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:
- Talks on road investment see National Development Plan go down to the wire: The €165bn plan, to be published on Monday (tomorrow), will include more than 50 projects with a price tag of more than €100m https://www.irishtimes.com/news/politics/talks-on-road-investment-see-national-development-plan-go-down-to-the-wire-1.4689040
- Forecasts for economic growth sharply upgraded: Domestic economy is expected to grow by 5.25% https://www.irishtimes.com/business/economy/forecasts-for-economic-growth-sharply-upgraded-1.4687769
- The same failed ideas will not help solve the growing housing crisis https://m.independent.ie/regionals/wexford/news/the-same-failed-ideas-will-not-help-solve-the-growing-housing-crisis-40893783.html
- Housing strategy a plan for ‘squeezed middle’, says Minister: Ó Broin claims Government’s proposals not ambitious, honest, or committed to delivery https://www.irishtimes.com/news/politics/oireachtas/housing-strategy-a-plan-for-squeezed-middle-says-minister-1.4686110
- Nama warns ‘soaring construction costs’ undermining viability of building new homes: Nama is also set to tell the Public Accounts Committee that it cannot stop cuckoo funds buying properties as it is legally required to accept the highest bid https://www.irishexaminer.com/news/politics/arid-40709645.html
- Also: NAMA is paying €250m to the exchequer today with the same amount to be paid over in December as the agency edges towards its final winding up. The two final payments in 2021 plus earlier payments and corporate tax payments will mean a total of €3.4bn will have been paid by the end of this year. Additional transfers totalling €1.25bn will be made in coming years https://m.independent.ie/business/nama-to-pay-500m-to-the-state-by-year-end-40903606.html
- Help-to-buy scheme set to be extended in upcoming budget, says Varadkar: ‘Help-to-buy is there, and it’s going to remain in place for a little bit longer,’ says Tánaiste https://www.irishtimes.com/business/economy/help-to-buy-scheme-set-to-be-extended-in-upcoming-budget-says-varadkar-1.4685163
- Tensions mount as government parties split over road projects in €165bn NDP https://www.businesspost.ie/infrastructure/tensions-mount-as-government-parties-split-over-road-projects-in-eur165bn-ndp-099a3954
- Homeless charity faces uncertain future following death of co-founder: Among homeless organisations ICHH chief Anthony Flynn was a controversial figure https://www.irishtimes.com/news/ireland/irish-news/homeless-charity-faces-uncertain-future-following-death-of-co-founder-1.4688838
- Estate agents accused of ‘slap in the face’ to renters with ads for investment properties that are not subject to rent cap limits https://m.independent.ie/business/personal-finance/property-mortgages/estate-agents-accused-of-slap-in-the-face-to-renters-with-ads-for-investment-properties-that-are-not-subject-to-rent-cap-limits-40908920.html
- Couple turning shipping containers into three-bed turn-key homes for less than 75k: With property prices and rents soaring an entrepreneurial couple hope to carve out a niche in the market by re-purposing 40-foot shipping containers into modern homes https://m.independent.ie/regionals/louth/news/affordable-housing-re-imagined-couple-turning-shipping-containers-into-three-bed-turn-key-homes-for-less-than-75k-40905106.html (pictured below)
- BAI partially upholds complaint over Drivetime Galway Harbour segment: Authority says there is an expectation that news discussions will not be one-sided https://www.irishtimes.com/business/media-and-marketing/bai-partially-upholds-complaint-over-drivetime-galway-harbour-segment-1.4686640
- Irish Water pleads guilty to contaminating the habitat of endangered mussel species of in a conservation area https://m.independent.ie/news/environment/irish-water-pleads-guilty-to-contaminating-the-habitat-of-endangered-mussel-species-of-in-a-conservation-area-40893536.html
- Five-metre-tall sculpture inspired by Dublin Castle Scandal unveiled outside City Hall. Lord Mayor Alisan Gilliland said that she welcomes it as an “inspiring symbol of hope”. https://www.thejournal.ie/rgb-sconce-hold-your-nose-new-sculpture-dublin-city-centre-5559906-Sep2021/
- The best designed cinemas in Ireland – old and new https://www.irishtimes.com/life-and-style/homes-and-property/the-best-designed-cinemas-in-ireland-old-and-new-1.4685885?mode=amp
If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/
As always, you might let me know if I have missed out on any relevant property news by emailing carol@propertydistrict.ie.
(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)
SUNDAY LISTEN
Property Matters: Ireland’s first weekly property radio show and podcast, which launched in January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com), returned earlier this month for a fourth season. The team delivers 60 minutes of industry chat weekly with guests from the areas of planning, construction, property and proptech.
Property Matters, S.4Ep.3: 28th September 2021: Property price hikes & digital construction update
This week on #PropertyMatters iPropertyRadio.com, hosts Bryan Fox and Carol Tallon are joined by REA spokesperson Barry McDonald and PJ Rudden, Chair of the Construction Sector Group for Innovation & Digital Adoption to discuss Ireland’s house prices and initiatives to transform the construction sector.
- Part 1 – REA House Price Report: https://youtu.be/mRL57TAdrxs
- Part 2 – Digital Construction & Innovation: https://youtu.be/OCl68HyAsMM
*Listen back to this and all shows at: https://ipropertyradio.com
*Listen back to all shows at: https://ipropertyradio.com/property-matters/
Email the Property Matters team at info@propertydistrict.ie
PLACEMAKING
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Naas Road could provide housing for 85,000, forum hears: Replacement of showrooms and warehouses in ‘City Edge’ to stop ‘Los Angelino Dublin’ https://www.irishtimes.com/news/ireland/irish-news/naas-road-could-provide-housing-for-85-000-forum-hears-1.4687006 – Public consultation on the City Edge Emerging Concept Plan until 6th of October – make a submission at www.cityedge.ie (non-statutory) https://dublinpeople.com/news/dublin/articles/2021/09/27/councils-to-host-public-city-edge-international-conference/
- Centuries-old trend of heading to cities for work may be fading https://m.independent.ie/opinion/comment/centuries-old-trend-of-heading-to-cities-for-work-may-be-fading-40891377.html
- House prices growing twice as fast outside cities in Covid exodus https://m.independent.ie/irish-news/news/house-prices-growing-twice-as-fast-outside-cities-in-covid-exodus-40891379.html
- Ireland’s newest train station officially opens in Dublin https://www.joe.ie/amp/news/irelands-newest-train-station-officially-opens-dublin-731992
- Dublin MetroLink was ‘never likely’ to be in place by 2027 as delay confirmed: Announced in 2018, the €9 billion six-line MetroLink system was estimated to be in place for travellers by 2025 https://www.dublinlive.ie/news/dublin-metrolink-never-likely-place-21684440
- Moore Street alternative plan to go on public display: The plan is being presented on Thursday 10th October by the Moore Street Preservation Trust and the 1916 Relatives Alliance https://www.dublinlive.ie/news/dublin-news/moore-street-alternative-plan-display-21705095
- ‘You don’t have to go far for anything’: Locals share what they love about living in Swords: We spoke to residents and business owners about what makes the town stand out. https://www.thejournal.ie/ravens-mill-5559069-Sep2021/
- Permission granted for Howth apartment scheme despite local objections: Residents say village is being overdeveloped and scheme not in line with area’s character https://www.irishtimes.com/business/construction/permission-granted-for-howth-apartment-scheme-despite-local-objections-1.4686923
- Dublin pubs: Charlie Chawke to ‘appease’ objectors with revised apartment plan for Goat Bar – Locals were outraged by the previous €186 million 299-unit scheme https://www.dublinlive.ie/news/dublin-pubs-charlie-chawke-appease-21696462
- Community in County Cork rallies to protect local historical site https://www.echolive.ie/corklives/arid-40707227.html
- Pressure on Government to deliver key Cork road projects: Calls for €105m Cobh to Cork road upgrade and the €40m relief roads of Killeagh and Castlemartyr in addition to motorway project https://www.irishexaminer.com/news/munster/arid-40711139.html
- Engineer casts doubt on Galway ring road https://www.thetimes.co.uk/article/engineer-casts-doubt-on-galway-ring-road-qpz5hvlnm
- West’s awake like never before as buyers scramble for coastal properties. As a result of lockdown and remote working, coastal homes along the Atlantic seaboard are being snapped up as soon as they go on sale https://www.businesspost.ie/commercial/wests-awake-like-never-before-as-buyers-scramble-for-coastal-properties-8d7e7baf
- 300 new jobs could be brought to Gaeltacht village with the implementation of a new action plan. The plan for An Cheathrú Rua as a place to live, work and visit was revealed earlier today by Comharchumann Mhic Dara in association with Údarás na Gaeltachta. https://galwaybayfm.ie/galway-bay-fm-news-desk/hopes-new-action-plan-could-create-hundreds-of-jobs-in-galway-gaeltacht-village/
- Limerick residents launch High Court Challenge to have planning permission overturned https://www.live95fm.ie/news/live95-news/limerick-residents-launch-high-court-challenge-to-have-planning-permission-overturned/
- Meeting hears of opposition to plan for 204 homes between M7 and Ballymany Road in Newbridge https://www.kildarenow.com/news/home/669853/meeting-hears-of-opposition-to-plan-for-204-homes-between-m7-and-ballymany-road-in-newbridge.html
- Shannon: A hidden jewel on the Estuary Way https://www.limerickleader.ie/news/home/669627/shannon-a-hidden-jewel-on-the-estuary-way.html But: Shannon Town: the ‘planned’ town that got left behind “IN 1982, IT WAS OFFICIALLY DEEMED TO BE IRELAND’S NEWEST TOWN. FOUR DECADES AND SEVERAL MASTERPLANS LATER, SHANNON TOWN IS HAVING AN IDENTITY CRISIS” https://www.irishtimes.com/life-and-style/shannon-town-the-planned-town-that-got-left-behind-1.4686534?mode=amp
- New Laois scheme ‘great news’ for ‘thriving’ Borris-in-Ossory: Village main street to benefit from Laois council’s Business Incentive Scheme https://www.leinsterexpress.ie/news/business/669900/new-scheme-great-news-for-thriving-borris-in-ossory.html
- Irelands tallest mural, reaching a whopping 135ft from top to bottom | STREET ART UTOPIA https://streetartutopia.com/2021/09/27/irelands-tallest-mural-reaching-a-whopping-135ft-from-top-to-bottom
(pictured above)
- Eco-apartment scheme in Titanic Quarter is game-changer for Belfast: Huge public interest has accompanied the consultation on the highly desirable development on a landmark site https://www.businesspost.ie/commercial/eco-apartment-scheme-in-titanic-quarter-is-game-changer-for-belfast-6a54caac
*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details*
CONSTRUCTION & DEVELOPMENT NEWS
*Calling all Irish construction SMEs, please sign up with the Government-appointed CSG Innovation & Digital Adoption body, which will be resourcing firms to identify and overcome challenges to critical digitization. Link here: http://eepurl.com/hDFYfL
- Minister McGrath’s keynote address to the Construction Industry Federation Annual Conference 2021 https://www.gov.ie/en/press-release/a7a5f-minister-mcgraths-keynote-address-at-the-construction-industry-federation-annual-conference-2021-check-against-delivery/
- O’Brien defends housing strategy after experts brand elements ‘unrealistic’: Housing experts criticised the focus on supply issues rather than affordability. https://www.thejournal.ie/darragh-obrien-defends-housing-plan-criticism-5559412-Sep2021/
- Department overestimated fast-track housing success: Of the 24,264 homes approved under the Strategic Housing Development system by the end of 2019, developers have only started to build 6,765 units, which means plans for 17,499 homes are lying idle https://www.businesspost.ie/houses/department-overestimated-fast-track-housing-success-9300efbd
- Government approves ‘comprehensive’ review into Ireland’s planning laws: The Taoiseach said the legislation needs ‘a complete overhaul’ to deliver on the targets set out in the Housing For All strategy. https://www.thejournal.ie/government-review-ireland-planning-laws-5560468-Sep2021/?amp=1
- ‘No justification’ for building workers to remain on PUP, says industry chief https://m.independent.ie/irish-news/no-justification-for-building-workers-to-remain-on-pup-says-industry-chief-40899044.html
- CIF: “There’s no point announcing a €4 billion housing strategy and the €160 billion national development plan unless you sort out the planning, procurement and basic utilities like water and waste water.” https://www.irishtimes.com/business/construction/government-must-fix-issues-holding-back-construction-says-industry-chief-1.4685204
- O’Flynn: high-rise apartments not the answer to housing crisis: Cork-based developer tells CIF conference that compact housing is a better, more affordable option in cities https://www.businesspost.ie/houses/oflynn-high-rise-apartments-not-the-answer-to-housing-crisis-a2c64014
- Bord na Móna plans renewable energy business park for midlands: Energy park planned for site near Rochfortbridge, Co Westmeath https://www.irishtimes.com/business/energy-and-resources/bord-na-m%C3%B3na-plans-renewable-energy-business-park-for-midlands-1.4684168
- Green light for new Kildare Kilsaran sand and gravel pit: Planning permission granted https://www.kildarenow.com/news/local-news/671808/green-light-for-new-kildare-kilsaran-sand-and-gravel-pit.html
- Call for moratorium on new data centres until benefits are fully examined https://www.irishexaminer.com/news/arid-40708709.html
- Data centres could be the solution to the energy crisis, not the problem https://www.breakingnews.ie/ireland/data-centres-could-be-the-solution-to-the-energy-crisis-not-the-problem-1192800.html
- Government to class data centres as ‘strategic infrastructure’ despite energy crisis https://www.businesspost.ie/energy/government-to-class-data-centres-as-strategic-infrastructure-despite-energy-crisis-93f1f4b5
- A dispute between Irish Water and the developer has left buyers in a Newcastle development unable to move into their new homes https://www.dublinlive.ie/news/dublin-news/family-homeless-school-housing-crisis-21728851
- Rezoning of south Dublin lands questioned by regulator: Lack of transport and schools puts areas in west Dublin under ‘development pressure’ https://www.irishtimes.com/news/ireland/irish-news/rezoning-of-south-dublin-lands-questioned-by-regulator-1.4684229
- West Dublin cigarette factory site with plans for 500 apartments up for sale: The old Gallaher cigarette factory, located at the junction of Greenhills and Airton Road in Tallaght, is up for sale for €16.5 million https://www.dublinlive.ie/news/dublin-news/west-dublin-cigarette-factory-site-21738305
- Johnny Ronan ramps up scale of Appian Way development: Planning application is for 44 build to rent apartments at junction of Leeson Street https://www.irishtimes.com/business/commercial-property/johnny-ronan-ramps-up-scale-of-appian-way-development-1.4685754
- An Bord Pleanála gives go-ahead for new Temple Bar hotel: Board dismisses own inspector’s recommendation to refuse planning permission https://www.irishtimes.com/business/work/an-bord-plean%C3%A1la-gives-go-ahead-for-new-temple-bar-hotel-1.4686062
- Site with hotel potential for €15m in Dublin’s Liberties: Molyneux Yard has planning permission for a 244-bed hotel with cafe, restaurant and bar https://www.irishtimes.com/business/commercial-property/site-with-hotel-potential-for-15m-in-dublin-s-liberties-1.4684092
- A development opportunity with planning permission for 114 beds for students near the DCU campuses in Drumcondra, Dublin 9, is being offered for sale with a €3,850,000 guide price. https://m.independent.ie/business/commercial-property/drumcondra-property-ready-for-114-unit-student-accommodation-40902279.html
- €7.5m guide on west Dublin site with residential potential https://m.independent.ie/business/commercial-property/75m-guide-on-west-dublin-site-with-residential-potential-40902281.html
- Tallaght locals in for a treat as The Square to get brand new cinema: Irish cinema chain Movies@ will open its newest outlet in time for Christmas https://www.dublinlive.ie/whats-on/film-news/tallaght-locals-treat-square-brand-21680400
- Equine centre developer challenges refusal to extend permission: Covid-19 construction lockdown blamed for delay in ‘three-quarter complete’ €7m Kilternan centre https://www.irishtimes.com/business/commercial-property/equine-centre-developer-challenges-refusal-to-extend-permission-1.4684877
- New plans mooted for housing development at Bessborough https://www.echolive.ie/corknews/arid-40707971.html
- All eyes on three prime property sites on the market in Cork: Three quality sites in Cork signal exciting times ahead for property development, says a leading industry expert https://www.irishexaminer.com/sponsored/arid-40709954.html
- Work starts on €30m project to rebuild landmark Cork city hotel https://www.irishexaminer.com/news/arid-40711475.html
- Planners turn down proposal for Eircom infrastructure at site in Athenry https://galwaybayfm.ie/galway-bay-fm-news-desk/planners-turn-down-proposal-for-eircom-infrastructure-at-site-in-athenry/
- BREAKING: New Kilkenny hotel and short-let apartments get planning approval: The demolition of an existing wholesale warehouse has also been green-lighted https://www.kilkennypeople.ie/news/kilkenny-news/669940/breaking-new-kilkenny-hotel-and-short-let-apartments-get-planning-approval.html
- Substantial new housing development to be built in Kilkenny: 77 residential units have been granted planning permission https://www.kilkennypeople.ie/news/property/670021/substantial-new-housing-development-to-be-built-in-kilkenny.html
- Sion Road buildings in Kilkenny to be demolished to make way for 43 new houses: Planning permission granted by Kilkenny County Council https://www.kilkennypeople.ie/news/property/669975/sion-road-buildings-in-kilkenny-to-be-demolished-to-make-way-for-43-new-houses.html
- Modulacc has announced the creation of 25 new jobs after opening a second manufacturing site for its energy-efficient modular buildings https://www.irishexaminer.com/business/companies/arid-40709843.html
- New lender says SME developers can plug gap in housing delivery: The founder of Ardcairn Capital plans to fund 10,000 homes in Ireland over the next five years https://www.businesspost.ie/houses/new-lender-says-sme-developers-can-plug-gap-in-housing-delivery-2f4e27d6
- Northern Irish leader in off-site construction becomes Building Company of the Year https://www.fmb.org.uk/resource/northern-irish-leader-in-off-site-construction-becomes-building-company-of-the-year.html
- Priory Hall developer McFeely in Belfast property row: Former IRA hunger striker allegedly broke planning rules https://m.independent.ie/irish-news/priory-hall-developer-mcfeely-in-belfast-property-row-40909311.html
- Former employee sent letters to boss of construction firm alleging drug use on building sites:Gary O’Donovan, 42, of 65 Willow Park, Clonmel, Co Tipperary, appeared at Cork Circuit Criminal Court on a plea of guilty to a charge of harassment of the builder https://www.irishexaminer.com/news/courtandcrime/arid-40709591.html
- Award-winning County Tyrone carpenter left office for building site https://www.bbc.com/news/uk-northern-ireland-58752273
- Irish ‘freeman’ walks sheep across Southwark Bridge: Danny Tim O’Sullivan, from Gleesk in Kells, Co Kerry, worked his way up through the construction industry, eventually founding the Danny Sullivan Group now led by his son, Timothy https://www.irishtimes.com/news/ireland/irish-news/irish-freeman-walks-sheep-across-southwark-bridge-1.4684321 (pictured above)
- JJ Rhatigan & Company Appoints New CEO: “Following a period of substantial growth over the past five years that has seen JJ Rhatigan & Company deliver in excess 3,500 private and social homes, 12,000 school places, 9 new third-level campus facilities, 2,000 student accommodation bedrooms, close to 1,300 hotel bedrooms, 16 healthcare facilities, and over 40,000m2 of office and commercial space, the building contractor is expanding its senior team to deliver on an ambitious pipeline of future projects…” https://www.irishrealestate.news/jj-rhatigan-company-appoints-new-ceo/ (pictured below)
PROPTECH, MMC & CONSTRUCTION INNOVATION
- Proptech Ireland is updating the database of 2021 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech or MMC business sit? Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *PROPTECH INNOVATORS and STARTUPS *
- Irish tech is going through somewhat of a golden age at the moment: Start-ups benefiting from Ireland’s rising tech success https://www.rte.ie/news/business/2021/1001/1250190-entrepreneur-investor-tech/
- Nearly 5 years ago Proptech Ireland predicted that the successor to property portals will not be portals at all, but rather personalized data streams enabled by this technology. It’s happening… ‘Predictive transactions are the next big tech revolution’ https://venturebeat.com/2021/09/26/predictive-transactions-are-the-next-big-tech-revolution/
- Techstars to hold blockchain-focused accelerator in Dublin: Organisation teams up with Alphabit and Launchpool for three-month programme https://www.irishtimes.com/business/technology/techstars-to-hold-blockchain-focused-accelerator-in-dublin-1.4684207
- Report: Investors put more capital into proptech companies http://connectedremag.com/smart-buildings/proptech/report-investors-put-more-capital-in-to-proptech-companies/
- Video interview – is a single PropTech solution the way forward for agents? https://www.estateagenttoday.co.uk/features/2021/9/video-interview–is-a-single-proptech-solution-the-way-forward-for-agents
- Foxtons explains Data PropTech behind matching clients with properties https://www.estateagenttoday.co.uk/breaking-news/2021/9/foxtons-explains-data-proptech-behind-matching-clients-with-properties
- Property Industry Urged to Embrace Proptech to Enhance Customer Service – PropertyWire https://www.propertywire.com/news/property-industry-urged-to-embrace-proptech-to-enhance-customer-service/
- Virtual Tours should become GDPR-compliant says PropTech firm https://www.lettingagenttoday.co.uk/breaking-news/2021/9/virtual-tours-should-become-gdpr-compliant-says-proptech-firm
- Cadillac Fairview ‘eager’ to adopt proptech as it launches app https://placetech.net/news/cadillac-fairview-eager-to-adopt-proptech-as-it-launches-app/
- The Role of Proptech in the fight against Viral Infections in the Workplace https://www.einnews.com/pr_news/552670904/the-role-of-proptech-in-the-fight-against-viral-infections-in-the-workplace
- EBBA Architects builds Construction Skills School using only reusable components https://www.dezeen.com/2021/10/03/construction-skills-school-ebba-architects/
- Built Technologies, a construction company based in Tennessee state, has lately increased its valuation to 1.5 billion dollars. All credits to growth equity firm TCV’s allocation of 125 million dollars in funding. https://leedaily.com/2021/10/01/built-technologies-crowned-unicorn-after-the-raising-125-million/
- Modular homes builder Ilke raises £60m https://www.thetimes.co.uk/article/modular-homes-builder-ilke-raises-60m-bwr57gwmc
(pictured above)
- Saqara secures $10.6m in Series A funding to support its international expansion – Business Leader News https://www.businessleader.co.uk/saqara-secures-10-6m-in-series-a-funding-to-support-its-international-expansion/
- PRODA, a specialist in rent roll data processing and analysis which featured on our PropTech 50 ranking recently, has been backed by ING Ventures ahead of a Series A raise next year https://businesscloud.co.uk/blog/2021/09/24/proptech-proda-backed-by-ing-ventures/
- Proptech Enkasa launches in U.S. with $3M in seed funding – AIM Group https://aimgroup.com/2021/10/01/proptech-enkasa-launches-in-u-s-with-3m-in-seed-funding/
- Proptech startup Ukio nabs $9M seed investment | PitchBook https://pitchbook.com/newsletter/proptech-startup-ukio-nabs-9m-seed-investment
- Generation Start-up: This PropTech company is simplifying real estate buying https://www.thenationalnews.com/business/start-ups/2021/09/26/generation-start-up-this-proptech-company-is-simplifying-real-estate-buying/
RESIDENTIAL PROPERTY NEWS (including PRS)
- Should you buy a home now — or wait for a fall? House prices have risen 9pc in the past year and are rising twice as fast outside cities. Evergrande, the world’s biggest real estate firm, is in crisis. The threat of rising interest rates and inflation fears are also intensifying. So should you buy? https://m.independent.ie/business/personal-finance/property-mortgages/in-depth-should-you-buy-a-home-now-or-wait-for-a-fall-40911403.html
- A surge in house prices – but where is the money coming from? Higher mortgage lending, build-up of savings and ‘bank of mam and dad’ are key factors https://www.irishtimes.com/business/economy/a-surge-in-house-prices-but-where-is-the-money-coming-from-1.4685068
- Property hot spots: The towns with the biggest price rises in Ireland: A Tipperary town has seen prices jump by 23% in a year. In central Dublin prices have fallen https://www.irishtimes.com/life-and-style/homes-and-property/property-hot-spots-the-towns-with-the-biggest-price-rises-in-ireland-1.4682768?mode=amp
- More than 100,000 new and previously exempt properties, most of which were built after May 2013, will be brought into the tax bracket and become liable for Local Property Tax (LPT) on 1 November. https://amp.rte.ie/amp/1249328/
- Darragh O’Brien says ‘nothing is off the table’ on mica redress scheme: The Housing Minister will meet mica-affected homeowners later this week. https://www.thejournal.ie/darragh-obrien-mica-5559559-Sep2021/
- No property tax increase for most homeowners – Revenue https://amp.rte.ie/amp/1249880/
- Homeowners warned not to undervalue homes when making property tax returns: Revenue has power and tools to double-check value of homes https://m.independent.ie/business/personal-finance/tax/homeowners-warned-not-to-undervalue-homes-when-making-property-tax-returns-40902671.html
- Tenants of a high-end build-to-rent development in Dublin are relying on slurry tankers to take away their sewage after the homes were built without a connection to a sewer mains. Wastewater from the toilets and sinks of the 106 houses is piped to a holding tank on-site. A tractor and slurry tanker come several times a week to bring it across the city to a wastewater treatment plant. https://m.independent.ie/news/environment/new-city-homes-need-slurry-tanker-to-take-away-waste-40891381.html
- Housing needs of people with disabilities ‘overlooked’ https://amp.rte.ie/amp/1249599/
- Cope Galway’s Modh Eile Takes Homeless Housing Category at Community Housing Awards https://galwaybayfm.ie/galway-bay-fm-news-desk/cope-galways-modh-eile-takes-homeless-housing-category-at-community-housing-awards/
- Irish home-reversion scheme exempt from 10% bulk-buyers duty: Scheme allows home owner sell share in their home in exchange for a lump sum – but at much lower figure current market value https://www.irishtimes.com/business/financial-services/irish-home-reversion-scheme-exempt-from-10-bulk-buyers-duty-1.4686699
- Property Focus: One in five Ballincollig homes are going 20% above asking: Auctioneers cite the lack of new development in the town as being a key issue https://www.irishexaminer.com/property/residential/arid-40707368.html
- At 85 weeks, Cork city has longest turnaround for reletting properties https://www.irishexaminer.com/news/arid-40710161.html
- Influx of remote workers to Nenagh pushes up house prices https://m.independent.ie/irish-news/influx-of-remote-workers-to-nenagh-pushes-up-house-prices-40891373.html
- Vacant garda stations should be redeveloped into accommodation to address the housing crisis https://www.thetimes.co.uk/article/use-empty-garda-stations-as-housing-0j9r8drxf
- Tenancies Board vows to go after landlords after rent rises exceed legal caps https://m.independent.ie/business/personal-finance/tenancies-board-vows-to-go-after-landlords-after-rent-rises-exceed-legal-caps-40903494.html
- Finance Minister Paschal Donohoe shot down an attempt by Housing Minister Darragh O’Brien to introduce tax breaks designed to free up the supply of homes, the Sunday Independent can reveal. https://m.independent.ie/irish-news/news/donohoe-torpedoes-obriens-tax-relief-for-downsizers-plan-40911711.html
- Unlocking value in homes needs care: Equity release outfits Home Plus and Spry insist there is a market for their controversial products. https://www.thetimes.co.uk/article/unlocking-value-in-homes-needs-care-hsxjqtqxh
- Priory Hall 10 years on – ‘We were worried about being homeless and a mortgage for a home we couldn’t live in’ https://m.independent.ie/opinion/analysis/in-depth-priory-hall-10-years-on-we-were-worried-about-being-homeless-and-a-mortgage-for-a-home-we-couldnt-live-in-40905212.html
- Letting agents in Kilkenny have stopped advertising properties as they will be “swamped” by calls. Instead, they are finding tenants by calling local firms, or they deal privately with people who call to their offices in search of a tenancy https://www.irishtimes.com/news/ireland/irish-news/estate-agent-finds-it-pays-whether-you-advertise-or-not-in-current-housing-market-1.4687726
- Ireland’s largest fixed-fee auctioneer launches in Galway https://www.advertiser.ie/galway/article/124764/irelands-largest-fixed-fee-auctioneer-launches-in-galway
- Take a tour and read the story behind the Cork private estate loved by the stars: Ballinacurra Estate is a slice of seclusion and privacy that has hosted many a star over the years including Michael Jackson https://www.corkbeo.ie/news/property/take-tour-read-story-behind-21582583
- This stunning 400 year old castle in county Cork is the perfect fixer-upper: The historic structure is a behemoth, and could make an incredible homestead for a large family or developed apartments, despite standing vacant for a number of years https://www.rsvplive.ie/life/gallery/ireland-property-stunning-400-year-25109860.amp
- Do we need planning permission for a granny flat? Property Clinic: I’ve been consulting architects and contractors but getting conflicting answers https://www.irishtimes.com/life-and-style/homes-and-property/do-we-need-planning-permission-for-a-granny-flat-1.4680863?mode=amp
- Sean FitzPatrick refused permission for infill house in Greystones: House would have been built in back garden of another planned home https://www.irishtimes.com/business/commercial-property/sean-fitzpatrick-refused-permission-for-infill-house-in-greystones-1.4688109
- My tenants had a moth infestation. Who’s responsible for the damage? You would have great difficulty proving the tenants were responsible for the moths https://www.irishtimes.com/life-and-style/homes-and-property/my-tenants-had-a-moth-infestation-who-s-responsible-for-the-damage-1.4680792?mode=amp
- Red Cliff House, which boasts panoramic views out over Inch Beach and towards the Macgillycuddy Reeks, has been listed with Mansion Global at a price of €1.65m. https://m.independent.ie/irish-news/news/kerry-holiday-home-where-bishop-eamon-casey-stayed-with-annie-murphy-up-for-sale-at-165m-40897709.html (pictured above)
- Bartragh Island in Co Mayo sells for more than €1.1 million: The new owner is believed to be planning to restore a derelict Georgian house on the island as well as creating an environmentally sustainable farming enterprise https://www.businesspost.ie/commercial/bartragh-island-in-co-mayo-sells-for-more-than-eur11-million-85fcafe9
- From Normal People to Love, Rosie, the Irish properties sharing the limelight: The film and TV industry has long been attracted to Ireland as a location, with striking architecture as big a draw as the beautiful landscape https://www.thetimes.co.uk/article/homes-under-the-camera-normal-people-love-rosie-irish-properties-tv-explained-sffgmhvmn
COMMERCIAL PROPERTY NEWS
- Frasers Group, the retail company headed by Mike Ashley, is in talks to take over the former Debenhams store at Blanchardstown shopping centre in Dublin. https://www.thetimes.co.uk/article/frasers-poised-for-dublin-opening-vwpvf2slp
- Liffey Valley shopping centre unveils ‘new and improved Western Plaza’: The outdoor area is located outside Vue Cinema and has been spruced up with beautiful new flowers and greenery https://www.dublinlive.ie/whats-on/whats-on-news/liffey-valley-shopping-centre-unveils-21678633
- Fitzwilliam Square property offers keys to the private garden for €3.75m: Building is laid out as flexible workspace but also offers potential as private residence https://www.irishtimes.com/business/commercial-property/fitzwilliam-square-property-offers-keys-to-the-private-garden-for-3-75m-1.4682849
- Stillorgan branch of KBC Bank on the market for €5m: Belgian bank is planning its exit from Ireland but building has rent certainty until 2027 https://www.irishtimes.com/business/commercial-property/stillorgan-branch-of-kbc-bank-on-the-market-for-5m-1.4685660
- It has been criticised for using loopholes such as the “double Irish” to avoid paying tax in Ireland. Now it has emerged that Google is unhappy about the commercial rates it pays at one of its Dublin offices. https://www.thetimes.co.uk/article/google-searches-for-cut-on-dublin-rates-5nsbrd2td
- Eagle Street Partners acquires two Clonskeagh office blocks: The real estate firm, founded in December 2020 by two former senior figures at Glenveagh, has committed €150 million in invested capital since its inception https://www.businesspost.ie/commercial/eagle-street-partners-acquires-two-clonskeagh-office-blocks-cd24806a
- Last orders – why the housing crisis is driving another nail in the coffin of the traditional Irish pub https://m.independent.ie/life/home-garden/homes/last-orders-why-the-housing-crisis-is-driving-another-nail-in-the-coffin-of-the-traditional-irish-pub-40905285.html
- Press Up buys Larry Murphy’s pub for about €1.7 million: Final sale price for landmark Dublin hostelry not disclosed https://www.irishtimes.com/business/commercial-property/press-up-buys-larry-murphy-s-pub-for-about-1-7-million-1.4685712
- Potential Restaurant Property In Union Hall, Co. Cork, Hits The Market https://www.hospitalityireland.com/amp/restaurant/potential-restaurant-property-in-union-hall-co-cork-hits-the-market-147801
- Nordic Aviation Capital mulls options for landmark Limerick HQ https://m.independent.ie/business/irish/nordic-aviation-capital-mulls-options-for-landmark-limerick-hq-40894752.html
- Pepper Ireland said it will restart offering new commercial loans in the Irish market in a response to more favourable market conditions and new emerging opportunities in the market. https://amp.rte.ie/amp/1249444/
- BREAKING: Ikea looks set to open an outlet in Naas https://www.kildarenow.com/news/home/671714/breaking-ikea-looks-set-to-open-an-outlet-in-naas.html
- Donegal Boardwalk Resort sells for more than €3.8m: Holiday village with 27 villas, a bar, restaurant and function room, has been bought by Melcorpo https://www.irishtimes.com/business/commercial-property/donegal-boardwalk-resort-sells-for-more-than-3-8m-1.4688662
- A video of the planned new look Bayview Hotel in Courtown shows a stunning five-storey hotel boasting sea front views. https://m.independent.ie/regionals/wexford/news/luxury-seaside-hotel-with-5-star-appeal-planned-for-north-wexford-town-40908511.html
- Up to €1bn in deals done over decades by one of Munster’s largest independent property agencies Cohalan Downing: Cohalan Downing cross Cork’s South Mall from deal-making No 88 after 42 years to rebuilt modern offices at No 14 https://www.irishexaminer.com/property/commercial/arid-40709273.html
- Mayo portfolio of units achieves top price at BidX1 auction – The online sale witnessed a number of industrial and mixed-use properties change hands for well in excess of their guide prices https://www.businesspost.ie/commercial/mayo-portfolio-of-units-achieves-top-price-at-bidx1-auction-a93a98df
INTERNATIONAL PROPERTY NEWS
- Estate agent that lets people sell homes for free eyes UK-wide expansion https://propertyindustryeye.com/estate-agent-that-lets-people-sell-homes-for-free-eyes-uk-wide-expansion/
- Explainer: Berlin has voted to forcibly buy homes from property giants, what happens next? The referendum supports the expropriation of homes from property companies to the city. https://www.thejournal.ie/berlin-rental-property-5558921-Sep2021/
- UK house prices forecast to rise by up to 3.5% a year between 2022 and 2024: Summer 2021 marked peak growth but race for space will continue, says estate agent Hamptons https://amp.theguardian.com/money/2021/sep/27/uk-house-prices-forecast-to-rise-by-up-to-35-a-year-between-2022-and-2024
- Record-low 0.99% mortgage rate for UK landlords https://www.thetimes.co.uk/article/record-low-0-99-mortgage-rate-for-landlords-tpxbxp7ws
- UK Retailers struggle to pay rent as they prioritise keeping their businesses open https://www.thetimes.co.uk/article/retailers-struggle-to-pay-rent-as-they-prioritise-keeping-their-businesses-open-vvw5h850k
- UK Property firms Alpha and Green Park investigated by Serious Fraud Office https://www.thetimes.co.uk/article/property-firms-alpha-and-green-park-investigated-by-serious-fraud-office-lx8m2dn9q
- Is Going to the Office a Broken Way of Working? A conversation with Chris Herd, who foresees a future in which most companies are remote-first. https://www.newyorker.com/culture/office-space/is-going-to-the-office-a-broken-way-of-working
FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS
Crowd-sourcing answers topical property questions:
Irish Property Buyers Handbook annualsAs 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/