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:
- Property tax deadline extended until Wednesday https://amp.rte.ie/amp/1258023/
- Judge grants petition to wind up Inner City Helping Homeless https://www.breakingnews.ie/ireland/judge-grants-petition-to-wind-up-inner-city-helping-homeless-1207664.html
- We need to ensure homeless charity volunteers are properly vetted – O’Brien: https://www.newstalk.com/news/we-need-to-ensure-homeless-charity-volunteers-are-properly-vetted-obrien-1271714
- Switch to Roman numerals for High Court as Sweetman takes more cases: The number of legal actions taken by environmental protester Peter Sweetman is now so high it is is causing confusion, a judge has said https://www.businesspost.ie/legal/switch-to-roman-numerals-for-high-court-as-sweetman-takes-more-cases-246842c8
- O’Devaney Gardens developer says ban on corporate buyers affects viability of project: Site intended for 1,000 apartments https://www.irishtimes.com/business/o-devaney-gardens-developer-says-ban-on-corporate-buyers-affects-viability-of-project-1.4720685
- Why is the State selling public land to private developers for a fraction of its value? “The overly close relationship between the state and property developers appears to be history repeating itself, and we saw where that left us in 2008” Dr Rory Hearne https://www.irishexaminer.com/opinion/commentanalysis/arid-40732911.html
- US co-living operator eyes 2022 launch in Dublin: New York-based Common sees opportunity in conventional and co-living apartments https://www.irishtimes.com/business/commercial-property/us-co-living-operator-eyes-2022-launch-in-dublin-1.4716057
- Architects challenged to play part in tackling climate change: The Royal Institute of the Architects of Ireland (RIAI) is calling on members to sign up to its 2030 Climate Challenge https://www.irishexaminer.com/property/homeandoutdoors/arid-40736136.html
- Architects are “enablers of business as usual” say speakers at Built Environment Summit https://www.dezeen.com/2021/11/02/built-environment-summit-riba-architects-declare/
- Constructive thinking: Secondary students invited to help build a better future: Around the Block: Competition now open for students to design a sustainable development https://www.irishtimes.com/life-and-style/homes-and-property/constructive-thinking-secondary-students-invited-to-help-build-a-better-future-1.4718030?mode=amp
- Is the future looking bright for the houses without heating? Haus 2226 in Austria harnesses natural energy. We ask architect Professor Dietmar Eberle how Irish buildings could follow suit https://www.irishexaminer.com/property/homeandoutdoors/arid-40737939.html
- Little funding for future road projects, says transport chief https://www.thetimes.co.uk/article/little-funding-for-future-road-projects-says-transport-chief-37gmw6rfc
- A newly proposed wind farm off the coast of Wexford would generate enough electricity to power one million homes. https://m.independent.ie/regionals/wexford/news/new-wind-farm-would-power-one-million-homes-41007294.html
- Climate plan: Government may clamp down on data centre development: Rising demand for electricity could see Moneypoint operate beyond closure date https://www.irishtimes.com/business/energy-and-resources/climate-plan-government-may-clamp-down-on-data-centre-development-1.4719572
- Equinor withdraws from Irish offshore energy project https://amp.rte.ie/amp/1257849/
- Few clouds on horizon for wind energy in the west https://amp.rte.ie/amp/1257994/
- Watchdog says 34 Irish towns and villages release raw sewage into the environment every day: Environmental Protection Agency says health at risk with 20 years needed for solution https://www.irishtimes.com/news/environment/watchdog-says-34-irish-towns-and-villages-release-raw-sewage-into-the-environment-every-day-1.4717557
- Make designs central installation for COP26 Build Better Now virtual pavilion https://www.dezeen.com/2021/11/02/cop26-virtual-pavilion-build-better-now-make/. (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.
Season 4, Episode 8: Property Matters, November 2nd, 2021 – Retail tech trends and how remote working is influencing property moves
This week on #PropertyMatters iPropertyRadio.com, host Carol Tallon is joined by Markus Porvari, Founder and CEO of retail proptech Hyperin. We also listen back to a previous interview with REA spokesperson Barry McDonald about how remote working is influencing housing trends:
Watch back: https://youtu.be/mRL57TAdrxs
Watch back: https://youtu.be/t8h24q2ddmQ
*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
- A lot done and a lot more to do for the #OurBalbriggan plan as council gives an update on progress and details the next steps in the transformation of the town https://m.independent.ie/regionals/dublin/fingal/a-lot-done-and-a-lot-more-to-do-for-the-our-balbriggan-plan-as-council-gives-an-update-on-progress-and-details-the-next-steps-in-the-transformation-of-the-town-41006124.html
- Three and four-beds close to the north Dublin coast launching soon: Castleland Park is a new development in Balbriggan, Co Dublin. https://www.thejournal.ie/castleland-park-5592248-Nov2021/
- New plan to revamp Temple Bar Square revealed: The work is due to start in March 2022 and will see new over head street lighting going across wires in the square https://www.dublinlive.ie/news/dublin-news/new-plan-revamp-temple-bar-22012871
- Objection lodged to removal of religious artefacts from chapel where development planned: Application states ‘altars, confession box, crucifix, plaque, pews, tabernacle, statues and stations of the cross’ due to be removed https://www.irishtimes.com/news/ireland/irish-news/objection-lodged-to-removal-of-religious-artefacts-from-chapel-where-development-planned-1.4716198
- Almost 700 objections lodged against Cobblestone pub plans: Heritage watchdog not in favour of plan for 114-bedroom hotel on Smithfield site https://www.irishtimes.com/business/commercial-property/almost-700-objections-lodged-against-cobblestone-pub-plans-1.4720806
- Is the hotel-building boom leaving no room for culture in Dublin? The loss of some of the capital’s favourite venues has led to protests that tourist accommodation is being prioritised over the arts and locals’ needs. John Meagher investigates whether the claim is fair https://m.independent.ie/irish-news/is-the-hotel-building-boom-leaving-no-room-for-culture-in-dublin-41018942.html
- Imelda May: Dublin’s culture is being ‘stolen, robbed and plundered’: The singer says the balance between protecting culture and progress is being lost https://www.newstalk.com/news/imelda-may-dublins-culture-is-being-stolen-robbed-and-plundered-1273682
- Art deco chic at former chef school with architectural sizzle: Former College of Catering stands as one of Dublin’s finest underappreciated buildings https://www.irishtimes.com/life-and-style/homes-and-property/art-deco-chic-at-former-chef-school-with-architectural-sizzle-1.4717255?mode=amp
- Planning permission to be sought for new Cork-Limerick road in 2023: Unlike previous iterations, the current plan does not state that the entire road will be a motorway https://www.irishexaminer.com/news/munster/arid-40733973.html
- Europe’s newest university town could transform the mid-west: The scale and potential of UL’s plans are attracting interest from major players https://www.irishtimes.com/news/education/europe-s-newest-university-town-could-transform-the-mid-west-1.4718465
- Council advancing Cross-City Link bus corridor plans https://www.galwaydaily.com/news/transport/council-advancing-cross-city-link-bus-corridor-plans/
- Galway Rural development announce Smart Villages initiative for Mountbellew https://galwaybayfm.ie/galway-bay-fm-news-desk/listen-galway-rural-development-announce-smart-villages-initiative-for-mountbellew/
- 71 housing units for older people in Waterford https://www.wlrfm.com/news/71-housing-units-for-older-people-in-waterford-218534
- Does Urban Development Drive Gentrification? https://www.archdaily.com/971016/does-urban-development-drive-gentrification
*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*
CONSTRUCTION & DEVELOPMENT NEWS
- Legislation to introduce a new planning process for large-scale residential developments (LRDs) to replace the controversial fast-track strategic housing development (SHD) process has been approved by ministers. https://www.irishlegal.com/articles/legislation-to-replace-strategic-housing-development-process-approved-for-publication
- Construction material inflation ‘having impact on tender prices’: Building firm voices concern around completion of largescale housing projects https://www.irishtimes.com/news/ireland/irish-news/construction-material-inflation-having-impact-on-tender-prices-1.4717277
- Government makes ‘national call’ for young tradespeople to stay in Ireland to build homes: It comes as for the first time, students this year will also be able to find out about further education courses and apprenticeships via the CAO portal https://www.irishmirror.ie/news/irish-news/politics/government-makes-national-call-young-25388894.amp
- Construction firm fined over death of worker at Rossaveal Harbour https://connachttribune.ie/construction-firm-fined-over-death-of-worker-at-rossaveal-harbour/amp/
- Billion-euro engineer’s big switch: E&I founder Phil O’Doherty will have his first boss in 35 years after closing its sale to American firm Vertiv https://www.thetimes.co.uk/article/billion-euro-engineers-big-switch-f5pmsvj3z
- Council Management Added More Than 200 Rezonings to Draft Plan for City, Without Telling Councillors https://www.dublininquirer.com/2021/11/03/council-management-added-more-than-200-rezonings-to-draft-plan-for-city-without-telling-councillors
- WATCH: First look inside the National Children’s Hospital’s ‘world-class facilities’ https://www.irishexaminer.com/news/arid-40738110.html
- Arklow will be home to a new business in the coming weeks as Dunwood Services is setting up Irish operations in Arklow Enterprise Centre to alleviate the construction labour shortage in the country. https://m.independent.ie/regionals/wicklow/news/new-arklow-business-to-reduce-labour-shortage-41011019.html
- Irish Water lacks ‘clear plan’ on pollution waste, watchdog claims: Environmental Protection Agency says health at risk with 20 years needed for solution https://www.irishtimes.com/news/environment/irish-water-lacks-clear-plan-on-pollution-waste-watchdog-claims-1.4717557
- Property giant LandSec buys urban renewal specialist U+I https://m.independent.ie/business/commercial-property/property-giant-landsec-buys-urban-renewal-specialist-ui-41007229.html
- An Bord Pleanála concedes decision over Dublin dockland tower heights not legally valid https://www.breakingnews.ie/ireland/an-bord-pleanala-concedes-decision-over-dublin-dockland-tower-heights-not-legally-valid-1207690.html
- No social housing at Ires Reit’s new upmarket Dublin 4 development: Dublin City Council acquires seven units at nearby Elm Park instead in €2m deal https://www.irishtimes.com/business/commercial-property/no-social-housing-at-ires-reit-s-new-upmarket-dublin-4-development-1.4719861
- Residents outraged over ‘inappropriate’ plans for €52 million 130 build-to-rent apartments in Clontarf: Many residents and TDs are concerned over the height of the six storey apartments https://www.dublinlive.ie/news/dublin-news/residents-outraged-over-inappropriate-plans-22027067
- Over 850 homes can be delivered ‘within 4-year timeframe’ on controversial Coolock site https://m.independent.ie/regionals/dublin/over-850-homes-can-be-delivered-within-4-year-timeframe-on-controversial-coolock-site-41012382.html
- Locals and An Taisce oppose six-storey student housing scheme for Dun Laoghaire: Baker’s Corner pub would be demolished as part of the scheme https://www.thejournal.ie/bakers-corner-dun-laoghaire-student-accommodation-5591325-Nov2021/
- New Sandymount apartments would ‘significantly overlook’ school, court told: Judge grants leave for judicial review proceedings aimed at overturning planning approval for €50m build-to-rent development https://www.irishtimes.com/business/construction/new-sandymount-apartments-would-significantly-overlook-school-court-told-1.4716366
- A touch of Danish design in the first 26 homes at Cherrywood: Developer Quintain Ireland is planning to build 13,000 homes at Cherry Lane in Dublin 18 https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/a-touch-of-danish-design-in-the-first-26-homes-at-cherrywood-1.4716157?mode=amp
- Property partnership wants DCU to return €3.7m deposit over failed land deal https://www.breakingnews.ie/ireland/property-partnership-wants-dcu-to-return-e3-7m-deposit-over-failed-land-deal-1208134.html
- Industrial lands in Santry and Naas for sale: Prime site in north Dublin has a price tag of €3.5 million, while Co Kildare development land is asking €3 million https://www.businesspost.ie/commercial/industrial-lands-in-santry-and-naas-for-sale-a265a197
- Dataplex seeks to expand data center in Dublin, Ireland: Company hopes to more than double data storage space within an existing facility https://www.datacenterdynamics.com/en/news/dataplex-files-to-extend-data-center-in-dublin-ireland/
- Prime development opportunity at An Post branch in Ballsbridge: Landmark post office on Shelbourne Road is seeking €1.5m https://www.irishtimes.com/business/commercial-property/prime-development-opportunity-at-an-post-branch-in-ballsbridge-1.4715962
- Road workers discover gun and ammo while digging in Dublin’s north inner city https://www.thejournal.ie/road-worker-gun-dublin-find-5591180-Nov2021/
- CIF’s South East Construct celebrates resilience and anticipates ‘exciting times’: The first in-person conference for the Construction Industry Federation in two years had a twin focus of planning and development, and construction in the south-east https://www.businesspost.ie/commercial-reports/cifs-south-east-construct-celebrates-resilience-and-anticipates-exciting-times-fd3d4cb3
- Planning watchdog warns Cork against building housing on 16 sites ‘vulnerable’ to flooding: Among the proposed zonings criticised are sites in the city centre, Tivoli, Douglas, Togher, Curraheen and Ballincollig, as well as lands adjacent to the River Lee https://www.irishexaminer.com/news/munster/arid-40736133.html
- Twenty-four new homes earmarked for 1.2 hectare Glanmire site: They’ve also put in provisions for up to 48 car parking spots as well as a 2m footpath around the new estate https://www.corkbeo.ie/news/local-news/twenty-four-new-homes-earmarked-22027944
- Plan for new camping pods by historical West Cork village: Under the plan six pods would be installed as well as a reception building and on-site wastewater treatment system https://www.corkbeo.ie/news/local-news/plan-new-camping-pods-historical-22027458
- Planning application seeks permission for two dozen houses in Upper Glanmire https://www.echolive.ie/corknews/arid-40737036.html
- Dispute over legal rights to land earmarked for 200 houses in Galway https://www.breakingnews.ie/amp/ireland/dispute-over-legal-rights-to-land-earmarked-for-200-houses-in-galway-1207625.html
- *INVESTMENT FUND* ban for homes in new Galway development https://connachttribune.ie/cuckoo-fund-ban-for-homes-in-new-galway-development/
- An application for permission to bring two new legal challenges to moves by Apple to keep alive its plan for its €850 million data centre in Athenry, Co Galway, will be heard next month. https://www.breakingnews.ie/ireland/fresh-apple-data-centre-move-prompts-new-legal-challenges-1208627.html
- Local residents challenge plans for 252 council homes in Limerick https://www.breakingnews.ie/ireland/local-residents-challenge-plans-for-252-council-homes-in-limerick-1208721.html
- First phase of housing in new Western Environs area of Kilkenny goes to market this morning: There’s planning permission for 280 homes with others currently going through the system https://kclr96fm.com/first-phase-of-housing-in-new-western-environs-area-of-kilkenny-goes-to-market-this-morning/
- Planning permission rejected again for Kingston housing estate https://www.galwaydaily.com/news/housing/planning-permission-rejected-again-for-kingston-housing-estate/
- Planning refused for extension of Athenry housing estate https://www.galwaydaily.com/news/housing/planning-refused-for-extension-of-athenry-housing-estate/
- Dispute between developer and property company over Kildare housing development https://www.breakingnews.ie/business/dispute-between-developer-and-property-company-over-kildare-housing-development-1207714.html
- Company makes third attempt to build massive development in Offaly https://www.offalyexpress.ie/news/tullamore-tribune/687399/company-makes-third-attempt-to-build-massive-development-in-offaly.html?utm_source=newsshowcase&utm_medium=discover&utm_campaign=CCwQ4onNmo3sg85IGJ_h1LWq8cyUigEqRAgwEKKY5fSV1KDjgAEYgKD-x7G8wty-ASoqCAAiECKv0B1GqPYbR4bstsSVVoQqFAgKIhAir9AdRqj2G0eG7LbElVaE&utm_content=bullets
- Works at a Ballinamore housing estate, which has been at the centre of a long-running stand-off between the bond holders and Leitrim County Council, will not get underway until mid-2022. https://www.shannonside.ie/news/works-at-ballinamore-housing-estate-will-not-commence-until-mid-2022-192461
- Planning sought for 12 apartments in Killarney https://www.radiokerry.ie/news/planning-sought-for-12-apartments-in-killarney-256637
- Calls for council input regarding second advanced facility planned for Tralee https://www.radiokerry.ie/amp/news/calls-for-council-input-regarding-second-advanced-facility-planned-for-tralee-256517 Also: Second IDA facility could create hundreds of new jobs in Tralee says Varadkar https://m.independent.ie/regionals/kerryman/second-ida-facility-could-create-hundreds-of-new-jobs-in-tralee-says-varadkar-41022505.html
- Longford sawmill giant Glennon Brothers shake hands on multi million euro Balcas deal https://www.longfordleader.ie/news/home/685869/longford-sawmill-giant-glennon-brothers-shake-hands-on-multi-million-euro-balcas-deal.html
- Ireland-based JJ Rhatigan (JJR) has been picked to deliver a £155m build-to-rent scheme in Maidenhead. The job to deliver a 429-home development is the company’s largest since it entered the UK market in 2012. https://www.constructionnews.co.uk/buildings/expanding-irish-contractor-lands-155m-maidenhead-resi-scheme-05-11-2021/
- Tetra Tech has entered the Irish market with the opening of an office in Gorey, County Wexford. The new office will focus on delivering environmental services to Ireland’s public and private sector and will be headed up by Dr Olivia Hall https://www.theconstructionindex.co.uk/news/view/tetra-tech-expands-into-ireland?amp=1
- Paddy Shovlin, the Ferrari-driving developer who built large chunks of Sandyford before hitting the skids in the downturn, has cashed out early on a €120 million student accommodation project that he’d put together in Leeds. https://www.thetimes.co.uk/article/inside-track-paddy-shovlin-bought-out-of-leeds-student-digs-scheme-kq50vfc5p
- Developer Kavanagh settles salary dispute with former executive: The case is one of many legal wrangles the businessman has faced in the past 18 months from clients, creditors and contractors https://www.businesspost.ie/legal/developer-kavanagh-settles-salary-dispute-with-former-executive-120a67f4
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 *
- The Dubliner in London who aims to rival British Gas with his ‘AA for homes’ firm. Wild Geese: Simon Phelan says there’s no better place to raise money and work than English capital https://www.irishtimes.com/business/economy/the-dubliner-in-london-who-aims-to-rival-british-gas-with-his-aa-for-homes-firm-1.4719607
- Data a burden rather than advantage for most Irish businesses – study: Some 70% of businesses say they gather more data than they can use https://www.irishtimes.com/business/technology/data-a-burden-rather-than-advantage-for-most-irish-businesses-study-1.4719510
- The tech industry has finally picked a smart-home standard: Tech companies are coalescing around Matter, with Google, Apple, Samsung and now Amazon all on board. https://www.protocol.com/bulletins/amazon-matter-smart-home
- Navitas Capital Closes Its Third Early-Stage Proptech Fund to Drive Innovation in the Built World https://www.prnewswire.com/news-releases/navitas-capital-closes-its-third-early-stage-proptech-fund-to-drive-innovation-in-the-built-world-301414348.html
- Main Capital Partners enters PropTech market, having acquired a majority stake in Zig Websoftware, a developer of solutions for housing corporations, student accommodation, commercial property management, and housing allocation http://www.privateequitywire.co.uk/2021/11/04/308770/main-capital-partners-enters-proptech-market-zig-acquisition
- PropTech chief says agents are now competing with each other for substantially less stock on the market – meaning their prospecting work needs to be more effective https://www.estateagenttoday.co.uk/breaking-news/2021/11/stock-famine-means-agents-must-work-harder-at-prospecting–proptech-chief?source=newsticker
- What will agency look like in 2030? PropTech firms think they know… https://www.lettingagenttoday.co.uk/breaking-news/2021/11/what-will-agency-look-like-in-2030-proptech-firms-think-they-know?source=newsticker
- PlaceTech | Why real estate has ‘compelling reason’ to embrace tech https://placetech.net/analysis/why-real-estate-has-compelling-reason-to-embrace-tech/
- UK-based proptech Evo gulps £1M funding to make property management process transparent – UKTN (UK Tech News) https://www.uktech.news/news/uk-proptech-startup-evo-funding-20211103
- Housing startup QuintoAndar to open first technology hub outside Brazil in Portugal https://techcrunch.com/2021/11/03/housing-startup-quintoandar-to-open-first-technology-hub-outside-brazil-in-portugal/
- Reapit unleashes its recent Oz digital marketing acquisition on the UK https://thenegotiator.co.uk/reapit-unleashes-its-recent-oz-digital-marketing-acquisition-on-the-uk/
- Neurodiversity in technology: Are businesses missing out on key talent? https://techcrunch.com/2021/10/30/neurodiversity-in-technology-are-businesses-missing-out-on-key-talent/
- Heatpump proposals may be hot air, suggests PropTech platform https://www.lettingagenttoday.co.uk/breaking-news/2021/10/heatpump-proposals-may-be-hot-air-suggests-proptech-platform?source=newsticker
- How to Bring Personalization to Multifamily Proptech Tools: Here are some things to keep in mind when adapting new property management and leasing technologies. https://www.wealthmanagement.com/multifamily/how-bring-personalization-multifamily-proptech-tools
- Rent-to-Own Proptech Divvy Gets Another $735 Million: Private equity investors obviously believe in the business model of Divvy Homes, a San Francisco-based start-up that partners with new homeowners in a proptech twist on the old lease-to-own model https://www.millionacres.com/real-estate-investing/articles/divvy-it-up-rent-to-own-proptech-pulls-in-another-735-million/
- Zillow is moving out of the home-selling business: The company lost hundreds of millions of dollars flipping houses https://www.theverge.com/2021/11/2/22760080/zillow-offers-home-selling-ibuyer-wind-down-excess-inventory-losses-financial-results Also: Offerpad CEO: Zillow’s folly was in ‘chase’ to be the ‘fastest’: In a new interview on Thursday, Offerpad CEO Brian Bair explained where Zillow went wrong and his enduring faith in the iBuying business model https://www.inman.com/2021/11/05/offerpad-ceo-zillows-folly-was-in-chase-to-be-the-fastest/
- Homebuying platform Doorsey launches, promising bid transparency: Startup raised $4.1 million in seed round led by Adam Neumann’s family fund https://therealdeal.com/2021/11/04/homebuying-platform-doorsey-launches-promising-bid-transparency/
- Behind Northspyre’s 3.5X Growth During the Pandemic: Brooklyn-based proptech firm that uses AI to deliver developments is now working on $30 billion in projects in dozens of cities https://commercialobserver.com/2021/11/northspyre-proptech-construction/
RESIDENTIAL PROPERTY NEWS (including PRS)
- The Government has approved a 2% cap on rent increases in rent pressure zones – A RPZ is a designated area where rents cannot be increased by more than general inflation and applies to new and existing tenancies unless an exemption is being applied. https://www.rte.ie/news/2021/1104/1257887-rent-cap/
- ‘The system is weak’: Just 29 sanctions for landlords in past year despite hundreds of investigations: In the majority of cases the landlord received either a written or monetary fine, or both, for breaches of rent pressure zone requirements. https://www.thejournal.ie/residential-tenancies-board-5588965-Nov2021/
- Newton Emerson: Rent control unlikely to defy laws of economics – Experience shows constraining rent reduces supply and drives up market rates https://www.irishtimes.com/opinion/newton-emerson-rent-control-unlikely-to-defy-laws-of-economics-1.4718435
- Less than half of rental terminations and increases from landlords valid: One third of renters feel uninformed about rights as tenants, Threshold survey shows https://www.irishtimes.com/news/consumer/less-than-half-of-rental-terminations-and-increases-from-landlords-valid-1.4717298
- John FitzGerald: Rent control risks inhibiting housing supply over the long term: The longer it goes on the more addictive it is and the more difficult it is to unwind https://www.irishtimes.com/business/economy/john-fitzgerald-rent-control-risks-inhibiting-housing-supply-over-the-long-term-1.4719630
- COP26: Housing Executive tenants reveal benefits of first of its kind low carbon heating system – “Climate change is important for all of us and this is my little way of planting a tree and saving the environment” https://www.belfastlive.co.uk/news/northern-ireland/cop26-housing-executive-tenants-reveal-22037046.amp
- Households and private sector to bear most of Climate Action Plan cost: Plan costing €125bn sets out 475 actions to halve greenhouse emission by 2030 https://www.irishtimes.com/news/environment/households-and-private-sector-to-bear-most-of-climate-action-plan-cost-1.4719879
- Retrofitting bill could come to average of €56,000 per home: Official estimate puts total cost of updating half a million homes at up to €28bn https://www.irishtimes.com/news/environment/retrofitting-bill-could-come-to-average-of-56-000-per-home-1.4720943
- All you need to know about retrofitting your home https://www.irishtimes.com/life-and-style/homes-and-property/all-you-need-to-know-about-retrofitting-your-home-1.4673689?mode=amp
- Old houses take up to 20 years to recoup cost of retrofit https://www.thetimes.co.uk/article/old-houses-take-up-to-20-years-to-recoup-cost-of-retrofit-2vdr93mqq
- Average Irish home buyer ‘will need €90,000 income by 2023’: Goodbody economist Dermot O’Leary forecasts average house price of €343,729 after 22.5% rise https://www.irishtimes.com/life-and-style/homes-and-property/average-irish-home-buyer-will-need-90-000-income-by-2023-1.4714161?mode=amp
- Credit unions could be allowed to do mortgages and current accounts, if a new bill being brought forward by a Sligo Leitrim TD gets support in the Dáil. https://www.oceanfm.ie/2021/11/03/credit-union-bill-to-be-debated-in-the-dail/
- First batch of new homes at Cherrywood scheme come to market: Prices for the three and four-bedroom houses in south Co Dublin, designed by Urban Agency, start from €555,000 https://www.businesspost.ie/residential/first-batch-of-new-homes-at-cherrywood-scheme-come-to-market-2f73ac8b
- Why you should choose appliances before designing a new kitchen: Sort it: Choosing your appliances early means no surprises for the builder https://www.irishtimes.com/life-and-style/homes-and-property/why-you-should-choose-appliances-before-designing-a-new-kitchen-1.4714081?mode=amp
- Two central Dublin properties offer solid investment prospects https://m.independent.ie/business/commercial-property/two-central-dublin-properties-offer-solid-investment-prospects-41014800.html
- Woman who lived for 30 years with partner entitled to claim from estate https://www.breakingnews.ie/amp/ireland/woman-who-lived-for-30-years-with-partner-entitled-to-claim-from-estate-1208212.html
- New life from old walls: Renovating her first property created a dream house for Emily Cunnane and led to a career change — and the 2019 Home of the Year shortlist https://www.thetimes.co.uk/article/new-life-from-old-walls-hr966fcnq
- My neighbours are building an extension. What height is allowed without approval? Property clinic: Legislation allows for 12sq m at first floor level without approval https://www.irishtimes.com/life-and-style/homes-and-property/my-neighbours-are-building-an-extension-what-height-is-allowed-without-approval-1.4712975?mode=amp
- Broadcaster Tom Dunne’s Dún Laoghaire home on the market for €1.25m: Musical moments have been created, played and broadcast in this warm, solid family home https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/broadcaster-tom-dunne-s-d%C3%BAn-laoghaire-home-on-the-market-for-1-25m-1.4717238?mode=amp
- Four doer-upper homes oozing with potential brought to you by MyHome.ie: These houses would be perfect for first-time buyers https://www.limerickleader.ie/news/sponsored-content/689029/four-doer-upper-homes-oozing-with-potential-brought-to-you-by-myhome-ie.html
COMMERCIAL PROPERTY NEWS
- Commercial property bounces back as restrictions lift: CBRE report says ‘phenomenally busy’ September and October have stabilised market https://www.irishtimes.com/business/commercial-property/commercial-property-bounces-back-as-restrictions-lift-1.4715925 Also: Ireland Bi-Monthly Research Report November 2021: “Investment spend for 2021 will comfortably exceed €4.5 billion” https://www.cbre.ie/en/research-and-reports/Ireland-Bi-Monthly-Research-Report-November-2021
- Q3 2021 witnesses strongest office take-up in years: New supply, the return of international occupiers and growth in office-based employment are helping to drive recovery in the office market https://www.businesspost.ie/commercial/q3-2021-witnesses-strongest-office-take-up-in-years-b6c38d79
- Recovery well under way with €800m transacted in third quarter of 2021: Nationally, there’s been a doubling of commercial property investment in the first nine months of 2021 https://www.irishexaminer.com/property/commercial/arid-40736772.html
- German investors dominate commercial property this year: US, French and Dutch buyers very present too as activity rises especially in Q3 https://www.irishtimes.com/business/commercial-property/german-investors-dominate-commercial-property-this-year-1.4717210
- The public expenditure department lambasted a proposed deal for a new headquarters for the Data Protection Commission, saying the rent being sought was “exorbitant”. https://www.thetimes.co.uk/article/data-watchdog-under-fire-over-dublin-hq-move-3gqnk7lt2
- LinkedIn has committed to leases worth €500m for its new Dublin based EMEA campus, according to new accounts filed by the professional social network. https://amp.rte.ie/amp/1257446/
- Logistics demand fuelled by Brexit and €2bn online spend monthly: Investors start to forward fund assets amid surge of activity in logistics sector https://www.irishtimes.com/business/commercial-property/logistics-demand-fuelled-by-brexit-and-2bn-online-spend-monthly-1.4717331
- Two Irish Restaurant Properties Hit The Market https://www.hospitalityireland.com/amp/restaurant/two-irish-restaurant-properties-hit-the-market-4-152112
- Foxrock nursing home gears up for expansion: Four Ferns to add 33 beds while Belgian Aedifica is set to invest €43.5m in Ireland https://www.irishtimes.com/business/commercial-property/foxrock-nursing-home-gears-up-for-expansion-1.4717107
- Dublin city investment and development portfolio worth almost €12m on offer: Knight Frank is offering a selection of enticing mixed-use assets in Dublin city centre https://www.businesspost.ie/commercial/dublin-city-investment-and-development-portfolio-worth-almost-eur12m-on-offer-19539420
- A corner shop with character in charming Chapelizod: Kelly’s newsagents, a good-looking redbrick premises that includes a house with five double bedrooms, is on the market for €845,000 https://www.businesspost.ie/commercial/a-corner-shop-with-character-in-charming-chapelizod-7084db06
- UK property lender Octopus launches in Ireland: Non-bank lender hopes to lend as much as £300m a year into sector here https://www.irishtimes.com/business/financial-services/uk-property-lender-octopus-launches-in-ireland-1.4715490
- BoI’s Cork city southern base on market guiding at €13.5 million: No 32 South Mall, in Cork city centre, has been Bank of Ireland’s southern base since the 1970s; the five-storey building was fully modernised in 2008 https://www.businesspost.ie/commercial/bois-cork-city-southern-base-on-market-guiding-at-eur135-million-651891a1
- Demand expected to outstrip supply as Galway sees post-Covid surge in sales: Demand for retail, office and development land in the city and hinterland is up 15 per cent year-on-year, according to agent O’Donnellan & Joyce https://www.businesspost.ie/commercial/demand-expected-to-outstrip-supply-as-galway-sees-post-covid-surge-in-sales-050a16e4
- Former MBNA site in Leitrim to go on sale for over six-million-euro https://www.shannonside.ie/news/former-mbna-site-in-leitrim-to-go-on-sale-for-over-six-million-euro-192490
- Chemist Warehouse to open fourth Irish outlet in Meath: Pharmacy to employ more than 250 people and open 11 stores around the country https://www.irishtimes.com/business/commercial-property/chemist-warehouse-to-open-fourth-irish-outlet-in-meath-1.4716066 (pictured)
- Stylish Drogheda property offers 7.2pc net initial yield to investors https://m.independent.ie/business/commercial-property/stylish-drogheda-property-offers-72pc-net-initial-yield-to-investors-41014802.html
- Kilcullen site offers investment opportunity for €650,000: Four detached commercial properties in Co Kildare provide eight individual units and a total annual rental income of €70,000 https://www.businesspost.ie/commercial/kilcullen-site-offers-investment-opportunity-for-eur650000-54daf019
- Gorey retail park on the market for €4.25m: Mill Retail Park contains Choice Homes, Iceland, Maxi Zoo and Polonez https://www.irishtimes.com/business/commercial-property/gorey-retail-park-on-the-market-for-4-25m-1.4716095
- Plans for Innishannon publican’s digital hub put on hold | The Southern Star https://www.southernstar.ie/news/plans-for-innishannon-publicans-digital-hub-put-on-hold-4232629
- 35DP office space hopes to give Belfast new lease of life: The development on Donegall Place is expected to confirm its first tenants before the end of this year https://www.businesspost.ie/commercial/35dp-office-space-hopes-to-give-belfast-new-lease-of-life-c5b8726f
INTERNATIONAL PROPERTY NEWS
- UK Homeowners are being warned to brace themselves for ‘soaring’ mortgage costs as economists predict rates will rise by up to 13% in 2023. https://zevelop.com/read/news/uk-mortgage-costs-expected-to-soar-by-13-experts-warn/
- New York’s Irish Arts Center Upgrades to a ‘Flagship Hub’: The $60 million building in Hell’s Kitchen, which will present theater, dance, music and more, is scheduled to open in December. https://www.nytimes.com/2021/10/31/theater/irish-arts-center-new-york.amp.html (pictured)
- McAleer & Rushe has demanded a full investigation into a major brawl that erupted on one of its London jobs between members of a concrete gang working for specialist JB Structures. https://www.constructionenquirer.com/2021/11/01/mass-brawl-breaks-out-on-london-site/
- Mace alters degree requirements to get more graduates into business from different backgrounds https://www.building.co.uk/news/mace-alters-degree-requirements-to-get-more-graduates-into-business-from-different-backgrounds/5114432.article
- Former Lendlease managing director Victoria Quinlan has joined build-to-rent investor and developer Cortland. The US-headquartered firm has named Quinlan president of its European operations. https://www.constructionnews.co.uk/news/peoplemoves-news/ex-lendlease-veteran-joins-build-to-rent-developer-05-11-2021/
- Inflation brings down 125-year-old building firm: Forty-six staff at a fourth-generation family building firm in Derbyshire have been let go by the company’s administrators. https://www.theconstructionindex.co.uk/news/view/inflation-brings-down-125-year-old-building-firm
- The city of Amsterdam has mandated that all new buildings in the Dutch capital must be constructed from at least 20 per cent wood or other biobased materials from 2025 https://www.dezeen.com/2021/11/02/amsterdam-new-buildings-20-per-cent-timber/ (pictured)
- Airbnb posts best quarter ever with profits up 280% as travel rebound continues https://www-proactiveinvestors-com.cdn.ampproject.org/c/s/www.proactiveinvestors.com/companies/amp/news/965404
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/