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:

• Housing on the right track, but still off target: Despite all the politicking, it might just be that Ireland is on the right track when it comes to building homes. But decades of underachievement have us on the back foot https://www.irishexaminer.com/opinion/ourview/arid-41256523.html

 

• Department denies ‘census town’ change will affect CPO powers: Labour Party says change to term by CSO means Act setting up LDA can no longer allow compulsory acquisition of certain land for social housing https://www.irishtimes.com/ireland/2023/10/23/minister-denies-change-in-terminology-in-census-will-impact-on-power-of-state-to-acquire-land/

 

• Landlords selling up will have to give tenant option to buy as delayed legislation goes to Cabinet: The much-delayed law has been promised since the eviction ban was lifted earlier this year. https://www.thejournal.ie/tenant-right-to-purchase-cabinet-6204922-Oct2023/

 

• It appears the term ‘unauthorised development’ doesn’t exist for some landlords: We found conditions for a minor development too cumbersome to proceed while others seem to ignore regulations altogether https://www.irishtimes.com/property/residential/2023/10/24/it-appears-the-term-unauthorised-development-doesnt-exist-for-some-landlords/

 

• Ires Reit quashes a revolution: It’s been a turbulent few months for Ireland’s biggest landlord, Ires Reit, with shareholders making a move against management, citing frustration over its direction. https://www.businesspost.ie/analysis-opinion/post-script-ires-quashes-revolt-journalists-grilled-bertie-gives-advice/

 

 

• ‘A limit on our capacity’: housing crisis leaves Ireland struggling to support Ukraine refugees Dublin seeks to limit newcomers’ stay in government accommodation but still wants to show solidarity with Kyiv https://www.ft.com/content/88ea6e77-b18e-4388-8280-ccc1ae2ffde6

 

• Cabinet to agree financial support for flooded Cork and Waterford properties https://www.irishexaminer.com/news/arid-41254165.html

 

• How to protect yourself against flooding – and how to recover: Flooding is becoming a much more frequent event – and insurers are less and less willing to cover it. Here’s how to keep your home and business protected https://www.businesspost.ie/article/how-to-protect-yourself-against-flooding-and-how-to-recover/

 

• MEPs to travel to Donegal to discuss defective mica blocks and to engage with local authorities and residents, campaigners and experts on the defective concrete blocks used in the construction of buildings across Ireland https://www.donegallive.ie/news/local-news/1334090/meps-to-travel-to-donegal-next-week-to-discuss-defective-mica-blocks.html

 

• Invitation for Expressions of Interest: Reformed National Skills Council https://www.gov.ie/en/publication/f9ded-invitation-for-expressions-of-interest-refreshed-national-skills-council/

 

• Amazon Web Services (AWS) has increased Ireland’s economic output by €11.4bn since 2012, according to a report commissioned by the company from Indecon https://businessplus.ie/news/aws-irelands-economic-output-by-e11-4bn/

 

• The 10 Best Hotels In Dublin https://www.forbes.com/sites/forbes-personal-shopper/article/best-hotels-in-dublin/

 

• The Indo Daily: John Magnier – the private billionaire’s many public battles https://www.msn.com/en-ie/news/world/the-indo-daily-john-magnier-the-private-billionaire-s-many-public-battles/ar-AA1iN7ad

 

• Irish pair’s homegrown alternative to banks is branching out: Pat Walsh and Ross Morrow’s homegrown alternative to banks sees potential in the Benelux region https://www.thetimes.co.uk/article/irish-pairs-homegrown-alternative-to-banks-is-branching-out-7jr6ps0jz

 

• Former solicitor on trial accused of theft of over €27 million from banks and building societies: The prosecution alleges that Lynn ‘deceived’ these banks and building societies over a nine-month period between October 2006 and June 2007 https://www.thejournal.ie/michael-lynn-former-solicitor-goes-on-trial-thef-from-banks-building-societites-6206800-Oct2023/

 

 

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

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

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

 

 

SUNDAY LISTEN

This week on iPropertyRadio… 

 

#Property Roundup

On #PropertyRoundup Niall Browne, Partner at O’Donnellan & Joyce Auctioneers, Private Treaty & New Homes Manager, joins us to discuss the new homes market, development land and the pipeline for Galway City and County in 2024. Listen back to the full interview to hear more. 

 

For more information go to the website – https://odj.ie/

*Property Roundup is sponsored by Daft.ie, Ireland’s most visited property website 

 

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

 

#Proptech Hot Seat

In the ‘Proptech Hot Seat’ this week Sean O’Dwyer, AEC Division Manager with Symetri, join us to discuss the Symetri’s offering, how their software integrates with MMC companies and how CAD and BIM help in achieving symmetry and precision in design and construction projects. 

 

Listen back to the full interview to hear Sean’s advice for companies looking into this technology and exploring their options. 

 

Learn more about Symetri – https://www.symetri.ie/

 

Proptech Hot seat is sponsored by Proptech Ireland, the hub for innovators, investors and industry leaders https://prop-tech.ie/

 

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

 

 

#BreakingGround

 

On #BreakingGround we are joined by Pat O’Mahony, author of ‘Rethinking Housing Options for Senior Citizens: Retirement villages in every Irish community’ to talk about self-funded retirement developments and why these villages are essential for the older generation across Ireland. 

 

For more information, click here 👉 https://retirementvillagesireland.ie/

 

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

 

• PLACEengage | Public Consultation & Community Engagement for Delivering Ireland’s Greenways https://placeengage.com/public-consultation-community-engagement-for-delivering-irelands-greenways/

 

• Communities around Ireland benefit from highest ever level of investment in wastewater infrastructure https://www.water.ie/news/communities-around-irelan/

 

• “Disturbing” – Man lay dead in derelict Cork house for more than two decades, inquest hears https://www.irishcentral.com/news/tim-osullivan-cork.amp

 

• Ardú Street Art reveals new mural in Cork City- https://placeengage.com/ardu-street-art-reveals-new-mural-in-cork-city/

 

• Waterford action group meets in Clonea Power Parish Hall to resist solar farm plans https://m.independent.ie/regionals/waterford/news/waterford-action-group-meets-in-clonea-power-parish-hall-to-resist-solar-farm-plans/a776646556.html

 

• Inistioge residents nervous as water levels in River Nore rise https://www.breakingnews.ie/ireland/inistioge-residents-nervous-as-water-levels-in-river-nore-rise-1543207.html

 

• Glendalough House residents left in dark over plans to house 950 Ukrainians https://m.independent.ie/regionals/wicklow/wicklow-district/glendalough-house-residents-left-in-dark-over-plans-to-house-950-ukrainians/a1300357186.html

 

• Last call for submissions on Shannon byelaws: Five-day rule to combat ‘hogging’ of harbour space https://www.nenaghguardian.ie/2023/10/26/last-call-for-submissions-on-shannon-byelaws/ 

 

• €42.85m was invested in greenway projects out of a €60m allocation fund. €17 million of this was unspent and carried into 2023. In 2022, 70 projects were funded by Transport Infrastructure Ireland (TII) which were all at different stages at development. https://www.agriland.ie/farming-news/e17m-of-greenway-funding-unspent-in-2023/

 

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. 

 

• Soaring rents, evictions, and a shortage of housing — welcome to rural Ireland: An analysis of 11 rural counties, from Clare to Kerry and Tipperary to Waterford, shows the housing crisis in not just confined to the cities https://www.irishexaminer.com/opinion/commentanalysis/arid-41254393.html

 

• Over 500 vacant and derelict properties identified in Laois towns https://www.ireland-live.ie/news/laois-live/1332904/over-500-vacant-and-derelict-properties-identified-in-laois-towns.html

 

• Our Rural Future: Minister Humphreys officially opens the €1 million New Ross Emigrant Park https://www.gov.ie/en/press-release/672f6-our-rural-future-minister-humphreys-officially-opens-the-1-million-new-ross-emigrant-park/

 

• Harsh reality of climate change brought home to Mayo property owners https://www.con-telegraph.ie/2023/10/28/harsh-reality-of-climate-change-brought-home-to-mayo-property-owners/

 

CONSTRUCTION, MMC & DEVELOPMENT NEWS

• Big win for developers as O’Brien scraps ‘use it or lose it’ penalty: Department of Housing will now not introduce a clause to strip developers of planning permission to build homes on land that they fail to develop in the new Planning and Development Bill https://www.businesspost.ie/news/big-win-for-developers-as-obrien-scraps-use-it-or-lose-it-penalty/

 

• Some 22,000 new homes built so far this year as apartment boom in Dublin continues: CSO’s new dwellings completion series provides the most accurate picture of residential construction rates in the State https://www.irishtimes.com/business/2023/10/25/some-22000-new-homes-built-so-far-this-year-as-apartment-boom-in-dublin-continues/

 

• Ireland needs 120,000 new construction workers to achieve climate and housing targets  https://www.irishexaminer.com/news/arid-41254492.html

 

• Landowners including Dublin City University bring High Court challenges over inclusion for ‘land hoarding tax’ – High Court judicial review actions centre on An Bord Pleanála’s decisions to uphold findings by local authorities that properties should be included on maps of sites where Residential Zoned Land Tax applies https://www.irishtimes.com/business/2023/10/23/landowners-including-dublin-city-university-bring-high-court-challenges-over-inclusion-for-land-hoarding-tax/

 

• Tetrarch Residential, a development company run by the owners of the Citywest and Mount Juliet hotels, has applied to bring judicial review proceedings against An Bord Pleanala over its refusal of a €50 million apartment development in south county Dublin. https://www.thetimes.co.uk/article/tetrarch-seeks-judicial-review-of-blackrock-apartment-plan-9j2stb9cm?t=ie

  
  
  

• Saturday, 4 November – Student Housing: Collaborative Workshop: Join us for a hybrid workshop tackling the student housing crisis, exploring solutions with practitioners and fostering collaborations https://www.eventbrite.ie/e/student-housing-collaborative-workshop-tickets-742882119417?aff=oddtdtcreator

 

• CIF predicts record post-crash housing output next year as costs ‘stabilise’: Organisation’s director of housing says residential construction will pick up significantly next year if planning decisions speed up https://www.irishtimes.com/business/2023/10/23/cif-predicts-record-post-crash-housing-output-next-year-as-costs-stabilise/

 

• Engineers Ireland calls for more modular homes to be built: Current target of 1,500 units is not ambitious enough to alleviate housing shortages, the body will state https://www.irishtimes.com/ireland/housing-planning/2023/10/25/engineers-ireland-calls-for-more-modular-homes-to-be-built/

 

• Legislation to boost Land Development Agency capital is easy – but where exactly will the money come from? Source of €500 million ‘backstop’ loan to help build more houses far from certain https://www.irishtimes.com/ireland/housing-planning/2023/10/26/legislation-to-boost-land-development-agency-capital-is-easy-but-where-exactly-will-the-money-come-from/

 

• Funding secured for new accommodation for thousands of students across Ireland: The first ever dedicated student accommodation funding deal between European Investment Bank and Housing Finance Agency. https://www.anglocelt.ie/2023/10/26/funding-secured-for-new-accommodation-for-thousands-of-students-across-ireland/

 

• HSE to spend €325m on two elective hospitals in Cork and Galway –  part of the contract will use Modern Methods of Construction to “benefit from the efficiencies associated with standardised buildings ”https://www.irishexaminer.com/news/arid-41254045.html

 

• CSO figures show just over a thousand new homes have been built in Galway city and county so far this year https://galwaybayfm.ie/galway-bay-fm-news-desk/a-thousand-new-homes-built-in-galway-since-january/

 

• Homing in on a ‘Guaranteed Irish House’ https://www.engineersireland.ie/Engineers-Journal/News/homing-in-on-a-guaranteed-irish-house

 

• ’Option to buy’ agreement not a sale contract, property developer tells court: Tom Doran told the court he gave the money to Michael and Maire Rooney in 2007 to show them he was committed to buying the land https://www.irishtimes.com/business/2023/10/24/option-to-buy-agreement-not-a-sale-contract-property-developer-tells-court/

 

• Siro surges ahead with revenues and connections on the rise: Broadband provider anticipates it will have passed 550,000 premises by the end of 2023 with an estimated 190,000 households connected to its network https://www.businesspost.ie/tech/siro-surges-ahead-with-revenues-and-connections-on-the-rise/

 

• Hines seeks €5m for south Dublin sites with scope for 80 homes: Two holdings in Cherrywood strategic development zone each have potential for delivery of 40 duplexes https://www.irishtimes.com/property/commercial-property/2023/10/25/hines-seeks-5m-for-south-dublin-sites-with-scope-for-80-homes/

 

• 70 homes to be built in Ballincollig as part of new affordable housing scheme; Applications open in two weeks time https://www.corkbeo.ie/news/local-news/70-homes-built-ballincollig-part-28001060

 

• ‘Major step forward’ as Limerick’s Opera Square gets first concrete pour https://www.ireland-live.ie/news/limerick-live/1332909/major-step-forward-as-limerick-s-opera-square-gets-first-concrete-pour.html

 

• Croom Concrete moving into green energy space: Planned renewable energy hub in Shannon estuary will increase demand for Co Limerick firm’s products, such as submarine cable anchors and belts https://www.businesspost.ie/making-it-work/croom-concrete-moving-into-green-energy-space/

 

• John Cradock Limited, located in Kilcullen, has been awarded the contract for Woodbrook DART Station which will be located between the existing Shankill and Bray stations. The estimated construction value of the project is €5m https://www.ireland-live.ie/news/kildare-now/1333312/kildare-firm-chosen-to-build-new-dart-station.html

 

• Plans lodged for new €16m secondary school in Kildare https://www.ireland-live.ie/news/kildare-live/1332637/breaking-plans-lodged-for-new-16m-secondary-school-in-kildare.html

 

• Plans for a major development at a pub in Offaly including a caravan park and glamping pods have been given the green light. https://www.ireland-live.ie/news/offaly-live/1334858/large-scale-development-at-offaly-pub-given-the-green-light.html

 

• Significant housing boost for Mayo town https://www.con-telegraph.ie/2023/10/23/significant-housing-boost-for-mayo-town/

 

• Works begin on old Mayo mill that has lay dormant for decades https://www.con-telegraph.ie/2023/10/24/works-begin-on-old-mayo-mill-that-has-lay-dormant-for-decades/

 

• Roscommon-based company has won an award at the inaugural Irish Steel Awards https://roscommonherald.ie/2023/10/22/county-roscommon-based-company-wins-inaugural-irish-steel-award/

 

• Plans for 32 new living units in Letterkenny: The proposed development would see the construction of eight units, each containing four living units https://www.ireland-live.ie/news/donegal-live/1334463/plans-for-32-new-living-units-in-letterkenny.html

 

• Why CPD Employer of the Year 2023 award is a key cornerstone for Farrans as it delivers world-class projects across UK and Ireland https://www.engineersireland.ie/Engineers-Journal/Civil/why-cpd-employer-of-the-year-2023-award-is-a-key-cornerstone-for-farrans-as-it-delivers-world-class-projects-across-uk-and-ireland

 

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

 

• Tom Maguire: Finance Bill must get quick cash into as many start-up companies as possible: The whole area of investment for firms and entrepreneurs must be improvedto assist fragile homegrown activity https://www.businesspost.ie/article/tom-maguire-finance-bill-must-get-quick-cash-into-as-many-start-up-companies-as-possible/

 

• Irish PropTech company RentDodo behind TenantCert, a new digital verification system that aims to help mitigate fake profiles and increase security https://irishtechnews.ie/irish-proptech-company-rentdodo-behind-tenantcert-a-new-digital-verification-system-that-aims-to-help-mitigate-fake-profiles-and-increase-security/

 

• Ctrl Alt raises €2.5m with Enterprise Ireland support https://www.siliconrepublic.com/start-ups/ctrl-alt-enterprise-ireland-alternative-asset

 

• Green property tech is emerging https://www.ejinsight.com/eji/article/id/3593877/20231024-Green-property-tech-is-emerging

 

• Security in the Property Industry: Challenges and How to Avoid Attacks https://www.tripwire.com/state-of-security/security-property-industry-challenges-and-how-avoid-attacks

 

• Proptech Startup OnSiteIQ Closes $14M Series B Round: Construction site visualization and progress tracking company broadening its scope https://commercialobserver.com/2023/10/proptech-onsiteiq-series-b/

 

• Innovative PropTech to be Showcased at Nasscom and CBRE’s ‘DISRUPTECH 2.0.’ Top 10 exceptional startup finalists to showcase their disruptive innovations Augmented/Virtual Reality domain remains the most sought-after innovation platform https://smestreet.in/technology/innovative-proptech-to-be-showcased-at-nasscom-and-cbres-disruptech-20-1570992

 

• The future of proptech in Canada: Embracing data-centric solutions for real estate success https://realestatemagazine.ca/the-future-of-proptech-in-canada-embracing-data-centric-solutions-for-real-estate-success/

 

ENERGY, CLIMATE & ENVIRONMENT  

• Taoiseach, Leo Varadkar, Advocates for Climate Change Adaptation in Wake of Flooding https://www.msn.com/en-ie/money/other/ireland-s-taoiseach-leo-varadkar-advocates-for-climate-change-adaptation-in-wake-of-flooding/ar-AA1iRL5P

 

• How a planning blockage is threatening Ireland’s wind farm industry: ABP has not approved a single wind farm project submitted to the body within the last 12 months https://www.thejournal.ie/irelands-wind-farm-industry-planning-problems-6208696-Oct2023/

 

• Increase VAT on demolition to cut carbon, CIOB tells Ireland https://www.globalconstructionreview.com/increase-vat-on-demolition-to-cut-carbon-ciob-tells-ireland/

 

• The EU plan to increase the energy rating of all buildings could cost up to €1 trillion: The plan is trying to bring most of the buildings in Europe up to an A energy rating by 2050. https://www.thejournal.ie/eu-plan-retrofit-all-old-buildings-cost-e1-trillion-6207381-Oct2023/

 

• European Investment Bank makes €500m available for retrofitting: Bank to also provide €200m in funding over the next 40 years for the development of student accommodation across the country https://www.irishexaminer.com/business/economy/arid-41256388.html

 

• Energy trio plan €500m hydrogen storage facility at Kinsale gas field: Tony O’Reilly jr firm has formed a consortium with ESB and Bord Gáis Energy to develop mammoth project at decommissioned gas site https://www.businesspost.ie/article/energy-trio-plan-e500m-hydrogen-storage-facility-at-kinsale-gas-field/

 

• Eco-building for eco-living, an essential step to face climate change https://www.nature.com/articles/s44168-023-00065-2

 

• Retrofitting your home? Get a green mortgage for lower monthly payments: Green mortgages will save you money, so they’re well worth looking into if you’re retrofitting your home to cut your energy costs https://www.irishexaminer.com/property/developmentconstruction/arid-41253664.html

 

• Home retrofit: low-cost loans will help but homeowners left to deal with inflated prices: Homeowners could save thousands when a new scheme launches next year, but retrofit pricing may be a bigger issue https://www.irishtimes.com/property/2023/10/29/home-retrofit-low-cost-loans-will-help-but-homeowners-left-to-deal-with-inflated-prices/

 

• Green energy firm pivots swiftly to pursue EV charging opportunity: Young renewables start-up plans to provide electric car charging stations in rural locations near wind and solar farms https://www.businesspost.ie/making-it-work/green-energy-firm-pivots-swiftly-to-pursue-ev-charging-opportunity/

 

• Can concrete dust help to fight climate change? This Irish startup is trying it out on US farmland https://www.euronews.com/green/2023/10/27/can-concrete-dust-help-to-fight-climate-change-irish-startup-is-trying-it-out-in-us

 

RESIDENTIAL PROPERTY NEWS (including PRS)

• Irish House Prices Hit Slowest Rate in Three Years on High Rates https://www.bloomberg.com/news/articles/2023-10-24/irish-house-prices-hit-slowest-rate-in-three-years-on-high-rates#xj4y7vzkg

 

• The Irish housing market is bucking global trends despite declining house prices in Dublin https://www.thetimes.co.uk/article/the-expert-view-on-irelands-house-prices-as-dublin-market-slips-b65vfkn9s?t=ie

 

• Why Dublin is attracting British downsizers (and expat first-time buyers): Properties are regularly selling for over their asking price in the Irish capital, but they’re still better value than in London https://www.thetimes.co.uk/article/why-dublin-is-attracting-british-downsizers-and-expat-first-time-buyers-cfgdkxzng

 

• First-time buyers fuelling continued house price growth as typical home now costs €320,000 https://m.independent.ie/business/personal-finance/first-time-buyers-fuelling-continued-house-price-growth-as-typical-home-now-costs-320000/a1436725473.html

 

• Mortgage market dominated by first-time buyers, but rate rises may soon change that: New purchasers at highest level since peak of the boom in mid-2000s https://m.independent.ie/irish-news/mortgage-market-dominated-by-first-time-buyers-but-rate-rises-may-soon-change-that/a1713245339.html

 

• Ten mortgage myths debunked – the reality of getting home loan approval: A flutter on the Grand National is not going to derail your mortgage application and having existing debt isn’t a deal-breaker either https://www.businesspost.ie/article/ten-mortgage-myths-debunked-the-reality-of-getting-home-loan-approval/

 

• House prices in Dublin now falling by almost 2% – Latest official figures point to a further slowdown in the State’s property market on the back of rising borrowing costs https://www.irishtimes.com/business/2023/10/24/house-prices-in-dublin-now-falling-by-almost-2/

 

• Falling outside rules on rent-a-room scheme can prove costly: Q&A: Standalone properties must meet very specific rules to qualify for valuable tax relief on rent of up to €14,000 https://www.irishtimes.com/your-money/2023/10/22/falling-outside-rules-on-rent-a-room-scheme-can-prove-costly/

 

• Number of homes available under HAP scheme hits new low https://www.rte.ie/news/2023/1025/1412881-hap-levels-drop/ Also: Locked Out report finds no properties within the HAP thresholds in Cork city; TDs call for action:Study shows that in September, there were 44 properties to rent on average in Cork city and its suburbs with no properties available within the HAP thresholds https://www.echolive.ie/corknews/arid-41256493.html

 

• CSO figures reveal the median price for a house in Louth in the last year https://www.ireland-live.ie/news/louth-live/1332966/cso-figures-reveal-the-median-price-for-a-house-in-louth-in-the-last-year.html

 

• First-time buyers: How to get to know an area before deciding to buy: Even if your house purchase is a long way off, you can do your homework on where to buy within your budget while you save https://www.irishtimes.com/property/residential/2023/10/25/first-time-buyers-how-to-get-to-know-an-area-before-you-buy-your-home-there/

 

• Common mistakes to avoid when selling your home https://www.southernstar.ie/property/seller-beware-common-mistakes-to-avoid-when-selling-your-home-4275720

 

• Architect Hugh Wallace shares secrets to the ideal living space: Eve Kelliher talks to the ‘Home of the Year’ star (with a little input from his RTÉ co-presenters Amanda Bone and Sara Cosgrove)  https://www.irishexaminer.com/property/homeandgardens/arid-41253367.html

 

• New series of The Great House Revival is looking for restoration projects to feature https://www.leitrimobserver.ie/news/national-news/1333881/new-series-of-the-great-house-revival-is-looking-for-restoration-projects-to-feature.html

 

• 12 self-catering apartments in the heart of Dublin’s central business district for €4.5m: Molesworth Court Suites occupies prime location within a short walk of Trinity College, Grafton Street and St Stephen’s Green https://www.irishtimes.com/property/commercial-property/2023/10/25/12-self-catering-apartments-in-the-heart-of-dublins-central-business-district-for-45m/

 

• Ireland’s most expensive apartment: Dublin 4 penthouse sold for €7 million: Irish businessperson pays €2,026 per sq ft to secure ownership of penthouse at Lansdowne Place scheme https://www.irishtimes.com/property/residential/2023/10/26/dublin-4-penthouse-secures-7m-setting-new-record-for-most-expensive-apartment-sold-in-ireland/

 

• John Magnier outbid by rival Maurice Regan for stately home in Tipperary: Coolmore Stud magnate chases vendors of Barne Estate in Tipperary to High Court after losing out to €18 million bid from tycoon https://www.businesspost.ie/article/john-magnier-outbid-by-rival-maurice-regan-for-stately-home-in-tipperary/

 

• Galway cottage and former Donegal garda station among live stream auction lots: Properties in Mayo, Clare, Dublin, Meath, Limerick, Cork and Westmeath also on offer https://www.businesspost.ie/article/galway-cottage-and-former-donegal-garda-station-among-live-stream-auction-lots/

 

• Enniscorthy presbytery goes under the hammer https://wexfordlocal.com/2023/10/25/enniscorthy-presbytery-goes-under-the-hammer/

 

• Is this 1-bed flat the most expensive in Ireland? It could be yours… for €540k! https://www.dundalkdemocrat.ie/news/national-news/1331078/gallery-is-this-1-bed-flat-the-most-expensive-in-ireland-it-could-be-yours-for-540k.html

 

• The Salvage Squad: Cobh homeowners’ sustainable budget makeover: TV series The Salvage Squad pairs interiors pros with homeowners. We talk to designer Cathy Angelini and the Cobh family she worked with https://www.irishexaminer.com/property/homeandgardens/arid-41256097.html

 

 

 

 

COMMERCIAL PROPERTY NEWS

• Office Take-Up Slows as Tenants Trade Quantity for Quality- https://www.irishrealestate.news/office-take-up-slows-as-tenants-trade-quantity-for-quality/

 

• Value of commercial property shows annual decline of 13pc after fifth consecutive quarterly tumble https://m.independent.ie/business/commercial-property/value-of-commercial-property-shows-annual-decline-of-13pc-after-fifth-consecutive-quarterly-tumble/a1111949713.html

 

• Financial service sector overtakes tech in flexible office space demand: Financial services firms represent 57 per cent of flexible office space deals, while tech sector take-up is down to 30 per cent https://www.businesspost.ie/news/financial-service-sector-overtakes-tech-in-flexible-office-space-demand/

 

• Climate change and hybrid-working model will shape the office of the future: Up to 40% of Dublin’s modern office buildings facing could be rendered obsolete in the next number of years, Cushman & Wakefield report finds https://www.irishtimes.com/property/commercial-property/2023/10/25/irish-office-market-is-undergoing-a-fundamental-adjustment-but-reports-of-its-death-are-exaggerated/

 

• Elmpark campus in Dublin 4 for sale at heavily discounted guide of €55m: Higher interest rates and ESG requirements see Dublin 4 scheme’s capital value fall to below replacement cost level of €170 per square foot https://www.irishtimes.com/property/commercial-property/2023/10/25/starwood-seeks-buyer-for-elmpark-campus-at-heavily-discounted-guide-of-55m/?

 

• Grafton Street investment for €2.5m offers prime city centre opportunity: The ground and basement levels of number 55 come for sale fully let on new 10-year lease https://www.irishtimes.com/property/commercial-property/2023/10/25/grafton-street-investment-for-25m-offers-buyer-city-centre-opportunity/

 

• Hugo Boss falls foul of Dublin City Council; the Irish and the Barclay brothers; Keith Wood’s cafe https://www.irishtimes.com/business/2023/10/27/you-can-rent-denis-obriens-superyacht-for-a-price/

 

• Meta opens its new headquarters in Dublin https://www.rte.ie/news/business/2023/1026/1413095-metas-new-dublin-office/

 

• Three-storey redbrick period property in D4 with potential aplenty: No 80 Northumberland Road is currently in use as offices but could be converted into a home https://www.businesspost.ie/property/three-storey-redbrick-period-property-in-d4-with-potential-aplenty/

 

• Profits at Milano pizza chain increase to €11.89m https://www.breakingnews.ie/ireland/profits-at-milano-pizza-chain-increase-to-e11-89m-1544684.html

 

• Netgear opens new €4.75m international HQ in Cork: The company said it is going through an ‘evolutionary change’ and aims to turn its Cork site into a software development centre of excellence https://www.siliconrepublic.com/business/netgear-cork-international-headquarters

 

• Calling time for popular Greenwich café with leasehold now up for grabs: The building that houses the café is also being sold https://www.irishexaminer.com/property/commercial/arid-41256088.html

 

• Licence vs. Lease: High Court hears dispute over guest house change of use to refugee accommodation https://www.breakingnews.ie/ireland/high-court-hears-dispute-over-guest-house-change-of-use-to-refugee-accommodation-1544834.html

 

• Galway office market surges ahead of capital as rents rise: Although much smaller than Dublin, the City of the Tribes has shown stronger growth with vacancy rates half that of the capital https://www.businesspost.ie/property/galway-office-market-surges-ahead-of-capital-as-rents-rise/

 

• Former Garda station in the Midlands with great potential now on the market https://www.ireland-live.ie/news/offaly-live/1330694/property-former-garda-station-in-the-midlands-with-great-potential-now-on-the-market.html

 

• Award-winning Kildare pub with potential for hotel guiding at €1.1m: Hanged Man’s pub and restaurant comes with planning permission for 20-bedroom hotel on 2.5-acre site https://www.irishtimes.com/property/commercial-property/2023/10/25/award-winning-kildare-pub-with-potential-for-hotel-guiding-at-11m/

 

• Kildare Village seeks removal of ‘out-dated’ planning conditions limiting sale to discounted goods only: Planning consultants say that selling 10% of items at non-discounted prices would be taken up by around 50% to 60% of retailers within Kildare Village https://www.irishexaminer.com/business/companies/arid-41254774.html

 

• Clare Has Fewer Commercial Units With An ‘A’ BER Than Any Other County https://www.clare.fm/news/clare-fewer-commercial-units-ber-county/

 

• Landmark Clare pub comes up for sale for first time in 150 years: The multi-award winning Patrick Power pub in Clarecastle has been in the same family since 1872 https://www.businesspost.ie/property/landmark-clare-pub-comes-up-for-sale-for-first-time-in-150-years/

 

• Paul McDonnell takes up senior advisory role at CBRE: Former head of property finance at Bank of Ireland joins CBRE as it seeks to expand suite of offerings to clients https://www.irishtimes.com/property/commercial-property/2023/10/25/paul-mcdonnell-takes-up-senior-advisory-role-at-cbre/

 

• Business movers: People starting new jobs in Ireland: New appointees with Pepper Advantage, Advertising Standards Authority for Ireland, CBRE, University of Limerick and Grafter https://www.irishexaminer.com/business/companies/arid-41256376.html

 

INTERNATIONAL PROPERTY NEWS

 

• London estate agent Chestertons sold to European property group https://www.ireland-live.ie/news/city/1330089/london-estate-agent-chestertons-sold-to-european-property-group.html

 

• Standard Chartered said today its pre-tax profit dropped 33% in the third quarter of the year, far beyond analyst estimates, after taking a nearly $1 billion hit from exposure to China’s banking and troubled real estate sectors. https://www.rte.ie/news/business/2023/1026/1413045-standard-chartered-results/

 

• White House opens $45 billion in federal funds to developers to covert offices to homes https://www.morningstar.com/news/marketwatch/20231027198/white-house-opens-45-billion-in-federal-funds-to-developers-to-covert-offices-to-homes

 

 

 

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/