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:

 

@ipropertyradio Delighted to attend the SCSI Annual Dinner- you know its a good night when the clock hits 2am begore you’re in bed! #ipropertyradio #scsi #property #cork #ireland #travel #galadinner #blacktie #visitireland #latenight ♬ One Side – Iyanya

• It was wonderful to join the SCSI team in Cork on Friday for the annual Southern Region Black-tie Dinner, in association with Bank of Ireland. While keynote speaker and former Special Forces Operator Ray Goggins motivated the room with lessons learned – including from his RTE Ultimate Hell Week show – it was SCSI’s own Enda McGuane (LDA) and Majella Galvin (DNG Michael Galvin) who delivered inspiring calls to action for the regions, reminding surveyors in the room about the huge impact of their work. Learn more about the SCSI here: https://scsi.ie/ 

 

• Huge news this week and a very positive development for home buyers (and sellers) and for rural Ireland – most weeks on iProperty Radio we highlight the challenges that would-be users of the vacant homes and derelict homes grant schemes run into when trying to secure a mortgage and, separately, financing the renovation works (the next issue to be addressed!). €448m approved to deliver 250 affordable-purchase and 1,650+ cost-rental homes. Government also agreed to broaden the local authority home loan to make finance available to purchase and renovate derelict or non-habitable properties for the first time https://www.breakingnews.ie/ireland/housing-schemes-expanded-as-government-says-its-plan-is-gathering-momentum-1551685.html 

 

• Government to consider vacant property grant changes after just 21 draw-downs: despite 4,640 applications to the scheme and 1,975 approvals, just 21 grants have been drawn down since the programme was introduced in July 2022 https://www.irishexaminer.com/news/politics/arid-41270938.html

 

• Ex Bord Pleanála deputy chairman Paul Hyde avoids prison after appeal and receives fine https://m.independent.ie/irish-news/ex-bord-pleanala-deputy-chairman-paul-hyde-avoids-prison-after-appeal-and-receives-fine/a944679878.html

 

• Mick Clifford: Is the Government taking An Bord Pleanála’s name in vain? Is a name change for the planning board a case of throwing the baby out with the bathwater after its brand was tarnished by a few bad years https://www.irishexaminer.com/opinion/commentanalysis/arid-41271169.html

 

• More buyers are passing over second-hand homes in favour of new builds: Demand for energy efficiency is pushing up buyers’ interest in newly built homes https://m.independent.ie/business/personal-finance/more-buyers-are-passing-over-second-hand-homes-in-favour-of-new-builds/a2117238325.html

 

• Expert group to examine the whole process around buying a house from bidding to probate: Leo Varadkar said some people are facing lots of delays buying a house. https://www.thejournal.ie/expert-group-buying-a-house-6222936-Nov2023/

 

• O’Connell Street building worth ‘millions’ among OPW properties vacant during housing crisis:  OPW’s empty buildings could accommodate hundreds of homeless people or home seekers, with renovations, if they are required, depending on their state of repair https://www.dublinlive.ie/news/property/oconnell-street-building-worth-millions-28107881.amp

 

• Private institutional investors aren’t the enemy, they’re key players in resolving the housing crisis: Policy measures that keep out investment may be well-intentioned but they are only making the situation worse for everyone https://www.irishtimes.com/business/2023/11/13/private-institutional-investors-arent-the-enemy-theyre-key-players-in-resolving-the-housing-crisis/?

 

• Facts, emotion, and the great data centre debate: It is only a matter of time until the energy supply constraint is fixed through investment but a significant question remains: Is it strategic for Ireland to be home to so many data centres? https://thecurrency.news/articles/133536/how-many-are-too-many-facts-emotion-and-the-great-data-centre-debate/

 

• Peter McVerry Trust paid €1.8m for property sold for €970,000 months earlier: Interim State funding to be released to allow homelessness charity’s services continue in short term https://www.irishtimes.com/ireland/housing-planning/2023/11/14/mcverry-trust-paid-18m-for-property-previously-sold-for-970000/ Also: Crisis at Peter McVerry Trust deepens as councils look to exit housing projects with charity; It emerged this week that several local authorities are reviewing plans to develop housing with the homelessness charity that is struggling with a financial crisis https://www.irishtimes.com/ireland/2023/11/18/crisis-at-peter-mcverry-trust-deepens-as-councils-look-to-exit-housing-projects-with-charity/

 

• Former office space in Carlow town to become two homes – It’ll have an impact on the local economy https://kclr96fm.com/former-office-space-in-carlow-town-to-become-two-homes/

 

• Businessman Ben Dunne dies at age of 74 https://m.independent.ie/irish-news/businessman-ben-dunne-dies-at-age-of-74/a6855705.html

 

 

If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/sunday-roundup/ 

As always, you might let me know if I have missed out on any relevant property news by emailing  carol@propertydistrict.ie.

(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)

 

 

 

SUNDAY LISTEN

This week on iPropertyRadio… 

 

#Property Roundup

This week on iPropertyRadio…

On #PropertyRoundup host Carol Tallon is joined by Regina Mangan, Managing Director of Liberty Blue Estate Agents for an exciting announcement. Regina’s new book, ‘How To Build a  Smarter, Faster, Better Irish Estate Agency’ will be hitting the shelves of Irish bookstores in January 2024! She explores the Liberty Blue Estate Agents journey, including what went wrong, challenges along the way and how she built a fantastic team around her. 

For more information about Liberty Blue Estate Agents go to https://libertyblue.ie/about-liberty-blue/

*Property Roundup is sponsored by Daft.ie, Ireland’s most visited property website: https://www.daft.ie/

*Watch/ listen back: https://ipropertyradio.com/property-roundup/ 

 

#Proptech Hot Seat

In the Proptech Hot Seat is Cillian Casey, Vice President of CIM.io, to discuss The PEAK Platform and how PEAK can reduce your energy bills and provide up to 6 times return on investment. 

For more information check out 👉 https://www.cim.io/ 

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 we are joined by Lorna Hagan CQP, Director of Construct Tuition , who was recently named amongst the Top 100 influencers.

Lorna discusses how her own background as a civil engineer with 18 years’ experience made her aware of obvious gaps in training for those new to the industry and at various stages of their careers. This led her to establishing Construct Tuition to bridge that gap and give new workers further training through various courses, including an introduction to the industry and mid-tier training.

Listen back to the full interview to hear what we can expect from ConstructTuition in 2024. 🔗 https://constructtuition.co.uk/

 

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/

 

• Irish Rail have come under fire this week after being accused of ‘hoarding’ over 120 homes across Ireland possibly worth more than €40 million. https://www.galwaybeo.ie/news/galway-news/irish-rail-recklessly-hoarding-galway-8906968.amp

 

• Another Cork city building ‘falling down’ as pathway cordoned off after safety fears: The stretch was blocked off with construction barriers yesterday after a “sudden crack” raised concerns https://www.corkbeo.ie/news/local-news/another-cork-city-building-falling-28130736

 

• Council publishes ‘very significant proposals’ for Cork town: A public consultation has opened on the proposals.  https://www.echolive.ie/corknews/arid-41267308.html

 

• Green light as contract signed for €2.6m Cork to Kinsale greenway https://www.southernstar.ie/news/green-light-as-contract-signed-for-e2-6m-cork-to-kinsale-greenway-4276299

 

• Galway Harbour Company is almost ready to sign off on a deal with the Land Development Agency (LDA) which would pave the way for housing on a six-acre city centre site. https://connachttribune.ie/land-development-agency-set-to-take-harbour-lands-for-housing/#google_vignette

 

• There are no expressions of interest in developing a 17th century house and estate in Ballinasloe – which can be acquired for the princely sum of €1. https://connachttribune.ie/no-interest-in-e1-mansion-in-ballinasloe/#google_vignette

 

• Simon Harris assures Wicklow coastline prone to flooding will now be regularly cleared https://m.independent.ie/regionals/wicklow/wicklow-district/simon-harris-assures-wicklow-coastline-prone-to-flooding-will-now-be-regularly-cleared/a1180008883.html

 

• New coaching and mentoring initiative for west Wicklow artists launched https://m.independent.ie/regionals/wicklow/west-wicklow-news/new-coaching-and-mentoring-initiative-for-west-wicklow-artists-launched/a1174045440.html

 

• Historic buildings in Tipperary Town to be transformed under new project  https://www.tipperarylive.ie/news/home/1347482/historic-buildings-in-tipperary-town-to-be-transformed-under-new-project.html

 

• Residents of three Louth housing estates ‘fuming’ over approval for apartment blocks: Peaceful protest ‘ignored’ as development of 43 apartments granted permission https://m.independent.ie/regionals/louth/drogheda-news/residents-of-three-louth-housing-estates-fuming-over-approval-for-apartment-blocks/a1997382619.html

 

• Sligo is ‘blighted’ by derelict buildings that should be brought back into use: Concerns arise over High Street building https://m.independent.ie/regionals/sligo/news/sligo-is-blighted-by-derelict-buildings-that-should-be-brought-back-into-use/a1265517574.html

 

• Application submitted to Department of Education for new Mayo gaelcholáiste https://www.con-telegraph.ie/2023/11/18/application-submitted-to-department-of-education-for-new-mayo-gaelcholaiste/

 

• Participatory Planning: Shaping Cities through Community Engagement https://www.archdaily.com/1009635/participatory-planning-shaping-cities-through-community-engagement

 

 

 

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. 

 

• Is rural Ireland being left behind?  “That is part of our culture and people don’t want a cultural change imposed upon them.” https://www.newstalk.com/news/its-not-disadvantaged-claim-rural-ireland-is-being-left-behind-is-a-myth-1615424

 

• ‘Work shouldn’t force you to the city’ – Developing rural Ireland : “Whether it’s in the country areas, whether it’s in farms, people should have a decision.” https://www.newstalk.com/news/work-shouldnt-force-you-to-the-city-developing-rural-ireland-1615254

 

• IRL: Investment and engagement needed for rural Ireland to thrive https://www.agriland.ie/farming-news/irl-investment-and-engagement-needed-for-rural-ireland-to-thrive/

 

• Challenges facing those who want to live in towns and villages across Carlow and Kilkenny: But Carlow was recently hailed an exemplar for how it’s dealing with vacancies and dereliction https://kclr96fm.com/challenges-facing-those-who-want-to-live-in-towns-and-villages-across-carlow-and-kilkenny/

 

• Mayo landowner loses appeal over council’s zoning of her property https://www.con-telegraph.ie/2023/11/15/mayo-landowner-loses-appeal-over-councils-zoning-of-her-property/

 

• Turf cutters appeal prosecutions under habitats protection law: Ireland is the subject of European infringement proceedings for allegedly failing to take action to halt peat cutting within certain areas of conservation https://www.irishexaminer.com/news/courtandcrime/arid-41271853.html

 

• Serious concerns for young people in rural Ireland from farming and rural community groups https://highlandradio.com/2023/11/18/serious-concerns-for-young-people-in-rural-ireland-from-farming-and-rural-community-groups/

 

 

 

CONSTRUCTION, MMC & DEVELOPMENT NEWS

• Government on course to exceed housing targets in 2023 and 2024, says Taoiseach: Output likely to exceed this year’s target of 29,000 units and next year’s 33,000 objective, says Government https://www.irishtimes.com/business/2023/11/14/government-on-course-to-exceed-housing-targets-in-2023-and-2024-taoiseach-says/

 

• BNP-https://www.irishrealestate.news/bnp-paribas-real-estate-ireland-construction-pmi-4/

 

• Also, Construction activity drops for a fourth straight month: Completions have been rising faster than commencements in recent months, causing the number of units under construction to edge lower https://www.irishexaminer.com/business/economy/arid-41267941.html

 

• An Bord Pleanála officials ‘restive’ over move to rename planning body: Plan to rebrand body An Coimisiún Pleanála is part of effort to restore confidence in planning system https://www.irishtimes.com/ireland/housing-planning/2023/11/14/an-bord-pleanala-officials-restive-over-move-to-rename-planning-body/

 

• Ireland round-up: ABP apologises over case backlog; Suspended sentence for Paul Hyde over property declaration failure https://www.theplanner.co.uk/2023/11/17/ireland-round-abp-apologises-over-case-backlogl-paul-hyde-given-suspended-sentence-and

 

• State strikes deal to subsidise largest private apartment project in Cork in more than a decade: The Housing Agency has revealed the first three deals under the Croí Cónaithe Cities scheme, which will deliver almost 400 for sale apartments on the open market https://www.businesspost.ie/news/state-strikes-deal-to-subsidise-largest-private-apartment-project-in-cork-in-more-than-a-decade/

 

• ‘Social value’ and ‘green procurement’ are the buzzwords to win you work https://m.independent.ie/business/commercial-property/social-value-and-green-procurement-are-the-buzzwords-to-win-you-work/a1918216156.html

 

• Sean Keyes on investing: Where the houses will go – Ireland needs to invest billions in infrastructure. Most of the benefits will go to landowners and developers. https://thecurrency.news/articles/133907/sean-keyes-on-investing-where-the-houses-will-go/

 

• Planners to consider 25-storey apartment tower in north Dublin docklands: New height guidelines could clear way for city’s tallest building to be built near 3Arena https://www.irishtimes.com/ireland/housing-planning/2023/11/12/planners-to-consider-25-storey-apartment-tower-in-north-dublin-docklands/

 

• Owner of Independent House and nuns fail in appeals against new land hoarding tax: An Bord Pleanála dismisses appeals against residential zoned land tax on former newspaper headquarters and south Dublin monasteries https://www.irishtimes.com/ireland/dublin/2023/11/13/owner-of-independent-house-and-nuns-fail-in-appeals-against-new-land-hoarding-tax/

 

• Green light given to redevelop Ballsbridge office block that previously housed Israeli embassy: Decision by An Bord Pleanála upholds planning permission granted by Dublin City Council in May 2022 https://www.irishtimes.com/business/2023/11/13/green-light-given-to-redevelop-ballsbridge-office-block-that-previously-housed-israeli-embassy/

 

• Pat Kenny among Dalkey residents granted leave for judicial review in nursing home planning row: Broadcaster is one of four locals protesting An Bord Pleanala’s decision to grant permission for a 104-bed nursing home https://www.businesspost.ie/news/pat-kenny-among-dalkey-residents-granted-leave-for-judicial-review-in-nursing-home-planning-row/

 

• Plans approved for 1,000-pupil school in Cork village – News of the council’s approval has been described as a ‘big milestone’ for the school https://www.echolive.ie/corknews/arid-41270515.html

 

• University of Limerick gets green light to turn old Dunnes Stores building into educational facility https://m.independent.ie/regionals/limerick/news/university-of-limerick-gets-green-light-to-turn-old-dunnes-stores-building-into-educational-facility/a1151899793.html

 

• Major new housing development planned for landmark Limerick site https://www.limerickleader.ie/news/home/1349654/major-new-housing-development-planned-for-landmark-limerick-site.html

 

• Housing plan at Limerick town’s old cinema rejected https://www.limerickleader.ie/news/home/1349349/housing-plan-at-limerick-towns-old-cinema-rejected.html

 

• ‘More time needed’ to build Galway student housing scheme https://connachttribune.ie/more-time-needed-to-build-galway-student-housing-scheme/

 

• Work starts on Traveller housing scheme in Galway https://connachttribune.ie/work-starts-on-traveller-housing-scheme-in-galway/

 

• Green light for large new primary care centre in Kilkenny https://www.kilkennypeople.ie/news/home/1347577/breaking-green-light-for-large-new-primary-care-centre-in-kilkenny.html

 

• Permission granted for thirty housing units in Kilkenny https://www.kilkennypeople.ie/news/property/1348503/permission-granted-for-thirty-housing-units-in-kilkenny.html

 

• New housing development for Kilkenny as planning granted for 53 units in Bonnetsrath https://m.independent.ie/regionals/kilkenny/news/new-housing-development-for-kilkenny-as-planning-granted-for-53-units-in-bonnetsrath/a902921902.html

 

• Kilkenny County Council open new €6 million housing development: The development consists of 25 new homes in Thomastown https://kclr96fm.com/kilkenny-county-council-open-new-e6-million-housing-development/#google_vignette

 

• New North Wicklow DART station begins construction  https://wicklownews.net/2023/11/new-north-wicklow-dart-station-begins-construction/

 

• An Bord Pleanála have delayed a decision regarding an appeal by developers against a refusal to allow their tourism development on Maghermore https://wicklownews.net/2023/11/maghermore-planning-decision-has-been-delayed/

 

• Minister officially opens new Tuath Housing development in Drogheda https://www.lmfm.ie/news/lmfm-news/minister-officially-opens-new-housing-development-in-drogheda/

 

• Kildare’s newest distillery effortlessly blends history with modernity – Church of Oak started as a 200-year-old former malthouse, converted by architect David O’Shea of ODOS into a contemporary facility that reflects both the old and a very modern Ireland https://www.businesspost.ie/property/kildares-newest-distillery-effortlessly-blends-history-with-modernity/

 

• Big new Laois housing estate planed for Portlaoise blocked: Permission overturned due to the size of homes planned https://www.leinsterexpress.ie/news/local-news/1350155/big-new-laois-housing-estate-planed-for-portlaoise-blocked.html

 

• Five-star Wexford nursing home site with sea views comes on the market https://m.independent.ie/regionals/wexford/news/five-star-wexford-nursing-home-site-with-sea-views-comes-on-the-market/a997099454.html

 

• Developer of second Rosslare direct provision centre must ‘cease and desist’ as ‘legal uncertainty’ arises: A meeting of over 800 local residents told that Wexford County Council has issued proceedings against development over planning ‘anomalies’ https://m.independent.ie/regionals/wexford/wexford-district/developer-of-second-rosslare-direct-provision-centre-must-cease-and-desist-as-legal-uncertainty-arises/a585941665.html

 

• ‘Families at breaking point’ over lack of four bedroom homes https://www.westmeathexaminer.ie/2023/11/13/families-at-breaking-point-over-lack-of-four-bedroom-homes/

 

• Work has recommenced but challenges remain for Tipperary housing development https://www.tipperarylive.ie/news/home/1345121/big-read-work-has-recommenced-but-challenges-remain-for-tipperary-housing-development.html

 

• Work begins on construction of new €59m community nursing unit in County Donegal https://m.independent.ie/regionals/donegal/news/work-begins-on-construction-of-new-59m-community-nursing-unit-in-county-donegal/a303637026.html

 

• Modular Home manufacturing plant could be established in Inishowen https://highlandradio.com/2023/11/17/modular-home-manufacturing-plant-could-be-established-in-inishowen/

 

• Planning granted for new democratic school in a Longford village  https://www.shannonside.ie/news/planning-granted-for-new-democratic-school-in-a-longford-village-232696

 

• Contractor who defrauded financing company out of €369,000 should be jailed, State tells appeal   https://m.independent.ie/irish-news/courts/contractor-who-defrauded-financing-company-out-of-369000-should-be-jailed-state-tells-appeal/a2025609909.html?

 

• Kavanagh brothers dispute back in High Court despite settlement three years ago https://m.independent.ie/business/irish/kavanagh-brothers-dispute-back-in-high-court-despite-settlement-three-years-ago/a624000669.html

 

• Woodie’s owner Grafton Group ‘resilient’ despite challenging markets https://m.independent.ie/business/irish/woodies-owner-grafton-group-resilient-despite-challenging-markets/a115909589.html

 

• CONCRETE company in County Limerick has become the first Irish firm to achieve a new British certification; Croom Concrete which supplies the building material to companies in Ireland and Britain, has been given a UK Conformity Assessed Marking https://www.limerickleader.ie/news/home/1349053/limerick-concrete-firm-cements-british-certification-deal.html

 

 

 

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

 

• Exploring the Future of Real Estate Investment: Key Trends and Predictions Shaping the Industry https://offplanpropertyexchange.com/news/the-future-of-real-estate-investment-trends-and-predictions-for-the-industry/43429/

 

• PropTech Today – Three undeniable benefits of utilising integrations within your techstack https://www.estateagenttoday.co.uk/breaking-news/2023/11/proptech-today–three-undeniable-benefits-of-utilising-integrations-within-your-techstack?source=newsticker

 

• Contech surpasses $30B in total venture funding: More construction technology providers will reach unicorn status even as venture capital slows in other sectors, according to an investment firm focused on the industry. https://www.constructiondive.com/news/contech-venture-funding-foundamental-katerra/699797/

 

• Extreme temperatures and vulnerable people: Why technology should be integrated into buildings https://www.pbctoday.co.uk/news/digital-construction-news/construction-technology-news/extreme-temperatures-vulnerable-people-technology-integrated-buildings/134746/

 

• Nector, an AI-powered platform that allows for faster commercial real estate loans, was one of 12 companies plucked for the Techstars NYC Accelerator, part of its winter 2023 class https://www.bizjournals.com/cincinnati/inno/stories/news/2023/11/17/nector-proptech-commercial-real-estate-techstars.html

 

• SIRE3D Elevates Construction Innovation with Acquisition of 25 Cutting-Edge 3D Printers from CyBe Construction https://newsroom.submitmypressrelease.com/2023/11/17/sire3d-elevates-construction-innovation-with-acquisition-of-25-cutting-edge-3d-printers-from-cybe-construction_812104.html

 

• Redpin launches to simplify payments across global property market https://ibsintelligence.com/ibsi-news/redpin-launches-to-simplify-payments-across-global-property-market/

 

• Matterport’s RJ Pittman Named Among Inman’s Top Proptech Entrepreneurs In 2023 https://finance.yahoo.com/news/matterport-rj-pittman-named-among-133400946.html

 

• These 6 Canadian Proptech Startups Have Raised Over $1.1B: From technology to 3D print homes to AI-driven realtor recommendation platforms…https://storeys.com/canadian-proptech-startups-funds/

 

• Process digitisation proptech Sitemate nabs another $7.5 million in pre-Series A – Startup Daily https://www.startupdaily.net/topic/funding/no-code-proptech-startup-sitemate-nabs-another-7-5-million-in-pre-series-a/

 

 

 

ENERGY, CLIMATE & ENVIRONMENT  

• Government has released the ‘Energy Security in Ireland to 2030’ report – the publication of which has been welcomed by Engineers Ireland. The report outlines a comprehensive strategy for the nation’s energy security https://www.engineersireland.ie/Engineers-Journal/News/publication-of-energy-security-in-ireland-to-2030-report-welcomed-by-engineers

 

• Wind energy set to play a crucial role in Ireland’s renewable future: Upbeat mood at Wind Energy Trade Show shows optimism in the sector, says Pádraig Hoare, Environment Correspondent https://www.irishexaminer.com/business/economy/arid-41270884.html

 

• Plans for large solar farm in Kilkenny appealed to An Bord Pleanála  https://www.kilkennypeople.ie/news/local-news/1349411/plans-for-large-solar-farm-in-kilkenny-appealed-to-an-bord-pleanala.html

 

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Average income of first-time buyers hits new record high: The average first-time buyer mortgage on existing properties now stands at €258,802, with the average for new properties up €30,000 to €315,000 compared to last year https://www.irishexaminer.com/business/economy/arid-41271781.html

 

• Something curious is happening in the Irish property market. Bucking age-old trends, house prices are dropping in Dublin and rising outside the capital. https://www.rte.ie/news/primetime/2023/1116/1416927-ballyhaunis-to-blackrock-the-local-take-on-new-house-price-stats/

 

• Is increase in rental supply a blip or the start of a trend? Daft.ie data suggests rental supply is rising but it is still some way off what you would expect in a properly functioning market, according to report author https://www.irishtimes.com/business/2023/11/14/is-increase-in-rental-supply-a-blip-or-the-start-of-a-trend/

 

• Home Truths: 10 reasons why we still have a housing crisis a decade later https://m.independent.ie/opinion/home-truths-10-reasons-why-we-still-have-a-housing-crisis-a-decade-later/a1553035592.html

 

• People who rent are now paying over €3,500 more per annum than mortgage holders: Renters in Dublin City Centre pay €8,359 more than mortgage holders. https://www.thejournal.ie/renters-paying-over-3500-more-per-year-6222135-Nov2023/

 

• Lack of homes available outside Dublin continues to drive up rents nationwide: Expert says rental stock will need to treble to meet demand https://m.independent.ie/business/irish/lack-of-homes-available-outside-dublin-continues-to-drive-up-rents-nationwide/a426862545.html

 

• Security of tenure is ‘key to a well-functioning private rental sector’ https://www.irishexaminer.com/news/arid-41270131.html

• Airbnb owners call for halt to regulation plans https://www.irishexaminer.com/news/arid-41268859.html

 

• How much to buy a home in six areas of Cork?  Nationally, the cost of purchasing a new home has increased by over 10% in the last year https://www.irishexaminer.com/news/munster/arid-41270095.html

 

• Rents in Cork city soar close to €2,000 a month: The rise has prompted calls for urgent action to freeze rents and increase housing supply. https://www.echolive.ie/corknews/arid-41268286.html

 

• Taoiseach confirms negotiations at advanced stage to take over apartments empty since 2005 in Cork town: The apartments, which comprise of a mix of one-bed, two-bedroom, and three-bedroom housing units, have remained empty since the complex opened in 2005 https://www.echolive.ie/corknews/arid-41271874.html

 

• What properties sold for in Galway city: A selection of the prices sought and paid in the current market https://www.irishtimes.com/property/residential/2023/11/15/what-properties-sold-for-in-galway-city/

 

• Rents rise by 15% in Galway in the last year  https://connachttribune.ie/rents-rise-by-15-in-galway-in-the-last-year/

 

• Supply of new student digs in Ireland slows sharply https://m.independent.ie/business/commercial-property/supply-of-new-student-digs-in-ireland-slows-sharply/a1416634392.html

 

• Historic childhood home of the 1st Duke of Wellington for sale at €3.1m: The ruins of Dangan Castle near Summerhill in Co Meath sit on 236 acres of tillage, grassland and forestry https://www.irishtimes.com/property/commercial-property/2023/11/15/historic-childhood-home-of-the-1st-duke-of-wellington-for-sale-at-31m/

 

• A look inside historic Mayo home which has survived lootings and troubled times in storied 225 years: Just-restored Knockglass House comes with 55 acres, including 17 outbuildings https://m.independent.ie/life/home-garden/homes/a-look-inside-historic-mayo-home-which-has-survived-lootings-and-troubled-times-in-storied-225-years/a270394023.html

 

• Rent in Kerry up 13.5% in the last 12 months https://www.radiokerry.ie/news/rent-in-kerry-up-13-5-in-the-last-12-months-356151

 

• 2024 Home Design Trends: 10 Leading Predictions From Houzz https://www.forbes.com/sites/terriwilliams/2023/11/16/2024-home-design-trends–these-are-the-top-10-predictions/?sh=6970466547e0

 

• Five of the best new must-read home interiors books: We check out the top titles to add to the shopping list when gift-hunting ahead of the festive season https://www.irishexaminer.com/property/homeandgardens/arid-41269519.html

 

 

 

COMMERCIAL PROPERTY NEWS

 

 

• Why Wall Street is selling Ireland’s best-known shopping malls – Three of the country’s best-known malls are up for sale and are likely to be bought at a big discount https://www.thetimes.co.uk/article/everything-must-go-at-irish-shopping-centres-nmfct5p9l

 

• M7 Real Estate seeks €12 per sq ft for upgraded industrial facility in Malahide: Newtown Hub has a gross floor area of 74,540sq ft and boasts a B1 Ber rating following significant improvement works https://www.irishtimes.com/property/commercial-property/2023/11/15/m7-real-estate-seeks-12-per-sq-ft-for-upgraded-industrial-facility-in-malahide/

 

• Private Irish investors closing in on €16m deal for Dublin’s Dawson Hotel: The 36-bedroom boutique hotel was home to famed La Stampa restaurant and Sam’s Bar prior to its closure https://www.irishtimes.com/property/commercial-property/2023/11/15/private-irish-investors-closing-in-on-16m-deal-for-dublins-dawson-hotel/

 

• Thai investor takes control of Brown Thomas and Arnotts: Central Group acquires additional equity in company behind department stores, giving it majority control of the Selfridges group https://www.irishtimes.com/business/2023/11/14/thai-investor-takes-control-of-brown-thomas-and-arnotts-from-austrian-billionaire/

 

• Dublin 4 office with potential for high-end residential seeks €2.1m: 80 Northumberland Road offers turnkey solution for corporate occupier or high-end home subject to planning permission https://www.irishtimes.com/property/commercial-property/2023/11/15/dublin-4-office-with-potential-for-high-end-residential-conversion/

 

• Fully fitted penthouse offices at Carrickmines Park seeking €2.9m: Third floor of the Iveagh building extends to nearly 13,000sq ft and comes for sale with 27 car-parking spaces https://www.irishtimes.com/property/commercial-property/2023/11/15/fully-fitted-penthouse-offices-at-carrickmines-park-seeking-29m/

 

• Judge directs parties to engage over defects in docklands office – ‘Extremely unpleasant and nauseous sulphurous-like smell’ throughout the building, Rabobank alleges https://www.irishtimes.com/business/2023/11/17/judge-directs-parties-to-engage-over-defects-in-state-of-the-art-docklands-office/

 

• Semiconductor firm Qualcomm to add 150 jobs in Cork: US firm’s €118.7m investment at city’s Penrose Dock https://www.irishexaminer.com/business/technology/arid-41268391.html?utm_source=dlvr.it

 

• Dispute over alleged failure of Dunnes Stores to reopen Merchant’s Quay store settled https://www.irishexaminer.com/news/courtandcrime/arid-41268670.html

 

• Green light for new café at vacant shopping centre unit https://www.galwaydaily.com/news/green-light-for-new-cafe-at-vacant-shopping-centre-unit/

 

• Green light for new lease on life for vacant Tuam pub https://www.galwaydaily.com/news/green-light-for-new-lease-on-life-for-vacant-tuam-pub/

 

• An Bord Pleanala clears way for new Boyle Sports betting shop in Athenry https://galwaybayfm.ie/galway-bay-fm-news-desk/an-bord-pleanala-clears-way-for-new-boyle-sports-betting-shop-in-athenry/

 

• Permission granted to convert ex-Argos unit in Kilkenny https://www.kilkennypeople.ie/news/local-news/1348264/permission-granted-to-convert-ex-argos-unit-in-kilkenny.html

 

• Griffin hotel group says ‘relentless rise’ in interest rates behind drop in profit: Operator of Monart Destination Spa and Ferrycarrig Hotel in Co Wexford, as well as nearby Hotel Kilkenny, sees profits fall by a third https://www.irishtimes.com/business/2023/11/14/hotel-group-says-relentless-rise-in-interest-rates-behind-drop-in-profit/

 

• ‘The Park is magnificent . . . my role now is to not screw it up,’ says hotel’s new owner: Evolution not revolution is on the menu for Bryan Meehan, who has taken over the well known Kenmare establishment https://www.businesspost.ie/news/the-park-is-magnificent-my-role-now-is-to-not-screw-it-up-says-hotels-new-owner/

 

 

• Coillte seeking planning for new offices in Mayo county town https://www.con-telegraph.ie/2023/11/18/coillte-seeking-planning-for-new-offices-in-mayo-county-town/

 

• The Irish Times Business Person of the Month: Dermot Crowley, chief executive of Dalata Hotel Group; In October, the company announced that it had acquired a site for a hotel in Edinburgh, just weeks after it signed a deal for a hotel in Amsterdam https://www.irishtimes.com/business/2023/11/17/the-irish-times-business-person-of-the-month-dermot-crowley-chief-executive-of-dalata-hotel-group/

 

 

 

INTERNATIONAL PROPERTY NEWS

• Final Help to Buy data released by government: Government has published its final set of statistics related to the Help to Buy equity loan scheme. According to the data, between 1 April and 31 May 2023, 106 properties were bought with an equity loan, down 99% from the same period in 2022. https://propertyindustryeye.com/final-help-to-buy-data-released-by-government/

 

• UK Construction starts to shrink by a fifth this year https://www.constructionnews.co.uk/sections/data/construction-starts-to-shrink-by-a-fifth-this-year-14-11-2023/

 

• Galliard Homes JV to build out 12-tower Greenwich site https://www.constructionenquirer.com/2023/11/13/galliard-homes-jv-to-build-out-12-tower-greenwich-site/ Also, Galliard sets aside £31m for building safety work https://www.constructionenquirer.com/2023/11/15/galliard-sets-aside-31m-for-building-safety-work/

 

• Barbara Corcoran got $46 million extra for her property empire simply because she wouldn’t accept bids below her lucky number https://fortune.com/2023/11/13/barbara-corcoran-46-million-extra-property-empire-accept-bids-below-lucky-number/

 

 

 

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/