SUNDAY PROPERTY ROUND-UP JULY 10TH, 2022

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: 

• SOCIAL MEDIA TRENDS FOR ESTATE AGENTS 2022 https://propertydistrict.ie/social-media-trends-for-estate-agents-2022/ 

• Budget 2023 brought forward by two weeks to 27 September and to comprise €6.7 billion package: The government has published its Summer Economic Statement, which outlines the parameters for the Budget.  https://www.thejournal.ie/summer-economic-statement-cost-of-living-5806992-Jul2022/

• MORE THAN €2.75 BILLION INVESTED IN THE FIRST HALF OF 2022: “…we can expect to see a widening gap between buyer and seller expectations, particularly for secondary buildings with low ESG credentials…” http://www.irishrealestate.news/ireland-continuing-to-buck-the-trend-in-terms-of-economic-and-property-market-performance-despite-headwinds/

• The Business Post reports ‘Secrecy jurisdiction’ and tax haven companies to build 8,400 homes here: Foreign-based property firms controlled by mystery shareholders plan to construct large apartment blocks for the rental sector under the SHD scheme  https://www.businesspost.ie/news/secrecy-jurisdiction-and-tax-haven-companies-to-build-8400-homes-here/ 

• Savills stats: The Irish property investment market experienced strong activity in the second quarter of 2022, according to Savills Ireland, with transactions totalling more than €2.3bn, bringing the half-year total to a record €3.2bn. https://www.insidermedia.com/news/ireland/irish-property-investment-market-passes-3bn-in-h1

• IDA Ireland investments at record levels, CEO Shanahan to step down next year bhttps://www.rte.ie/news/business/2022/0706/1308725-ida-ireland-mid-year-results/ Also: EXIT INTERVIEW: ‘We’ve really focused on the regions, and I think that has borne fruit’ – Under Martin Shanahan’s stewardship, the IDA has overseen a 54 per cent increase in the number of multinational companies with a presence in this country, while the value of their annual exports has more than doubled to €294.1 billion  https://www.businesspost.ie/news-focus/weve-really-focused-on-the-regions-and-i-think-that-has-borne-fruit-martin-shanahan-ida-chief/

• IDA boss says data centre moratorium weakens Ireland as a European tech hub: Martin Shanahan has warned that the current ban on new data centre facilities in the Dublin area could prompt global tech firms to retreat from this country  https://www.businesspost.ie/news/ida-boss-says-data-centre-moratorium-weakens-ireland-as-a-european-tech-hub/

• Generation Rent faces an old age of poverty as middle-aged renters unlikely to own homes: State ‘unlikely to be able to carry cost burden of people renting in retirement’  https://m.independent.ie/news/generation-rent-faces-an-old-age-of-poverty-as-middle-aged-renters-unlikely-to-own-homes-41817094.html

• Homlessness rises 16% in six months after thousands of eviction notices served: Highest number of notices to quit served between January and April this year since data collection began in 2019  https://www.irishtimes.com/politics/oireachtas/2022/07/05/homlessness-rises-16-as-almost-4000-eviction-notices-served-since-april/

• Donohoe announces plan for Vacant Property Tax as part of Budget 2023: New data from Revenue has shown that there are 57,206 vacant properties across the State.  https://www.thejournal.ie/vacant-property-tax-announced-budget-2023-5809563-Jul2022/?amp=1

• An Bord Pleanála is seeking corporate governance support for its board, as the scandal-hit agency aims to get “independent, impartial advice” in the future. https://www.irishexaminer.com/news/arid-40911890.html

• Paul Hyde resigns from An Bord Pleánala following allegations of conflict of interest: Mr Hyde tendered his resignation to Minister for Housing Darragh O’Brien on Friday  https://www.irishtimes.com/ireland/housing-planning/2022/07/08/paul-hyde-resigns-from-an-bord-pleanala-following-allegations-of-conflict-of-interest/ But: Investigation at An Bord Pleanála unaffected by resignation, says department: Paul Hyde’s departure from his position with the planning appeals authority was confirmed on Friday  https://www.irishtimes.com/ireland/housing-planning/2022/07/09/investigation-into-conflict-on-interest-at-an-bord-pleanala-unaffected-by-resignation-says-department/ 

• Report into Bord Pleanála planning practices must be published without delay – Reacting to the resignation of the Bord’s deputy chair, Paul Hyde, the Sinn Féin spokesman for housing said that action must be taken to restore public confidence in the planning system  https://www.businesspost.ie/news/report-into-bord-pleanala-planning-practices-must-be-published-without-delay-o-broin/

• Oxley Holdings to focus on developed countries that are ‘more politically stable, transparent’  https://www.businesstimes.com.sg/companies-markets/oxley-holdings-to-focus-on-developed-countries-that-are-more-politically-stable  

• Tax review body recommends higher property levy  https://www.irishtimes.com/business/2022/07/05/tax-review-body-recommends-higher-property-levy-and-congestion-charges/

• Constitutional right to housing would be ‘limited’ rather than radical, committee hears: A public consultation process is currently taking place on the possibility of a referendum on housing.  https://www.thejournal.ie/limited-use-of-constitutional-right-to-housing-5808675-Jul2022/

• National forest estate expands to almost 12% of total land area: Minister of State with responsibility for Forestry at the Department of Agriculture, Pippa Hackett has announced the publication of the annual forest statistics. https://www.farmersjournal.ie/national-forest-estate-expands-to-almost-12-of-total-land-area-708672

• Williamstown Auctioneer elected President of the Institute of Professional Auctioneers and Valuers https://connachttribune.ie/listen-williamstown-auctioneer-to-be-elected-president-of-the-institute-of-professional-auctioneers-and-valuers-this-evening/amp/

• Architect at Government housing agency awarded €5,000 after claim over ‘toxic’ male culture  https://m.independent.ie/news/architect-at-government-housing-agency-awarded-5000-after-claim-over-toxic-male-culture-41811891.html But: Architect says her award in ‘draining’ WRC gender discrimination case unlikely to encourage others: Auveen Coombes-Lynch won her action over a a “toxic” male culture in the Housing Agency https://www.businesspost.ie/news/architect-says-her-award-in-draining-wrc-gender-discrimination-case-unlikely-to-encourage-others/

• Website that lists derelict properties across Ireland is ‘not naming and shaming’: Structural engineer James McGauran says Dog-house.ie will raise awareness about the level of dereliction in the country  https://www.businesspost.ie/news/website-that-lists-derelict-properties-across-ireland-is-not-naming-ans-shaming/

• Property group threatens legal action over website’s refusal to advertise its houses  https://www.irishnews.com/business/2022/07/05/news/property-group-threatens-legal-action-over-website-s-refusal-to-advertise-its-houses-2763229/

• Meta’s data centre used same electricity as 151,000 homes: The company’s latest sustainability report has shown that the amount of electricity consumed by the Meath data centre has nearly doubled since 2019  https://www.businesspost.ie/news/metas-data-centre-used-same-electricity-as-151000-homes/

• Infrastructure fund worth €1bn-plus set for the market: Enet and Convention Centre Dublin among assets to be sold as Isif poised for huge exit https://www.thetimes.co.uk/article/infrastructure-fund-worth-1bn-plus-set-for-the-market-2895x25t7

• ISIF exits Finance Ireland as M&G buys significant stake in the non-bank lender  https://www.rte.ie/news/business/2022/0705/1308628-isif-exits-finance-ireland-as-mg-buys-large-stake/ Also: ISIF’s actively-managed portfolio grew 10.7 per cent in 2021. That was good going- ISIF is an increasingly confident institution. This can be seen in the number and size of its 2021 deals. https://thecurrency.news/articles/89666/isifs-actively-managed-portfolio-grew-10-7-per-cent-in-2021-that-was-good-going/ 

• Minister Hackett announces publication of Forest Statistics Ireland 2022  https://www.gov.ie/en/press-release/9ac3b-minister-hackett-announces-publication-of-forest-statistics-ireland-2022/

• Why businesses need to talk about employee burnout: Organisations need to help staff recognise the signs and put in place mental wellbeing strategies for anyone affected by the condition  https://www.businesspost.ie/post-plus/why-businesses-need-to-talk-about-employee-burnout/

• What a tribute and what a contribution over such a short life… Will Friend, Transformative CEO Of Bisnow, Passes Away At 33  https://www.bisnow.com/national/news/commercial-real-estate/remembering-the-life-and-legacy-of-bisnow-ceo-will-friend-113683

• Dezeen founder Marcus Fairs dies aged 54  https://www.dezeen.com/2022/07/04/marcus-fairs-dezeen-founder-dies/

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 iPropertyRadio this week…

Part 1: Cllr. Anne Colgan, Independent and Cllr. Jim O’Leary, Fine Gael – both sitting on DLRCoCo – and Shane O’Brien Policy Officer with Sinn Fein join host Bryan Fox to discuss local development in South Dublin and the role of a directly elected mayor.

Listen back: https://ipropertyradio.com 

In the Proptech Hot Seat today … is Adam Ferguson, Chief Commercial Officer of Daft.ie, part of Distilled, to share market insights on the sales and rental market in Ireland and ways to stimulate the supply of new homes. We also discuss the role of proptech in satisfying the consumer need for 24/7 interactions and the company’s new automated valuation tool. 

Produced by Bríd Molloy and Hear Me Roar Media

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

Listen back to all shows at www.ipropertyradio.com  

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• For Public Consultation: Draft Planning and Development Act 2000 (Exempted Development) (No. 3) Regulations 2022 and the Draft Planning and Development (Solar Safeguarding Zone) Regulations 2022: https://open-public-consultations.squarespace.com/open-public-consultations/draft-planning-and-development-act-2000-exempted-development-no3-regulations-2022

• Dublin’s €9.5bn Metrolink planning submission is approved by Cabinet  https://www.irishexaminer.com/news/arid-40910666.html

• Can community-owned wind farms help achieve energy freedom? Analysis: Irish citizens investing in wind farms could lead to significant energy cost advantages for their local community https://www.rte.ie/brainstorm/2022/0704/1308355-wind-farms-community-ownership/

• Butcher lodges appeal against €500m plan for Moore Street area: Dublin city centre trader fears impact Hammerson development will have on local business culture  https://www.irishtimes.com/business/2022/07/05/butcher-lodges-appeal-against-500m-plan-for-moore-street-area/

• Plan to turn Dublin Magdalene laundry into memorial centre set for approval: Former institution on Seán McDermott Street in inner city to become ‘multipurpose site of conscience’  https://www.irishtimes.com/ireland/social-affairs/2022/07/04/plan-to-turn-dublin-magdalene-laundry-into-memorial-centre-set-for-approval/

• Key feature of scheme to be ‘canalisation’ of River Bracken with broad steps leading to waterway and increased planting as well as enhanced flood protection for the town  https://www.irishtimes.com/ireland/dublin/2022/07/07/public-consultation-on-plans-to-transform-the-centre-of-balbriggan-as-part-of-a-10-million-redevelopment/

• Dublin City Council has opened three new parks this year https://lovindublin.com/news/dublin-city-council-has-opened-three-new-parks-this-year 

• Cork’s Top 10 beaches revealed as Google Maps confirms West is still best for sandy strands: No prizes for guessing the best beach in Cork – but there are some surprises  https://www.corkbeo.ie/culture/family-kids/corks-top-10-beaches-revealed-24413702

• Bonanza for Adare boutiques as golf Wags given €10,000 each to spend during JP McManus charity pro-am  https://www.independent.ie/irish-news/bonanza-for-adare-boutiques-as-golf-wags-given-10000-each-to-spend-during-jp-mcmanus-charity-pro-am-41815954.html

• Moving out: up sticks and head to the countryside – Meet the families heading out of the city for a quieter life in the country  https://www.thetimes.co.uk/article/moving-out-up-sticks-and-head-to-the-countryside-fqnffztvd

• Spectacular suspended walkway and 12-storey slide opens at Avondale Forest Park: President Higgins lauds ‘responsible tourism’ at €19m Beyond the Trees experience in Co Wicklow  https://www.irishtimes.com/ireland/2022/07/06/spectacular-suspended-walkway-and-12-storey-slide-opens-in-avondale-forest-park/

• Carlow’s recently adopted County Development Plan has received praise from the Office of the Planning Regulator (OPR).  https://carlow-nationalist.ie/2022/06/30/carlows-county-development-plan-receives-praise/

• Solving ‘very dangerous corner’ in Portlaoise road requires property purchases  https://www.leinsterexpress.ie/news/local-news/851890/solving-very-dangerous-corner-in-portlaoise-road-requires-property-purchases.html

• Green light for Spiddal hotel to bring tourism and employment opportunities  https://galwaybayfm.ie/galway-bay-fm-news-desk/green-light-for-spiddal-hotel-to-bring-tourism-and-employment-opportunities/

• Website launched to show council income and spending for 2022: Researchers from NUI Galway have launched the 2022 local authority website which shows council revenue incomes and spending on local public services.  https://www.donegaldaily.com/2022/07/05/website-launched-to-show-council-income-and-spending-for-2022/amp/

• The Sligo community fighting Paul Hyde’s mast decision: The move to grant an appeal was in complete conflict with the assessments of both the local authority and An Bord Pleanála’s own planning inspector  https://www.irishexaminer.com/news/spotlight/arid-40911101.html

• Laois Carlow co-operation delivers badly needed homes: Estate was originally the victim of Celtic Tiger property crash cost €14 million  https://www.leinsterexpress.ie/news/home/856041/laois-carlow-co-operation-delivers-badly-needed-homes.html

• 36 hours on Rathlin Island: ‘I like the life here. There is no crime’: Rosita Boland meets some of the 145 residents of the island off the Co Antrim coast  https://www.irishtimes.com/life-style/travel/2022/07/16/36-hours-on-rathlin-island-i-like-the-life-here-there-is-no-crime/

*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* https://www.youtube.com/watch?v=rdwwKy4MA_4 

CONSTRUCTION & DEVELOPMENT NEWS

• An Bord Pleanála wins appeal over planning application requirement  https://www.breakingnews.ie/amp/ireland/an-bord-pleanala-wins-appeal-over-planning-application-requirement-1329526.html

• An Bord Pleanála described as a ‘joke’ at council meeting: Dún Laoghaire-Rathdown County Council passes motion over loss of faith in planning board’s integrity  https://www.irishtimes.com/ireland/housing-planning/2022/07/04/an-bord-pleanala-described-as-a-joke-at-council-meeting/

• Officials note potential for builders to ‘walk away’ from State projects: Briefing warns of construction sector’s ‘difficulties’ in completing works at the ‘agreed price’  https://www.irishtimes.com/business/2022/07/04/officials-note-potential-for-builders-to-walk-away-from-state-projects/

• Construction activity hits 20-year high in Dublin industrial and logistics market  https://www.breakingnews.ie/amp/ireland/construction-activity-hits-20-year-high-in-dublin-industrial-and-logistics-market-1329159.html

• CIS round-up: what’s being built, when and where around the country: The Construction Information Service offers the latest on building schemes around Ireland  https://www.businesspost.ie/property/cis-round-up-whats-being-built-when-and-where-around-the-country-3/

• Real IS, a German property investor, has paid about €42 million for a development of 93 apartments off Malahide Road in Dublin 17. Dublin city council has agreed a 25-year lease on all the homes.  https://www.thetimes.co.uk/article/german-group-moves-in-on-build-to-rent-site-d6v7vwbgq

• Council recommends refusing permission for Gerry Gannon’s €1.15bn housing scheme  https://www.breakingnews.ie/ireland/council-recommends-refusing-permission-for-gerry-gannons-e1-15bn-housing-scheme-1332356.html

• An Bord Pleanála refuses planning permission for 178 homes in Rathfarnham: Move brings to three the number of refusals in Dublin in recent days  https://www.irishtimes.com/business/2022/07/05/an-bord-pleanala-refuses-planning-permission-for-178-homes-in-rathfarnham/

• Sale of Dublin Airport car park cleared for take-off at €70m: Former Quickpark has 6,122 long-stay spaces and is only privately-owned car park permitted to serve the airport  https://www.irishtimes.com/property/commercial-property/2022/07/06/sale-of-dublin-airport-car-park-cleared-for-take-off-at-70m/

• Site at Fingal Logistics Park seeking €6.44m: Zoned 23-acre holding being offered for sale at ‘competitive’ rate of €280,000 per acre  https://www.irishtimes.com/property/commercial-property/2022/07/06/lands-at-fingal-logistics-park-seeking-644m/

• Celbridge landholding with ‘future development potential’ for €5m: Landholding running to 235 acres adjoining Castletown House zoned for open space and amenity  https://www.irishtimes.com/property/commercial-property/2022/07/06/celbridge-lands-with-future-development-potential-for-5m/

• ‘Exciting’ step forward for €14m Kinsale school extension – The extension project follows another major expansion of the school in 2017. https://www.echolive.ie/corknews/arid-40912250.html

• Council halts build of OWN homes as families face being locked out for years  https://extra.ie/2022/07/02/news/council-halts-build-of-own-homes

• Huge housing development plans rejected by Galway council despite report recommendations: The plan mixed houses and apartments but it’s back to the drawing board  https://www.galwaybeo.ie/news/galway-news/huge-housing-development-plans-rejected-7291326

• High Court quashes planning permission extension for Apple’s abandoned Irish datacentre build:  After securing additional planning permission for the site of its now-abandoned datacentre build last year, Apple has seen the offer withdrawn by the High Court – which may complicate how it sells the land on https://www.computerweekly.com/news/252522336/High-Court-quashes-planning-permission-extension-for-Apples-abandoned-Irish-datacentre-build?amp=1

• An Bord Pleanála gives green light to construction of 202 houses and 182 apartments in Limerick: The homes will be built close to Limerick city. https://www.thejournal.ie/limerick-new-properties-planning-permission-5808093-Jul2022/

• Kildare land zoned for industrial and logistics for €4.72m: Site extending to 23.6 acres has prime location immediately adjacent to Penneys’ new distribution hub at Great Connell  https://www.irishtimes.com/property/commercial-property/2022/07/06/kildare-land-zoned-for-industrial-and-logistics-for-472m/

• Developer wants to build 49 more homes in Kildare town: Planning application  https://www.kildarenow.com/news/home/855293/developer-wants-to-build-49-more-homes-in-kildare-town.html

• Long derelict pub site on main street in Kildare comes under fire  https://www.leinsterleader.ie/news/home/855361/long-derelict-pub-site-on-main-street-in-kildare-comes-under-fire.html

• Johnny Ronan firm refused permission for 141 homes in Delgany: Community council and locals objected to apartment and house scheme on grounds of Stylebawn House in Co Wicklow village  https://www.irishtimes.com/business/2022/07/07/johnny-ronan-firm-refused-permission-for-141-homes-in-delgany/

• Major land sale at Dundalk North Business Park https://www.dundalkdemocrat.ie/news/home/856375/major-land-sale-at-dundalk-north-business-park.html

• Sligo councillors approve housing development near Neolithic monuments: Residents say project could exacerbate flooding issues in a nearby estate and cause traffic issues  https://www.irishtimes.com/ireland/housing-planning/2022/07/04/sligo-councillors-approve-housing-development-near-neolithic-monuments/

• Challenge to dezoning of developer’s €1 million land is dismissed; Developers Killegland Estates Ltd bought land for just over €1 million with residential zoning in place  https://www.irishtimes.com/business/2022/07/08/challenge-to-dezoning-of-developers-1-million-land-is-dismissed/

• Executive assures Louth cllrs of fire safety certification at Halliday Mills: Dundalk Municipal District July meeting  https://www.dundalkdemocrat.ie/news/home/856178/executive-assures-louth-cllrs-of-fire-safety-certification-at-halliday-mills.html

• Contractor pulls out of Leitrim job over inflation  https://www.leitrimobserver.ie/news/home/852348/contractor-pulls-out-of-leitrim-job-over-inflation.html

• Planning sought for 52 new homes in Tralee  https://www.radiokerry.ie/news/planning-sought-for-52-new-homes-in-tralee-288763

• Only nine social houses built under fast-track approval process in Kerry since 2018  https://www.radiokerry.ie/news/nine-social-houses-built-under-fast-track-approval-process-in-kerry-since-2018-288263

• International engineering firm to create 20 jobs in Dublin  https://www.siliconrepublic.com/jobs-news/norman-disney-young-engineering-jobs-dublin

• EDC has appointed Conor McGinn as Executive Director of its Dublin office. Conor is a Chartered M&E Design Engineer with over 18 years of working as an engineer in the construction industry in Ireland, UK and Canada.  https://irishbuildingmagazine.ie/2022/07/04/edc-appoints-conor-mcginn-as-executive-director/

• Cairn Homes reports strong momentum in “challenging environment”  https://m.independent.ie/business/irish/cairn-homes-reports-strong-momentum-in-challenging-environment-41814134.html Also: Cairn Homes shareholders to reap rewards as sales soar: Shareholders to get significant amounts of cash in dividends and share buybacks as home builder benefits from ongoing housing shortage in Ireland  https://www.businesspost.ie/news/cairn-homes-shareholders-to-reap-rewards-as-sales-soar/ 

• Ireland’s Louth County Council has invested in the country’s first “Pothole Pro” machine, made by JCB, in a bid to fix potholes permanently on its roads. https://www.globalconstructionreview.com/irish-county-invests-in-machine-that-fixes-potholes-in-eight-minutes/

• Project Eagle probe given extension after judge’s death: Government gives extension to new head of investigation into Nama’s sale of loan portfolio in North until February of next year  https://www.businesspost.ie/politics/project-eagle-probe-given-extension-after-judges-death/

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

• New €250m European tech fund launched by founders, for founders https://www.siliconrepublic.com/start-ups/plural-european-tech-fund

• ‘Mind-blowing’ – Nigeria offers Irish innovators lucrative opportunities for growth  https://m.independent.ie/business/irish/mind-blowing-nigeria-offers-irish-innovators-lucrative-opportunities-for-growth-41827317.html

• House bidders in Ireland have placed over €1bn of offers online on properties since February, per figures released from its new online offers tool, Offers by Daft, which allows interested buyers to place, and track offers on properties online.  https://m.independent.ie/news/house-bidders-place-over-1bn-of-offers-on-properties-on-daftie-41820018.html

• MMC Ireland: Solutions to the housing crisis exist – we just need to implement them: The government will only meet the country’s housing needs by engaging all key stakeholders and increasing targets for home building  https://www.businesspost.ie/property/comment-solutions-to-the-housing-crisis-exist-we-just-need-to-implement-them/

• How CEMEX’s venture arm is building the future of construction: By taking the long view, CEMEX Ventures is investing in the startups shaping the future of construction  https://sifted.eu/articles/cemex-venture-capital-future-of-construction/

• What AEC firms should look for in a cybersecurity partner: When looking for expert partners in cybersecurity, here are five key points to look for https://www.bdcnetwork.com/what-aec-firms-should-look-cybersecurity-partner

• Matterport, a real estate digital twin proptech, today announced acquiring real estate digital marketing solution company VHT Studios  https://finledger.com/articles/matterport-acquires-vht-studios/

• Italian design brand Lualdi has launched a doorway system called Ether, which combines an unobtrusive appearance with advanced technology to create a multifunctional smart device for the home or office.  https://www.dezeen.com/2022/07/08/lualdi-marco-piva-ether-customisable-door-system-high-tech-interface/

• Berlin-based MYNE scores €23.5 million to shake up the holiday home market with its co-ownership platform  https://www.eu-startups.com/2022/07/berlin-based-myne-scores-e23-5-million-to-shake-up-the-holiday-home-market-with-its-co-ownership-platform/

• UAE-based proptech houza, has raised $5.5 million in a pre-Series A round from Emirati real estate agencies.  https://www.wamda.com/2022/07/proptech-houza-raises-5-5-million-pre-series-round

• US Proptech Startup Snappt Raises $100 Million To Help Landlords Flag Fraudulent Rental Applications  https://dot.la/snappt-proptech-startup-2656957859.html

• BBVA partners with Fifth Wall Climate Fund to invest in technologies to decarbonize the real estate industry  https://www-bbva-com.cdn.ampproject.org/c/s/www.bbva.com/en/sustainability/bbva-partners-with-fifth-wall-climate-fund-to-invest-in-technologies-to-decarbonize-the-real-estate-industry/amp/

• HqO Acquires Global Workplace Employee Experience (EX) Measurement Leader, Leesman Index, Bringing 1M+ Data Points to Hundreds of Customers Worldwide  https://www.globenewswire.com/en/news-release/2022/06/14/2461795/0/en/HqO-Acquires-Global-Workplace-Employee-Experience-EX-Measurement-Leader-Leesman-Index-Bringing-1M-Data-Points-to-Hundreds-of-Customers-Worldwide.html

• The DMZ, GroundBreak Ventures launch new proptech incubator program https://betakit.com/the-dmz-groundbreak-ventures-launch-new-proptech-incubator-program/

• Habi raises $75 million in additional credit lines after closing $200 million Series C round  – Latin America Reports https://latinamericareports.com/habi-raises-75-million-in-additional-credit-lines-after-closing-200-million-series-c-round/6642/

• Brazilian proptech startup Loft, which was valued at $2.9B last year, lays off 380 employees  https://techcrunch.com/2022/07/05/brazilian-proptech-startup-loft-which-was-valued-at-2-9b-last-year-lays-off-380-employees/amp/

• BuildNext Raises Funding To Expand Its Virtual Reality Experience Centres Across India  https://inc42.com/buzz/buildnext-raises-funding-to-expand-its-virtual-reality-experience-centres-across-india/amp/

RESIDENTIAL PROPERTY NEWS (including PRS)

• Greystar raises fresh funds as residential rental investment surges past €30bn: Money floods into part of property market regarded as best protection against inflation  https://www.ft.com/content/936b03de-d489-40a6-99ee-5c25b5563490 Also: [INVESTMENT*] fund landlord plans to beat inflation with double-digit rent hikes for city dwellers https://m.independent.ie/irish-news/news/cuckoo-fund-landlord-plans-to-beat-inflation-with-double-digit-rent-hikes-for-city-dwellers-41823512.html  *incorrect terminology removed 

• Call for Government to tackle [INVESTMENT*] funds and close rent pressure zone loopholes: The calls come amid reports that a US property giant plans to push up rents over current rent pressure zone limits.  https://www.thejournal.ie/cuckoo-funds-rent-pressure-zones-5811672-Jul2022/?amp=1 *incorrect terminology removed Also: Housing minister will ‘assess’ Greystar plans to increase rental prices: Two per cent rap cap in rent pressure zones is ‘clear’, Darragh O’Brien said  https://www.irishtimes.com/ireland/housing-planning/2022/07/08/housing-minister-will-assess-greystar-plans-to-increase-rental-prices/ 

• Collapse in home ownership to create higher rates of poverty in retirement, study finds  https://www.breakingnews.ie/ireland/collapse-in-home-ownership-to-create-higher-rates-of-poverty-in-retirement-study-finds-1330525.html

• A new home shared equity scheme due to be launched tomorrow will be a “game-changer” in reversing the decline in homeownership, the Housing Minister has said. https://www.irishexaminer.com/news/politics/arid-40911695.html Also: Government’s €400m scheme for first-time buyers set to open: Coalition believes First Home scheme will fund up to 8,000 homes over four years  https://www.irishtimes.com/ireland/housing-planning/2022/07/07/flagship-scheme-for-first-time-buyers-set-to-open/

• Empty holiday homes stopping locals getting planning permission, says consultant  https://www.breakingnews.ie/ireland/empty-holiday-homes-stopping-locals-getting-planning-permission-says-consultant-1332143.html

• Half of councils have no full-time roles for tackling vacancy: Paschal Donohoe, the Minister for Finance, confirmed this week that owners of vacant homes are facing a new tax in the Budget https://www.businesspost.ie/politics/half-of-councils-have-no-full-time-roles-for-tackling-vacancy/

• Father Jack Ltd’ among firms given sanctions for breaching rent pressure zones: Just 35 sanctions against landlords in past 12 months https://m.independent.ie/business/personal-finance/property-mortgages/father-jack-ltd-among-firms-given-sanctions-for-breaching-rent-pressure-zones-41826434.html

• What €350k will get you in all four provinces  https://extra.ie/2022/07/09/property/350000-property-all-four-province

• New properties on the market in Co Cork, Co Sligo, Co Mayo and Dublin: Grainne Rothery’s pick of the properties available to buy in Ireland this week  https://www.thetimes.co.uk/article/new-properties-on-the-market-in-co-cork-co-sligo-co-mayo-and-dublin-b5qc35396

• Man facing €200,000 debt for building work can be sued personally, court rules: Businessman transferred his share of family home to wife  https://www.irishtimes.com/business/2022/07/08/man-facing-200000-debt-for-building-work-can-be-sued-personally-court-rules/

• No decision yet on idle apartments in Limerick town  https://www.limerickleader.ie/news/home/850371/no-decision-yet-on-idle-apartments-in-limerick-town.html

• House owners told to seek €22,000 rent for golf tournaments yet to receive an enquiry: Some property owners have even sought up to €55,000 for major events https://m.independent.ie/business/personal-finance/property-mortgages/house-owners-told-to-seek-22000-rent-for-golf-tournaments-yet-to-receive-an-enquiry-41826314.html

• Home Q&A: Is a home or garden office insured or insurable? We seek advice on insurance for a dedicated space in the home suited to performing a variety of self-employed or remote roles  https://www.irishexaminer.com/property/homeandgardens/arid-40911191.html

• Renovations That Won’t Increase The Value Of Your House: Read More:  https://www.housedigest.com/909511/renovations-that-wont-increase-the-value-of-your-house/

• An 18-bedroom estate with its own brandy is going on sale in Ireland for £6m: With its billiard room, embellished ceilings and salmon caught from a private stretch of river, is there a pile more posh than Longueville House in Co Cork?  https://www.thetimes.co.uk/article/an-18-bedroom-estate-with-its-own-brandy-is-going-on-sale-in-ireland-for-6m-8b7xsjdch

COMMERCIAL PROPERTY NEWS

• Record first half sees €3.2bn in property deals, led by Hibernia Reit sale: Commercial real estate continues to lure investors, with office leasing returning to pre-pandemic levels https://www.irishtimes.com/business/2022/07/06/hibernia-sale-drives-record-32bn-property-deals/

• Brexit impact is now reshaping Dublin Port permanently as traffic patterns shift: The port will reach its maximum capacity of 77 million tonnes throughput per annum by 2040  https://m.independent.ie/business/commercial-property/brexit-impact-is-now-reshaping-dublin-port-permanently-as-traffic-patterns-shift-41819754.html

• Bank of Ireland launches 11 hybrid working hubs  https://www.finextra.com/newsarticle/40571/bank-of-ireland-launches-11-hybrid-working-hubs

• Three new nursing homes opened by Silver Stream Healthcare following €65m investment: The move will double the group’s capacity to 750 beds and increase the number of homes it operates to 11  https://www.businesspost.ie/news/three-new-nursing-homes-opened-by-silver-stream-healthcare-following-e65m-investment/

• Dubray Books eyes nationwide expansion after recent Dublin and Cork openings: The bookseller, which is owned by Eason Ireland, has a network of 11 stores with nine based in the capital  https://www.businesspost.ie/news/dubray-books-eyes-nationwide-expansion-after-recent-dublin-and-cork-openings/

• Deloitte seeks new Dublin office space with more room: Professional services company says hybrid working is here to stay  https://www.irishtimes.com/business/2022/07/09/deloitte-seeks-new-dublin-office-space-with-more-room/

• Skechers secures a foothold in the heart of Grafton Street: US footwear giant to pay €900,000 in rent for former flagship premises of Tommy Hilfiger  https://www.irishtimes.com/property/commercial-property/2022/07/06/skechers-secures-a-foothold-in-the-heart-of-grafton-street/

• Dublin city centre office suite comes to market: 1 George’s Quay Plaza in Dublin 2 has been fully refurbished to new CAT A standard throughout, with selling agent JLL quoting €57.50 per square foot  https://www.businesspost.ie/property/dublin-city-centre-office-suite-comes-to-market/

• Mike Ashley’s Fraser Group completes €18.25m deal for Corrib Shopping Centre: Billionaire’s acquisition of Galway scheme follows Sports Direct’s move into former Debenhams unit  https://www.irishtimes.com/property/commercial-property/2022/07/06/mike-ashleys-fraser-group-completes-1825m-deal-for-corrib-shopping-centre/

• Fastway Couriers signs for new distribution hub at Greenogue Logistics Park: Palm Capital now nearing completion of Building 2 at Dublin scheme, which extends to 287,120sq ft of grade-A space  https://www.irishtimes.com/property/commercial-property/2022/07/06/fastway-couriers-signs-for-new-distribution-hub-at-greenogue-logistics-park/

• Dublin 11 warehouse and office unit has guide price of €3m: Unit 5A, Stadium Business Park, is alternatively available to let for a three-year term for €185,000 per annum  https://www.irishtimes.com/property/commercial-property/2022/07/06/dublin-11-warehouse-and-office-unit-has-guide-price-of-3m/

• Legendary Phibsboro shop reopens doors to delight of locals: The shop has affectionately been described as “the Tardis of Dublin 7” due to its wide array of products ranging from bulbs to colanders  https://www.dublinlive.ie/news/legendary-phibsboro-shop-reopens-doors-24441102

• City Council to seek approval to relocate to Crown Square in Mervue https://galwaybayfm.ie/galway-bay-fm-news-desk/city-council-to-seek-approval-to-relocate-to-crown-square-in-mervue/ (pictured)

• Homebase brings down the shutters in Limerick  https://www.limerickpost.ie/2022/07/02/homebase-brings-down-the-shutters-in-limerick/

• IDA-backed company confirms expansion of Limerick presence  https://www.limerickleader.ie/news/home/849093/ida-backed-company-confirms-expansion-of-limerick-presence.html

• Killymeal House in Belfast sold for double price paid to Nama ten years ago https://www.irishnews.com/business/2022/07/05/news/killymeal-house-in-belfast-sold-for-double-price-paid-to-nama-ten-years-ago-2763281/

INTERNATIONAL PROPERTY NEWS

• UK house prices rise at fastest rate in 18 years: Typical home goes for record £294,845 as property shortage drives up costs for buyers  https://www.ft.com/content/0fab666e-86df-4094-b523-60b8cea62c5c

• Dashboard of decline: seven charts that explain Britain’s economic crisis: Multilayered panorama of London city skyline – The UK looks set for a recession and a longer battle with inflation than many of its neighbours. This is why  https://www.theguardian.com/business/2022/jul/02/dashboard-of-decline-seven-charts-that-explain-britains-economic-crisis

• UK ‘Instruction to offer’ timelines halve during pandemic, latest research reveals  https://thenegotiator.co.uk/instruction-to-offer-halves-during-pandemic-latest-research-reveals/

• Riba House of the Year: architects are going back to the future: Sleek glass boxes are out — the 2022 longlist was inspired by everything from mock-Tudor to farm buildings  https://www.thetimes.co.uk/article/riba-house-of-the-year-architects-inspired-by-the-humble-farm-building-xj8s5h3rn

• Sale of £1bn Oaktree-backed co-living platform to begin: The business was founded by former Blackstone, the Collective and WeWork executives  https://reactnews.com/article/sale-of-1bn-oaktree-backed-co-living-platform-to-begin/

• UK – The cost of construction materials rose by almost a third in May compared to the previous year  https://www.newcivilengineer.com/latest/construction-materials-inflation-continues-to-soar-government-figures-reveal-07-07-2022/

• Eight UK contractors trailblaze concrete carbon reduction plan  https://www.constructionenquirer.com/2022/07/05/eight-contractors-trailblaze-concrete-carbon-reduction-plan/

• M&E contractor Kershaw went down owing subbies £10m  https://www.constructionenquirer.com/2022/07/06/me-contractor-kershaw-went-down-owing-subbies-10m/

• Dramatic video shows construction worker dangling from crane over city: A worker became entangled in the line after he hooked the load on Tuesday  https://www.irishmirror.ie/news/world-news/dramatic-video-shows-construction-worker-27425094.amp

• In Nova Scotia, investment property owners look forward to the end of rent control  https://www.saltwire.com/atlantic-canada/business/in-nova-scotia-investment-property-owners-look-forward-to-the-end-of-rent-control-100750717/

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/