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:
- Budget 2024: What the property industry believes should be done to solve the housing crisis – Property industry leaders call for a range of measures to boost supply and lower cost of new homes in pre-budget submissions https://www.irishtimes.com/property/residential/2023/09/26/budget-24-what-the-government-needs-to-do-solve-the-housing-crisis/
- TheJournal has an interesting new series called ‘Policy Matters’, which takes a deep dive into the ideas and solutions proposed by Ireland’s politicians on some of the biggest issues of the day. This week: ‘Great in theory, but the reality is different’: FG housing spokesperson on the eviction ban – John Cummins said there is “no question” that homelessness remains the biggest challenge in housing. https://www.thejournal.ie/fine-gael-housing-policy-matters-2-6182542-Oct2023/
- Housing Agency scheme has made ‘little to no progress’ in developing half of the sites in portfolio, audit finds: Report says ‘no viable development options have yet been identified’ for 39 of the 73 sites earmarked for housing https://www.irishtimes.com/ireland/2023/09/29/audit-finds-little-progress-made-in-building-on-housing-agency-sites/
- New mandatory timelines for decisions on planning applications will range from 18 to 48 weeks under the Government’s new Planning and Development Bill, it is understood. https://www.irishexaminer.com/news/arid-41237455.html
- O’Brien pledges to bring memo to cabinet on Donegal planning corruption: The response by the minister for housing and local government to a Dáil question is the first time a timeline has been committed to on the long-delayed planning corruption report https://www.businesspost.ie/news/obrien-pledges-to-bring-memo-to-cabinet-on-donegal-planning-corruption/
- Almost €6.8m owed in derelict site levies in Dublin city: Council says derelict properties ‘a magnet for antisocial behaviour and take valuable housing stock out of circulation’ https://www.irishtimes.com/ireland/housing-planning/2023/09/27/almost-68m-owed-in-derelict-site-levies-in-dublin-city/
- Fr Peter McVerry dismisses finance fears at charity – ‘We expanded too fast as we tried to house everyone’ https://m.independent.ie/irish-news/fr-peter-mcverry-dismisses-finance-fears-at-charity-we-expanded-too-fast-as-we-tried-to-house-everyone/a1325407178.html Also: Peter McVerry Trust reviewing delivery of social housing after cash flow issues revealed: The move raises questions about the delivery of hundreds of homes after the Peter McVerry Trust had said it would deliver 1,200 social homes by 2025 https://www.businesspost.ie/news/peter-mcverry-trust-reviewing-delivery-of-social-housing-after-cash-flow-issues-revealed/
- Conversion of pubs for residential use is easier said than done: While there is potential to increase housing through the use of upper floors of pubs, the conditions attached to many government incentives are too onerous https://www.irishtimes.com/property/commercial-property/2023/09/27/conversion-of-pubs-for-residential-use-is-easier-said-than-done/
- Nama Chief defends sale of Donegal property for over 90% less than what it was worth https://highlandradio.com/2023/09/29/nama-chief-defends-sale-of-donegal-property-for-over-90-less-than-what-it-was-worth/
- Arrow Global unit Maslow enters Irish property bridging finance: Maslow Capital says it completed first deal within 12 days https://www.irishtimes.com/business/2023/09/27/arrow-global-unit-maslow-enters-irish-property-bridging-finance/
- Second major land offer on Kerry’s Connor Pass adds to mountain national park momentum Owenmore Fishery sale at €1.5 million follows an offer of 1,400 lofty Connor Pass acres for a steep €10 million https://www.irishexaminer.com/property/commercial/arid-41235856.html
- Ganley’s Galway pub among assets sought in NY debt case: US investor also wants to seize businessman’s Irish farmland, cars and tractor as part settlement of $19.5 million debt judgment https://www.businesspost.ie/news/ganleys-galway-pub-among-assets-sought-in-ny-debt-case/
- Bannon pass the torch for Property Picnic 2024 to Colliers- Some €300,000 in donations raised from across property industry for Cancer Trials Ireland https://www.irishtimes.com/property/commercial-property/2023/09/27/bannon-pass-the-torch-for-property-picnic-2024-to-colliers/
- Government to sell €3.7m former residence of Irish ambassador in Washington https://www.irishexaminer.com/news/arid-41236849.html
- Comer brothers saddle up to fight racing ban and council sanction: Facing a horse racing ban and an order to demolish a ‘mutant’ London building, the billionaire brothers are not backing down https://www.businesspost.ie/news-focus/comer-brothers-saddle-up-to-fight-racing-ban-and-council-sanction/
- After all their interventions, have Irish governments only made the housing crisis worse? We’ve had dozens of policies and strategies all feeding into a steadily worsening problem characterised by a widening affordability gap https://www.irishtimes.com/business/economy/2023/09/24/after-all-their-interventions-have-irish-governments-only-made-the-housing-crisis-worse/
- Saudi investor interested in buying strategic lands at Dublin Airport, McEvaddys say: ‘Credible’ investor’s identity unclear, leaving open possibility bid is backed by Saudi state or royal family, as McEvaddys and co-owners seek to sell 105-hectare site between runways for €210 million or more https://www.irishtimes.com/ireland/dublin/2023/09/25/saudi-investor-interested-in-buying-strategic-lands-at-dublin-airport-mcevaddys-say/
- Former bank on Dublin’s College Green may be converted to social housing: Dublin City Council is looking at purchasing the Ulster Bank premises which is on sale for €13.5m https://www.irishtimes.com/ireland/dublin/2023/09/25/former-bank-on-college-green-may-be-converted-to-social-housing/
- Businesses need to consider housing its staff – Homes for workers are not new, just look at what Guinness built https://www.irishtimes.com/business/2023/09/28/businesses-need-to-consider-housing-its-staff/
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 – who is listening/watching?
Huge thanks to all iProperty Radio guests this month who participated in the ‘Property Roundup’, ‘Proptech Hot Seat’ and ‘Breaking Ground’ shows (only 3 of 13 on this growing global channel right now) and to everyone who tuned in. This summer we marked a milestone of reaching 1 million+ people PER MONTH through our iPropertyRadio Meta/Facebook Page. This month we are focusing on YouTube. More than 1,000 people per day watched our videos (31,620 over the last 28 days!), in addition to all Spotify and iTunes/Transistor.fm downloads and listens.
AUDIENCE LOCATION: Interestingly, YouTube is the only digital platform/social media where our reach is less than 70% in Ireland (currently 49%), with the UK becoming an increasingly significant audience for us – our proptech content reaches a global audience.
AUDIENCE GENDER: Our demographic remains overwhelmingly male, which is not surprising for the planning, construction, property and proptech/construction tech sectors. Our show producer Katie Tallon MPRII genuinely strives to achieve gender balance in our guest line-up and topics; this month we featured a great discussion about PPE gear for women and the impacts of menopause on the use of PPE – thanks to Katherine Evans. Any suggestions welcome.
AUDIENCE AGE: Significantly, our audience is broadening above 45 years and now includes more people in the 18-24 age range, which we see as a great opportunity to inform the next generation of talent about the wide range of career opportunities within the industry 💡 Much credit for this goes to tower crane operator Kate Fahey and to the team at Townmore for their game-changing #ImInConstruction campaign!
If you haven’t checked out the YouTube channel yet, why not start with our interview with the tech founder (Aria Pour) behind Ireland’s cost rental allocation https://youtu.be/qiLRKrcj__Q?si=qth9q9DN2yldt8yj?
Also, don’t forget to check out all of the international shows currently featured on the www.ipropertyradio.com channel, where you can access all episodes (audio or video) of every show over the past almost five years! Thank you for watching and/or listening 🙏
*We have an exciting partnership announcement coming in the next few weeks and we will be sharing plans for our Construction Leaders 2024 series (suggestions welcome!), stay tuned…
This week on iPropertyRadio…
#Property Roundup
On #PropertyRoundup, Terry Gorry, Owner of Terry Gorry & Co. Solicitors, joins host Carol Tallon to discuss buying and selling in the current property market, the vacant property refurbishment grant and various property schemes to help first time buyers get on the property ladder! (He also talks about using TikTok for business – definitely worth a listen)
Property Roundup is sponsored by Irish Property District, your industry communications partner: https://propertydistrict.ie
*Watch/ listen back: https://ipropertyradio.com/property-matters/
#Proptech Hot Seat
In the ‘Proptech Hot Seat’ on iProperty Radio this week is Aria Pour, CEO of Bynaric, a technology company that specialises in providing innovative software solutions for property management.
Interestingly, Aria and his team provide the proptech solution underpinning Ireland’s cost rental allocation.
Aria gives us an overview of how Bynaric came to be, seeing problems in the industry and building the solution! Aria recently launched FairSelect, a tenant selection and onboarding software for the housing sector, learn more at 🔗 https://bynaric.com/
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
This week on #BreakingGround host Carol Tallon is joined by Katherine Evans, Founder of Bold As Brass, a women’s network for UK mining industry, energy, highways, rail, construction, heavy industry, engineering and environmental services. Katherine discusses noninclusive PPE gear in the industry for women. Really interesting chat about how the use of the wrong PPE gear impacts women at different times in their menstrual cycle or when experiencing the symptoms of menopause.
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
- Ag crúthú Luach Sóisialta Trí Comhforbairt Áite (Creating Social Value Through Placemaking) 👉https://placeengage.com/ag-cruthu-luach-soisialta-tri-comhforbairt-aite/
- How to engage the community in placemaking in 2023 | PLACEengage https://placeengage.com/how-to-engage-the-community-in-placemaking-in-2023/
- Dublin once ‘one of the most magnificent cities in Europe’ https://www.newstalk.com/news/dublin-once-one-of-the-most-magnificent-cities-in-europe-1510509
- Paschal Donohoe’s department says regeneration of St Teresa’s Gardens may cost €500m: Project’s launch saw plans for a total of 1,100 homes https://m.independent.ie/business/paschal-donohoes-department-says-regeneration-of-st-teresas-gardens-may-cost-500m/a286925946.html
- Calls for urgent action as 17,000 vacant dwellings recorded in Cork – According to the CSO, there were 5,061 vacant properties in Cork city along with 11,994 in Cork county during the last recorded census. https://www.echolive.ie/corknews/arid-41233513.html
- Cork’s first office-to-residential housing conversion project opens in Blackrock: The homes are specifically for people aged 60 and over who are looking to downsize their homes https://www.irishexaminer.com/news/munster/arid-41236954.html
- Marina Market set for multi-million euro investment after planning green light – This was its second bid for planning permission after having its first attempt turned down by Cork City Council late last year https://www.irishexaminer.com/news/munster/arid-41236936.html
- Galway people fume as plans for nearby motorway build ‘four times bigger’ than local Business Park https://www.galwaybeo.ie/news/galway-news/galway-people-fume-plans-nearby-8781620
- Local residents oppose plan for homelessness charity to expand Limerick drop-in centre https://www.limerickleader.ie/news/home/1306081/local-residents-oppose-plan-for-homelessness-charity-to-expand-limerick-drop-in-centre.html
- Wicklow County Council has entered into a lease agreement with Loreto Institute Property Trust for the former Loreto Convent, Bray, to provide accommodation for displaced Ukrainians for a period of two years. https://m.independent.ie/regionals/wicklow/bray-news/wicklow-county-council-confirms-building-at-centre-of-protests-will-only-house-ukrainians/a990879495.html
- Revised housing targets for Mayo county town revealed https://www.con-telegraph.ie/2023/09/30/revised-housing-targets-for-mayo-county-town-revealed/
- Priest takes High Court challenge claiming Donegal hotel works have damaged environment: Fr John Moore and Save Our Beach at Castlegoland claim certain Lake House Hotel and Portnoo Golf Club works lack planning permission https://www.irishtimes.com/crime-law/courts/2023/09/27/priest-takes-high-court-challenge-claiming-donegal-hotel-works-have-damaged-environment/
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.
- Interesting approach to planning for previously ‘one-off’ rural housing: Kildare County Council has granted planning permission for three single-storey type houses to form a family cluster. https://www.kildarenow.com/news/home/1310252/kildare-family-cluster-of-homes-being-built-in-donadea.html
- Discrepancy with one-off planning applications: Coastal Wexford property approved after An Bord Pleanala overturns council decision https://m.independent.ie/regionals/wexford/new-ross-news/coastal-wexford-property-approved-after-an-bord-pleanala-overturns-council-decision/a1050279311.html
- With grants of up to €96,000 available to renovate vacant properties, a derelict cottage could be transformed into a dream home. Here are eight of the best revival projects on the market https://m.independent.ie/farming/farm-property/with-grants-of-nearly-100000-to-renovate-vacant-properties-heres-8-cottages-that-could-become-a-dream-home/a2001204712.html
CONSTRUCTION, MMC & DEVELOPMENT NEWS
- Delighted to see three #MMCIreland members in the running to be awarded ‘MMC Project of the Year’ at this year’s Construction Industry Awards 👏 Best of luck to all finalists: https://www.irishtimes.com/advertising-feature/2023/09/21/the-best-of-irelands-construction-industry-named-in-awards-shortlist/
- Nama boss: House building here will remain ‘challenging’ for some time https://www.irishexaminer.com/news/arid-41235907.html
- Developers call for second-hand house levy in budget that could add €5,000 to sales price: The move would spread the cost of infrastructure and reduce cost on new home https://www.businesspost.ie/news/developers-call-for-second-hand-house-levy-in-budget-that-could-add-e5000-to-sales-price/
- Carbon, tendering points and staff morale: Why a new 35,000sqm Dublin warehousing complex is made of wood: High steel prices and demand for green standards have pushed developer Newpark Real Estate to switch to timber frames for its latest industrial buildings. Its financial backer Bain Capital supports the move. https://thecurrency.news/articles/129285/carbon-emissions-tendering-points-and-staff-morale-why-a-new-35000sqm-dublin-warehousing-complex-is-made-of-wood/
- Cairn Homes investing €10m in new apprenticeship academy: The home builder aims to tackle skills shortages in the construction sector, and double apprentice numbers on Cairn sites in five years https://www.irishtimes.com/business/2023/09/27/cairn-homes-investing-10-million-in-new-apprenticeship-academy/
- Paul McNeive: Construction experts Turner & Townsend are on a fast-track expansion https://m.independent.ie/business/commercial-property/paul-mcneive-construction-experts-turner-and-townsend-are-on-a-fast-track-expansion/a483340203.html
- Respond signs up to deliver €2bn of affordable housing: The charity has signed heads of terms with developers to start construction on around 3,400 homes in the next year https://www.businesspost.ie/news-focus/respond-signs-up-to-deliver-e2bn-of-affordable-housing/
- High Court quashes decision to grant planning for a 445-unit build-to-rent housing in Dublin: Fernleigh Residents Association had challenged the decision to give the go ahead for the construction of the apartments and childcare facility at Stepaside https://www.breakingnews.ie/ireland/high-court-quashes-planning-permission-for-build-to-rent-apartments-in-south-dublin-1531885.html
- Planning granted for 110 apartments in derelict 14-storey Sandyford block: Around the Block: The skeleton of the unfinished Sentinel building has loomed over the south Dublin skyline for 15 years https://www.irishtimes.com/property/residential/2023/09/28/planning-granted-110-apartments-in-derelict-14-storey-sandyford-block/
- Tetrarch seeks permission for ‘assisted living’ units on Mount Anville land – Development would consist of 100 apartments and 14 houses for people aged over 65 and would not impact on the schools or their sports facilities https://www.irishtimes.com/business/2023/09/30/tetrarch-seeks-permission-for-assisted-living-units-on-mount-anville-land/
- Charlie Chawke loses appeal over Goatstown vacant land charge: Appeals board dismisses defence that land at Goat Bar & Grill is used as a petting farm https://www.irishtimes.com/business/2023/09/28/charlie-chawke-loses-appeal-over-goatstown-vacant-land-charge/
- North Dublin site presents prospects for new residential development https://m.independent.ie/business/commercial-property/north-dublin-site-presents-prospects-for-new-residential-development/a1150697063.html
- Boom-time property investor loses case against Dublin 4 neighbour over right of way: The four-day trial heard claims about a Dublin 4 ‘ransom strip’ of land, a Bentley and an alleged demand for a €2 million house https://www.businesspost.ie/news/boom-time-property-investor-loses-case-against-dublin-4-neighbour-over-right-of-way/
- Prime sites in Finglas and Harold’s Cross ready for developing: Site in central Harold’s Cross is guiding €2m while a former pub in Finglas village is on the market for €1.5m – both come with planning permission https://www.businesspost.ie/property/prime-sites-in-finglas-and-harolds-cross-ready-for-developing/
- Red Rock logistics development to offer excellent access to Dublin, Cork and Limerick: The two units at Globe Logistics Park at Junction 9 on the M7 will have the highest specifications and sustainability credentials https://www.businesspost.ie/property/red-rock-logistics-development-to-offer-excellent-access-to-dublin-cork-and-limerick/
- More than 100 run-down Cork flats to be demolished for redevelopment: Residents have been told that the council would prefer to temporarily re-home the tenants to facilitate the demolition of the flats https://www.irishexaminer.com/news/munster/arid-41236486.html
- More apartments for Cork city with plans to knock long-empty southside properties: A welcome change from the current sight, where a row of buildings has sat vacant for years https://www.corkbeo.ie/news/property/more-apartments-cork-city-plans-27787128
- Landmark Patrick St building to be converted from empty office space to much needed housing: It’s the latest in a series of projects designed to breathe new life into Cork City https://www.corkbeo.ie/news/property/landmark-patrick-st-building-converted-27818009
- Permission has been granted for a new hotel right in the heart of the city, with a new 12-room ’boutique hotel’ just steps away from Patrick Street. https://www.corkbeo.ie/news/property/council-gives-go-ahead-new-27787765
- Historic’ €300m Galway ‘masterplan’ delivering Shopping Centre, hotel and hundreds of new homes: The plans near the train station would transform the city into one that could challenge anywhere in the world https://www.galwaybeo.ie/news/ireland-news/historic-300m-galway-masterplan-delivering-8766164
- Government confirms 92 modular homes for Ukrainian refugees in Ballinasloe https://connachttribune.ie/government-confirms-92-modular-homes-for-ukrainian-refugees-in-ballinasloe/
- Ex-construction firm’s Limerick offices are put on the market https://www.limerickleader.ie/news/home/1303175/ex-construction-firms-limerick-offices-are-put-on-the-market.html
- Temporary accommodation centre planned for site on the outskirts of Kilkenny City: Site to be master-planned over five years to determine most appropriate long-term use https://www.kilkennypeople.ie/news/local-news/1310775/temporary-accommodation-centre-planned-for-site-on-the-outskirts-of-kilkenny-city.html
- 1,200 homes at Ballymore’s Sea Gardens in Bray lead new housing schemes in Wicklow: Seaside neighbourhood with houses modelled on Victorian and Edwardian-style homes one of a number of new developments in the garden county https://www.irishtimes.com/property/residential/2023/09/27/1200-homes-at-ballymores-sea-gardens-in-bray-lead-new-housing-schemes-in-wicklow/
- Plans are lodged with Wicklow County Council for a new Lidl store in Blessington https://m.independent.ie/regionals/wicklow/west-wicklow-news/plans-are-lodged-with-wicklow-county-council-for-a-new-lidl-store-in-blessington/a1670407464.html
- Microsoft reveals plans for major data centre in Kildare with “large number” of jobs https://www.kildarenow.com/news/home/1308423/latest-microsoft-reveals-plans-for-major-data-centre-in-kildare-with-large-number-of-jobs.html
- Dunboyne landbank with scope for large residential development seeking €8.95m: Meath holding of 72.87 acres comprises 26.78 acres zoned for housing with remainder likely to be rezoned in the future, says agent https://www.irishtimes.com/property/commercial-property/2023/09/27/dunboyne-landbank-with-scope-for-large-residential-development-seeking-895m/
- Green light for over 70 houses at Cairns Hill in Sligo https://www.oceanfm.ie/2023/09/27/green-light-for-over-70-houses-at-cairns-hill-in-sligo/
- Developer plans to turn old Georgian building in Enniscorthy into ‘amusement and entertainment emporium’ https://m.independent.ie/regionals/wexford/enniscorthy-news/developer-plans-to-turn-old-georgian-building-in-enniscorthy-into-amusement-and-entertainment-emporium/a940013096.html
- Design team finally appointed for construction of new Wexford schools: The project saw major delays after the Department of Education initially acquired a site branded ‘wholly unsuitable’ https://m.independent.ie/regionals/wexford/wexford-district/design-team-finally-appointed-for-construction-of-new-wexford-schools/a189656722.html
- Combilift eyes €50m revenue as it pivots to offshore wind sector: Monaghan-based group ‘a trailblazer of innovation and a model for exporting companies’, says Enterprise Ireland chief Leo Clancy https://www.irishtimes.com/business/2023/09/25/combilift-eyes-50m-revenue-as-it-pivots-to-offshore-wind-sector/
- McAleer and Rushe wins €69m contract to deliver 196-unit residential development – Vacant site and former bus depot on London Road, Barking, will transform into a mixed-use development https://www.irishtimes.com/business/2023/09/25/mcaleer-and-rushe-wins-69m-contract-to-deliver-196-unit-residential-development/
- Billionaire Comer brothers’ group ordered to pull down two London apartment blocks – Spokesperson says developers are confident appeal against the decision will be successful. https://m.independent.ie/business/billionaire-comer-brothers-group-ordered-to-pull-down-two-london-apartment-blocks/a1273233387.html
- Joinery specialists to close after almost 40 years in business: Brothers Ivan and Carl Crowe call time on specialist joinery business based in Ballymun https://www.irishtimes.com/business/2023/09/28/joinery-specialists-to-close-after-almost-40-years-in-business/
- ‘We’re as dumb or as smart as anybody else’ – how CRH broke America: The materials giant is now bigger than the behemoths it competes with and is set for further expansion following its launch on the US stock exchange https://www.businesspost.ie/news-focus/were-as-dumb-or-as-smart-as-anybody-else-how-crh-broke-america/
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
- Andrew Lynch, the former co-founder of co-working space business Huckletree, has launched a startup called Homely that aims to help renters who have relatively high incomes but cannot initially secure a mortgage to buy a home after five years. https://m.independent.ie/business/huckletree-co-founder-andrew-lynch-launches-rent-to-buy-firm-homely/a275394677.html
- Shackle, an Ireland-based hospitality technology platform, has raised £12 million in a Series A funding round led by Silverstripe Investment Management Limited https://www.phocuswire.com/ireland-shackle-12-m-digital-hospitality-platform
- Real Estate Doldrums Prove Silver Lining For PropTech Firms: https://www.forbes.com/sites/jeffsteele/2023/09/29/real-estate-doldrums-prove-silver-lining-for-proptech-firms/
- Profitable, resident-centric proptech: Win-Win Scenarios for Residents and Property Managers: Discover how proptech is opening open new paths to revenue for owners and property managers, while bringing desirable amenities and conveniences for renters https://www.bdcnetwork.com/blog/win-win-scenarios-residents-and-property-managers
- Berlin-based proptech Novo snaps €1 million pre-seed to drastically reduce carbon emissions for homeowners https://www.eu-startups.com/2023/09/berlin-based-proptech-novo-snaps-e1-million-pre-seed-to-drastically-reduce-carbon-emissions-for-homeowners/
- Brussels-based proptech Izix secures €3 million Series A to optimize the use of office buildings’ parking lots https://www.eu-startups.com/2023/09/brussels-based-proptech-izix-secures-e3-million-series-a-to-optimize-the-use-of-office-buildings-parking-lots/
- Proptech startup Bambus closes funding round https://aimgroup.com/2023/09/28/proptech-startup-bambus-closes-funding-round/
- Bottom’s Up for Proptech Sentiment: investor and entrepreneur confidence ticks higher in MetaProp’s Mid-Year 2023 Confidence Index https://commercialobserver.com/2023/09/proptech-investor-confidence-2023-2024/
- ‘Alternative’ real estate listings portal launches in Australia with mass media backing – Real Estate Business https://www.realestatebusiness.com.au/tech/26577-alternative-real-estate-listings-portal-launches-with-mass-media-backing
ENERGY, CLIMATE & ENVIRONMENT
- Tax incentives and low finance scheme called for by banking body to encourage home retrofitting: Banking and Payments Federation Ireland urges more government action to make home energy upgrades more affordable for householders https://www.irishtimes.com/business/2023/09/25/tax-incentives-and-low-finance-scheme-called-for-by-banking-body-to-encourage-home-retrofitting/
- Retrofitting homes: Most energy upgrade scheme works found to be non-compliant https://www.irishexaminer.com/news/arid-41237458.html
- One-in-eight homes now in arrears on their energy bills https://m.independent.ie/business/personal-finance/one-in-eight-homes-now-in-arrears-on-their-energy-bills/a1205954670.html
- Energywise said it will add 100 jobs in Munster over the next two years. The company, which provides energy upgrades to residential buildings already employs 90 people at its premises in Cork and Ballyduff in Co. Kerry. https://www.irishexaminer.com/business/companies/arid-41236774.html
RESIDENTIAL PROPERTY NEWS (including PRS)
- Are property price rises about to take off again? https://www.rte.ie/news/business/2023/1001/1408108-are-property-price-rises-about-to-take-off-again/
- National three-bed semi price surpasses €300,000 – REA survey- https://www.irishrealestate.news/national-three-bed-semi-price-surpasses-e300000-rea-survey/
- Number of houses for sale across Ireland falls by 20% in year, Daft_ie report finds https://www.breakingnews.ie/ireland/number-of-houses-for-sale-across-ireland-falls-by-20-in-year-report-finds-1532588.html
- Tax breaks for landlords must come with ‘well designed’ conditions – Focus Ireland https://www.newstalk.com/podcasts/highlights-from-the-hard-shoulder/tax-breaks-for-landlords-must-come-with-well-designed-conditions-focus-ireland Also: Resistance to proposed landlord measures in Budget 2024: Mary McCarthy: Don’t bail out landlords – help the squeezed middle caught in rent trap https://m.independent.ie/opinion/comment/mary-mccarthy-dont-bail-out-landlords-help-the-squeezed-middle-caught-in-rent-trap/a1170547593.html
- Dozens of tenants renting from Irish fund rack up combined arrears of nearly €200,000: One-bed apartments on its books cost up to €2,000 per month https://m.independent.ie/irish-news/dozens-of-tenants-renting-from-irish-fund-rack-up-combined-arrears-of-nearly-200000/a1852220755.html
- Cork’s largest affordable homes scheme so far this year set for applications next week: The two- and three-bedroom houses will be available for around 26% and 23% below market value respectively https://www.irishexaminer.com/news/munster/arid-41235424.html
- Thinking of selling? Here’s our helpful guide to selling your property Maximise your chances of a great sale by listing your property on Daft.ie, Ireland’s number one property website. https://www.thejournal.ie/help-selling-your-home-6169767-Sep2023/
- Ten things to check before buying your new home – Do your homework now to avoid heartache later when embarking on the biggest purchase of your life https://www.irishtimes.com/property/residential/2023/09/28/ten-things-you-need-to-check-before-buying-your-new-home/
- ‘We did so many viewings’ – couple share housing issues https://www.rte.ie/news/business/2023/0925/1407116-real-estate-alliance-average-house-price/
- What are the pros and cons of buying a house with a friend? While pooling your financial resources with a pal might offer you a fast track to homeownership, it’s important to know the consequences if something goes wrong https://www.irishtimes.com/property/residential/2023/09/25/what-are-the-pros-and-cons-of-buying-a-house-with-a-friend/
- Buyer of five-bedroom detached home in Dublin 9 could develop one-acre site: Woodhurst is located on a private, tree-lined avenue in Santry and is guiding €1.7m https://www.businesspost.ie/property/buyer-of-five-bedroom-detached-home-in-dublin-9-could-develop-one-acre-site/
- New Dublin apartments from €310,000 in Lucan to €2.8m in Lansdowne Place: Capital’s new high-end properties likely to appeal to people downsizing or to international buyers looking for a Dublin base https://www.irishtimes.com/property/residential/2023/09/29/new-dublin-apartments-from-310000-in-lucan-to-28m-in-lansdowne-place/
- New homes in Kildare: apartments, duplexes and three-beds with studies from €280,000: The Bawnogues: Development of new homes sits just off the M4 in a charming Kildare town https://www.irishtimes.com/property/residential/2023/09/29/new-homes-in-kildare-apartments-duplexes-and-three-beds-with-studies-from-280000/
- Distinguished residential farm offering 60.2 acres of prime, versatile land for sale by public auction: Savills Ireland is delighted to present Snowtown House and Farm for sale by public auction on 19th October in the Bracken Court Hotel, Balbriggan https://www.farminglife.com/country-and-farming/distinguished-residential-farm-offering-602-acres-of-prime-versatile-land-for-sale-by-public-auction-4349787
- Limerick homeowners who wish to downsize urged to apply for rightsizing scheme https://www.limerickpost.ie/2023/09/28/limerick-homeowners-who-wish-to-downsize-urged-to-apply-for-rightsizing-scheme/
- Almost €40,000 to rent a four-bed semi-d in Limerick? Munster homeowners look to cash in on Ryder Cup in 2027 https://www.irishtimes.com/property/interiors/2023/10/01/almost-40000-to-rent-a-four-bed-semi-d-in-limerick-munster-homeowners-look-to-cash-in-on-ryder-cup-in-2027/
- More than 400 new homes near Lough Ree in Athlone from €310,000: Gracefields development by Glenveagh sits off M6 on the outskirts of vibrant Westmeath town https://www.irishtimes.com/property/residential/2023/10/01/gracefields-two-and-three-bed-homes-near-lough-ree-in-athlone-from-310000/
- Killarney’s Anfield Manor seized by CAB sells for over €330,000 https://www.radiokerry.ie/news/killarneys-anfield-manor-seized-by-cab-sells-for-over-330-thousand-euro-349310
- Self-build success: How one family saved ‘a small fortune’ by doing it themselves: Through hard work and a talent for interior design, Ciara and Seán Owens have created their forever home, nestled in the Fermanagh countryside https://www.irishtimes.com/property/interiors/2023/10/01/self-build-success-how-one-family-saved-a-small-fortune-by-doing-it-themselves/
COMMERCIAL PROPERTY NEWS
- Dublin hotel occupancy expected to hit 80% in 2024: Strong demand predicted to continue as number of properties changing hands tipped to hit valuation of €500 million this year https://www.businesspost.ie/property/dublin-hotel-occupancy-expected-to-hit-80-in-2024/
- A look at how rooms on Airbnb can work out more expensive than hotel stays: In many cases, cleaning fees and service charges are adding to costs https://m.independent.ie/irish-news/a-look-at-how-rooms-on-airbnb-can-work-out-more-expensive-than-hotel-stays/a64902266.html
- If you’re not ‘best in class’, you’re out of luck: behind the new office space shortage – An undersupply of ESG-compliant offices is expected by 2026 due to a growing number of buildings becoming obsolete or undesirable https://www.businesspost.ie/property/if-youre-not-best-in-class-youre-out-of-luck-behind-the-new-office-space-shortage/
- TikTok is set to take over the majority of the Dublin office of X (formerly known as Twitter), having agreed a sublease on the Fenian Street premises for up to five years https://www.irishtimes.com/business/2023/09/24/tiktok-set-to-take-over-majority-of-space-at-dublin-office-of-x/
- International Workplace Group (IWG) is opening a new flexible workspace building in Donnybrook, Dublin 4. The company, which operates through brands such as Space and Regus, said the move is in response to growing demand for hybrid working. https://amp.rte.ie/amp/1407496/
- Charlie Chawke pub business takes €2m property write-down: Publican paid €22m for two-acre site at The Orchard Inn in 2005 https://www.irishtimes.com/business/2023/09/27/charlie-chawke-pub-business-takes-2m-property-write-down/
- Former Cartamundi factory in Waterford guiding at €17.85m: Facility of 246,646sq ft on self-contained 13-acre site served for decades as production facility for Monopoly and other board games https://www.irishtimes.com/property/commercial-property/2023/09/27/former-cartamundi-factory-in-waterford-guiding-at-1785m/
- Bar and restaurant on offer for €1.5m in Bray seafront scheme: Former iconic hotel on Strand Road to be turned into scheme of homes with lounge and café attached https://www.businesspost.ie/property/bar-and-restaurant-on-offer-for-e1-5m-in-bray-seafront-scheme/
- Three new businesses to open in Arklow’s Bridgewater Shopping Centre https://m.independent.ie/regionals/wicklow/arklow-news/three-new-businesses-to-open-in-arklows-bridgewater-shopping-centre/a877317874.html
- An opportunity to be landlord to a bank has emerged at Bank of Ireland’s branch in Carlow town is up for sale. https://carlow-nationalist.ie/2023/09/26/carlow-bank-of-ireland-sale/
- Hotel close to Rock of Cashel committed to controversial extension https://www.irishexaminer.com/news/arid-41237041.html
- High-profile Roscommon business park comes to market for €2.1m: The Racecourse Road retail, warehousing and office site has plenty of parking while the annual net rental income stands at some €214,630 https://www.businesspost.ie/property/high-profile-roscommon-business-park-comes-to-market-for-e2-1m/
- ‘Some people say I could have been a great father’ – Francis Brennan looks back at 70: In reflective mood, the businessman discusses his decision to sell his beloved Park Hotel, his brother’s brush with cancer and his lessons for thinking young https://m.independent.ie/style/celebrity/celebrity-features/some-people-say-i-could-have-been-a-great-father-francis-brennan-looks-back-at-70/a1392398448.html
INTERNATIONAL PROPERTY NEWS
- Ranked: 15 of the World’s Least Affordable Housing Markets https://www.visualcapitalist.com/mapping-housing-market-affordability/
- The number of UK first-time buyers taking their first step on the property ladder will fall by more than a fifth this year, it has been predicted https://www.thetimes.co.uk/article/first-time-buyers-set-to-sink-by-a-fifth-t732w9bxc
- Offices in London have lost almost a fifth of their value over the past year, much more than blocks in most other European countries. https://www.thetimes.co.uk/article/london-offices-lose-nearly-a-fifth-of-their-value-in-a-year-73hxxftqd
- Barratt to demolish more homes with faulty foundations https://www.constructionenquirer.com/2023/09/27/barratt-to-demolish-more-homes-with-faulty-foundations/
- Meta is paying out a ‘staggering’ $181 million to give back London office space it can’t fill https://fortune.com/2023/09/26/meta-facebook-instagram-owner-mark-zuckerberg-london-office-lease-hybrid-work/ Also: Empty desks penalise landlords as office workers stay at home – Meta’s decision to hand back the keys to its London HQ is a sign of a market in limbo https://www.thetimes.co.uk/article/empty-desks-penalise-landlords-as-office-workers-stay-at-home-hc7wwfp9n
- More than a box, smarter than a prefab: modular housing is back, and this time with style: Companies have sprung up around Australia to produce housing that offers a new option amid the property crisis, and now governments are taking notice https://www.theguardian.com/australia-news/2023/sep/30/more-than-a-box-smarter-than-a-prefab-modular-housing-is-back-and-this-time-with-style
- Evergrande halts share trading as woes mount for China property giant: Suspension comes a month after developer resumed trading and follows its chair reportedly being put under police surveillance https://www.theguardian.com/business/2023/sep/28/evergrande-halts-share-trading-as-woes-mount-for-china-property-giant
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/