Weekly Irish property market news and insights – for the industry, by the industry  

 

    Before we get stuck into the general property news of the week, below are the local and international stories that might be of particular interest:

• Property District West: All PR and communications (ghostwriting, social media management, public consultation and community engagement for placemaking) available through Irish from our Galway base in An Cheathrú Rua. Email brid@propertydistrict.ie for further information.

• Homelessness: Record high 10,568 people in emergency accommodation last month – In total, there were 7,431 adults accessing emergency accommodation in the last week of July.  https://www.thejournal.ie/record-homelessness-emergency-accommodation-5850318-Aug2022/

• The Irish Times view on demographic change: time to rethink the national plan: Faster-than-expected population and employment growth has big implications for planners and policy-makers  https://www.irishtimes.com/opinion/editorials/2022/08/26/the-irish-times-view-on-demographic-change-time-to-rethink-the-national-plan/

• Another half-point ECB rate hike likely, say Irish-based economists: Aggressive rate-setting expected for rest of the year due to mounting inflationary pressure  https://www.irishtimes.com/business/economy/2022/08/25/another-half-point-ecb-rate-hike-likely-say-irish-economists/

• Túath Housing launches 118 new cost-rental homes in Clondalkin as housing minister says rental crisis is ‘acute’: The rents are set at €1,264 for two-bed apartments and €1,297 for the two-bed duplexes. https://www.thejournal.ie/new-cost-rental-homes-clondalkin-darragh-obrien-5847291-Aug2022/

• Target of delivering 4,100 affordable homes by end of year will be challenging, says Darragh O’Brien – ‘This is a year of delivery’: Minister confident target of 24,600 homes of all kinds will be reached this year https://www.irishtimes.com/politics/2022/08/23/target-of-delivering-4100-affordable-homes-by-end-of-year-will-be-challenging-says-darragh-obrien/

• ‘Housing For All’ a failure as record 10,568 people are homeless  https://m.independent.ie/opinion/editorial/housing-for-all-a-failure-as-record-10568-people-are-homeless-41940547.html

• State raises leased housing budget by €450m due to influx of Ukrainian refugees – Government launched extra fund for 1,000 new-build social housing despite Taoiseach’s commitment to move away from leasing model  https://www.businesspost.ie/news/state-raises-leased-housing-budget-by-e450m-due-to-influx-of-ukrainian-refugees/

• An Bord Pleanála has totally lost the confidence of builders, developers, politicians and most important of all the public they are supposed to serve. There is real concern that ineptitude far from being confined to a couple of people is systemic. The question is not whether there is a problem. It is how big is the problem and whether it is curable. ..” https://www.con-telegraph.ie/2022/08/22/planning-system-facing-an-appaling-vista-west-td/

• Robert Troy resigns as minister of State after property interests controversy – Fianna Fáil TD assures the public ‘once again that I have not tried to conceal anything’  https://www.irishtimes.com/politics/2022/08/24/robert-troy-resigns-as-minister-of-state-after-property-interests-controversy/ Also: Explained: What is the controversy over Robert Troy and his properties? https://www.breakingnews.ie/amp/ireland/explainer-robert-troy-1354380.html

• SINN FÉÍN HAS said it is “not acceptable” that one its TDs who owns a rental property had allowed the registration with the Residential Tenancies Board (RTB) lapse. https://www.thejournal.ie/johnny-guirke-sinn-fein-rtb-5850644-Aug2022/

• Almost 80 TDs and Senators are landlords, landowners or both: Register of Members’ Interests for Dáil and Seanad indicates substantial portfolios  https://www.irishtimes.com/politics/2022/08/24/almost-80-tds-and-senators-are-landlords-property-owners-or-both/

• Landlord politicians may have to declare housing contracts amid overhaul of ethics regime  https://www.irishtimes.com/politics/2022/08/26/politicians-may-be-asked-to-declare-more-information-on-register-of-members-interests/

• David McWilliams: China is experiencing a giant property crash. Ireland could be next: As the Robert Troy saga reveals, the nexus of politicians, banks, developers and the land lobby is still firmly in place, over a decade after the crash  https://www.irishtimes.com/opinion/2022/08/27/david-mcwilliams-china-is-experiencing-a-giant-property-crash-ireland-could-be-next/

• O’Brien under fire for failing to act on social housing eligibility report: Report has sat on housing minister’s desk for almost a year despite review being complete  https://www.irishexaminer.com/news/politics/arid-40945358.html

• Sinn Féin’s housing policy is a step backwards: Michael McDowell: It would be a return to 1946 Rent Restrictions Acts which slowly expropriated landlords  https://www.irishtimes.com/opinion/2022/08/24/sinn-feins-housing-policy-a-step-backwards/

• Why is Ireland so unattractive to foreign banks? Why are big lenders like NatWest and KBC so keen to leave a booming economy?  https://www.irishtimes.com/business/economy/2022/08/21/how-the-legal-system-made-irish-banks-uncompetitive/

• Atlantic TU To Launch Property Services Courses Created With SCSI  https://businessplus.ie/news/atlantic-tu-property/

• Estate agent who sought €2,000 deposit from clients to get on waiting list for new development apologises and ‘withdraws offer’  https://m.independent.ie/irish-news/news/estate-agent-who-sought-2000-deposit-from-clients-to-get-on-waiting-list-for-new-development-apologises-and-withdraws-offer-41931404.html

• Metaverse set to trigger paradigm shift in digital world: Increasingly immersive online models are set to transform the way we interact with work, retail and other areas, says futurist Bernard Marr  https://www.irishtimes.com/business/innovation/2022/08/25/metaverse-set-to-trigger-paradigm-shift-in-digital-world/ Also: Meta officially rolls out its new metaverse ID system  https://techcrunch.com/2022/08/23/meta-officially-rolls-out-its-new-metaverse-id-system/

• How to Buy Real Estate in the Metaverse  https://www.entrepreneur.com/article/432480

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 our shows, email the iPropertyRadio team at info@propertydistrict.ie

On #BreakingGround on iPropertyRadio.com this week, I chat to  Rob Fox, CEO of Site Passport. Site Passport is a technology platform that provides main contractors with the right data and the right processes to ensure they select Subcontractors that are the best fit for the wide and complex requirements of each of their projects.

Watch back: https://youtu.be/YcUUtIs02zc

Listen back: https://ipropertyradio.com/breaking-ground/

Produced by Hear Me Roar Media

Listen back to all shows at https://ipropertyradio.com

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Céard é Comhfhorbairt Áite? “Teastaíonn dea-áitíocht saineolaithe ildisciplíneacha freagraí a chur ar fáil, ach tugann áitíocht maith guth don phobal chun na ceisteanna cearta a chur ar bun.” 👉https://placeengage.com/ceard-e-comhfhorbairt-aite/

• Ireland’s future cities: Rethinking urban life for a record population: Irish Cities 2070 says demographic change and the expansion of Dublin require a radical response  https://www.irishtimes.com/ireland/2022/08/27/does-irelands-surging-population-leave-governments-housing-targets-in-need-of-a-radical-revision/

• Government needs to take ‘more humane approach’ to housing Ukrainian refugees: Around 2,500 Ukrainians who have been living in student accommodation will have to leave by the end of August.  https://www.thejournal.ie/government-needs-to-take-more-humane-approach-to-housing-ukrainian-refugees-5845866-Aug2022/?amp=1

• An Bord Pleanala spent more than €4.2m on “other side” legal fees last year  https://m.independent.ie/irish-news/an-bord-pleanala-spent-more-than-42m-on-other-side-legal-fees-last-year-41942174.html

• ‘Carrot and stick’ scheme could release 17,000 vacant homes to market: Hardware Association estimates 34,000 of Ireland’s 167,000 homes could be renovated at ‘reasonable price’  https://www.irishtimes.com/business/2022/08/22/carrot-and-stick-scheme-could-release-17000-vacant-homes-to-market/

• Cost-rental homes: ‘This makes us really, really happy. We feel secure’: Security of tenure and more affordable prices allow families to look to their future with greater confidence  https://www.irishtimes.com/ireland/housing-planning/2022/08/22/cost-rental-homes-this-makes-us-really-really-happy-we-feel-secure/

• Only a third of Traveller housing budget spent: Of €18m allocated for Traveller housing in 2022, just €6.2m has been drawn down, Department of Housing says  https://www.irishtimes.com/ireland/housing-planning/2022/08/22/only-a-third-of-traveller-housing-budget-spent/

• Calls to buy landmark property overlooking the Forty Foot for public use  https://m.independent.ie/regionals/dublin/dublin-news/calls-to-buy-landmark-property-overlooking-the-forty-foot-for-public-use-41932043.html

• New market on Dublin’s Moore Street to open next month: Late-night weekend market will be ‘ethnically diverse’ and ‘grocery-centred’  https://www.irishtimes.com/ireland/dublin/2022/08/27/new-market-on-dublins-moore-street-to-open-next-month/

• The Tenters residents watch outdoor screening of documentary marking 100 years of their unique housing scheme: The film was created by the conservation section of Dublin City Council  https://www.irishtimes.com/ireland/2022/08/27/the-tenters-residents-watch-outdoor-screening-of-documentary-marking-100-years-of-their-unique-housing-scheme/

• Work gets underway to breathe new life into landmark Cork site: Former mental asylum to be transformed into a social and affordable housing hub https://m.independent.ie/regionals/corkman/news/work-gets-underway-to-breathe-new-life-into-landmark-cork-site-41940265.html

• Cork Cycling Campaign calls for investment in project management as millions in cycleway funding left unspent: Cork city was allocated €46,291,010 for new cycling infrastructure in 2022 but just €4,863,113 had been used by May https://www.corkbeo.ie/news/local-news/cork-cycling-campaign-calls-investment-24861939

• Quay wall collapses again at Cork’s South Gate Bridge – Calls for a full audit of Cork’s historic city quay walls were made earlier this year.  https://www.irishexaminer.com/news/munster/arid-40949054.html

• Massive cash injection into the development of a Very Light Rail system in Coventry has reinvigorated the Gluas campaign for a sustainable solution to Galway’s traffic congestion  https://connachttribune.ie/gluas-campaign-is-back-on-track/

• Local TD says cycleway connecting Athenry to Oranmore would be a perfect “Pathfinder” project  https://connachttribune.ie/local-td-says-cycleway-connecting-athenry-to-oranmore-would-be-a-perfect-pathfinder-project/amp/

• Two families win competition to live rent free on Inis Meáin. Rónán Mac an tSaoir and his wife started their Irish language journey by talking to their dog as Gaeilge ‘just to practise’  https://www.irishtimes.com/ireland/2022/08/23/two-families-from-meath-and-limerick-to-live-rent-free-on-inis-meain-for-9-months/

• All Aboard! Foynes ready to get back on track as plans to redevelop railway line pick up steam  https://www.limerickleader.ie/news/home/889644/all-aboard-foynes-ready-to-get-back-on-track-as-plans-to-redevelop-railway-line-pick-up-steam.html

• How one Irish town plans to tackle the housing crisis: Spend It Better: Imaginative developments can also put sustainable life back into the hearts of Ireland’s towns  https://www.irishtimes.com/life-style/2022/08/22/how-one-irish-town-plans-to-tackle-the-housing-crisis/

• In pod they trust: Belfast-based glamping group Further Space seeks to expand – Firm has already has a site open in Co Wexford, and plans more there and in Mayo, Cork and Kerry  https://www.businesspost.ie/news/in-pod-they-trust-belfast-based-glamping-group-further-space-seeks-to-expand/

• Former Steorn man McCarthy to build ‘zombie prepper compound’ in Wicklow – The bitcoin trader and failed ‘free energy’ mogul is to develop a €2 million self-sufficient home on rewilded land he has bought in the Wicklow Mountains  https://www.businesspost.ie/news/former-steorn-man-mccarthy-to-build-zombie-prepper-compound-in-wicklow/

• Team of 50 volunteers do their bit to conserve ruins of historic farmstead near Carrick-on-Suir: The Society for Protection of Ancient Buildings hosted their annual summer working party at the properly last weekend  https://www.tipperarylive.ie/news/home/895723/team-of-50-volunteers-do-their-bit-to-conserve-ruins-of-historic-farmstead-near-carrick-on-suir.html

• 100 Buildings: a briquette factory in Derrinlough  https://www.rte.ie/culture/2022/0819/1316709-100-buildings-a-briquette-factory-in-derrinlough/

• The Ballina regeneration project  https://www.newstalk.com/podcasts/highlights-from-moncrieff/the-ballina-regeneration-project

• Breanndán Ó Beaglaíoch’s battle to build a house on his land: Civil servants have no feelings towards what I love: music, art, the Irish language. I come from that era where you were totally attached to place. As an artist, I need to feel that I’m at home https://www.irishexaminer.com/lifestyle/artsandculture/arid-40945352.html

• How to Design a Sidewalk? The Key Role of Street Furniture  https://www.archdaily.com/986866/how-to-design-a-sidewalk-the-key-role-of-street-furniture

CONSTRUCTION & DEVELOPMENT NEWS

• CSO report shows 40,000 increase in construction employment https://irishbuildingmagazine.ie/2022/08/25/cso-report-shows-40000-increase-in-construction-employment/

• Food, electricity and building materials prices jump again in July: CSO data indicates dairy producers charging 53 per cent more than last year  https://www.irishtimes.com/business/2022/08/22/food-electricity-and-building-materials-prices-jumped-again-in-july/

• Why are more workers retiring early and what does this mean for construction?  https://www.constructionnews.co.uk/agenda/why-are-more-workers-retiring-early-and-what-does-this-mean-for-construction-18-08-2022/

• Planning regulator starts statutory review into An Bord Pleanála: Lawyer and two Scottish officials sent into planning appeals body to examine allocation of case files to board members  https://www.irishtimes.com/ireland/housing-planning/2022/08/24/planning-regulator-starts-statutory-review-into-an-bord-pleanala/

• National Children’s Hospital is ‘71pc complete’ but Irish market cost-inflation risks remain, says developer   https://m.independent.ie/business/irish/national-childrens-hospital-is-71pc-complete-but-irish-market-cost-inflation-risks-remain-says-developer-41939628.html

• Planning permission sought for Dublin’s tallest building at former City Arts Centre: The building would stand taller than Belfast’s 85 metre Obel Tower. https://www.thejournal.ie/planning-dublin-tallest-building-office-5847262-Aug2022/

• Developer lodges new plans for controversial Bailey Gibson site in Dublin 8: Application, if successful, would mean height of proposed development more than halved https://www.irishtimes.com/ireland/dublin/2022/08/24/developer-lodges-new-plans-for-bailey-gibson-site-in-dublin-8/

• Walls Construction seeks to demolish HQ and build 176 apartments: Building company aims to develop a €77m nine-storey mixed-use scheme which will include office space  https://www.irishtimes.com/business/2022/08/25/walls-construction-seeks-to-demolish-hq-and-build-176-apartments/

• Developer moves quickly to appeal refusal of scheme on Terenure College land: Lioncor adviser challenges refusal of 364-apartment, seven-storey development on public safety grounds due to traffic issues  https://www.irishtimes.com/business/2022/08/24/developer-moves-quickly-to-appeal-refusal-of-scheme-on-terenure-college-lands/

• An Bord Pleanála grants permission for Finglas build-to-rent scheme: Appeals board approves 314-unit development at Jamestown Road in north Dublin despite local opposition  https://www.irishtimes.com/business/2022/08/24/contentious-finglas-build-to-rent-scheme-is-approved/

• Bovale Developments seeks €34m for lands at Dublin Central Logistics Park: Proposed disposal of 91-acre holding next to M50 motorway follows recent €50m sale of nearby Killamonan Business Park to Iput  https://www.irishtimes.com/property/commercial-property/2022/08/24/bovale-developments-seeks-34m-for-lands-at-dublin-central-logistics-park/

• Locals object to Cork GAA’s €75m housing scheme: The scheme is made up of 85 semi-detached homes; 118 terraced units; 53 duplex units; and 63 apartments.  https://www.irishexaminer.com/news/munster/arid-40948418.html

• Tetrarch Blackrock build-to-rent scheme faces opposition: Project envisages 108 apartments overlooking rugby club  https://www.irishtimes.com/business/2022/08/23/tetrarch-blackrock-build-to-rent-scheme-faces-opposition/

• Owner of Cork SuperValu store lodges appeal with An Bord Pleanála against proposed Tesco outlet – Decision due in December on Tesco’s plan to build a single storey 3,739 sqm retail outlet on Fermoy site  https://m.independent.ie/regionals/corkman/news/owner-of-cork-supervalu-store-lodges-appeal-with-an-bord-pleanala-against-proposed-tesco-outlet-41918117.html

• Approval for major expansion at Loughrea Hotel and Spa  https://connachttribune.ie/approval-for-major-expansion-at-loughrea-hotel-and-spa/

• Planners request further information on plans for apartment block at Ó hUiginn site in Shantalla  https://galwaybayfm.ie/galway-bay-fm-news-desk/planners-request-further-information-on-plans-for-apartment-block-at-o-huiginn-site-in-shantalla/

• Overcrowded University Hospital Limerick to get 96-bed block costing €90m  https://www.breakingnews.ie/amp/ireland/overcrowded-university-hospital-limerick-to-get-96-bed-block-costing-e90m-1353235.html

• Application refused for five-storey student accommodation complex in Waterford  https://www.wlrfm.com/news/application-refused-for-five-storey-student-accommodation-complex-in-waterford-265365 Also: Waterford residents ‘over the moon’ after student accommodation rejected: Locals feared the plans would have seen a green space at the estate’s entrance replaced with 192 car spaces  https://www.irishexaminer.com/news/munster/arid-40945202.html

• Planning refused for 96 homes in Gracedieu  https://www.wlrfm.com/news/gracedieu-housing-refusal-265509

• An Bord Pleanála give green light for Wicklow 179-unit housing scheme  https://www.breakingnews.ie/amp/ireland/an-bord-pleanala-give-green-light-for-wicklow-179-unit-housing-scheme-1353591.html

• MSD Ireland has confirmed the construction of a new facility at its existing site following a successful planning application process with Carlow County Council.  https://irishbuildingmagazine.ie/2022/08/23/msd-confirms-construction-of-state-of-the-art-facility-at-existing-carlow-site/

• TII appeals permission for 10-storey hotel in Cork city suburb: Hibernia Star Ltd first applied to Cork City Council for permission for the hotel and a 10,632 square metre office building over seven storeys in January  https://www.irishexaminer.com/property/planning/arid-40948265.html

• Planners approve apartment block in Limerick  https://www.limerickleader.ie/news/home/894198/planners-approve-apartment-block-in-limerick.html

• Council pursues major developer for quarter of a million euro over undeveloped Kilkenny site  https://www.thejournal.ie/kilkenny-council-glenveagh-5849193-Aug2022/

• Dundalk manufacturing centre eyes future with €8 million boost  https://m.independent.ie/regionals/louth/news/dundalk-manufacturing-centre-eyes-future-with-8-million-boost-41928971.html

• Go ahead given for 18 new apartments in Dundalk town centre: Planning granted for Francis Street development  https://www.dundalkdemocrat.ie/news/home/892688/go-ahead-given-for-18-new-apartments-in-dundalk-town-centre.html

• Ministerial boost for proposed gaming hub at Strandhill campus  https://m.independent.ie/regionals/sligochampion/business/ministerial-boost-for-proposed-gaming-hub-at-strandhill-campus-41932766.html

• Significant housing development in pipeline for Mayo site  https://www.con-telegraph.ie/2022/08/27/significant-housing-development-in-pipeline-for-mayo-site/

• Kerry’s first strategic housing development turned down due to impact on bats:Proposed Killarney development of houses, duplexes, town houses and 152 apartments had backing of council planners but was refused permission by An Bord Pleanála  https://www.irishexaminer.com/news/munster/arid-40947353.html

• Shannon Group Unveils Brand Refresh  https://irishbuildingmagazine.ie/2022/08/22/shannon-group-unveils-brand-refresh/

• Hilti Nuron Platform Brings Cordless To Building Sites  https://businessplus.ie/news/hilti-group-cx-centre-finglas/

• Kingspan announces appointment of new Non-Executive Director  https://www.northernsound.ie/news/kingspan-announces-appointment-of-new-non-executive-director-200530

• CRH and Grafton may reveal building slowdown in US and UK, while Jackson Hole symposium begins: Results from the pair are likely to give some more colour on trends within building and construction industries on both sides of the Atlantic https://www.proactiveinvestors.co.uk/companies/news/990943/crh-and-grafton-may-reveal-building-slowdown-in-us-and-uk-while-jackson-hole-symposium-begins-990943.html

• New £36 million hotel approved for Titanic Quarter  https://www.irelandbeforeyoudie.com/new-36-million-hotel-approved-for-titanic-quarter/

• A Dublin-based real estate investor has been named as a backer on an £8m scheme. https://www.insidermedia.com/news/ireland/dublin-real-estate-firm-backs-8m-scheme

• Galetech buys NI engineering firm for £1m – Green energy firm plans to invest €5 million in renewable components hub in the North, and to provide a one-stop-shop for wind energy operator maintenance  https://www.businesspost.ie/news/galetech-buys-ni-engineering-firm-for-1m/

• CRH dodges danger of inflation due to unique business model – Rising cost of materials hasn’t hurt bottom line for construction giant, which reports a healthy pipeline of infrastructure projects in Europe and US https://www.businesspost.ie/news/crh-dodges-danger-of-inflation-due-to-unique-business-model/

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

• Drone use is on the increase, but so too are the legal requirements  https://www.siliconrepublic.com/machines/drones-regulations-ireland-zenadrone

• Surveillance Technology Can Damage Culture: 5 Ways To Ensure It Doesn’t  https://www.forbes.com/sites/tracybrower/2022/08/21/surveillance-technology-can-damage-culture-5-ways-to-ensure-it-doesnt/

• Zeus hits the ground running in Britain with its first acquisition – E-scooter company founded and led by Damian Young acquires Zwings as it looks to grow across the water  https://www.businesspost.ie/tech/zeus-hits-the-ground-running-in-britain-with-its-first-acquisition/

• So Much For the Ecosystem Approach to PropTech Software  https://www.propmodo.com/so-much-for-the-ecosystem-approach-to-proptech-software/

• Round Hill invests in German proptech startup Erste Hausverwaltung  https://realassets.ipe.com/news/round-hill-invests-in-german-proptech-startup-erste-hausverwaltung/10061735.article

• PropTech deal as deposit service invests in App creator  https://www.lettingagenttoday.co.uk/breaking-news/2022/8/proptech-deal-as-deposit-service-invests-in-app-creator?source=newsticker

• How modular buildings can help tackle the global housing crisis: Modular architecture has a bad reputation for being cookie-cutter and soulless. Architect Eva Talbot is here to dispel the myth  https://www.fastcompany.com/90781382/how-modular-buildings-can-help-tackle-the-global-housing-crisis

• Real-time visualisation is the fastest and easiest way to turn building models into immersive 3D experiences. It brings together design and visualisation workflows, enhancing the design processes of AEC professionals https://www.pbctoday.co.uk/news/digital-construction/bim-news/how-real-time-visualisation-can-benefit-your-design-workflow/114615/

• New £1.2bn framework opens for applications from offsite specialists  https://www.insidehousing.co.uk/news/news/new-12bn-framework-opens-for-applications-from-off-site-specialists-77883

• Tiko seeks to raise up to €45 million in funding round  https://aimgroup.com/2022/08/26/tiko-seeks-to-raise-up-to-e45-million-in-funding-round/

• Newly Launched Investment Bank Focuses on Proptech Sector  https://www.connectcre.com/stories/newly-launched-investment-bank-focuses-on-proptech-sector/

• Meet Justin Lau, CEO at PropTech Company: Property Raptor  https://techround.co.uk/interviews/meet-justin-lau-property-raptor/

• Greek-Founded Proptech Flyway Raises $10M to Make Second Home Ownership More Accessible  https://therecursive.com/greek-proptech-flyway-10-million-second-home-ownership/

• This smart window reads your local weather forecast and cools your home with outdoor air  https://thegadgetflow.com/blog/this-smart-window-reads-your-local-weather-forecast-and-cools-your-home-with-outdoor-air/

• Proptech accelerator Gruhas announces its first cohort of seven startups  https://startupstorymedia.com/insights-gruhas-announces-its-first-cohort-of-seven-startups/

• Q&A with Tzvete Doncheva – talking PropTech, equality and LinkedIn tips https://www.propertyinvestortoday.co.uk/breaking-news/2022/8/q-and-a-with-tzvete-doncheva–talking-proptech-property-equality-and-linkedin-tips?source=newsticker

• Proptech Startup Shuts Down One Year After Raising $100M, Citing Market Conditions  https://www.bisnow.com/national/news/proptech/real-estate-fintech-company-shuts-its-doors-114518

• “Proptech Will Remain Critical for Developers Going Forward,” Says Naveen Mypala of Urban Living – Another vertical, Urban Living Poptech, integrates technologies for real-time tracking, business overview, and automation of most business processes.   https://www.thestatesman.com/inspiration-hub/proptech-will-remain-critical-developers-going-forward-says-naveen-mypala-urban-living-1503103207.html

• Proptech Firm VendorPM Completes a $20M Series A: Company will use money for expansion and new product developments. https://www.globest.com/2022/08/25/proptech-firm-vendorpm-completes-a-20m-series-a/

• US Proptech and Feds Take On Indoor Air Quality at Schools – School districts have yet to use billions in federal funding for new and existing technology to clear the air  https://commercialobserver.com/2022/08/schools-indoor-air-quality-funding-proptech/

CLIMATE & ENVIRONMENT

• The environment is right for an increase in renewable energy jobs – Ireland is uniquely situated to benefit from offshore wind energy, with potential for job creation in areas such as project management, community liaison and engineering  https://www.businesspost.ie/post-plus/yvonne-cronin-the-environment-is-right-for-an-increase-in-renewable-energy-jobs/

• Energy crisis: Minister admits that businesses are now under threat – Ibec warns that tariffs could ‘seriously undermine’ competitiveness, while SMEs call for emergency supports to tackle spiralling energy costs  https://www.businesspost.ie/news/energy-crisis-minister-admits-that-businesses-are-now-under-threat/

• What is a Green Building and Benefits and Goals of a Green Building  https://urbanmatter.com/what-is-a-green-building-and-benefits-goals-of-a-green-building/

• Environmental activists to protest against planned data centre in Co Clare  https://www.irishexaminer.com/news/arid-40944521.html

• IT is now highly likely that An Bord Pleanála will make the final decision on the proposed development of “Ireland’s largest solar farm” in South-East Clare after two residents vowed to appeal any planning approval granted by Clare County Council. https://clarechampion.ie/east-clare-residents-vow-to-fight-solar-farm/

RESIDENTIAL PROPERTY NEWS (including PRS)

• What will happen to the property market this year? Sherry FitzGerald MD Marian Finnegan explains: Despite a wider market malaise, the pricing and supply of second-hand homes look stable https://www.irishtimes.com/property/residential/2022/08/25/what-will-happen-to-the-property-market-this-year-sherry-fitzgerald-md-marian-finnegan-explains/

• Big city rents were supposed to tumble amid the pandemic. What went wrong? Pandemic has changed how we work but it hasn’t made cities any more affordable  https://www.irishtimes.com/business/2022/08/24/getting-it-wrong-about-big-city-rents/

• Explainer: your rights as a tenant that is getting evicted  https://extra.ie/2022/08/27/property/tenant-eviction-rights

• RTB apologises for delays faced by landlords trying to register tenancies  https://www.irishexaminer.com/news/arid-40947500.html

• Could student digs alleviate our cost and accommodation crises? Homeowners can earn €14,000 a year tax-free by renting a room to a student, thus boosting their income while helping alleviate the acute student accommodation crisis  https://www.irishexaminer.com/opinion/commentanalysis/arid-40945949.html

• Employers in plea to homeowners – have you a room to rent to our staff?  https://connachttribune.ie/employers-in-plea-to-homeowners-have-you-a-room-to-rent-to-our-staff-655/

• Vienna-style housing plan is needed – Cork Chamber: Investment fund and subsidy scheme provides loans and land  https://www.irishexaminer.com/business/economy/arid-40946432.html

• Our TDs want to be landlords, so why doesn’t the State? Some 35% of members of the Oireachtas are landlords or landowners, wildly out of step with the country at large  https://www.irishtimes.com/opinion/2022/08/26/our-tds-want-to-be-landlords-so-why-doesnt-the-state/

• Seniors Money acquires €90m lifetime loan book: Some 70% of loans secured against Dublin properties, says company  https://www.irishtimes.com/business/2022/08/23/seniors-money-acquires-90m-lifetime-loan-book/

• Three times more Airbnb rooms than long-term rentals for students  https://extra.ie/2022/08/21/news/irish-news/three-times-more-airbnb-rooms-than-long-term-rentals-for-students

• Case for short-term let controls ‘strengthened’ by arrival of Ukrainian refugees, report says: Plans to introduce new short-term rental regulations have been pushed back to November 3rd from September 1st  https://www.irishtimes.com/ireland/housing-planning/2022/08/24/case-for-rent-controls-strengthened-by-arrival-of-ukrainian-refugees/

• PROPERTY: A House near UCC for only €135,000?  https://www.thecork.ie/2022/08/23/property-a-house-near-ucc-for-only-e135000/

• Irish island hostel with stunning views on the market for a price you won’t believe! It needs work but look at those views!  https://www.offalyexpress.ie/news/property/892828/at-your-service-irish-island-hostel-with-stunning-views-on-the-market-for-a-price-you-won-t-believe.html

• Kildare cost-rental housing lottery opens on Monday: Applications invited for 50 Tuath accommodation options in Newbridge at €1,130 and €1,300 a month  https://www.irishtimes.com/ireland/housing-planning/2022/08/22/kildare-cost-rental-housing-lottery-opens-on-monday/

• Cheap European Homes on RTE are looking for adventurous house hunters – Struggling to afford a home even with mortgage approval? Read on.  https://www.kilkennypeople.ie/news/home/894142/cheap-european-homes-on-rte-are-looking-for-adventurous-house-hunters.html

• O’Donnellan & Joyce launches its September auction  https://www.advertiser.ie/galway/article/131291/odonnellan-joyce-launches-its-september-auction

• Look at how Maggie Molloy transformed her living space: She didn’t spend a lot on her house, but ‘everyone loves it’, says the ‘Cheap Irish Homes’ presenter who is passionate about bringing new life to rural Ireland  https://www.irishexaminer.com/property/homeandgardens/arid-40948595.html

COMMERCIAL PROPERTY NEWS

• GeoDirectory Commercial Buildings Report for Q2 of 2022 shows total stock of commercial properties stood at 210,924 in Q2 2022. A modest decline in the overall commercial building stock was accompanied by an increase in the stock of vacant properties https://www.longfordleader.ie/news/home/894620/reduction-in-longford-s-commercial-property-vacancy.html

• TikTok signs deal for office space for 800 additional workers in Dublin docklands: Social media platform agrees long-term lease with Iput Real Estate for Tropical Fruit Warehouse on Sir John Rogerson’s Quay  https://www.irishtimes.com/business/2022/08/22/tiktok-signs-deal-for-office-space-for-800-additional-workers-in-dublin-docklands/

• Stripe hits pause on hunt for Irish office space  https://www.thetimes.co.uk/article/stripe-hits-pause-on-hunt-for-irish-office-space-q0x0dwddv

• Flexible space: Second coming of WeWork set to make original vision pay off – Following the spectacular fall of WeWork founder Adam Neumann in 2019, the office provider is re-establishing itself as a power in its field, and preparing to capitalise on the current turmoil in the post-pandemic office market. Will its gambits work?  https://www.businesspost.ie/news-focus/flexible-space-second-coming-of-wework-set-to-make-original-vision-pay-off/

• Swiss bank to hold mortgage on BT’s property empire after its sale by Weston family  https://m.independent.ie/business/irish/swiss-bank-to-hold-mortgage-on-bts-property-empire-after-its-sale-by-weston-family-41932848.html

• Screen test: Will there be a happy ending for Ireland’s cinemas? Cineworld’s possible filing for bankruptcy has focused attention on the problems in a sector hit hard by the rise of streaming during the pandemic, but all is far from lost  https://www.businesspost.ie/news-focus/screen-test-will-there-be-a-happy-ending-for-irelands-cinemas/

• Eason’s new store at historic Cork city building to open in September  https://www.echolive.ie/corknews/arid-40945616.html

• Charity begins at… a Cork city  investment property with a 7.5% return for buyers: Irish Cancer Society is noted for its themed window displays at its shop on Cork city’s Castle Street, for sale as an invesment for €575,000  https://www.irishexaminer.com/property/commercial/arid-40946996.html

• Cork pub operators acquire former city centre bookshop: Two Cork bookshops, Uneeda in the city centre and Coughlans of Clonakilty turn the page  https://www.irishexaminer.com/property/commercial/arid-40946960.html

• Mayo business opens new premises in Galway city  https://www.con-telegraph.ie/2022/08/21/mayo-business-opens-new-premises-in-galway-city/

• Apple workers launch petition over firm’s return-to-office stance: Organisers claim greater workplace flexibility would promote diversity and improve productivity  https://www.irishtimes.com/business/work/2022/08/22/apple-workers-launch-petition-over-firms-return-to-office-stance/

• Two Irish Pub Properties Hit The Market  https://www.hospitalityireland.com/amp/pub-bar-nightclub/two-irish-pub-properties-hit-the-market-10-192486

• The rise of nursing home closures: ‘It is too late for us but there is still time to save others’: Smaller, family-run care homes feel the squeeze of rising costs and tougher post-Covid regulations as State funding remains fixed  https://www.irishtimes.com/ireland/2022/08/27/the-rise-of-nursing-home-closures-it-is-too-late-for-us-but-there-is-still-time-to-save-others/

• Former Arva bank branch placed on market: ASKING PRICE €150K sought for property with ‘multiplicity of uses’  https://www.anglocelt.ie/2022/08/23/former-arva-bank-branch-placed-on-market/

• Co-working hub launched in Trim  https://www.meathchronicle.ie/2022/08/26/co-working-hub-launched-in-trim/

• Fantastic Midlands pub that comes with a fine residential area for sale at very inviting price  https://www.longfordleader.ie/news/local-news/893643/property-fantastic-midlands-pub-that-comes-with-a-fine-residential-area-for-sale-at-very-inviting-price.html

• Staffing at Aramark Ireland fell 2,000 during pandemic  https://www.rte.ie/news/business/2022/0826/1318954-staffing-at-aramark-ireland-fell-2-000-during-pandemic/

INTERNATIONAL PROPERTY NEWS

• Bidding wars, cash up-front and ‘auditions’ – inside Britain’s broken renting market: Young professionals seeking private rental property tell of ‘hundreds’ applying for the same let  https://www.theguardian.com/money/2022/aug/28/bidding-wars-cash-up-front-and-auditions-inside-britains-broken-renting-market

• Return of ‘gazundering’ tactics on London house sales indicates property market is cooling: Requesting sellers slash an agreed price just before exchange, without valid cause, might be immoral — but it is not illegal. https://www.standard.co.uk/homesandproperty/property-news/return-of-gazundering-london-house-sales-property-market-b1020421.html

• The UK Register of Overseas Entities – important updates https://kennedyslaw.com/thought-leadership/article/the-register-of-overseas-entities-important-updates/

• Price cap leads to dip in value of tenancy deposits in England and Wales  https://propertyindustryeye.com/price-cap-leads-to-reduction-in-value-of-tenancy-deposits-in-england-and-wales/

• England’s housing strategy would blow entire carbon budget, says study: Target of 300,000 new homes a year not sustainable, finds researchers, with negative biodiversity and climate impacts  https://amp.theguardian.com/environment/2022/aug/23/englands-housing-strategy-would-blow-entire-carbon-budget-says-study

• London has enough empty office space for 45 skyscrapers: The value of office blocks in the capital has tumbled by more than 25% as more employees choose to work from home. The amount of office space available to let in London has jumped by more than 50% since the beginning of the pandemic, underscoring how working from home has drastically changed the commercial property landscape. https://www.thetimes.co.uk/article/london-has-enough-empty-office-space-for-45-skyscrapers-2jbplhj0w

• Matthew Turner advises an architect who resents working to increase the value of residential properties while struggling to live in London  https://www.architectsjournal.co.uk/news/opinion/the-coach-im-working-on-residential-schemes-yet-can-barely-afford-my-rent

• THIS FLOATING STRUCTURE IN ROTTERDAM IS THE WORLD’S LARGEST + MOST SUSTAINABLE OFFICE  https://www.yankodesign.com/2022/08/21/this-floating-structure-in-rotterdam-is-the-worlds-largest-most-sustainable-office/

• Danish architecture studio BIG has unveiled visuals of Masterplan Esbjerg Strand, a proposal for an education-focused campus and innovation hub surrounded by water in Jutland, Denmark  https://www.dezeen.com/2022/08/26/big-masterplan-esbjerg-strand-denmark/

• Qatar detains dozens of workers who protested over late pay as World Cup approaches: The country has faced intense international scrutiny over its labour practices ahead of the tournament.  https://www.thejournal.ie/qatar-workers-5846144-Aug2022/?amp=1

• US: Small businesses feel the pinch from slowing housing market  https://www.washingtonpost.com/business/small-businesses-fell-the-pinch-from-slowing-housing-market/2022/08/27/571fa68c-260f-11ed-a72f-1e7149072fbc_story.html

• Underquoting in Australian real estate industry is leaving buyers feeling betrayed: The only thing that will stop practice of underquoting on price guides is to ‘name and shame’ those caught doing it, says one buyers agent  https://www.theguardian.com/business/2022/aug/27/underquoting-in-australian-real-estate-industry-is-leaving-buyers-feeling-betrayed

 

FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS

Crowd-sourcing answers topical property questions: 

As many of you might know, Carol Tallon’s 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/

Since 2020, the publishers have ensured the content remains topical 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/