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: 

• Finance Bill 2022: key real estate measures  https://www.pwc.ie/issues/finance-act-2022/key-property-measures.html

 

• The Government’s housing plan is in disarray and it doesn’t look like it will deliver anytime soon either: Homelessness has reached record highs and owning or renting a home is unachievable for many people  https://m.independent.ie/irish-news/politics/the-governments-housing-plan-is-in-disarray-and-it-doesnt-look-like-it-will-deliver-anytime-soon-either-42074258.html

 

• Ministers’ short-term thinking won’t solve the housing crisis  https://www.thetimes.co.uk/article/ministers-short-term-thinking-wont-solve-the-housing-crisis-h85drv2bn

 

• Winter eviction ‘ban’ does little more than buy the government time: The problem with the rental market is not over-regulation but bad regulation, poorly enforced https://www.businesspost.ie/analysis-opinion/sarah-hamill-winter-eviction-ban-does-little-more-than-buy-the-government-time/

 

• Landlords ‘fear’ extension of temporary eviction ban next spring – New temporary moratorium on rental evictions to last until March 31st  https://www.irishtimes.com/ireland/2022/10/18/landlords-fear-extension-of-temporary-eviction-ban-next-spring/

 

• Any legal challenge to eviction ban would centre on proportionality, experts say: Legal academic suggests current Attorney General may have a more ‘bullish’ view on restricting property rights  https://www.irishtimes.com/ireland/housing-planning/2022/10/18/constitutional-test-of-eviction-ban-would-centre-on-whether-it-is-proportionate-experts-say/

 

• With construction costs and rates rising, the Central Bank intervenes in housing. Will buyers be better off? In relaxing lending standards, the Central Bank will make houses less affordable. With construction costs and interest rates rising, is this a price worth paying? https://thecurrency.news/articles/99418/construction-costs-could-freeze-the-housing-market-by-relaxing-lending-standards-the-central-bank-is-doing-its-bit-to-help/ 

 

• Government preparing to make emergency appointments to board of An Bord Pleanála: Anxiety in Coalition over growing backlog of planning cases before planning body and recent board departures  https://www.irishtimes.com/ireland/housing-planning/2022/10/17/government-preparing-to-make-emergency-appointments-to-board-of-an-bord-pleanala/

 

• Evictions ban will be time-limited and ‘must avoid forcing landlords out of sector’: The Housing Minister said there is an ‘acute’ accommodation crisis in Ireland https://www.dublinlive.ie/news/dublin-news/evictions-ban-time-limited-must-25287890.amp

 

• Tenants who ‘wilfully’ refuse to pay rent or damage property can still be evicted under any winter eviction ban  https://m.independent.ie/news/news-headlines/headlines-tenants-who-wilfully-refuse-to-pay-rent-or-damage-property-can-still-be-evicted-under-any-winter-eviction-ban-tributes-to-gaa-manager-who-died-after-collapsing-on-pitch-before-county-final-42073234.html

 

• Build-to-Rent kickstarted a rental construction boom. Why are they likely to be scrapped? The politics of Irish housing are so perverse that a highly successful scheme to stimulate the production of rental homes is about to be cancelled for political reasons. Here’s why Built-to-Rent worked, and why we still need it https://thecurrency.news/articles/99139/build-to-rent-kickstarted-a-rental-construction-boom-why-are-they-likely-to-be-scrapped/

 

• Concrete levy at 5% will be in place ‘for foreseeable’: The reduced rate is set to draw in €32m if revenue annually https://www.irishexaminer.com/news/politics/arid-40986623.html

 

• “It’s the industry or the taxpayer, make up your mind”  https://www.irishtimes.com/opinion/2022/10/21/taxpayer-picks-up-construction-industrys-bill-once-again/

 

• Quarry firm challenges community group’s legal capacity to bring High Court case: Ballyshannon Action Group asking court to allow it pursue challenge to planning permission granted for quarry  https://www.irishtimes.com/crime-law/courts/2022/10/20/quarry-firm-challenges-community-groups-legal-capacity-to-bring-high-court-case/

 

• Will informal inheritance arrangement come back to bite me? Q&A: Probate is obligatory for anything other than tiny estates and failing to follow the rules can create trouble later on https://www.irishtimes.com/your-money/2022/10/18/will-informal-inheritance-arrangement-come-back-to-bite-me/

 

• Watch: ‘Kip of the Year’ — Satirical video of dilapidated cottage ‘sums up’ Ireland’s housing waste  https://extra.ie/2022/10/17/property/delipidated-cottage-twitter

 

• New four-part TV series explores DIY building on a budget https://www.donegallive.ie/news/arts—entertainment/945098/new-four-part-tv-series-explores-diy-building-on-a-budget.html

 

• ‘Significant reduction in new data centres, but not off agenda’ https://www.irishexaminer.com/news/arid-40987094.html

 

• Cardinal Capital invests €30m in Northern Ireland kitchens company: Uform will use investment to grow the business in Ireland and the UK  https://www.irishtimes.com/business/2022/10/17/cardinal-capital-invests-30m-in-northern-ireland-kitchens-company/

 

• Kildare’s Riverstown House takes top prize in conservation awards: Irish Georgian Society’s Conservation Awards are back, after a three-year hiatus https://www.irishtimes.com/life-style/2022/10/22/kildares-riverstown-house-takes-top-prize-in-conservation-awards/

 

• The Blackstone rebellion: how one country took on the world’s biggest commercial landlord – podcast  https://www.theguardian.com/news/audio/2022/oct/17/the-blackstone-rebellion-how-one-country-took-on-the-worlds-biggest-commercial-landlord-podcast

 

• Government moves to close bankruptcy repayment loophole: The Insolvency Service complained to the Department of Justice about an aspect of the legislation ‘being abused by practitioners and debtors’ to delay payments to creditors  https://www.businesspost.ie/politics/government-moves-to-close-bankruptcy-repayment-loophole/

 

• Tributes have been paid to Dr Mirette Hanley Corboy, regarded as a pioneer for women in the construction industry, and the first and only female president of the Construction Industry Federation (CIF), who has died in Limerick, aged 92.  https://www.rte.ie/news/munster/2022/1020/1330408-mirette-hanley-corboy/

 

 

 

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

What started as #PropertyMatters, a single 60-minute show on Dublin South FM 93.9FM every Tuesday night, has now evolved into an online station hosting the very best construction, urban planning, property and proptech radio shows and podcasts from around the world. Our new website – produced by Hear Me Roar Media – offers audiences live and recorded access to global built environment content. To have your industry podcast included in the iPropertyRadio line-up, or to contribute as a guest on any of the show on iPropertyRadio.com, email hello@ipropertyradio.com 

 

BlockAngel’s Andrew Farrell – Digitising block management and tackling the sinking fund crisis 

 

In the iPropertyRadio.com Proptech Hot Seat today is Andrew Farrell, founder of Blockangel discussing the €60m of service charges that go uncollected each year in Ireland and the consequences of underfunded sinking funds.

“Every compliant apartment owner in Ireland is effectively paying a premium of 20% to compensate for non-paying owners – by tackling this, BlockAngel can reduce service charges for everyone…” Andrew Farrell

Produced by Hear Me Roar Media https://hearmeroarmedia.com 

Watch back and listen back: https://ipropertyradio.com/proptech-hot-seat/ 

 

 

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• More than 500 homes to be built on Digital Hub site in Dublin: Social and affordable apartments up to 12 storeys planned by Land Development Agency for Liberties site in Dublin 8  https://www.irishtimes.com/ireland/housing-planning/2022/10/17/more-than-500-homes-to-be-built-on-digital-hub-site-in-dublin/

 

• Housing Minister Darragh O’Brien announces 14 new Cost Rental homes for Donabate – Minister O’Brien said he would like to commend Tuath Approved Housing Body (AHB) for bringing forward this development https://www.independent.ie/regionals/dublin/fingal/housing-minister-darragh-obrien-announces-14-new-cost-rental-homes-for-donabate-42084701.html

 

• Energy efficiency concerns as Cork City has the oldest average house age in the country  https://www.echolive.ie/corknews/arid-40986395.html

 

• Derelict properties a ‘ticking timebomb’ threat to public safety, says Cork TD: It comes as firefighters had to make safe a derelict building in the heart of Cork city  https://www.irishexaminer.com/news/munster/arid-40987103.html

 

• Comer Brothers ‘threatening tourist attraction’s future’ as hotspot ‘disturbing private estate’: The attraction claims that its existence is under threat over Comer Homes  https://www.galwaybeo.ie/news/property/comer-brothers-threatening-tourist-attractions-7709901

 

• Health Minister to go to Government with final agreement on site for new hospital at Merlin Park  https://galwaybayfm.ie/galway-bay-fm-news-desk/health-minister-to-go-to-government-with-final-agreement-on-site-for-new-hospital-at-merlin-park/

 

• Leeside to Waterford City Super Greenway via Glanmire, Midleton and Youghal: The East Cork Sustainability Corridor will be the longest of its type in Ireland at over 120kms  https://www.corkbeo.ie/news/local-news/confirmed-leeside-waterford-city-super-25288253

 

• Almost €800,000 for road resurfacing on the Aran Islands  https://www.galwaydaily.com/news/transport/almost-e800000-for-road-resurfacing-on-the-aran-islands/

 

• Limerick architect: We need to learn to share communal spaces in Ireland  https://www.breakingnews.ie/amp/ireland/limerick-architect-we-need-to-learn-to-share-communal-spaces-in-ireland-1379288.html

 

• Another County Limerick post office scheduled to close  https://www.live95fm.ie/news/live95-news/another-county-limerick-post-office-scheduled-to-close/

 

• An Irish Atlantic Rainforest by Eoghan Daltun: a rewilding story as rich as his Beara rainforest  https://m.independent.ie/entertainment/books/book-reviews/an-irish-atlantic-rainforest-by-eoghan-daltun-a-rewilding-story-as-rich-as-his-beara-rainforest-42082071.html

 

• ‘Hesitancy’ among Ukrainian refugees to move to rural homes, Dáil told: Latest figures show 1,718 properties out of 10,587 potential pledges are in use  https://www.irishtimes.com/politics/2022/10/19/hesitancy-among-ukrainian-refugees-to-move-to-rural-homes-dail-told/

 

• Legal challenge to plans for former St Patrick’s Classical School  https://www.meathchronicle.ie/2022/10/21/legal-challenge-to-plans-for-former-st-patricks-classical-school/

 

• Inventory of thatched cottages in Ireland in the works – Minister Michael Noonan is hoping to come forward with some “positive proposals” for the future of thatching in Ireland.https://www.farmersjournal.ie/inventory-of-thatched-cottages-in-ireland-in-the-works-729958

 

 

 

CONSTRUCTION & DEVELOPMENT NEWS

• Building of homes is failing to meet targets, causing “an absolute storm” with the struggling sector expected to decline sharply next year.  https://businessplus.ie/news/building-of-homes/

 

• “The Irish Green Building Council nowhere suggests that Government should deliver fewer homes in a housing crisis, but by better using our existing stock, we can deliver more homes, faster, and reduce our carbon emissions…” https://www.irishtimes.com/opinion/letters/2022/10/17/irish-green-building-council/

 

• Builders should not decide housing locations, planning regulator says: Niall Cussen says it is ‘false to suggest we are running out of zoned land’ with thousands of permissions not used  https://www.irishtimes.com/ireland/housing-planning/2022/10/18/builders-should-not-decide-housing-locations-planning-regulator-says/

 

• Government considers plan to buy dormant housing projects – Buying developments which have planning permission but have not been commenced would release over 17,000 homes for cost rental housing https://www.businesspost.ie/news/government-considers-plan-to-buy-dormant-housing-projects/

 

• An Bord Pleanála signs off on developments for 438 homes: Permission given for developments in Naas and Enniskerry https://www.irishtimes.com/business/2022/10/18/an-bord-pleanala-signs-off-on-developments-for-438-homes/

 

• An Bord Pleanála will not oppose challenge to permission for 115 Dundrum apartments: It is understood the board concluded that it erred in how it applied a section of the local development plan https://www.irishtimes.com/crime-law/courts/2022/10/17/an-bord-pleanala-will-not-oppose-challenge-to-permission-for-115-dundrum-apartments/

 

• Part of children’s hospital facade replaced over ‘non-compliant’ insulation: Building board says issue has been resolved and the building is fire and building-regulation compliant  https://www.irishtimes.com/health/2022/10/21/part-of-childrens-hospital-facade-replaced-over-non-compliant-insulation/

 

• Developer Joe O’Reilly in talks to sell planned site of Dublin’s tallest residential building: Chartered Land chief weighs sale of ‘Hickeys site’ to UK property group as German investor pulls back from funding delivery of 30-storey tower  https://www.irishtimes.com/property/commercial-property/2022/10/19/developer-joe-oreilly-in-talks-to-sell-site-of-dublins-tallest-residential-building/

 

• Property firm wins appeal over sprinklers in basement car park: MB McNamara Construction, which is building a six-storey apartment building in Tallaght, has overturned a sprinklers requirement despite South Dublin Co Council’s objections  https://www.businesspost.ie/news/property-firm-wins-appeal-over-sprinklers-in-basement-car-park/

 

• Mater Hospital gets green light for nine-storey Covid expansion despite An Taisce objection: The hospital has said the development will increase its ICU capacity.  https://www.thejournal.ie/mater-hospital-expansion-an-taisce-5898092-Oct2022/

 

• Residential scheme in Crumlin given green light: Glebe House, a protected structure, is to be restored as part of Dublin 12 development which includes 145 apartments  https://www.irishtimes.com/business/2022/10/21/residential-scheme-in-crumlin-given-green-light/

 

• Pfizer to invest €1 billion in new Dublin biotech plant / The company, which already employs 4,000 people in Ireland, is understood to be at an advanced stage in its plans for the facility which would be one of the largest pharmaceutical investments in the history of the state  https://www.businesspost.ie/news/exclusive-pfizer-to-invest-e1-billion-in-new-dublin-biotech-plant/

 

• Grifols, a Barcelona-based leader in plasma-derived medicines, has opened a new albumin purification and filling plant at its global manufacturing and supply hub in Grange Castle, Dublin. The 183,000 sq ft extension brings Grifols’ total investment in Ireland over the past 10 years to €300m, and the company expects to increase its number of staff in Dublin from around 300 to over 500 by 2024. https://businessplus.ie/news/grifols-200-jobs/

 

• Aldi plots Dublin expansion as discounter battles ‘tsunami of costs’: ‘Middle aisle’ to be scaled back as price conscious shoppers turn-off higher-priced items  https://m.independent.ie/business/irish/aldi-plots-dublin-expansion-as-discounter-battles-tsunami-of-costs-42085696.html Also: Aldi ‘frustrated’ in search for Dublin outlet sites: Supermarket chain insists it will not overpay for locations in capital where many rivals better represented https://www.irishtimes.com/business/2022/10/22/aldi-frustrated-in-search-for-dublin-outlet-sites/ 

 

• O’Reilly Hylands seek Green light for city hotel  https://www.thetimes.co.uk/article/oreilly-hylands-seek-green-light-for-city-hotel-wbrhbmc6f

 

• Council refuse new Cork homes due to water supply concerns: It’s not the first time a development has been turned down due to potential water issues  https://www.corkbeo.ie/news/local-news/council-refuse-new-cork-homes-25299183

 

• Two key Cork projects delayed by An Bord Pleanála backlog: A “backlog of cases” at the beleaguered planning authority means the Penneys project has been delayed until January 3.  https://www.irishexaminer.com/property/developmentconstruction/arid-40985792.html

 

• Major new water pipeline to link two West Cork towns and boost house building: The new mains will connect Bandon Water Treatment Plant to Clonakilty and offer crucial infrastructure for development  https://www.corkbeo.ie/news/local-news/major-new-water-pipeline-link-25311530

 

• Massive increase sought by developer in number of beds in student housing complex: Planning permission was granted over a year ago  https://www.galwaybeo.ie/news/galway-news/massive-increase-sought-developer-number-7714887

 

• Exclusive Galway homes approved but only if developer obeys 25 conditions: The apartments can only be sold to individual purchases not corporate entities or companies https://www.galwaybeo.ie/news/property/exclusive-galway-homes-approved-only-7710022

 

• 170 proposed houses and apartments in Galway to be acquired for social housing  https://connachttribune.ie/170-proposed-houses-and-apartments-in-galway-to-be-acquired-for-social-housing/amp/

 

• Plans for 50 houses in Loughrea rejected by An Bord Pleanála  https://www.galwaydaily.com/news/housing/plans-for-50-houses-in-loughrea-rejected-by-an-bord-pleanala/

 

• Approval sought for whiskey maturation warehouse for new distillery  https://www.galwaydaily.com/news/approval-sought-for-whiskey-maturation-warehouse-for-new-distillery/

 

• Leitrim contractor fears new regulations will make insulation unaffordable  https://www.shannonside.ie/news/leitrim-contractor-fears-new-regulations-will-make-insulation-unaffordable-212696

 

• Profits at John Paul Construction climb to €18.7m as it diversifies  https://m.independent.ie/business/irish/profits-at-john-paul-construction-climb-to-187m-as-it-diversifies-42070965.html Also: John Paul Construction announces strategic partnership with TU Dublin  https://irishbuildingmagazine.ie/2022/10/18/john-paul-construction-announces-strategic-partnership-with-tu-dublin/ 

 

• House builders get boost from easing of mortgage loan rules: Looser credit standards will help support prices and margins  https://m.independent.ie/business/irish/house-builders-get-boost-from-easing-of-mortgage-loan-rules-42080511.html

 

• Sales, swaps, and deals: Johnny Ronan has just finalised €1.3bn of deals across his portfolio – After an intense six months, RGRE finalised a string of transactions involving some of the most high-profile sites and offices in Dublin: https://thecurrency.news/articles/99574/sales-swaps-and-deals-johnny-ronan-has-just-finalised-e1-3bn-of-deals-across-his-portfolio/

 

• Developer labelled ‘Mufti of Jerusalem’ in his bid to take case to Supreme Court: Michael O’Flynn told the Business Post he was ‘surprised at some of the remarks’ made in the High Court last week  https://www.businesspost.ie/news/developer-labelled-mufti-of-jerusalem-in-his-bid-to-take-case-to-supreme-court/

 

• LK Shields appoints Jamie Ritchie as head of projects and construction  https://www.irishlegal.com/articles/lk-shields-appoints-jamie-ritchie-as-head-of-projects-and-construction

 

 

 

PROPTECH, ESG, MMC & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2022 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

 

• The building site of the future… from design and production, right through to site management 5G, BIM, big data, automation, artificial intelligence, drones, offsite construction, green, VR, AR, XR… what are we missing?  🔗 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

 

• Irish Startup Funding & Global Proptech Investment – Proptech Ireland https://prop-tech.ie/irish-startup-funding-global-proptech-investment/

 

• UK’s first 3D-printed homes scheme being delivered by Irish firm  https://www.siliconrepublic.com/machines/uk-3d-printed-homes-harcourt-technologies-htl

 

• Young proptech entrepreneur looking to ‘disrupt’ student rental market: Harry Panter says his Housr app offers both students and letting agents a better way to manage the specific challenges of student tenancies https://thenegotiator.co.uk/young-proptech-entrepreneur-looking-to-disrupt-student-rental-market/

 

• PropTech pair offer agents route to boost commission https://www.lettingagenttoday.co.uk/breaking-news/2022/10/proptech-pair-offer-agents-route-to-boost-commission

 

• 2023 VC predictions: Finding an exit from the ‘messy middle’  https://techcrunch.com/2022/10/17/2023-vc-predictions-finding-an-exit-from-the-messy-middle/

 

• Proptech Market: Industry Forecast to 2029| Size 2022, Statistics, Share, Growth Rate, Trends, Regional Analysis by Key Players – Read more: https://www.digitaljournal.com/pr/proptech-market-industry-forecast-to-2029-size-2022-statistics-share-growth-rate-trends-regional-analysis-by-key-players#ixzz7iC7SSo5r

 

• Late-Stage Proptech Players Face a Reckoning: As valuations plunge, venture capital is backing off, forcing these firms to sink or swim https://www.globest.com/2022/10/17/late-stage-proptech-players-face-a-reckoning/?slreturn=20220919152243

 

• POWER PROPTECH 2022: The 30 Most Powerful People in Commercial Real Estate Proptech https://commercialobserver.com/power-series/power-proptech-2022/

 

• PropTech Companies Are Not Immune to The Great Resignation  https://www.propmodo.com/proptech-companies-are-not-immune-to-the-great-resignation/

 

• Six material innovations aimed at slashing concrete’s outsized carbon footprint  https://www.dezeen.com/2022/10/21/concrete-carbon-emissions-material-innovations/

 

• World’s first carbon-eating concrete blocks are weeks away from commercial use: The novel cement-free process will help remove 330 lbs (150 kgs) of Co2 for every ton of concrete produced.  https://interestingengineering.com/science/worlds-first-carbon-eating-concrete-blocks

 

• PropertyGuru acquires home-service company SendHelper – AIM Group https://aimgroup.com/2022/10/15/propertyguru-acquires-home-service-company-sendhelper/

 

• 5 ways proptech enhances land listings – Proptech applications are creating enhanced marketing, improved branding, better customer engagement and easy access to improved data https://www.inman.com/2022/10/17/5-ways-proptech-enhances-land-listings/

 

• Landis Rent to Own Proptech Raises $40 Million Series B https://www.crowdfundinsider.com/2022/10/197587-landis-rent-to-own-proptech-raises-40-million-series-b/

 

 

CLIMATE & ENVIRONMENT

• Ireland’s first PPA for large-scale solar: Allied Irish Banks will buy electricity from two solar parks that NTR is now developing. The power purchase agreement has a duration of 15 years.  https://www.pv-magazine.com/2022/10/18/irelands-first-ppa-for-large-scale-solar/

 

• After a late start, Ireland finally turns its face to the sun: Statkraft is building one of Ireland’s biggest solar farms at Ballymacarney on the Dublin-Meath border. But is the country ready to take full advantage of the benefits of solar power?  https://www.businesspost.ie/news-focus/lorcan-allen-after-a-late-start-ireland-finally-turns-its-face-to-the-sun/

 

• Wind energy company Corio Generation has appointed Danish consulting engineer Cowi as engineering designer for the Sceirde Rocks development off the coast of Ireland.  https://www.theconstructionindex.co.uk/news/view/cowi-secures-engineering-design-contract-for-irish-wind-farm?amp=1

 

• Government rules out nuclear power: The Government will not be taking the advice of Engineers Ireland to build Small Modular Reactors (SMRs), Michael McGrath has said.  https://www.newstalk.com/news/government-rules-out-nuclear-power-1393987

 

• Energy regulator decision scuppers 60% of planned gas plants: Single Energy Market committee rejected proposals to give more flexibility to capacity contracts if projects are held up by third-party delays  https://www.businesspost.ie/news/energy-regulator-decision-scuppers-60-of-planned-gas-plants/

 

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Typical income for Irish house buyers rises to over €71,000: New CSO figures show purchasers are also getting older, which housing experts say is leading to social issues  https://www.businesspost.ie/news/typical-income-for-irish-house-buyers-rises-to-over-e71000/

 

 

• Q&A: How have Ireland’s mortgage lending rules changed? The Central Bank said the changes have been 18 months in gestation and that they recognise that the housing market in Ireland has changed structurally.  https://www.irishexaminer.com/business/economy/arid-40987253.html

 

• Auctioneers say easing of lending rules will help home buyers but impact will vary: Under Central Bank rule changes, first-time buyers will now be able to borrow up to 4 times their annual income https://www.irishtimes.com/ireland/2022/10/19/auctioneers-say-easing-of-lending-rules-will-help-home-buyers-but-impact-will-vary/

 

• ‘It’s going to drive house prices up’ – Room to Improve’s Patricia Power on new mortgage lending rules  https://m.independent.ie/irish-news/its-going-to-drive-house-prices-up-room-to-improves-patricia-power-on-new-mortgage-lending-rules-42086588.html

 

• Central Bank mortgage lending limit could break log jam of would-be buyers with high rents: There will still be problems of supply, and the activities of lenders who can impose their own mortgage and deposit lending limits on applicants  https://www.businesspost.ie/property/central-bank-mortgage-lending-limit-could-break-log-jam-of-would-be-buyers-with-high-rents/

 

• Over 500 first-time buyers approved for financial supports under First Home Scheme  https://www.breakingnews.ie/amp/ireland/508-first-time-buyers-approved-for-financial-supports-under-first-home-scheme-1380696.html

 

• Revenue to introduce strict conditions for vacant home tax exemptions: Homeowners will be required to keep records of household bills on vacant homes for six years in order to avoid the new tax https://www.businesspost.ie/news/revenue-to-introduce-strict-conditions-for-vacant-home-tax-exemptions/

 

• Report finds lowest availability of rental properties since data collection began  https://www.rte.ie/news/ireland/2022/1016/1329557-rental-report/

 

• Does Generation Rent finally have the politicians on its side? As Fine Gael agrees to implement opposition policies such as an eviction ban and renter’s tax credit to avoid a winter homeless disaster, the political balance may be gradually shifting away from landlords to renters https://www.businesspost.ie/news-focus/does-generation-rent-finally-have-the-politicians-on-its-side/

 

• Hammerson-Allianz joint venture commences building its first-ever residential-led scheme in Ireland  https://www.hammerson.com/news-insights/press-releases/hammerson-allianz-joint-venture-commences-building-its-first-ever

 

• Proportion of homes bought jointly rises to 60.3% in 2021  https://www.rte.ie/news/business/2022/1018/1329893-cso-residential-property-purchasers/

 

• Tenants in entire Dublin apartment block face eviction: Tenants in Tathony House ‘upset’ and ‘worried about future’ after receiving notice from landlord  https://www.irishtimes.com/ireland/social-affairs/2022/10/22/tenants-in-entire-dublin-apartment-block-face-eviction/

 

• Tenant awarded €10,000 for discrimination after her landlord refused to sign a HAP form  https://m.independent.ie/news/tenant-awarded-10000-for-discrimination-after-her-landlord-refused-to-sign-a-hap-form-42083165.html

 

• Local property tax valuation concerns are flagged to Revenue officials: Homeowners who buy or build over the next three years could end up paying higher LPT  https://m.independent.ie/business/personal-finance/tax/local-property-tax-valuation-concerns-are-flagged-to-revenue-officials-42086404.html

 

• Dubliner who had five ‘sale agreed’ deals fall through says buying a home in Derry is ‘100pc more doable’  https://m.independent.ie/irish-news/dubliner-who-had-five-sale-agreed-deals-fall-through-says-buying-a-home-in-derry-is-100pc-more-doable-42080781.html

 

• A €2m restoration, underground tunnels and a pub – Who will buy ‘the finest house in Dublin’ ?  https://m.independent.ie/life/home-garden/a-2m-restoration-underground-tunnels-and-a-pub-who-will-buy-the-finest-house-in-dublin-42083321.html

 

• Press Up co-founder puts architect-designed Lad Lane home on the market for €1.775m: Matt Ryan’s Dublin 2 house was reimagined to capitalise on its canalside location, a few doors down from where Ryan’s mother, the late Caroline Walsh, grew up  https://www.irishtimes.com/property/residential/2022/10/20/press-up-founder-puts-architect-designed-lad-lane-home-on-the-market-for-1775m/

 

• House hunting in Cork? This TV show wants to help you find the perfect gaff  https://www.yaycork.ie/house-hunting-in-cork-this-tv-show-wants-to-help-you-find-the-perfect-gaff/

 

• You don’t need to be flush with cash for €45k West Cork island home with no loo: Prepare for WC Fields jibes for abandoned Cape Clear island home on tiny site with no toilet or waste tank: compost toilet, anyone?    https://www.irishexaminer.com/property/residential/arid-40983392.html

 

• Half of all septic tanks in Cork not working efficiently  https://www.echolive.ie/corknews/arid-40985567.html

 

 

• Kerry county council goes door to door to tackle tourist lets: ‘There is unfortunately an enthusiasm to make pariahs out of people short-term letting’ https://www.irishexaminer.com/news/munster/arid-40986527.html

 

• Looking for a home in Kerry? From €99k for a three-bed fixer-up to €575k for a transformed period home – What’s the going rate? A county-by-county guide to what’s new on the market  https://www.irishtimes.com/property/residential/2022/10/17/looking-for-a-home-in-kerry-from-99k-for-a-three-bed-fixer-up-to-575k-for-a-transformed-period-home/

 

• Picturesque projects on the Hook Pennisula and Leitrim lake region: Five-bed home near Hook Lighthouse in Fethard-on-Sea and farmhouse in Fenagh are both expected to generate strong interest, given their scenic locations  https://www.businesspost.ie/property/picturesque-projects-on-the-hook-pennisula-and-leitrim-lake-region/

 

• Is my neighbours’ big extension exempt from planning permission? Property Clinic: After they drilled along the internal dividing wall, we’ve also been able to hear far more noise from their house, including their conversations  https://www.irishtimes.com/property/residential/2022/10/18/is-my-neighbours-big-extension-exempt-from-planning-permission/

 

• More than 4 in 10 Irish homes are not adequately insured: Older homeowners are better for reviewing cover, survey finds.  https://www.tipperarylive.ie/news/property/941325/more-than-4-in-10-irish-homes-are-not-adequately-insured.html

 

• Home staging: Add thousands to the value of your home with a careful do-over https://www.irishtimes.com/life-style/2022/10/22/home-staging-add-thousands-to-the-value-of-your-home-with-a-careful-do-over/

 

 

 

 

COMMERCIAL PROPERTY NEWS

• Sherry FitzGerald to re-enter commercial property and to expand mortgage broker unit: Estate agent exited commercial property sector in 2018 with sale to Cushman & Wakefield https://www.irishtimes.com/business/2022/10/21/sherry-fitzgerald-to-re-enter-commercial-property-and-to-expand-mortgage-broker-unit/

 

• KKR and Palm Capital pay €17m for Dublin 22 industrial scheme: Sale of Cloverhill Industrial Estate represents third and final asset disposal from €48 million Novelty Portfolio  https://www.irishtimes.com/property/commercial-property/2022/10/19/kkr-and-palm-capital-pay-17m-for-dublin-22-industrial-scheme/

 

• Credit Suisse nears full occupancy at Dublin docklands office following €22m refurbishment: New Century House upgraded to LEED platinum standard and quoting rent of €54 per sq ft under new name of Dockline  https://www.irishtimes.com/property/commercial-property/2022/10/19/credit-suisse-nears-full-occupancy-at-dublin-docklands-office-following-22m-refurbishment/

 

• LinkedIn scales back Dublin office space expansion plans  https://www.rte.ie/news/business/2022/1021/1330561-linkedins-dublin-offices/

 

• Kennedy Wilson secures three blue-chip tenants at 20 Kildare Street – Dentons, Aircastle and Davidson Kempner sign long-term leases on offices at newly refurbished scheme in heart of Dublin’s traditional business district  https://www.irishtimes.com/property/commercial-property/2022/10/19/kennedy-wilson-secures-three-blue-chip-tenants-at-20-kildare-street/

 

• Grand office building at Lord Edward Street asking €8.8m: Period property near Christchurch in Dublin was fully redeveloped in 2007 and generates a rent roll of nearly €600k per annum https://www.businesspost.ie/property/grand-office-building-at-lord-edward-street-asking-e8-8m/

 

• Ireland’s first Hoxton Hotel to open at site of Central Hotel on Dublin’s Exchequer Street: Former Central Hotel to re-open for business in 2024 along with ‘revitalised’ Rí-Rá nightclub and Globe bar  https://www.irishtimes.com/property/commercial-property/2022/10/17/irelands-first-hoxton-hotel-to-open-on-dublins-exchequer-street/

 

• Tessuti to open first Irish store at Jervis Shopping Centre: High-end fashion retailer agrees long-term lease on former Topshop premises  https://www.irishtimes.com/property/commercial-property/2022/10/19/tessuti-to-open-first-irish-store-at-jervis-shopping-centre/

 

• BidX1 auction has 125 lots with combined guide price of €28m: The most valuable lot is Charthouse Business Centre, Richmond Road, Dublin 3 with a guide price of €2.5 million https://www.businesspost.ie/property/bidx1-auction-has-125-lots-with-combined-guide-price-of-e28m/

 

• Dunnes sued for not reopening its Merchant’s Quay store in Cork: Court heard that Dunnes removed all its stock from the unit which has left it in “an obviously vacant state which is unattractive” for both customers and for the smaller tenants in the centre https://www.irishexaminer.com/business/companies/arid-40985558.html

 

• North Face is the new face on “Pana” as Frasers fits out Mahon Point: Frasers will fill the lower mall at the former Debenhams in Mahon Point, while the contract is thought to have gone out to potential new owners of Debenhams’ St Patrick’s Street store  https://www.irishexaminer.com/property/commercial/arid-40987499.html

 

• Three-storey Ballsbridge Victorian by US embassy for sale for €3.75m: This fully refurbished home on Elgin Road, in Dublin 4, includes an apartment and consulting rooms that could easily become part of the main house again  https://www.irishtimes.com/property/residential/2022/10/20/three-storey-ballsbridge-victorian-by-us-embassy-for-sale-for-375m/

 

• High-yielding service station and retail units come to market: Significant interest is expected in the two investment opportunities in Kildare and Swords, which are to be sold via the iamsold bidding platform  https://www.businesspost.ie/property/high-yielding-service-station-and-retail-units-come-to-market/

 

• Stylish Cork city bar goes up for rent just months after hyped relaunch: The venue, which spans over three floors, had a big reopening last March  https://www.corkbeo.ie/news/local-news/stylish-cork-city-bar-goes-25302442

 

• ONE OF the most famous pubs in rural Ireland is on the market.  https://www.irishpost.com/property/historic-irish-rural-pub-comes-up-for-sale-241896

 

• Unit once home to English Market’s longest serving business goes up for sale: Two former butchers stalls in prime English Market spots have gone up for sale https://www.corkbeo.ie/news/local-news/unit-once-home-english-markets-25313846

 

• Chance to leap into equine business with stud farm duo: Two farms of just over 100 and 50 acres near Celbridge, Co Kildare formed part of world renowned Derrinstown Stud, and both include residences  https://www.businesspost.ie/property/chance-to-leap-into-equine-business-with-stud-farm-duo/

 

• Wicklow councillor and Cathaoirleach of the Baltinglass Municipal District John Mullen has welcomed the news that the purchase of the Bank of Ireland Building in Carnew has been completed.  https://m.independent.ie/regionals/wicklow/news/cllr-mullen-welcomes-completion-of-sale-of-carnew-bank-of-ireland-to-wicklow-county-council-42077330.html

 

• Home Store + More to open in Athlone  https://www.westmeathindependent.ie/2022/10/21/home-store-more-to-open-in-athlone/

 

• Longford co-working hub nominated for EU Enterprise Award: Coworx was set up by volunteers in the former Ulster Bank branch after it closed in 2017 and is credited with bringing life back to the Co Longford town  https://www.businesspost.ie/news/longford-co-working-hub-nominated-for-eu-enterprise-award/

 

• Invest in Kerry income-earning options with ‘blue chip’ tenants: Options include Killarney town centre withe ETB as a tenant and on the Wild Atlantic Way’s Waterville with the HSE paying rent  https://www.irishexaminer.com/property/residential/arid-40987427.html

 

• Dan Shannon rejoins CBRE again to lead advisory and transaction services – Tenant representation specialist has amassed 14 years’ experience in Dublin office market working with Knight Frank and CBRE https://www.irishtimes.com/property/commercial-property/2022/10/19/dan-shannon-rejoins-cbre-again-to-lead-advisory-and-transaction-services/

 

• Tight supply gives property sector employees the whip hand: A new property salary survey conducted by Avril Clare recruitment reveals no sign of a slowdown in the property jobs market  https://www.businesspost.ie/property/tight-supply-gives-property-sector-employees-the-whip-hand/

 

 

INTERNATIONAL PROPERTY NEWS

• These Global Cities Show the Highest Real Estate Bubble Risk  https://www.visualcapitalist.com/global-real-estate-bubble-risk-2022/

 

• Supply and demand disparity sending rents to record levels: A nine-year low available rental accommodation has seen demand for rooms catapulted to an all-time high and rents soar by a massive 32% in the same period with no sign they’re slowing down.  https://www.propertyreporter.co.uk/landlords/supply-and-demand-disparity-sending-rents-to-record-levels.html

 

• Goldman Sachs sounds alarm on UK commercial property: Bank predicts prices could fall 15 to 20% by the end of 2024  https://www.ft.com/content/f4f96cf7-29a2-4416-a1cd-83ea362cfcaa

 

• UK Mortgage Market Shows Signs of Steadying  https://www.bloomberg.com/news/articles/2022-10-17/signs-the-mortgage-market-is-steadying-as-fixed-rates-remain-static

 

• House prices in London rise again but agents warn that crash ‘now inevitable’  https://uk.finance.yahoo.com/news/house-prices-london-rise-again-110640585.html

 

• Property giant secures £36m to buy student residential schemes in Aberdeen and southern England: OakNorth Bank does deal with Clearbell  https://www.insider.co.uk/news/property-giant-secures-36m-buy-28279021.amp

 

• Foreigners are paying more than ever for property in Spain: Foreigners are splashing out more on property in Spain than ever before with an average of €2,062 for each m2, new data reveals. Brits are still buying the most homes, but there are many other nationalities that are spending much more on acquiring a Spanish home.  https://www.thelocal.es/20221018/foreigners-are-paying-more-than-ever-for-property-in-spain/

 

• Credit Suisse places U.S. asset management arm for sale – source | Reuters https://www.reuters.com/business/credit-suisse-starts-sale-us-asset-management-arm-bloomberg-news-2022-10-17/

 

• US Office Outlook – Q3 2022: US Office Market Statistics, Trends & Outlook https://www.us.jll.com/en/trends-and-insights/research/office-market-statistics-trends 

 

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/