuilders have constructed units for local authorities and Cluid https://www.irishtimes.com/business/construction/building-companies-get-court-protection-from-creditors-1.4724880

 

• Ardale launches chain of plant and tool hire centres: The company is investing €1m and creating 15 jobs in the new business  https://www.irishtimes.com/business/commercial-property/ardale-launches-chain-of-plant-and-tool-hire-centres-1.4727387

 

• Kingspan reports 44% increase in sales to €4.7bn: Insulation maker expects full-year trading profit in region of €750 million https://www.irishtimes.com/business/energy-and-resources/kingspan-reports-44-increase-in-sales-to-4-7bn-1.4722493

 

• Also: Kingspan should pay for repairs to unsafe buildings, says UK MP: Irish firm says it did not know its K15 insulation was used in Grenfell Tower https://www.irishtimes.com/business/construction/kingspan-should-pay-for-repairs-to-unsafe-buildings-says-uk-mp-1.4725057

 

• HUB and Smedvig have appointed JJ Rhatigan & Company (JJR), a leading building contractor in the UK and Ireland, as the main contractor to deliver the first phase of The Landing project in Maidenhead, which is being funded by the build-to-rent operator Get Living for £155m https://www.irishrealestate.news/jj-rhatigan-appointed-as-lead-contractor-for-major-development-in-maidenhead/ 

 

• BAM first to join industry pallet reuse scheme to cut waste  https://www.constructionenquirer.com/2021/11/10/bam-first-to-join-industry-pallet-reuse-scheme-to-cut-waste/

 

• Lioncor takes Dún Laoghaire-Rathdown County Council to High Court: Developer case involves planning permission refusal for 445 homes in Cherrywood https://www.irishtimes.com/business/construction/lioncor-takes-d%C3%BAn-laoghaire-rathdown-county-council-to-high-court-1.4726237

 

• Join Host in Ireland at the Data Centres Ireland Expo at the RDS this Tuesday and Wednesday: Register at  https://datacentres-ireland.registrationdesk.ie

 

 

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 * 

 

• 30 under 30: Young guns who are shooting for the stars https://m.independent.ie/business/irish/30-under-30-young-guns-who-are-shooting-for-the-stars-41045671.html

 

• BidX1 valued at €66m as it secures €13m investment from new backers: DoValue and Oliver Wyman join Pollen Street Capital and founder as shareholders https://www.irishtimes.com/business/technology/bidx1-valued-at-66m-as-it-secures-13m-investment-from-new-backers-1.4724047

 

• PropTech start-ups sought for international funding programme  https://www.estateagenttoday.co.uk/breaking-news/2021/11/uk-proptech-start-ups-sought-for-international-funding-programme?source=newsticker

 

• New tech aims to reduce environmental impact of Ireland’s data centres  https://www.siliconrepublic.com/enterprise/data-centres-environmental-impact-sustainability-data-edge

 

• How proptech is removing friction from the home-buying process (VB Live)  https://venturebeat.com/2021/11/12/how-proptech-is-removing-friction-from-the-home-buying-process-vb-live/

 

• Independent Living and Aging in Place: Is Smart Home Technology the Key? Technology is an ever-evolving solution to many of the problems we’re facing, and senior interest in smart devices is a trend that has recently picked up momentum https://www.probuilder.com/blog/independent-living-and-aging-place-can-smart-home-technology-be-key. (Pictured) 

 

• Making the most of BIM: The use of BIM is on the rise but incorrect implementation can increase construction costs, cause delays and even carry legal consequences. Stewart Bailey of proptech agency Virtual Viewing on how to maximise your BIM strategy https://www.pbctoday.co.uk/news/bim-news/bim-system/101622/

 

• Is Sustainability Certification in Real Estate Worth it? An average rent premium of 21% is observed in certified office buildings over the five year analysis period https://www.cbre.co.uk/research-and-reports/Is-Sustainability-Certification-in-Real-Estate-worth-it

 

• UK Estate agency industry-backed proptech scheme launches next initiative https://thenegotiator.co.uk/estate-agency-industry-backed-proptech-scheme-launches-next-initiative/

 

• Growing lettings proptech launches £250,000 crowdfunding bid: FindingaPlace.com founder Michael Savva say new money will help grow team and prepare it for national expansion. https://thenegotiator.co.uk/growing-lettings-proptech-launches-250000-crowdfunding-bid/

 

• Proptech platform Swivel is being hailed by real estate owners as a solution to growing vacancy rates. Swivel gives a visual that makes collaborating with a building’s owner much easier, as well as providing a 3D tour of the space  https://allwork.space/2021/11/proptech-firm-could-resolve-growing-vacancy-rates/

 

• How commercial real estate is keeping up with technology: As technology grows, landlords and tenants will become more connected and effective at working together on a variety of challenging issues, including climate change, security and optimizing space https://www.theglobeandmail.com/real-estate/adv/article-how-commercial-real-estate-is-keeping-up-with-technology/

 

• NZ Super invests $100m in proptech via Fifth Wall fund | News | Real Assets https://realassets.ipe.com/news/nz-super-invests-100m-in-proptech-via-fifth-wall-fund/10056286.article

 

• Density, which provides occupancy-tracking sensors to companies, raises $125M  https://venturebeat.com/2021/11/10/density-which-provides-occupancy-tracking-sensors-to-companies-raises-125m/

 

• Smart building technology company Brivo reached an agreement to go public via special purpose acquisition with Crown PropTech Acquisitions. The SPAC deal values Brivo at $808 million  https://techcrunch.com/2021/11/10/brivo-to-go-public-via-spac-at-808m-valuation/

 

• Proptech Sale-Leaseback Startup Keyway Raises $15M Seed Round  https://commercialobserver.com/2021/11/keyway-technology-proptech/

 

• Transport by Electric Scooters: Are Our Cities Ready for Micromobility?  https://www.archdaily.com/971488/transport-by-electric-scooters-are-our-cities-ready-for-micromobility

 

• ‘Social Network’ online platform announces PropTech collaboration  https://www.estateagenttoday.co.uk/breaking-news/2021/11/social-network-online-platform-announces-proptech-collaboration

 

• VergeSense Raises $60 Million in Series C to Accelerate Development and Innovation in Workplace Analytics: Proptech company accelerates growth, leadership in workplace transformation https://finance.yahoo.com/news/vergesense-raises-60-million-series-130300553.html

 

RESIDENTIAL PROPERTY NEWS (including PRS)

 

 

• Central Bank Governor Gabriel Makhlouf has said the ongoing review into the bank’s mortgage lending rules “is not a signal that rules are going to be relaxed.”  https://amp.rte.ie/amp/1258579/

 

• KBC mortgage customers €2,000 a year worse off with Bank of Ireland, consumer expert warns  https://m.independent.ie/business/personal-finance/kbc-mortgage-customers-2000-a-year-worse-off-with-bank-of-ireland-consumer-expert-warns-41043955.html?utm_source=facebook&utm_medium=social&utm_campaign=seeding

 

• O’Brien could not agree on new mica scheme with officials ahead of key meeting: Two notes were sent to cabinet subcommittee ahead of mica redress meeting because officials opposed higher cap on grants to homeowners https://www.businesspost.ie/houses/obrien-could-not-agree-on-new-mica-scheme-with-officials-ahead-of-key-meeting-e4473ba0

 

• Not-for-profit housing association seeing ‘huge difficulty’ in delivering affordable apartments: Circle VHA will add an additional 1,500 homes to its portfolio and its CEO has said it could do more. https://www.thejournal.ie/voluntary-housing-body-5591829-Nov2021/

 

• It’s getting worse: Renters  https://www.rte.ie/news/ireland/2021/1110/1259114-regional-rent-clonmel/

 

• It’s getting worse: Landlords – A landlord getting out of the rental market  https://www.irishtimes.com/opinion/letters/a-landlord-getting-out-of-the-rental-market-1.4727091 

 

• Rent inflation surges to 6.8% amid ‘unprecedented’ shortage of homes – Just 1,460 homes to rent on its site in November, Daft report says https://www.irishtimes.com/business/economy/rent-inflation-surges-to-6-8-amid-unprecedented-shortage-of-homes-1.4724045

 

• Labour bill would give renters the right to lease unfurnished homes: Housing spokeswoman says proposed change for long-term rentals, would bring Ireland into line with European norms  https://www.businesspost.ie/houses/labour-bill-would-give-renters-the-right-to-lease-unfurnished-homes-5c0cae8b

 

• Homeless charity ICHH to cease providing services next week: Alternative homeless services prepared to take on increased demand, says liquidator https://www.irishtimes.com/news/social-affairs/homeless-charity-ichh-to-cease-providing-services-next-week-1.4724810

 

• Two-year delays in turning around some vacant local authority homes : Cork City took 63 weeks on average, and Cork County took 53 weeks. Sligo County Council was the worst at 139 weeks. https://www.irishexaminer.com/news/munster/arid-40739988.html

 

• Cork artist facing homelessness wants to ‘strike a deal’ and do up a derelict council home: Keith Anderson and his daughter are facing homelessness as their landlord is selling up https://www.irishexaminer.com/news/munster/arid-40739709.html

 

• Government steps back from tinkering with Bank of Mum and Dad: Amendments also deal with tax treatment of non-cash prizes in raffles and draws https://www.irishtimes.com/business/personal-finance/government-steps-back-from-tinkering-with-bank-of-mum-and-dad-1.4727029

 

• There’s uproar among rural Limerick councillors as it’s been revealed the county is likely to lose out on affordable housing under the government’s new Housing for All plan. https://www.live95fm.ie/news/live95-news/county-limerick-may-get-no-affordable-housing/

 

• We’re saving a derelict building, so why can’t our local authorities do the same  https://www.thetimes.co.uk/article/saving-derelict-building-ireland-local-council-property-vbz56rxl2

 

• Revenue Local Property Tax website crashes AGAIN one day before extended deadline https://www.irishtimes.com/news/ireland/irish-news/revenue-local-property-tax-website-crashes-one-day-before-deadline-1.4723673

 

• Leitrim sees highest rent increases nationwide in new property report  https://www.shannonside.ie/news/leitrim-sees-highest-rent-increases-nationwide-in-new-property-report-193085

 

• Remote working linked to surge in house prices outside Dublin: Increased demand from those looking to relocate putting pressure on rural prices https://www.irishtimes.com/life-and-style/homes-and-property/remote-working-linked-to-surge-in-house-prices-outside-dublin-1.4723677?mode=amp

 

• Inside a Georgian townhouse turned interiors treasure trove: Meet interiors concierge Maoliosa Murray whose move home to Dublin from London led her to her dream workspace https://www.irishexaminer.com/property/homeandoutdoors/arid-40743324.html (pictured)

 

• Rod Stewart snaps up keys for new pad in ‘gorgeous’ Ireland:  The legendary star (76) has said that he has just bought an apartment in the heart of Dublin 4 near the Aviva stadium and hopes to move in over the next few months.  https://m.independent.ie/irish-news/rod-stewart-snaps-up-keys-for-new-pad-in-gorgeous-ireland-41039568.html (pictured)

 

• Solar panels aren’t for every home: 10 smart ways to make your house energy efficient: Retrofitting can be done all at once – or over several years, chartered surveyors advise  https://www.irishtimes.com/life-and-style/homes-and-property/solar-panels-aren-t-for-every-home-10-smart-ways-to-make-your-house-energy-efficient-1.4726079?mode=amp

 

• Property Focus: Where buyers Adare to dream – The arrival of the Ryder Cup to Adare in 2027 will be a further bonanza for village  https://www.irishexaminer.com/property/residential/arid-40737189.html 

 

• PROPERTY WATCH: Take a look around one of Ireland’s cheapest homes on sale for public auction  https://www.limerickleader.ie/news/national-news/690865/property-watch-take-a-look-around-one-of-ireland-s-cheapest-homes-on-sale-for-public-auction.html

 

• Revenue secures injunction preventing landlord from disposing assets below €2.3m: The judge said he was satisfied there was a “strong case” alleging that Paul Howard may continue to sell his properties  https://www.irishtimes.com/news/crime-and-law/courts/high-court/revenue-secures-injunction-preventing-landlord-from-disposing-assets-below-2-3m-1.4723975

 

 

• Building Advice: Extending a terrace home: What you need to consider when building to the rear and staying on good terms with your neighbours  https://www.irishexaminer.com/property/residential/arid-40737204.html

 

 

 

COMMERCIAL PROPERTY NEWS

 

 

• Aviva says investors locked into its €400 million Irish commercial property fund can “expect developments in a number of weeks”.  https://www.thetimes.co.uk/article/aviva-promises-review-of-lock-in-for-fund-investors-wqclw3vvh

 

• Nine Irish Pub Properties Hit The Market  https://www.hospitalityireland.com/pub-bar-nightclub/nine-irish-pub-properties-hit-the-market-152794

 

• Kennedy Wilson gets $25m in cash payouts from Irish joint ventures: Filing by US real estate firm also details decline in revenue at Shelbourne Hotel https://www.irishtimes.com/business/commercial-property/kennedy-wilson-gets-25m-in-cash-payouts-from-irish-joint-ventures-1.4722032

 

• Fort Motor Group puts showroom in Tallaght on the market for €5m: Property will be sold with vacant possession as motor group reviews Dublin outlets https://www.irishtimes.com/business/commercial-property/fort-motor-group-puts-showroom-in-tallaght-on-the-market-for-5m-1.4723487

 

• Investment opportunity at office development in Tallaght: Blocks A and B of Cookstown Court are a pair of four-storey over double-basement, semi-detached office buildings, guiding at €5 million  https://www.businesspost.ie/commercial/investment-opportunity-at-office-development-in-tallaght-f51f50d8

 

• Future of Eddie Rockets depends on resumption of full trading as turnover halves: A significant decline in cash flow and profitability is anticipated by the directors https://www.businesspost.ie/companies/future-of-eddie-rockets-depends-on-resumption-of-full-trading-as-turnover-halves-6d00c87e

 

• Investor to locate vertical farms in its retail centres: New firm will grow herbs, leafy greens and micro veg indoors in tower structures https://m.independent.ie/business/commercial-property/investor-to-locate-vertical-farms-in-its-retail-centres-41039686.html

 

• Krispy Kreme’s plans for its first Dublin City centre outlet have suffered a setback with the company now stating it will not be open until early 2022. https://amp.rte.ie/amp/1259606/

 

• Cork office block comes to the market for €3.5 million: The property at Euro Business Park comprises a detached three-storey office building of about 606 square metres https://www.businesspost.ie/commercial/cork-office-block-comes-to-the-market-for-eur35-million-df54a7f0

 

• Midleton pub and three-bed apartment ‘with a lot of potential’ goes up for sale for €280K: A bit of an open project for whoever buys it  https://www.corkbeo.ie/news/local-news/midleton-pub-three-bed-apartment-22145026

 

• €3 million investment secured for Clinical Research Facility Galway  https://galwaybayfm.ie/galway-bay-fm-news-desk/e3-million-investment-secured-for-clinical-research-facility-galway/

 

• Golden Discs Galway LIVE as reopening delay update issued at iconic store  https://www.galwaybeo.ie/culture/whats-on-news/goldendiscs-galway-opening-update-date-6174474

 

• Revealed: Lidl Ireland to open its brand-new store in Tipperary https://www.tipperarylive.ie/news/home/691887/breaking-lidl-ireland-to-open-its-brand-new-store-in-tipperary.html

 

• Businesses in Leitrim say an increase in rates in 2022 is bad timing for many who are struggling to get back on their feet after the Covid 19 restrictions.  https://www.shannonside.ie/news/local-businesses-brand-leitrim-rates-increase-as-bad-timing-192989

 

• Sale of popular health food store presents golden opportunity for foodies: In a Nutshell, the New Ross shop and deli owned by retiring couple Philip and Patsy Rogers, is on the market guiding €525,000  https://www.businesspost.ie/commercial/sale-of-popular-health-food-store-presents-golden-opportunity-for-foodies-f6fd8bdb

 

• Trio of appointments at Colliers Ireland: Kate Ryan, Catherine Loughnane and Caitriona Kirrane have all taken senior positions at the real estate advisory firm  https://www.businesspost.ie/commercial/trio-of-appointments-at-colliers-ireland-12a34b37

 

• Belfast-based Titanic Studios – currently under license to HBO and famously the location where hit-show Game of Thrones was filmed – has been listed for sale.  https://www.insidermedia.com/news/ireland/landmark-titanic-studios-brought-to-market (pictured) 

 

INTERNATIONAL PROPERTY NEWS

 

• Sean Ewing has teamed up with Chanelle Pharma’s Michael Burke and his family to develop a mega-property portfolio focused on Edmonstone in the southeast of Edinburgh  https://www.thetimes.co.uk/article/ewing-tees-up-profits-in-scottish-property-tie-up-srtfkvrmq

 

• Push ahead with register of foreign owners of UK properties, says Labour: Pat McFadden cites Pandora papers revelations and says Britain should not become ‘home for more illicit finance’  https://www.theguardian.com/politics/2021/nov/13/push-ahead-with-register-of-foreign-owners-of-uk-properties-says-labour

 

• Move over, Algarve: here’s Portugal’s new exclusive property hot spot – Comporta in the Alentejo region is seeing a spurt of development https://www.irishtimes.com/life-and-style/homes-and-property/move-over-algarve-here-s-portugal-s-new-exclusive-property-hot-spot-1.4723801?mode=amp (pictured)

 

• Revealed: the 23 UK companies that collapsed in October – The number of construction administrations in October was the highest since before the first lockdown https://www.constructionnews.co.uk/financial/administrations/revealed-the-23-companies-that-collapsed-in-october-08-11-2021/

 

• McAleer & Rushe tops UK October league with big resi wins  https://www.constructionnews.co.uk/news/league-tables-news/mcaleer-rushe-tops-october-league-with-big-resi-wins-10-11-2021/

 

• Government Announces New Laws and A Code of Practice to Resolve Disputes Related to Commercial Rent Debts Arising Due to Covid-19  https://www.natlawreview.com/article/government-announces-new-laws-and-code-practice-to-resolve-disputes-related-to?amp

 

• Equinix-occupied data center in London sold to Blackstone for £196.5 million: Land Securities Group offloads data center as it focuses on offices and mixed-use properties https://www.datacenterdynamics.com/en/news/equinix-occupied-data-center-in-london-sold-to-blackstone-for-1965-million/

 

• Small scale nuclear to get green light this week  https://www.bbc.com/news/business-59201945 (pictured)

 

• Chinese boxes configured to meeting UK housing specs – Architect Chapman Taylor has designed a residential format based on Chinese shipping containers. https://www.theconstructionindex.co.uk/news/view/chinese-boxes-configured-to-meeting-uk-housing-specs (pictured) 

 

• The big idea: Is the era of the skyscraper over? Has the pandemic put an end to the age of cities competing for ever taller buildings? Oliver Wainwright discusses the staying power of the high rise  https://amp.theguardian.com/books/2021/oct/18/the-big-idea-is-the-era-of-the-skyscraper-over

 

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/