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: 

 

• Govt urged to prioritise ending child homelessness https://www.rte.ie/news/ireland/2021/1119/1262041-un-world-childrens-day/

 

• How do people feel about this? ‘Little chance of construction industry being made to pay towards mica redress: Coalition concerned that cost of any levy would be passed directly on to consumers’ https://www.irishtimes.com/news/ireland/irish-news/little-chance-of-construction-industry-being-made-to-pay-towards-mica-redress-1.4728551

 

• O’Brien understood to be reluctant to sign off on new mica redress scheme if cap is set at less than €400k: Sources say the Housing Minister is also insisting that rental homes should be included https://www.businesspost.ie/houses/obrien-understood-to-be-reluctant-to-sign-off-on-new-mica-redress-scheme-if-cap-is-set-at-less-than-eur400k-64ea7d3e 

 

• Housing debate dominated by irrational solutions and nonsense private sector critiques: Demonising crucial institutional investors will not improve supply https://www.irishtimes.com/business/construction/housing-debate-dominated-by-irrational-solutions-and-nonsense-private-sector-critiques-1.4727101

 

• On a global level: Hostility towards private equity’s push into property is misguided: Big investors are filling a gap in the market https://www.economist.com/leaders/2021/11/20/hostility-towards-private-equitys-push-into-property-is-misguided

 

• ‘Demonised’ funds say they are part of solution as rental crisis deepens: The property sector is increasingly voicing its anger at negative [*and incorrect] terms, while opposition to the build-to-rent model is painted as irrational. But will the large number of apartments in the pipeline really solve the problem of high rents? https://www.businesspost.ie/houses/demonised-funds-say-they-are-part-of-solution-as-rental-crisis-deepens-eeddb9c2

 

• If property funds fall out of love with Ireland, we will be left bereft: Signs are that Reits and other investors are washing their hands of our inhospitable property market. If they go, who will back the huge building boost needed to offset our housing crisis? https://www.businesspost.ie/construction/ian-guider-if-property-funds-fall-out-of-love-with-ireland-we-will-be-left-bereft-2ff9be3e

 

• Foreign investors are neither ‘vultures’ nor ‘cuckoos’, and should be welcomed: There’s lots of anti-business feeling about lately, but large-scale build-to-rent developments, paid for by foreigners, are exactly what Ireland needs right now: https://www.businesspost.ie/houses/foreign-investors-are-neither-vultures-nor-cuckoos-and-should-be-welcomed-cfbbd910

 

• Donohoe told EU politician housing crisis a key risk to economy: Finance minister made comments during meeting with EU Economy Commissioner Paolo Gentiloni ahead of corporation tax reform  https://www.businesspost.ie/houses/donohoe-told-eu-politician-housing-crisis-a-key-risk-to-economy-dff76b0e

 

• Burke asked Dept of Housing to find ‘flaws’ in ESRI report: The minister’s office requested talking points to refute or contradict the findings of the ESRI report, which said the state could borrow billions to build social housing  https://www.businesspost.ie/houses/burke-asked-dept-of-housing-to-find-flaws-in-esri-report-a85b1294

 

• ‘Our houses are crumbling down around us’: Homeowners in Ireland protest against mica damage  https://amp.observers.france24.com/en/europe/20211117-ireland-houses-crumbling-mica-protest-redress

 

• Address by Minister Peter Burke to The Irish Planning Institute National Planning Conference  https://www.gov.ie/en/speech/af001-address-by-minister-peter-burke-to-the-irish-planning-institute-national-planning-conference/#

 

• Climate forum hears about State’s precarious data centre agenda: Huge electricity consumers may compromise ‘small isolated grid’ and drive emissions  https://www.irishtimes.com/news/environment/climate-forum-hears-about-state-s-precarious-data-centre-agenda-1.4732729

 

• Drowning Dublin: can the capital keep its head above water? Flooding is prime climate change risk for the city with up to 20,000 buildings at risk https://www.irishtimes.com/news/environment/drowning-dublin-can-the-capital-keep-its-head-above-water-1.4728486

 

• A Government backed housing scheme for the over 60’s has just launched a call for expressions of interest for 2022  https://seniortimes.ie/launch-of-new-housing-scheme-gives-homes-a-second-life/

 

• A once-off wealth tax is the wrong solution to Ireland’s funding problems: Such a short-term tax will not be sufficient to plug the long-term holes in public finances https://www.irishtimes.com/business/economy/a-once-off-wealth-tax-is-the-wrong-solution-to-ireland-s-funding-problems-1.4728501

 

• Three sets of lawyers failed to notice property sale had not gone through: Payment for Co Kildare house ‘inadvertently’ sat in account of buyer’s solicitor for years https://www.irishtimes.com/news/crime-and-law/courts/high-court/three-sets-of-lawyers-failed-to-notice-property-sale-had-not-gone-through-1.4732611

 

• Activist campaigner Joanne O’Riordan swayed all that she surveyed at SCSI annual event: Chartered Surveyors held physical event with restricted numbers after a year of virtual contacts  https://www.irishexaminer.com/property/commercial/arid-40746816.html

 

• How a shifting demographic is transforming the face of construction across Northern Ireland  https://www.buildersmerchantsnews.co.uk/How-a-shifting-demographic-is-transforming-the-face-of-construction-across-Northern-Ireland-/51902

 

• Wind energy: Why is Ireland not fulfilling its potential? Onshore wind is the cheapest renewable form here but planning is ‘fragmented’ https://www.irishtimes.com/news/science/wind-energy-why-is-ireland-not-fulfilling-its-potential-1.4729335

 

• ‘It’s disappearing at an alarming rate’ — farmers fearful of coastal erosion  https://www.irishexaminer.com/news/arid-40744734.html 

 

• Banks criticised for ‘refusing to finance cargo container homes’: Cheaper form of housing made of recycled shipping containers has become popular due to housing crisis https://www.businesspost.ie/houses/banks-criticised-for-refusing-to-finance-cargo-container-homes-d974ad11 (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.

Watch back: https://youtu.be/vmo5JbjKC0g

 

Wach back: https://youtu.be/84RBfzWay_8

 

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

Email the Property Matters team at info@propertydistrict.ie 

 

PLACEMAKING

PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT

• David McWilliams: Stop hiding behind faux arguments when objecting to new homes: Need to increase housing supply outweighs any Nimby complaints about developments https://www.irishtimes.com/opinion/david-mcwilliams-stop-hiding-behind-faux-arguments-when-objecting-to-new-homes-1.4732408

 

• Fingal County Council has adopted a spending plan of around €300m for 2022 which it says will “help deliver improved services and see support remain in place to help reenergise economic development in a post-Covid environment”  https://m.independent.ie/regionals/dublin/fingal/fingal-county-council-passes-massive-300-million-new-budget-41053845.html

 

• Heuston masterplan: Area to be ‘largely car-free’, with more than 1,000 residential units: Plans include improved public transport provision and cycling infrastructure  https://www.irishtimes.com/news/ireland/irish-news/heuston-masterplan-area-to-be-largely-car-free-with-more-than-1-000-r

 

• Giant screens to form Living Canvas for Irish and international artists: Irish property firm Iput has collaborated with leading cultural institutions to bring first-of-a-kind outdoor exhibition space to Dublin https://www.businesspost.ie/commercial/giant-screens-to-form-living-canvas-for-irish-and-international-artists-8f0c1c7e 

 

• 8 Dublin street artists you need to be following  https://lovindublin.com/best-of/seven-dublin-street-artists-you-need-to-be-following

 

• Cathaoirleach of Meath County Council, Cllr. Seán Drew welcomed An Taoiseach Micheál Martin to the Royal County to officially open the new homes at Gort Fionnbarra, delivered by Tuath Housing, in partnership with Meath County Council.  https://www.irishrealestate.news/taoiseach-officially-opens-new-homes-in-county-meath/ (pictured)

 

• ‘The amount of vacant housing all over Cork City… it defies logic’ : Residents of Rathmore Park gathered to protest at the number of vacant council houses in the area  https://www.irishexaminer.com/news/munster/arid-40745070.html

 

• Cork community rallies as Coillte look to sell much-loved 22-acre woods: A recent attempt to sell off woodland in Wicklow was stopped after pressure from the local community https://www.corkbeo.ie/news/local-news/cork-community-rallies-coillte-look-22167138

 

• Cork city walk and cycleway gets a €900k upgrade  https://www.echolive.ie/corknews/arid-40742850.html

 

 

• Family relocation: From city terraced house to spacious rural new-built home  https://www.irishtimes.com/life-and-style/homes-and-property/family-relocation-from-city-terraced-house-to-spacious-rural-new-built-home-1.4730351 

 

• A review of the Galway Transport Strategy will take place next year – and the Minister for Transport has confirmed it will include a feasibility study for a light rail system.  https://connachttribune.ie/review-of-public-transport-in-galway-to-take-place-next-year/

 

• Decision on ring road proposal pushed out again  https://connachttribune.ie/decision-on-ring-road-proposal-pushed-out-again/

 

• It can feel like the world’s most spectacular wilderness; the savage beauty of Connemara: Pines island on Derryclare Lough in Connemara. Connemara has inspired film crews, writers and maharajahs with its wild mountains and endless expanses of sky and sea (pictured below) https://www.theguardian.com/travel/2021/nov/17/it-can-feel-like-the-worlds-most-spectacular-wilderness-the-savage-beauty-of-connemara

 

• Limerick on the Rise: Treaty City’s ‘can do’ attitude – Limerick 2030, sees an overwhelming desire for greater work-life balance spurring people to move towards the regions, out of the Dublin rat-race. Something his city is taking full advantage of  https://www.irishexaminer.com/news/spotlight/arid-40748079.html

 

• Development of serviced sites suggested to save rural Clare from ‘fatal’ policies – “Persons wishing to live in these communities would play “a central part of the regeneration and revival of our rural towns and villages” https://www.clareecho.ie/development-of-serviced-sites-suggested-to-save-rural-clare-from-fatal-policies/

 

 

*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

 

• Dublin cranes flying close to all-time record on building sites: A crane count by the Construction Industry Federation puts the number of cranes at work across Dublin at 120, while in Cork city, there are just 19 https://www.businesspost.ie/construction/dublin-cranes-flying-close-to-all-time-record-on-building-sites-04aa86cc

 

• Construction now part of  precarious ‘gig’ economy: Young people are reluctant to enter a sector with boom-bust bouts of unemployment and bogus self-employment, but a State agency would counter this  https://www.irishexaminer.com/opinion/commentanalysis/arid-40744002.html

 

• Construction worker shortage could derail ambitious NDP plans: Government unveiled €165bn roadmap last month https://m.independent.ie/business/irish/construction-worker-shortage-could-derail-ambitious-ndp-plans-41063389.html

 

• Extra 30,000 building workers needed to hit ‘housing, climate’ targets: Budgetary watchdog warns about the inflationary impact of Coalition spending plans https://www.irishtimes.com/business/economy/extra-30-000-building-workers-needed-to-hit-housing-climate-targets-1.4731485

 

• Construction course changing the lives of long-term unemployed men in Dublin: A lot of trainees have spent time in addiction services, homelessness, insecure housing and prison  https://www.dublinlive.ie/news/dublin-news/construction-course-changing-lives-long-22217425

 

• Cop26: Construction industry must embrace sweeping changes – and fast: Sector is responsible for 40% of all CO2 emissions. The big question: where to start? https://www.irishtimes.com/business/commercial-property/cop26-construction-industry-must-embrace-sweeping-changes-and-fast-1.4730235

 

• Forestry Minister wants timber to play ‘a big part’ in Ireland’s construction future  https://www.leitrimobserver.ie/news/national-news/693436/forestry-minister-wants-timber-to-play-a-big-part-in-ireland-s-construction-future.html

 

• Disappointing survey findings: Scotland and Ireland have ‘least trustworthy’ tradespeople  https://constructionglobal.com/facilities-management/scotland-and-ireland-have-least-trustworthy-tradespeople

 

• Omniplex invests €11m in Ballinasloe, Mullingar and Nenagh cinemas: Family-owned group also plans nine-screen cinema in Belfast’s CastleCourt centre https://www.irishtimes.com/business/media-and-marketing/omniplex-invests-11m-in-ballinasloe-mullingar-and-nenagh-cinemas-1.4732596

 

• Land Development Agency courts developers with forward-purchase housing deals: Project Tosaigh aims to speed up delivery of new, affordable homes on lands that already have planning permission https://www.businesspost.ie/houses/land-development-agency-courts-developers-with-forward-purchase-housing-deals-21901d02

 

• Johnny Ronan group records €30.34m loss after property writedown  https://www.breakingnews.ie/ireland/johnny-ronan-grpup-records-e3034m-loss-after-property-writedown-1215849.html

 

• Dublin Port plans €400m development on Poolbeg peninsula: Project to include construction of private road and bridge spanning the river Liffey https://www.irishtimes.com/business/dublin-port-plans-400m-development-on-poolbeg-peninsula-1.4731543

 

• A new bridge for the capital: Dublin Port Company unveils latest plans to transform region: Construction is due to begin in 2026.  https://www.thejournal.ie/new-bridge-for-the-capital-5605041-Nov2021/

 

• With the queue for homes growing, why has Glenveagh opted to return €100m to shareholders? Glenveagh is backing out of its ambitious PRS projects and selling down sites. The question is, why is it handing cash back to shareholders rather than reinvesting in home building?  https://thecurrency.news/articles/66354/with-the-queue-for-homes-growing-why-has-glenveagh-opted-to-return-e100m-to-shareholders/

 

• Blackstone eyes €400m purchase of stake in Facebook’s Dublin 4 HQ: US investor in ‘pole position’ for four blocks at social media giant’s Ballsbridge campus  https://www.irishtimes.com/business/commercial-property/blackstone-eyes-400m-purchase-of-stake-in-facebook-s-dublin-4-hq-1.4733429 (pictured)

 

• North Dublin site with planning for 1,823 homes on the market for €50m: Shovel-ready site has planning for a hotel, office accommodation and retail space https://www.irishtimes.com/business/commercial-property/north-dublin-site-with-planning-for-1-823-homes-on-the-market-for-50m-1.4730247

 

• Japan’s Kajima enters build-to-rent market with Dublin site  https://www.thetimes.co.uk/article/japan-kajima-enters-build-to-rent-market-dublin-site-ht5wsh0vq

 

• Council recommends refusal for Dun Laoghaire 276-unit student scheme: Planners say Baker’s Corner development would be visually overbearing https://www.irishtimes.com/business/construction/council-recommends-refusal-for-dun-laoghaire-276-unit-student-scheme-1.4732489 (pictured)

 

• Nuveen JV buys site for 700-home Dublin BTR project – Real Asset Insight https://realassetinsight.com/2021/11/17/nuveen-jv-buys-site-for-build-to-rent-dublin-project/

 

• Industry event hears Ireland a data centre hotspot  https://amp.rte.ie/amp/1261591/

 

• Amazon’s plans for two Dublin data centres meet with opposition: Colliers Properties has made application for Amazon-operated centres in Clonshaugh https://www.irishtimes.com/business/commercial-property/amazon-s-plans-for-two-dublin-data-centres-meet-with-opposition-1.4729557

 

• Iconic Stillorgan toy shop reaches for the sky with plans for new generation: Nimble Fingers seeks planning to build four apartments over expanded retail unit https://www.irishtimes.com/business/commercial-property/iconic-stillorgan-toy-shop-reaches-for-the-sky-with-plans-for-new-generation-1.4726832

 

• Louis Fitzgerald seeking to rezone land for housing  https://www.echo.ie/louis-fitzgerald-seeking-to-rezone-land-for-housing/

 

• Teeling Whiskey opposes nine-storey Dublin apartment scheme: Proposed D8 development would include 33 units, but labelled ‘excessive’ by whiskey firm  https://www.irishtimes.com/business/agribusiness-and-food/teeling-whiskey-opposes-nine-storey-dublin-apartment-scheme-1.4731523

 

• Bord Pleanála refuses permission for 686 units: Proposed Santry and Kildare schemes refused due to planning documentation defects https://www.irishtimes.com/business/commercial-property/bord-plean%C3%A1la-refuses-permission-for-686-units-1.4729495

 

• Builders criticise barriers to development in the Cork region: Fiscal Council also warns of a shortage of construction workers to meet Development Plan targets  https://www.irishexaminer.com/business/economy/arid-40746759.html

 

• Developers in Cork scramble to get in ahead of fast-track planning deadline: Commercial investment activity in the city was relatively quiet in the third quarter, but the retail rental market is picking up https://www.businesspost.ie/commercial/developers-in-cork-scramble-to-get-in-ahead-of-fast-track-planning-deadline-ddc457c5

 

• Cork County Board seeks planning permission for 309 homes: Planned scheme is made up of 197 houses, 112 apartments, a creche, and associated works for Cork GAA lands on Old Whitechurch Rd, Kilbarry  https://www.irishexaminer.com/property/planning/arid-40747254.html

 

• 95 apartments to be delivered in Cork town; First tranche to be available by March  https://www.echolive.ie/corknews/arid-40744722.html

 

• Praise for Cork airport runway ‘on time, on budget’ project  https://www.echolive.ie/corknews/arid-40744680.html

 

• Cork Entrepreneur Pursues Plans To Open Beach Coffee Dock | Hospitality Ireland https://www.hospitalityireland.com/restaurant/cork-entrepreneur-pursues-plans-to-open-beach-coffee-dock-153922

 

• Six storey apartment building planned for derelict site in Limerick city  https://www.limerickleader.ie/news/planning/691964/six-storey-apartment-building-planned-for-derelict-site-in-limerick-city.html?utm_source=newsshowcase&utm_medium=discover&utm_campaign=CCwQrIzR_9eC-_1sGLTYh6XtuNmenAEqRAgwENCCqbLYo8SymwEYoc71gIT-mfW4ASoqCAAiEAzvd6lsLi69XVn88BTXvOYqFAgKIhAM73epbC4uvV1Z_PAU17zm&utm_content=related

 

• ALDI have unveiled plans to build a new €11.5 million store in Dooradoyle  https://www.limerickleader.ie/news/home/694736/breaking-aldi-to-open-new-store-in-limerick-creating-30-jobs.html

 

• Planning permission approved for 91-home development in Tramore  https://www.wlrfm.com/news/tramore-housing-development-220716

 

• Green light for 69 new homes and creche at Straffan, Co Kildare  https://www.leinsterleader.ie/news/north-kildare/696419/green-light-for-69-new-homes-and-creche-at-straffan-co-kildare.html

 

• PROPOSAL to construct 35 houses at the rear of an unfinished housing estate in Tullow looks dead in the water following a ruling by An Bord Pleanála https://carlow-nationalist.ie/2021/11/19/abp-rejects-plan-to-build-35-houses-in-tullow/

 

• Planning permission sought to construct over 50 homes in Listowel  https://www.radiokerry.ie/news/planning-permission-sought-to-construct-over-50-homes-in-listowel-258853

 

• Ballinamuck housing estate extension gets green light  https://www.shannonside.ie/news/ballinamuck-housing-estate-extension-gets-green-light-193391

 

• Council grants planning permission for €6m Lidl store in Tubbercurry  https://m.independent.ie/regionals/sligochampion/business/council-grants-planning-permission-for-6m-lidl-store-in-tubbercurry-41051386.html

 

• Glenveagh Properties to buy back further €100m of shares after dockland sales: Repurchase programme follows on from the group having completed its first share buyback scheme last month  https://www.irishtimes.com/business/commercial-property/glenveagh-properties-to-buy-back-further-100m-of-shares-after-dockland-sales-1.4730022

 

• Successful careers for women in construction at one of the country’s top retailers: As one of Lidl’s most senior construction managers, Dubliner Sorcha Hynes explains what it’s like to flourish in a historically male dominated industry https://www.irishtimes.com/sponsored/lidl/successful-careers-for-women-in-construction-at-one-of-the-country-s-top-retailers-1.4722742?mode=amp

 

• Property developer Bernard McNamara to keep €6.1m pension despite debts: Businessman’s premium protected under UK law in spite of €1bn owed to Nama, EU court rules  https://m.independent.ie/business/irish/property-developer-bernard-mcnamara-tokeep61m-pension-despite-debts-41051577.html

 

• The Profile: Paddy McKillen jr – The enigmatic developer is seeing his Press Up group go from strength to strength on the Dublin nightlife and hospitality scene – but not everybody is happy about it https://www.businesspost.ie/profile/the-profile-paddy-mckillen-jr-6bde50b9

 

• Mac Group sets sights on data centres as part of post-Covid recovery: The Newry-based specialist builder is optimistic about future prospects, with £120 million of confirmed projects in the pipeline https://www.businesspost.ie/commercial/mac-group-sets-sights-on-data-centres-as-part-of-post-covid-recovery-dc4f3749

 

• Construction firm in Tyrone closes after almost 70 years  https://wearetyrone.com/news/construction-firm-in-tyrone-closes-after-almost-70-years/

 

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 * 

 

• Virtual staging reveals a potential dream home in the making: A two-bed apartment at 225 Richmond Court in Dartry, Dublin 6 has had the star treatment online, allowing the buyer to appreciate its true potential  https://www.businesspost.ie/residential/virtual-staging-reveals-a-potential-dream-home-in-the-making-c57b716a

 

• Organised by itag (Innovation Technology AtlanTec Gateway ), the AI Summit is a free, virtual event on November 25, and is open to anyone working in the tech sector or having an interest in the field of artificial intelligence.  https://www.advertiser.ie/galway/article/125805/galway-tech-professionals-encouraged-to-attend-free-artificial-intelligence-summit

 

• A new round of funding aimed at encouraging collaborations between industry and the research sector on the development and commercialisation of ground-breaking technologies has been launched https://amp-rte-ie.cdn.ampproject.org/c/s/amp.rte.ie/amp/1258569/

 

• Construction firm Modubuild to create 100 new jobs in Kilkenny: New roles will be in areas such as design, engineering, project management, IT and R&D  https://www.irishtimes.com/business/construction/construction-firm-modubuild-to-create-100-new-jobs-in-kilkenny-1.4730725

 

• Online grocery shopping still to take off in Irish market:  Sales in online grocery sector here are well behind other countries, such as Britain https://www.irishtimes.com/business/retail-and-services/online-grocery-shopping-still-to-take-off-in-irish-market-1.4729565

 

• Dublin proptech Lintil raises €250,000 to fund UK debut https://www.siliconrepublic.com/start-ups/lintil-funding-enterprise-ireland-uk-proptech

 

• It’s a case of adapt and improve: ‘The opportunities are huge for companies who recognise the value of ESG’ says Eoin Leonard, founder and CEO at i3PT.  https://www.businesspost.ie/commercial-reports/its-a-case-of-adapt-and-improve-aa14b390

 

• Agents – you think on-boarding should be easier, a survey claims  https://www.estateagenttoday.co.uk/breaking-news/2021/11/agents–you-think-on-boarding-should-be-easier-a-survey-claims

 

• New PropTech tool chases rent payments automatically  https://www.lettingagenttoday.co.uk/breaking-news/2021/11/new-proptech-tool-chases-rent-payments-automatically?source=newsticker

 

• What is smart building technology worth to the market? Surveyed stakeholders want intelligent benefits, but perhaps not in the priority order one might expect. Spoiler alert: The obstacle to adoption remains money, money, money   https://www.ledsmagazine.com/blogs/article/14214312/what-is-smart-building-technology-worth-to-the-market 

 

• Smart Buildings Are Stupid Hard. Here’s How To Fix Them https://www.forbes.com/sites/johnkoetsier/2021/11/17/smart-buildings-are-stupid-hard-heres-how-to-fix-them/amp/

 

• Autodesk Seeks Growth Through New Uses Of Its Platforms And Unified Data Management  https://www.forbes.com/sites/jimvinoski/2021/11/18/autodesk-seeks-growth-through-new-uses-of-its-platforms-and-unified-data-management/amp/ (pictured)

 

• JCB has unveiled a new rotating telehandler designed very much with ‘modern methods of construction’ in mind.  https://www.theconstructionindex.co.uk/news/view/reaching-new-heights?amp=1

 

• Could 3D Printing Be the Future of Construction?: 3D printers could solve the problem of housing shortages. https://interestingengineering.com/video/could-3d-printing-be-the-future-of-construction

 

• MetroHome – Reframing the Co-Living Model for Digital Nomads https://www.baystreet.ca/stockstowatch/11718/Reframing-the-Co-Living-Model-for-Digital-Nomads

 

• What Commercial Real Estate Needs To Know About Virtual Showcasing https://www.forbes.com/sites/forbestechcouncil/2021/11/18/what-commercial-real-estate-needs-to-know-about-virtual-showcasing/

 

• Barcelona-based proptech startup Zazume bags €2.5 million to digitise rental management | EU-Startups https://www.eu-startups.com/2021/11/barcelona-based-proptech-startup-zazume-bags-e2-5-million-to-digitise-rental-management/

 

• Homebase raises $30M to help more people in Southeast Asia become property owners (similar to Ireland’s state shared-equity scheme) https://techcrunch.com/2021/11/14/homebase-raises-30m-to-help-more-people-in-southeast-asia-become-property-owners/

 

• Seattle appraisal startup Aloft lands $20M from real estate heavyweights  https://www.geekwire.com/2021/seattle-based-appraisal-startup-aloft-lands-20m-from-real-estate-heavyweights/

 

• Level raises $100M and acquires a smart apartment company  https://staceyoniot.com/level-raises-100m-and-acquires-a-smart-apartment-company/

 

• Profitable proptech Place raises $100M at a $1B valuation as Goldman Sachs leads its first round of funding | TechCrunch https://techcrunch.com/2021/11/17/place-a-profitable-real-estate-tech-startup-raises-100m-as-goldman-sachs-leads-its-first-round-of-funding/

 

• A beginner’s guide to the #metaverse (and making money in it): “When we really can co-create… it will really explode.” https://sifted.eu/articles/metaverse-what-is-it-guide/

 

• IoT value set to accelerate through 2030: Where and how to capture it https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/iot-value-set-to-accelerate-through-2030-where-and-how-to-capture-it

 

• Six Ways Digital Twin Technology Helps Leaders Make Better Decisions  https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2021/11/12/six-ways-digital-twin-technology-helps-leaders-make-better-decisions/?sh=805e91759bbe

 

• Top IoT Startups of 2021  https://techround-co-uk.cdn.ampproject.org/c/s/techround.co.uk/startups/top-iot-startups-of-2021/amp

 

• Hilti Acquires Fieldwire for $300M in Major Proptech Deal  https://commercialobserver.com/2021/11/hilti-acquires-fieldwire-proptech/#.YZPdDykXHG4.twitter

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Property prices jump 12.4% in year to September – CSO https://amp.rte.ie/amp/1259999/

 

• Hate to burst your bubble, but property prices in Ireland are likely to keep on rising https://www.thetimes.co.uk/article/burst-your-bubble-property-prices-in-ireland-keep-rising-comment-dpd772fhr

 

• ‘Exceptional’ growth in house prices signals ‘a bumpy ride’ for homebuyers  https://www.irishexaminer.com/news/arid-40745031.html

 

• It’s bad in the new homes market but worse in second-hand market https://m.independent.ie/business/irish/its-bad-in-the-new-homes-market-but-worse-in-second-hand-market-41071171.html

 

• What do house hunters want most? https://propertyindustryeye.com/what-do-house- hunters-want-most/ 

1. Size of property – 23%
2. Broadband quality – 20%
3. Number of bedrooms – 18%
4. Age of property – 10%
5. Access to transport – 9% 

 

• Irish mortgage rates still second highest in Eurozone despite slight fall  https://www.breakingnews.ie/amp/ireland/irish-mortgage-rates-still-second-highest-in-eurozone-despite-slight-fall-1211542.html

 

 

• Proposed changes to the way family loans are treated as gifts for the purpose of tax were rowed back on at the eleventh hour, but is there change coming and is Revenue about to focus more closely on how money is transferred within families? https://amp.rte.ie/amp/1262167/

 

• Irish mortgage providers leave remote staff high and dry: Workers’ dreams of buying a home away from Dublin hang in the balance because of bank protocols  https://www.thetimes.co.uk/article/irish-mortgage-providers-leave-remote-staff-high-and-dry-d970t080k

 

• Ireland top location for most affordable homes in the world, survey finds:  Ireland has been named among the top 20 most affordable countries to buy a home. https://www.irishcentral.com/news/ireland-top-location-most-affordable-homes-in-the-world.amp

 

• Trading up? This is why it’s so hard to do – and how to make it easier  https://www.irishtimes.com/life-and-style/homes-and-property/trading-up-this-is-why-it-s-so-hard-to-do-and-how-to-make-it-easier-1.4727187?mode=amp

 

• New bill will cap rent at 2% in Rent Pressure Zones and bring in unlimited-term tenancies: The new legislation also proposes to provide enhanced tenancy protection by making a ‘Part 4’ tenancy one of unlimited duration.  https://www.thejournal.ie/rent-cap-affordable-housing-new-bill-rent-pressure-zone-5603171-Nov2021/

 

• A change allowing indefinite rental tenancies will be in law by the end of the year.  https://www.newstalk.com/news/renters-will-soon-have-to-be-offered-property-back-on-same-terms-after-major-refurbishment-obrien-1278969

 

• UK arms firm strikes housing lease deal with Dublin council: BAE Systems pension fund to lease recently-acquired family homes for social housing https://www.irishtimes.com/news/ireland/irish-news/uk-arms-firm-strikes-housing-lease-deal-with-dublin-council-1.4730697

 

• Inside Ireland’s rental crisis: Policy failures, construction costs and the ‘magic number’ when supply meets demand. In an in-depth analysis of Ireland’s rental market, Ronan Lyons charts how many properties must be built to curb spiralling rents. Demographic data also reveals what type of properties must be built, and where they should be be located.  https://thecurrency.news/articles/66252/inside-irelands-rental-crisis-policy-failures-construction-costs-and-the-magic-number-when-supply-meets-demand/

 

• Undersupply or undercounting: Is supply really that low in the Dublin rental market?  https://www.irishtimes.com/life-and-style/homes-and-property/undersupply-or-undercounting-is-supply-really-that-low-in-the-dublin-rental-market-1.4730268?mode=amp

 

• Olympic star Taylor leasing investment properties to DCC for social housing: The boxing gold medallist purchased the three properties in 2020, and they are worth a total of €754,000 https://www.businesspost.ie/houses/olympic-star-taylor-leasing-investment-properties-to-dcc-for-social-housing-0dd882ad (pictured) 

 

• Half of South Dublin County Council’s budget for housing ‘going on rent’: Councillors express concern about level of rent assistance payments and [*investment funds] https://www.irishtimes.com/news/ireland/irish-news/half-of-south-dublin-county-council-s-budget-for-housing-going-on-rent-1.4732686

 

• Just one rental property available for a single person within HAP limits https://www.irishexaminer.com/news/arid-40746639.html

 

• The vast majority of landlords only own one or two properties: Half of all landlords earn less than €10,000 on their investments after allowable expenses  https://www.irishtimes.com/business/personal-finance/the-vast-majority-of-landlords-only-own-one-or-two-properties-1.4731614

 

• More than half of landlords had rental income below €10,000 in 2019: CSO report finds less than 5% of Republic’s rental properties built in the last 10 years  https://www.irishtimes.com/business/economy/more-than-half-of-landlords-had-rental-income-below-10-000-in-2019-1.4731212

 

• Living sector can offer a safe home for your money: The housing sector has expanded in the past decade to account for a quarter of the global property market. For investors, JLL’s new report on the sector reveals its direction of travel  https://www.businesspost.ie/commercial/living-sector-can-offer-a-safe-home-for-your-money-9249fb6c

 

• Almost Half Of Apartments Have A BER Rating Of D Or Lower: 44.5% of rental properties in Ireland have a BER rating of D or lower. Figures from the  CSO https://www.todayfm.com/news/almost-half-of-apartments-have-a-ber-rating-of-d-or-lower-1278375

 

• Gas boiler installers alarmed by earlier date for new-home ban: Measure was brought forward to expedite the national transition to low-carbon housing and to avoid later retrofits https://www.businesspost.ie/climate-environment/gas-boiler-installers-alarmed-by-earlier-date-for-new-home-ban-a019bff9

 

• Four properties in D4 with potential to build  https://m.independent.ie/life/home-garden/four-properties-in-d4-with-potential-to-build-41066206.html

 

• Sing Street maker John Carney buys old Mary Robinson home for €4.4m  https://www.thetimes.co.uk/article/sing-street-maker-john-carney-old-mary-robinson-house-ireland-h8skvjv95

 

• We have secured planning permission but are considering changing architect: Property Clinic: Good communication skills are key for an architect in residential realm  https://www.irishtimes.com/life-and-style/homes-and-property/we-have-secured-planning-permission-but-are-considering-changing-architect-1.4725992?mode=amp

 

• ‘I didn’t want to be gay, particularly at that time in Ireland’: As the TV architect dives into bungalow bliss ahead of his new property show, he recalls finding love at a time when it was illegal to be homosexual, the freedom of Studio 54, and how the isolation of lockdown reignited his battle with booze https://m.independent.ie/life/hugh-wallace-i-didnt-want-to-be-gay-particularly-at-that-time-in-ireland-41062018.html (pictured)

 

• Lots of agony before ecstasy of getting on housing ladder – Limerick couple share their journey  https://www.limerickleader.ie/news/home/696373/lots-of-agony-beforeecstasy-of-getting-on-housing-ladder-limerickcouple-share-their-journey.html

 

 

COMMERCIAL PROPERTY NEWS

• Canadian Reit agrees to buy Dublin-listed Yew Grove for €127.8m: Irish office and industrial assets company floated on the Irish market in 2018  https://www.irishtimes.com/business/commercial-property/canadian-reit-agrees-to-buy-dublin-listed-yew-grove-for-127-8m-1.4730013 Also: Yew Grove’s Canadian suitor begins raising capital for €127.8m deal: Slate Office Reit will sell shares and subordinated debt to buy Irish property company  https://www.irishtimes.com/business/commercial-property/yew-grove-s-canadian-suitor-begins-raising-capital-for-127-8m-deal-1.4731537

 

• Goodbye Yew Grove Reit:  “Government policy has, increasingly, made it difficult for Irish reits in recent years.” https://www.irishtimes.com/business/commercial-property/goodbye-yew-grove-reit-investors-barely-knew-you-1.4733414

 

• Rival could set the ball rolling for a bidding war: Yew Grove’s Canadian suitors have a fight on their hands as Quanta gets ready to make a play https://www.thetimes.co.uk/article/rival-could-set-the-ball-rolling-for-a-bidding-war-bmc6xnfzc

 

• Hibernia Reit puts former Depfa Bank headquarters in IFSC on the market: Property investor understood to be seeking less than the €37.8m it paid in 2014  https://www.irishtimes.com/business/commercial-property/hibernia-reit-puts-former-depfa-bank-headquarters-in-ifsc-on-the-market-1.4730215

 

• Georgian building on Dublin’s Baggot St has office and investment prospects  https://m.independent.ie/business/commercial-property/georgian-building-on-dublins-baggot-st-has-office-and-investment-prospects-41063709.html

 

• Coppinger Row restaurant in Dublin to close as landlord ends lease: Owner Marc Bereen gives staff redundancy notice after landlord Aviva puts lease on market https://www.irishtimes.com/life-and-style/food-and-drink/coppinger-row-restaurant-in-dublin-to-close-as-landlord-ends-lease-1.4732293

 

• New facade of Clerys Quarter unveiled as scaffolding removed https://www.breakingnews.ie/ireland/new-facade-of-clerys-quarter-unveiled-on-oconnell-street-as-scaffolding-removed-1215688.html

 

• 5 More Dublin Pubs to Change Hands for €35m: UK investment firm Attestor Capital is closing in on most of the hospitality portfolio put on the market by the Smith family. https://thecurrency.news/articles/66640/five-more-dublin-pubs-to-change-hands-for-e35m/

 

• State’s largest office landlord Hibernia Reit keen on future Cork expansion: Hibernia which counts the likes of Twitter and 3M amongst its tenants  https://www.irishexaminer.com/business/companies/arid-40747305.html

 

• Retail unit at heart of Galway city for sale or to let: No 37 Shop Street is a three-storey building of 175 metres located on the city’s main shopping thoroughfare https://www.businesspost.ie/commercial/retail-unit-at-heart-of-galway-city-for-sale-or-to-let-c802689f

 

• Market intelligence firm Tegus to locate EU HQ in Waterford: Chicago company promises 100 jobs as it expands to support growing customer base https://www.irishtimes.com/business/technology/market-intelligence-firm-tegus-to-locate-eu-hq-in-waterford-1.4731109

 

• Dealz creating 60 jobs with new distribution centre in Co Meath: Clonee investment comes as discount retailer marks 10th anniversary in the Republic  https://www.irishtimes.com/business/retail-and-services/dealz-creating-60-jobs-with-new-distribution-centre-in-co-meath-1.4729475

 

• Industrial Facility creates desk for solo working in open-plan offices https://www.dezeen.com/2021/11/11/industrial-facility-oe1-nook-desk-office-furniture/ (pictured) 

 

INTERNATIONAL PROPERTY NEWS

• UK Construction businesswoman of the year: Diversity, women & new entrants  https://www.pbctoday.co.uk/news/hr-skills-news/construction-business-woman/101578/ (pictured) 

 

• UK rents ‘rising at fastest pace in 13 years’: Average private rents in September were 4.6% higher than a year earlier at £968 a month, says Zoopla  https://amp.theguardian.com/money/2021/nov/16/uk-rents-rising-zoopla

 

• Cashflow a concern for a majority of UK estate agency businesses – report – Property Industry Eye https://propertyindustryeye.com/cashflow-a-concern-for-a-majority-of-estate-agency-businesses-report/

 

• UK parliament publishes strategies for limiting whole-life building emissions  https://www.dezeen.com/2021/11/17/uk-parliament-whole-life-building-emissions-strategies/amp/

 

• Football legend opens 6,000sq ft UK property ‘showroom’ https://propertyindustryeye.com/football-legend-opens-6000sq-ft-property-showroom/

 

• ‘I’m fully booked, but can’t take on jobs’: a builder on life without EU workers https://www.theguardian.com/lifeandstyle/2021/nov/18/im-fully-booked-but-cant-take-on-jobs-a-builder-on-life-without-eu-workers

 

• The UK’s top 10 concrete contractors  https://www.constructionnews.co.uk/contractors/the-uks-top-10-concrete-contractors-2-17-11-2021/

 

• Sounds familiar: Affordable homes in ‘Billionaires Row’ scheme unviable, says developer: Plan for 109 London properties at average of £2m each causes anger in borough hit by housing crisis  https://www.theguardian.com/society/2021/nov/20/affordable-homes-in-billionaires-row-scheme-unviable-says-developer

 

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/