PROPERTY ROUND-UP JULY 23RD 2023

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: 

• Ireland has one of lowest rates of home ownership for under 40s, ESRI says – Report reveals generational divide in market with barely third of adults under 40 owning houses https://www.irishtimes.com/business/2023/07/20/ireland-has-one-of-lowest-rates-of-home-ownership-for-under-40s-esri-says/

• Minister for Housing has rejected the assertion that the Government’s shared-equity programme for first-time buyers is inflationary, as the First Home Scheme (FHS) announced it had provided approximately 500 facilities since it launched https://www.breakingnews.ie/ireland/minister-says-no-inflationary-impact-of-first-home-scheme-1504369.html

• How to reform the Irish planning system in three steps: Eight years ago, I led a review which concluded that An Bord Pleanála was working with ‘integrity and professionalism’. Not any more https://www.irishtimes.com/opinion/2023/07/19/gregory-jones-how-to-reform-the-irish-planning-system-in-three-steps/

• People how have had loans approved to revive vacant houses to turn into their homes can’t draw down mortgages because of problems with a Government grant scheme design to help with renovations. https://www.ireland-live.ie/news/laois-live/1253622/laois-mortgages-held-up-over-vacant-house-refurbishment-grants.html

• No right to silence for employee facing questions over alleged corrupt payments, ESB claims https://www.breakingnews.ie/ireland/no-right-to-silence-for-employee-facing-questions-over-alleged-corrupt-payments-esb-claims-1505025.html

• A home in Wexford is being occupied by a cat – despite current housing crisis https://www.southeastradio.ie/a-home-in-wexford-is-being-occupied-by-a-cat-despite-current-housing-crisis/

• Yes, the housing crisis *is* having an effect on our sex lives https://www.image.ie/self/yes-the-housing-crisis-is-having-an-effect-on-our-sex-lives-775849

• ‘It’s a crying sin’ – What to do with derelict properties? https://www.rte.ie/news/2023/0720/1395486-derelict-properties/

• Banks set to report highest ever profits this year: Bank of Ireland and AIB are forecast to report combined operating profits of close to €4.5 billion as mortgage holders have seen sharp rise in monthly repayment costs after interest rates hikes https://www.businesspost.ie/news/big-two-banks-set-to-report-highest-ever-profits-this-year/

• It takes 10 years to build a road in Ireland, 20 for a rail line, 30 for a MetroLink. What are we doing wrong? Why do big infrastructure projects always take so long in Ireland? https://www.irishtimes.com/opinion/2023/07/22/cliff-taylor-why-do-big-infrastructure-projects-always-take-so-long-in-ireland/

• Who’s in the race to replace Owen Keegan as head of Dublin City Council? A number of names are already being touted as possible replacements for Keegan after his imminent retirement https://www.businesspost.ie/news-focus/whos-in-the-race-to-replace-owen-keegan-as-head-of-dublin-city-council/

• Building for Sustainability: 3 Main Themes Explored at the Time Space Existence Exhibition in Venice, including Digital Building Technologies and Material Research https://www.archdaily.com/1002216/building-for-sustainability-3-main-themes-explored-at-the-time-space-existence-exhibition-in-venice 

• Man with West Offaly roots had involvement with many famous buildings https://www.offalyexpress.ie/news/midland-tribune/1251585/man-with-west-offaly-roots-had-involvement-with-many-famous-buildings.html

*Reminder that the Property District offices in Dublin and Galway will close on Wednesdays for July and August as we let our creative talent run wild – you are welcome  to join us for #WildWednesday, details here: https://propertydistrict.ie/wildwednesday-challenging-techies-to-disconnect-and-creatives-to-reconnect/ 

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

We are excited to share the growth of iPropertyRadio! What started as #PropertyMatters, a 60-minute weekly show on Dublin South FM 93.9FM over 4 years ago, has now evolved into a global online station for the best construction, urban planning, property and proptech content. Check out our website, iPropertyRadio.com, brought to you by Hear Me Roar Media for live and recorded access to all the week’s built environment news. 

Do you want to have your industry podcast included or be a guest on our shows? Reach out to us at hello@ipropertyradio.com. Last year, we hit a massive 7.5 million digital impressions across our brands and this figure is growing – in June 2023, for the first time since we emerged from the pandemic lockdown, monthly ORGANIC digital impressions across Property District’s owned construction and real estate brands exceeded one million (*1,009,883*) – up from a monthly average of 765,876 in Q1! Huge thanks to all of you for your continued support!

Be sure to subscribe to the podcast and check out all of the other real estate and construction shows on  https://ipropertyradio.com/shows/

This week on iPropertyRadio… 

#Property Roundup

On #PropertyRoundup host Carol Tallon chats to Tom McCabe, CFA FRM, Head of Research & Insight with Cushman & Wakefield Ireland. Tom joins us today to discuss the Cushman & Wakefield Irish Hotel Market July 2023. Despite a turbulent few years for the hospitality industry, the hotel market has enjoyed a good performance so far in 2023 from a transactional point of view with approximately €130m transacted across nine deals in addition to a number of hotels and sites going sale agreed in recent weeks. 

Read the full report here- https://lnkd.in/etaFGXTP

*Property Roundup is sponsored by Ireland’s Property District, your industry communications partner: https://propertydistrict.ie/ 

Watch/ listen back: https://ipropertyradio.com/property-matters/

#Proptech Hot Seat

*Delivering data quality at scale*

In the iPropertyRadio.com Proptech Hot Seat with host Carol Tallon this week is Robin Rivaton, CEO of Stonal to discuss his journey into real estate and Stonal. Robin opens the interview talking about what Stonal is, who its customers are, and what problems it is solving. He shared insights into the current state of the real estate sector, from market trends to technological adoption. 

Listen back to the full interview to hear how Stonal is differentiating itself in the crowded UK market and why Stonal is more than just an AI company. 

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

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

#BreakingGround

This week on #BreakingGround host Carol Tallon chats to Laura Conway & Thomas Brennan, self builders from County Kilkenny, you can find their self build journey on Instagram at The_Cabin_Revamp. Laura & Thomas started their self build journey almost 8 years, moving into a cabin on their green field site in hopes of getting planning permission. One wedding, two kids and a pandemic later, the house is well under way and is looking amazing! 

Listen back to hear about all the ups and downs Laura and Thomas have persevered through to get to this stage.

*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 Hear Me Roar Media https://hearmeroarmedia.com/

NEWSTALK 

Property District CEO Carol Tallon joined Kieran Cuddihy on Thursday afternoon to discuss why Ireland’s housing ‘crisis’ needs to be upgraded to ‘emergency’ status, particularly to overcome persistent planning failings and speed up delivery of homes (including self-builds)

Listen back: https://www.newstalk.com/shows/the-hard-shoulder-234864

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Ag crúthú Luach Sóisialta  Trí Comhforbairt Áite (Creating Social Value Through Placemaking) 👉https://placeengage.com/ag-cruthu-luach-soisialta-tri-comhforbairt-aite/ 

• Digital Placemaking Tools for Public Consultation & Community Engagement | PLACEengage https://placeengage.com/digital-placemaking-tools-for-public-consultation-community-engagement/

• ‘A revolution of the heart’: How the Irish language is poised to take on a new life: Forget the days of rote learning and awkward exams – a modern revival of spoken Irish is being driven by a desire to make it a living language https://www.irishexaminer.com/lifestyle/people/arid-41187463.html

• Why is the State investing billions in projects that depend on goodwill of property owners? There is one phrase that does not appear anywhere in Government’s outdoor recreation strategy: ‘right of way’, the great unmentionable https://www.irishtimes.com/opinion/2023/07/22/fintan-otoole-why-is-the-state-investing-billions-in-projects-that-depend-on-goodwill-of-property-owners/

• The magic of Dublin’s Grand Canal – an extract from the new book https://www.rte.ie/culture/2023/0716/1391635-the-magic-of-dublins-grand-canal-an-extract-from-the-new-book/

• More than 200 Dundrum residents have attended a community meeting opposing Dun Laoghaire-Rathdown County Council’s preposed Local Area Plan https://www.irishtimes.com/ireland/dublin/2023/07/21/dundrum-residents-turn-out-in-hundreds-to-object-to-councils-redevelopment-plans/ Also: What is in the proposed new Dundrum Local Area Plan? Car drivers will not be banned but will be inconvenienced to allow space for buses, cyclists and pedestrians https://www.irishtimes.com/ireland/dublin/2023/07/21/what-is-in-the-proposed-new-dundrum-local-area-plan/ 

• Balbriggan’s Main Street undergoes major refurbishment thanks to enhancement scheme by Fingal County Council’s Town Rejuvenation Office. https://www.fingal.ie/news/balbriggans-main-street-undergoes-major-refurbishment-thanks-enhancement-scheme-fingal-county

• Net loss – Dalymount Park revamp delays cost €7m: Two years ago, Dublin City Council warned government officials that dragging heels on funding would see costs of build rise by €1.75 million per year https://www.businesspost.ie/news/net-loss-dalymount-park-revamp-delays-cost-e7m/

• Cork residents fail in ‘class action’ against landlord over anti-social activity by his tenants: A solicitor for the residents said the ruling means people “can no longer protect their anonymity” by complaining via their residents’ association. https://www.thejournal.ie/cork-antisocial-behaviour-6120899-Jul2023/

• Former Cork school building to be converted into accommodation for Ukrainian refugees: The former Gaelscoil Uí Ríordáin building has been vacant for more than a decade https://www.irishexaminer.com/news/munster/arid-41189107.html

• Public consultation commences on proposed affordable housing development in Ballincollig https://www.echolive.ie/corknews/arid-41188189.html

• Expert questions state’s delay over repurposing former nursing homes: Industry insider rejects claims that closures are linked to a ‘better deal’ with refugee accommodation, saying rising staff costs in smaller homes are contributing to the problem https://www.businesspost.ie/article/expert-questions-states-delay-over-repurposing-former-nursing-homes/

• Letteragh Road lacking amenities and road safety measures with hundreds of homes going up https://www.galwaydaily.com/news/letteragh-road-lacking-amenities-and-road-safety-measures-with-hundreds-of-homes-going-up/

• County council confirms new playground to be built in Claregalway https://connachttribune.ie/county-council-confirms-new-playground-to-be-built-in-claregalway/

• Limerick is due a high street revival https://www.limerickpost.ie/2023/07/22/limerick-is-due-a-high-street-revival/

• Council seek permission to purchase derelict sites https://www.limerickpost.ie/2023/07/18/council-seek-permission-to-purchase-derelict-sites/

• Zero refurbishment grants issued in Wicklow since scheme opened https://wicklownews.net/2023/07/zero-refurbishment-grants-issued-in-wicklow-since-scheme-opened/

• Public asked for opinions on delayed Wicklow town and Rathnew Local Area Plan https://www.independent.ie/regionals/wicklow/wicklow-district/public-asked-for-opinions-on-delayed-wicklow-town-and-rathnew-local-area-plan/a1287767123.html

• Works are underway on the construction of new creche in Ballon, Carlow https://www.carlowlive.ie/news/home/1253979/works-are-underway-on-the-construction-of-new-crechein-ballon-carlow.html

• Ukrainian Families To Begin Occupying Columb Barracks Modular Homes Next Month https://www.midlands103.com/news/midlands-news/ukrainian-families-to-begin-occupying-columb-barracks-modular-homes-next-month/

• Glamping pods being planned near Monasterevin https://www.kildarenow.com/news/home/1252978/kildare-glamping-pods-being-planned-near-monasterevin.html

• Plans to demolish Bray library to make way for €3m revamp are lodged https://m.independent.ie/regionals/wicklow/bray-news/plans-to-demolish-bray-library-to-make-way-for-3m-revamp-are-lodged/a1995447936.html

• Planning Application submitted for New School Building for  Newtownmountkennedy Primary School https://wicklownews.net/2023/07/planning-application-submitted-for-new-school-building-for-newtownmountkennedy-primary-school/

• Wexford residents close to planned asylum centre ‘want to know what’s going on’: Work is currently under way to transform old Wexford Garda Station https://m.independent.ie/regionals/wexford/news/wexford-residents-close-to-planned-asylum-centre-want-to-know-whats-going-on/a1219547671.html

• 10 Year Development Plan Announced For Offaly Lake And Trail https://www.midlands103.com/news/midlands-news/10-year-development-plan-announced-for-offaly-lake-and-trail/

• An Bórd Pleanála Gives Green Light For New Shared Shower And Changing Facilities In Kilkee https://www.clare.fm/news/bord-pleanala-gives-green-light-new-shared-shower-changing-facilities-kilkee/

• Dereliction conference to be held in Letterkenny next week https://www.donegaldaily.com/2023/07/16/dereliction-conference-to-be-held-in-letterkenny-next-week/

CONSTRUCTION, MMC & DEVELOPMENT NEWS

• MMC Ireland: Roadmap for Increased Adoption of Modern Methods of Construction in Public Housing Delivery https://mmcireland.ie/roadmap-for-increased-adoption-of-modern-methods-of-construction-in-public-housing-delivery/

• ‘As an industry, it has come on in leaps and bounds’: Why more women are joining construction https://www.image.ie/agenda/as-an-industry-it-has-come-on-in-leaps-and-bounds-why-more-women-are-joining-construction-754725/amp

• Property needs 100,000 more workers to tackle housing crisis: Ireland needs thousands of workers in Irish property, land and construction over the next decade, says the new president of the Society of Chartered Surveyors Ireland https://www.irishexaminer.com/business/companies/arid-41183362.html

• Fall in new housing starts this year: The Construction Industry Forecast 2023-2025 expects the overall value of residential project starts to fall 5pc this year to €3.96bn, after declining by 15pc last year to €4.27bn https://m.independent.ie/business/commercial-property/value-of-new-housing-schemes-under-construction-falls-again/a196606470.html

• Housing completions to decline this year, say estate agents – Prices expected to rise by 2 per cent in coming 12 months, survey shows https://www.irishtimes.com/business/2023/07/21/housing-completions-to-decline-this-year-say-estate-agents/

• Housebuilding holding up but ‘acute undersupply’ to last: Goodbody economists in ‘Embarrassment of Riches’ report suggests the Government has a wealth of options to deal with the crisis https://www.irishexaminer.com/business/economy/arid-41186794.html

• Slashing Vat for builders may lead to house price increases, tax strategy report warns: Tax Strategy Group fears reversing any rate cut could lead builders to pass their extra costs on to buyers https://m.independent.ie/irish-news/politics/slashing-vat-for-builders-may-lead-to-house-price-increases-tax-strategy-report-warns/a269333820.html Also: O’Brien ‘not looking for’ construction sector VAT reduction https://www.breakingnews.ie/ireland/obrien-not-looking-for-construction-sector-vat-reduction-1504378.html

• Housing Department to create a new position for a deputy secretary-general https://extra.ie/2023/07/22/news/irish-news/housing-department-e200k-job

• Sharp drop in land deals bodes badly for future housing supply: Sherry FitzGerald says 2023 volumes represent a 65pc decline from 2022 https://m.independent.ie/business/commercial-property/sharp-drop-in-land-deals-bodes-badly-for-future-housing-supply/a122082882.html

• Builders to get up to €200,000 per cost rental home under new €750m scheme https://m.independent.ie/irish-news/builders-to-get-up-to-200000-per-cost-rental-home-under-new-750m-scheme/a1403912250.html

• Land Development Agency to begin buying private sites for quick delivery of public housing – State body to expand activity so public, social and affordable housing projects can move quickly to construction https://www.irishtimes.com/ireland/housing-planning/2023/07/21/land-development-agency-to-start-buying-privately-owned-sites/

• Paddy McKillen does not believe Qatari state supports Maybourne in dispute with him – Developer speaking after being appointed Vietnam’s honorary consul in Ireland https://www.irishtimes.com/business/2023/07/17/paddy-mckillen-does-not-believe-qatari-state-supports-maybourne-in-dispute-with-him/

• Pat Kenny made ethics complaint amid Dalkey planning row: Irish Planning Institute found a significant breach of ethics code did not take place https://www.irishtimes.com/business/2023/07/17/broadcaster-kenny-made-ethics-complaint-amid-dalkey-planning-row/

• Not possible to calculate total cost of children’s hospital works until court case resolved – BAM: Application for case to return to fast-track list was made by lawyers for the contractor after intensive talks over 18 months ‘broke down’ https://www.irishtimes.com/crime-law/courts/2023/07/17/not-possible-to-calculate-total-cost-of-childrens-hospital-works-until-court-case-resolved-bam/ Also: Investigators denied access to children’s hospital site for six weeks, says development board – Rift widens between board overseeing project and builder as minutes reveal May 2024 completion deadline may be missed https://www.irishtimes.com/politics/2023/07/18/investigators-denied-access-to-childrens-hospital-site-for-six-weeks-says-development-board/

• Who are Kroll, the investigators brought in to run rule over National Children’s Hospital? Corporate-intelligence firm with global reach regularly employed by multinationals and governments https://www.irishtimes.com/politics/2023/07/18/who-are-kroll-the-investigators-brought-in-to-run-rule-over-national-childrens-hospital/

• Dublin City Council receives more than 70 objections to €300m apartment scheme: Ardstone proposing 636-unit development near Milltown in south Dublin https://www.irishtimes.com/business/2023/07/18/milltown-apartment-plan-sees-more-than-70-objections/?

• Planning sought for 564 homes in Balbriggan: Dean Swift Property Holdings seeks 10-year permission https://www.irishtimes.com/business/2023/07/17/planning-sought-for-564-homes-in-balbriggan/

• Michael Moran’s Seabren sits tight on €59m sale of high-end apartments in south Dublin: Ninety-one units on former Europa Garage lands in Blackrock due for practical completion in final quarter https://www.irishtimes.com/property/residential/2023/07/20/seabren-sits-tight-on-59m-sale-of-high-end-apartments-in-south-dublin/

• Dunnes Stores win planning battle with locals over new Monkstown suburban outlet https://www.breakingnews.ie/business/dunnes-stores-win-planning-battle-with-locals-over-new-monkstown-suburban-outlet-1504908.html

• Solicitor in dispute with family of developer Liam Smyth over Dublin 4 laneway https://www.breakingnews.ie/ireland/solicitor-in-dispute-with-family-of-developer-liam-smyth-over-dublin-4-laneway-1505532.html Also: Dublin 4 neighbours face off in High Court over right-of-way dispute: Trial hears allegations of demands for a €2m property and sums of money, a ‘ransom strip’ and illegal dumping https://www.businesspost.ie/news/dublin-4-neighbours-face-off-in-high-court-over-right-of-way-dispute/ 

• Jim Kennedy’s JWPL loses out on €5.8m claim over Carrickmines land after appeal https://www.breakingnews.ie/ireland/jim-kennedys-jwpl-loses-out-on-e5-8m-claim-over-carrickmines-land-after-appeal-1505380.html

• Legal hitch delays purchase of buildings that symbolise Cork city’s dereliction problem: The four buildings were owned by David O’Connor and Bryan O’Connor when they were placed on the derelict sites register in December 2015 https://www.irishexaminer.com/news/munster/arid-41186227.html

• City council greenlights new plans to transform old Cork bar into 9 upside-down townhouses: The new owner has been given the go-ahead for back-to-back ‘upside-down’ patio townhouses https://www.corkbeo.ie/news/local-news/city-council-greenlights-new-plans-27352698

• Six-storey apartment blocks planned at site of old Blackrock Rd houses: In total 44 apartments would be built along with four three-storey ‘mews’ houses https://www.corkbeo.ie/news/local-news/six-storey-apartment-blocks-planned-27374882

• Baltimore’s Old Station House up for sale and on track for a new role: “Rare opportunity to secure a high-profile site” in the centre of a busy West Cork tourist town https://www.irishexaminer.com/property/commercial/arid-41187127.html

• Limerick bringing the most vacant sites back into use, figures show: A sample size from 20 councils shows a wide discrepancy, with more than 755 sites overall having been brought back into use https://www.newstalk.com/news/limerick-bringing-the-most-vacant-sites-back-into-use-figures-show-1488018

• Appeal to An Bord Pleanala over refusal of student accommodation in Newcastle https://galwaybayfm.ie/galway-bay-fm-news-desk/appeal-to-an-bord-pleanala-over-refusal-of-student-accommodation-in-newcastle/

• Permission is being sought for two new apartment blocks in Newcastle, Galway by Shawder Ltd, consisting of ten single-bedroom units and eight two-bedroom units https://galwaybayfm.ie/galway-bay-fm-news-desk/plans-for-two-new-apartment-blocks-in-newcastle/

• New shopping complex planned for Limerick city https://www.limerickleader.ie/news/home/1250815/new-shopping-complex-planned-for-limerick-city.html

• Waterford City and County Council have granted planning permission for a major housing development. S&K Carey have been approved to construct 21 units at a site in Tramore. The development consists of alterations to previously granted permission for nine two-storey detached units.  https://www.waterfordlive.ie/news/local-news/1250365/planning-approved-for-major-waterford-housing-development.html

• Plan to transform Kildare Innovation Campus is submitted for planning: It is hoped that 4,000 new jobs will be created as a result of the investment https://www.kildarenow.com/news/home/1250453/breaking-plan-to-transform-kildare-innovation-campus-is-submitted-for-planning.html

• 26 new homes being planned for Rathangan https://www.leinsterleader.ie/news/home/1254137/kildare-26-new-homes-being-planned-for-rathangan.html

• Plans lodged for 122 new homes in Ardee: 
• Large-scale Residential Development Application submitted to Louth County Council https://www.ireland-live.ie/news/louth-live/1255105/plans-lodged-for-122-new-homes-in-ardee.html

• Large scale residential development planned for Offaly town https://www.offalyexpress.ie/news/tullamore-tribune/1251526/large-scale-residential-development-planned-for-offaly-town.html

• Longford apartment planning application put on hold https://www.longfordleader.ie/news/home/1247936/longford-apartment-planning-application-put-on-hold.html

• Planning granted for large scale stone, sand, and gravel extraction in Roscommon https://www.shannonside.ie/news/planning-granted-for-large-scale-stone-sand-and-gravel-extraction-in-roscommon-226811

• Green light for demolition of derelict cottage for new café in Fenit https://www.radiokerry.ie/news/green-light-for-demolition-of-derelict-cottage-for-new-cafe-in-fenit-339666

• Sisk UK construction division makes a loss https://www.constructionenquirer.com/2023/07/17/sisk-uk-construction-division-makes-a-loss/

• Kingspan to buy majority stake in German natural insulation maker – Irish company will pay €251.4m upfront and as much again if targets achieved https://m.independent.ie/business/irish/kingspan-to-buy-majority-stake-in-german-natural-insulation-maker/a1860366474.html

• BAM UK & Ireland has today announced a realignment of the operating regions for its Construction segment in England https://www.bam.com/en/press/press-releases/2023/7/bam-announces-changes-to-construction-segment-operating-regions Also: Redundancies at BAM construction group amid major regional restructure: The business is reducing the number of operating regions from seven to five across England https://www.business-live.co.uk/commercial-property/redundancies-bam-construction-group-amid-27352310.amp 

• Ballymore sells majority stake in British property management firm: Buyout of company with 11,500 homes in its portfolio led by current managing director following strategic review of business https://www.businesspost.ie/news/ballymore-sells-majority-stake-in-british-property-management-firm/

• Are Architecture Firms the Next Design Thinking and Innovation Giants? https://www.archdaily.com/1004063/are-architecture-firms-the-next-design-thinking-and-innovation-giants

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

• Behind The Numbers: Ireland’s Weakening Innovation Status – Ireland has built a reputation as an international tech hub but its domestic businesses and public services are falling down on digitalisation https://businessplus.ie/tech/ireland-innovation/

• Researcher turns basic rule of construction – regarding a hanging chain and masonry arches – upside down https://www.engineersireland.ie/Engineers-Journal/News/researcher-turns-basic-rule-of-construction-regarding-a-hanging-chain-and-masonry-arches-upside-down

• You Bought the Technology, Now What? The construction industry is buzzing with talks of project management platforms, drones, wearables, A.I. bots, and a host of other innovative technologies https://construction.cioreview.com/cxoinsight/you-bought-the-technology-now-what-nid-37765-cid-25.html

• Transformative technology driven by increased demand for MMC https://www.pbctoday.co.uk/news/mmc-news/transformative-technology-driven-increased-demand-for-mmc/130056/

• The key to a sustainable construction industry – Nemetschek’s powerful software could be the key to a more sustainable construction industry, allowing stakeholders to plan carefully and reduce material waste https://www.pbctoday.co.uk/news/digital-construction-news/the-key-to-a-sustainable-construction-industry/129851/

• PropTech Today – Why investing in the right PropTech is like having an extra pair of hands – or two… https://www.estateagenttoday.co.uk/breaking-news/2023/7/proptech-today–why-investing-in-the-right-proptech-is-like-having-an-extra-pair-of-hands–or-two?source=newsticker

• London-based proptech Hello Neighbour raises €2.9 million Series A to save landlords more time and money https://www.eu-startups.com/2023/07/london-based-proptech-hello-neighbour-raises-e2-9-million-series-a-to-save-landlords-more-time-and-money/

• Stylib, a startup revolutionising how design professionals search, review and specify architectural products, has raised £1.5 million in pre-seed funding https://businesscloud.co.uk/news/product-platform-for-architects-raises-1-5m/

• Spain becomes proptech world power, with 580 startups: According to the ‘Proptech Global Trends 2022’ barometer, Spain is 9th in the ranking by number of investors in the 2021-22 period https://nationworldnews.com/the-real-estate-and-technological-sectors-represent-30-of-spanish-gdp/

• Proptech startup Stoa slashes workforce after raising $300 million, uncertain future ahead – The company cut its workforce by 80% from around 100 employees to just 20 and said that “there are several deals on the table that the company is considering” https://www.calcalistech.com/ctechnews/article/sjl3blvcn

• Construction Labor Startup Skillit Closes $8.5 Million Seed Extension: The raise bucks proptech funding slowdown https://commercialobserver.com/2023/07/construction-skillit-million-seed-extension/

• Climate Change: See Where Money and Morals Come Together in the Release of the Sustainable PropTech Canada Report 2023 https://www.businesswire.com/news/home/20230719564391/en/Climate-Change-See-Where-Money-and-Morals-Come-Together-in-the-Release-of-the-Sustainable-PropTech-Canada-Report-2023

ENERGY, CLIMATE & ENVIRONMENT

• Seven questions that explain why Ireland is getting hotter and wetter as global temperatures surge: There is no sugar-coating the alarming heat being experienced throughout the world. But there is hope https://www.irishtimes.com/environment/climate-crisis/2023/07/21/extremes-have-reached-a-new-level-why-global-heatwaves-last-longer-and-ireland-is-hotter-and-wetter/

• Can buildings really be net zero or is this greenwashing? ‘Construction sector in particular is prone to greenwashing due to the project’s longer life cycle and multiple stages.’ Achieving net zero is crucial to mitigate climate change, but it’s complex https://www.rte.ie/brainstorm/2023/0717/1394895-buildings-construction-net-zero-emissions-greenwashing/

• Bord na Móna, ESB start construction of new solar farm https://www.rte.ie/news/business/2023/0720/1395422-bord-na-mona-esb-start-construction-of-new-solar-farm/

• Mercury proposes €200m wind farm and hydrogen plant in Mayo https://www.siliconrepublic.com/business/mercury-renewables-firlough-wind-farm-green-hydrogen-plant-mayo-ireland

• Green hydrogen business targets former denim factory site in Longford – Hydrogen Utopia International has received EU grant aid to develop a facility that turns plastic into hydrogen on the former Atlantic Mills lands https://www.businesspost.ie/article/green-hydrogen-business-targets-former-denim-factory-site-in-longford/

• Solar panels have their moment in the sun as firms enjoy ‘three-year payback’: Expert claims new energy networks can pay for themselves two years ahead of predictions, depending on the size of system put in place https://www.businesspost.ie/article/solar-panels-have-their-moment-in-the-sun-as-firms-enjoy-three-year-payback/

RESIDENTIAL PROPERTY NEWS (including PRS)

• The average price of residential properties nationally increased by 2.4 per cent in the year to May, according to the latest figures from the Central Statistics Office (CSO). The Residential Property Price Index was up by 4.5 per cent outside of Dublin, while prices in the capital fell by 0.2 per cent. https://www.breakingnews.ie/ireland/residential-property-prices-show-2-4-annual-increase-cso-1503614.html 

• Housing transactions hold up despite raft of ECB rate hikes https://m.independent.ie/business/personal-finance/housing-transactions-hold-up-despite-raft-of-ecb-rate-hikes/a1037148996.html

• ‘Out of reach’ – squeeze on home buyers to continue as estate agents expect 2pc rise in next year: ‘New homes beyond people on average salaries in the commuter belt counties of Wicklow and Kildare’ https://m.independent.ie/business/personal-finance/out-of-reach-squeeze-on-home-buyers-to-continue-as-estate-agents-expect-2pc-rise-in-next-year/a1597190068.html

• ‘Prices are still being jacked up’ – Consumer watchdog urges probe as home insurance premiums rocket by almost 22pc https://m.independent.ie/business/personal-finance/prices-are-still-being-jacked-up-consumer-watchdog-urges-probe-as-home-insurance-premiums-rocket-by-almost-22pc/a611397160.html

• Charming two-bed home in Dublin city centre on market for €395,000 https://ipropertyradio.com/charming-two-bed-home-in-dublin-city-centre-on-market-for-e395000/

• JUST four vacant property refurbishment grants have been issued in 2023.  https://www.tipperarylive.ie/news/national-news/1250555/shocking-just-four-vacant-property-refurbishment-grants-issued-so-far-this-year.html

• Housing trusts urged to change rules on sub-letting to help ease accommodation shortage https://m.independent.ie/irish-news/housing-trusts-urged-to-change-rules-on-sub-letting-to-help-ease-accommodation-shortage/a1855243730.html

• Just 50 properties available in June under HAP rates https://www.rte.ie/news/2023/0722/1395979-simon-report-hap/

• Rise in renters seeking support over rental deposits https://www.rte.ie/news/ireland/2023/0720/1395472-rent-deposit-protection-scheme/

• Limerick short-term lets fly in face of legislation https://www.limerickpost.ie/2023/07/21/limerick-short-term-lets-fly-in-face-of-legislation/

• AN IMPOSING former corn mill in the heart of Limerick is one of eight city sites the council is seeking to acquire. The local authority has sought permission from An Bord Pleanala to buy 23 derelict sites across the city and county under CPO legislation https://www.ireland-live.ie/news/limerick-live/1252274/council-seek-ok-to-buy-derelict-units-in-limerick.html

• Bringing money into Ireland from abroad to buy a home – Q&A: How much you will need to fund your home purchase depends on whether you qualify for first-time buyer status https://www.irishtimes.com/your-money/2023/07/18/bringing-money-into-ireland-from-abroad-to-buy-a-home/

• How do I claim the €500 rent relief that I’m entitled to? Property Clinic: I’m a PAYE worker and have no idea how the tax system workshttps://www.irishtimes.com/property/residential/2023/07/18/how-do-i-claim-the-500-rent-relief-that-im-entitled-to/

• Period renovation: Family friendly and classically beautiful by design: Wonky walls, pandemic delays and rising damp were just a few of the challenges that had to be overcome to turn around this handsome period residence in Booterstown, South Co Dublin https://www.businesspost.ie/article/period-renovation-family-friendly-functional-and-classically-beautiful-by-design/

• Galway village ‘Old Schoolhouse’ lands on the market becoming huge opportunity for buyers – This property is “steeped in history and character” and has everything you need https://www.galwaybeo.ie/news/property/galway-village-old-schoolhouse-lands-8605117

• Wicklow cottage built for station master steams onto market for €485k https://evoke.ie/2023/07/17/life-style/property/station-masters-house

• This Irish Estate Comes With a Spare Castle—and Views of Stone Age Tombs: The Victorian-era main house, Netterville Manor, is located in Boyne Valley, home to grand, 5,000-year-old grave sites https://www.mansionglobal.com/amp/articles/this-irish-estate-comes-with-a-spare-castleand-views-of-stone-age-tombs-44541f8e

• Complex discussion at county council ensues over application to dispose of Wexford town house https://m.independent.ie/regionals/wexford/wexford-district/complex-discussion-at-county-council-ensues-over-application-to-dispose-of-wexford-town-house/a1072614160.html

• Fine Regency home on estate with large dairy farm hits the market at €9m: Set on about 564 acres, the estate in the Kentstown area of Navan includes a traditional, two-bedroom gate lodge while the farm features mostly tillage/pasture land with seven acres of woodlands https://www.businesspost.ie/article/fine-regency-home-on-estate-with-large-dairy-farm-hits-the-market-at-e9m/

• Meet the Expert: Avril Clare used the pandemic as a springboard to launch her thriving property management recruitment firm, Avril Clare Recruitment https://www.businesspost.ie/article/meet-the-expert-avril-clare/

COMMERCIAL PROPERTY NEWS

• Retail parks, shopping centres and quality streets prove to be the biggest draw for investors: Footfall across all three subsectors of the retail market has now rebounded to pre-Covid levels https://www.irishtimes.com/property/commercial-property/2023/07/19/retail-parks-shopping-centres-and-quality-streets-prove-to-be-the-biggest-draw-for-investors/

• Central Dublin’s shops see rising rents and occupancy as retail footfall increases https://m.independent.ie/business/commercial-property/central-dublins-shops-see-rising-rents-and-occupancy-as-retail-footfall-increases/a498762766.html

• Davy investors snap up seven shopping centres for €103m: Fund controlled by Davy Real Estate completes deals for Kennedy Wilson and Harcourt Developments schemes https://www.irishtimes.com/business/2023/07/20/davy-investors-snap-up-seven-shopping-centres-for-103m/

• Something has to give to kickstart stalled Dublin office market – Kenneth Rouse of BNP Paribas: Investors lose appetite for prime Dublin offices in face of falling occupancy levels and rising interest rates https://www.irishtimes.com/property/commercial-property/2023/07/19/something-has-to-give-to-kickstart-stalled-dublin-office-market/

• Irish Hotel Market Report July 2023, Cushman Wakefield https://www.irishrealestate.news/irish-hotel-market-report-july-2023/

• Operators target Dublin and Cork for new hotel projects https://m.independent.ie/business/commercial-property/operators-target-dublin-and-cork-for-new-hotel-projects/a220533361.html

• Dublin publican buys landmark Eyre Square pub for almost €3 million https://connachttribune.ie/dublin-publican-buys-landmark-eyre-square-pub-for-almost-e3-million/

• Galway City Council’s Crown Square buy was so good it was kept quiet! https://connachttribune.ie/galway-city-councils-crown-square-buy-was-so-good-it-was-kept-quiet/

• Planning approval has been granted for the opening of a trendy new wine bar in a vacant premises in Salthill.  Galway planners give green light for the owners of O’Connors Famous Pub in Salthill to convert the former off-licence on Upper Salthill Road https://www.galwaydaily.com/news/green-light-for-new-wine-bar-in-vacant-salthill-premises/

• Clonakilty’s iconic Atkins DIY, which sold everything ‘from a needle to an anchor’, is up for sale: The 0.6 acre town-centre site, with historic building, is likely to make over €1m https://www.irishexaminer.com/property/commercial/arid-41187133.html

• East Coast Catering plan upgrade of newly acquired Crowe Plaza Hotel in Dundalk https://m.independent.ie/regionals/louth/news/east-coast-catering-plan-upgrade-of-newly-acquired-crowe-plaza-hotel-in-dundalk/a1892834942.html

• Historic Moate Castle on sale for €650,000 https://www.westmeathindependent.ie/2023/07/19/historic-moate-castle-on-sale-for-e650000/

• Killeens Service Station in Wexford sold to Maxol in multi-million euro private deal https://m.independent.ie/regionals/wexford/wexford-district/killeens-service-station-in-wexford-sold-to-maxol-in-multi-million-euro-private-deal/a1729165223.html

INTERNATIONAL PROPERTY NEWS

• UK House Price Index for May 2023 – The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland. https://www.gov.uk/government/news/uk-house-price-index-for-may-2023

• Demand for urban real estate will be challenged for the rest of the decade. Here’s how the world’s superstar cities are projected to fare by 2030 https://fortune.com/2023/07/20/demand-for-urban-real-estate-will-be-challenged-for-the-rest-of-the-decade-heres-how-the-worlds-superstar-cities-are-projected-to-fare/

• Stateside: These Will Be the Best States To Buy Property in the Next 5 Years https://www.gobankingrates.com/investing/real-estate/real-estate-agent-these-will-be-best-states-to-buy-property-in-next-5-years/

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/