Home Property Round-up Sunday Property Round-Up October 9th, 2022

Property Round-up

Sunday Property Round-Up October 9th, 2022

October 9, 2022

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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.

‘Pervasive fear’ drove up house prices, says Nobel Prize winning economist: Emotional security that comes with buying a house in uncertain times lifted the market, claims Robert Shiller https://m.independent.ie/business/personal-finance/property-mortgages/pervasive-fear-drove-up-house-prices-says-nobel-prize-winning-economist-42051408.html

European markets decline as fears of recession intensify: Wall Street stocks also trade lower, with tech stocks among the fallers https://www.irishtimes.com/business/2022/10/05/european-markets-decline-as-fears-of-recession-intensify/

Could interest rate hikes cause a property price crash? While Irish lenders have been slow to follow the ECB’s lead on hiking rates, common sense would suggest it is only a matter of time until they do https://www.irishtimes.com/property/residential/2022/10/04/could-interest-rate-hikes-cause-a-property-price-crash/

‘Ireland is still an extremely attractive place to do business’ – Laura Trimble, the new chief executive of HSBC Ireland, talks about the challenging rental situation in Dublin, growing HSBC’s mid-market business and sustainability plans for the future https://www.businesspost.ie/news-focus/ireland-is-still-an-extremely-attractive-place-to-do-business-laura-trimble-hsbc/

Want to fix affordable homes problem? We need an ‘Elon O’Leary’ https://m.independent.ie/opinion/comment/want-to-fix-affordable-homes-problem-we-need-an-elon-oleary-42051200.html

Energy crisis adds €60,000 to price of best insulated homes: Price gap emerging between between houses with BER rating of B and homes in C category and below https://m.independent.ie/business/personal-finance/latest-news/energy-crisis-adds-60000-to-price-of-best-insulated-homes-42034823.html

Winter eviction ban under consideration amid cost-of-living crisis: EirGrid says homes could be most exposed to State’s electricity shortage over winter due to demand https://www.irishtimes.com/ireland/2022/10/07/plans-for-winter-ban-on-evictions-amid-cost-of-living-pressures/ Housing minister keeps ‘all options’ open on winter eviction ban: Darragh O’Brien says he still has concerns about the possible impact of a veto on property rights ‘which are constitutionally protected’ https://www.businesspost.ie/politics/housing-minister-keeps-all-options-open-on-winter-eviction-ban/

Government quango meant to help build family homes financing [*INSTITUTIONAL INVESTMENT] fund https://extra.ie/2022/10/02/news/irish-news/government-quango-meant-to-help-build-family-homes-financing-cuckoo-fund *Incorrect terminology removed

An Bord Pleanála staff told allegations and media commentary had been ‘disruptive and disquieting’ https://www.irishexaminer.com/news/arid-40973957.html

Stark research findings into residential land supply: In 2006, we were building 16 homes per 1000 people in Dublin. Today we are building only 4: Research into residential land supply underlines why we have such a housing crisis https://www.newstalk.com/podcasts/breakfast-business/stark-research-findings-into-residential-land-supply-in-ireland Also: National Planning Framework Will Exacerbate Housing Crisis https://businessplus.ie/news/savills-national-planning-framework/

An Bord Pleanála decision bodies to be overhauled in bid to restore public confidence: Measures follow resignation of the board’s deputy chairman Paul Hyde amid inquiries into alleged conflicts of interest https://www.irishtimes.com/ireland/social-affairs/2022/10/04/an-bord-pleanala-decision-bodies-to-be-overhauled-in-bid-to-restore-public-confidence/ Also: Report says An Bord Pleanála in need of ‘urgent reform’ as government adopts recommendations: The report includes 11 recommendations aimed at restoring public confidence in the Board and ensuring effectiveness in the planning system. https://www.thejournal.ie/action-plan-an-bord-pleanala-cabinet-5883373-Oct2022/

An Bord Pleanála leadership to remain unchanged despite multiple allegations https://www.breakingnews.ie/amp/ireland/irelands-planning-appeal-body-needs-ethics-and-legal-units-report-says-1372551.html

Local authorities criticised by junior minister over failure to buy unoccupied Garda stations for housing: ‘You wouldn’t think there’s a housing crisis in the country from the response of some of the local authorities’ https://www.irishtimes.com/politics/oireachtas/2022/10/05/minister-of-state-criticises-local-authorities-over-failure-to-buy-unoccupied-garda-stations-for-housing/

Excluding investors from refurbishment grants a missed opportunity: With ‘acres of upstairs space in the city lying vacant’, encouraging more investors to refurbish old properties and convert them into flats would help address shortage of accommodation https://www.businesspost.ie/property/excluding-investors-from-refurbishment-grants-a-missed-opportunity/

Cardinal Capital: ‘International capital is retreating from Ireland. We need strong local funding’ https://www.businesspost.ie/news-focus/cardinal-capital-international-capital-is-retreating-from-ireland-we-need-strong-local-funding/
Ingka Investments to invest €100m in Dublin Social Housing Projects https://www.rte.ie/news/business/2022/1003/1326871-ingka-to-invest-100m-in-dublin-social-housing-projects/ Also: “If there are other investments outside social housing in Ireland, that is something we’re always curious and open for”: The multinational behind Ikea’s retail stores has announced a €100m investment in Dublin housing, under a new funding model that could be replicated. Will the €30bn managed in Ireland by the Ingka Group trickle into the domestic economy? https://thecurrency.news/articles/97870/if-there-are-other-investments-outside-social-housing-in-ireland-that-is-something-were-always-curious-and-open-for/

Trickle of corporates into housing is more a curiosity than a solution https://m.independent.ie/business/irish/trickle-of-corporates-into-housing-is-more-a-curiosity-than-a-solution-42049213.html

Some UK property funds limit withdrawals: Moves come as pension funds and other investors rebalance their portfolios into liquid assets such as cash after months of market volatility left them overexposed to commercial property https://www.irishexaminer.com/business/economy/arid-40975532.html

‘Stick to your principles and don’t be afraid to defend them’ – Peter Horgan, Grayling Properties: The managing director of Grayling Properties believes in waiting for the right investment opportunities and avoiding the pressure to follow the crowd https://www.businesspost.ie/post-plus/stick-to-your-principles-and-dont-be-afraid-to-defend-them-peter-horgan-grayling-properties/

Purpose built: 50 years of Irish design: Designers in Ireland are quietly but confidently making their mark, both at home and abroad. https://www.businesspost.ie/life-arts/purpose-built-50-years-of-irish-design/

With the metaverse opportunity topping $1 trillion, it’s time for brands to make the leap https://venturebeat-com.cdn.ampproject.org/c/s/venturebeat.com/metaverse/with-the-metaverse-opportunity-topping-1-trillion-its-time-for-brands-to-make-the-leap%EF%BF%BC/amp/

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

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Listen back: https://ipropertyradio.com

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

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

Housing Minister says planning applications should not be decided by courts: Darragh O’Brien also said that people need to stop objecting to planning applications for housing developments. https://www.thejournal.ie/housing-minister-courts-planning-applications-housing-5886262-Oct2022/

College Green car lanes to close as part of plan to remove city traffic: Move is part of three-year plan to free Dublin city centre of traffic, and similar plans in all urban areas https://www.businesspost.ie/news/college-green-car-lanes-to-close-as-part-of-plan-to-remove-city-traffic/

‘Urban explorer’ speaks about exploring Ireland’s abandoned buildings https://extra.ie/2022/10/08/news/real-life/urban-explorer-abandoned-ireland

48 hours in Dublin, as explored anew by a local https://www.rte.ie/lifestyle/travel/2022/1005/1327317-48-hours-in-dublin-as-explored-anew-by-a-local/

WATERSPORTS MAY SOON BE COMING TO THE GRAND CANAL, DCC SAYS https://dublinpeople.com/news/southside/articles/2022/10/07/watersports-may-soon-be-coming-to-the-grand-canal-dcc-says/?amp

Dublin’s original ‘east wall’ dating from 1720s uncovered by port authorities: Construction work discoveries by Dublin Port including dock workers’ artefacts, Parnell-era political pipes and old pottery will go on display https://www.irishtimes.com/ireland/dublin/2022/10/05/dublins-original-east-wall-dating-from-1720s-uncovered-by-port-authorities/

‘This house is open’: Man cuts ribbon to family home donated to Saint John of God so he can continue living there: House in Glenageary will provide community living for Ryan O’Hare and three others with intellectual disability https://www.irishtimes.com/ireland/2022/10/04/this-house-is-open-ryan-ohare-cuts-ribbon-to-his-family-home-which-was-donated-to-st-john-of-god-so-that-he-could-continue-living-there/

Stunning new murals coming to the streets of Cork as artists work on masterpieces across the city: It’s the group’s third year decorating the walls in the city https://www.corkbeo.ie/news/local-news/stunning-new-murals-coming-streets-25136899

No wind farm for Cork’s Gougane Barra as An Bórd Pleanála concedes to Gaeltacht community: Decision means Cork County Council’s refusal of planning application for wind farm stands https://m.independent.ie/regionals/corkman/news/no-wind-farm-for-corks-gougane-barra-as-an-bord-pleanala-concedes-to-gaeltacht-community-42044700.html

A handful of derelict buildings are spoiling the image of a thriving Laois village that is up for a national Pride of Place award. https://www.leinsterexpress.ie/news/local-news/930114/derelict-houses-taking-from-fantastic-laois-village-up-for-award.html

Councillors cannot be allowed thwart the Council’s obligation to house Travellers https://www.advertiser.ie/galway/article/131922/councillors-cannot-be-allowed-thwart-the-councils-obligation-to-house-travellers

Sod turned on exciting Killybegs 2040 Town Centre regeneration project: An iconic element of the project will see the dramatic redevelopment of Island House https://www.donegallive.ie/news/west-donegal/931378/sod-turned-on-exciting-killybegs-2040-town-centre-regeneration-project.html

Mobile homes: Welcome to Ireland’s original tiny houses – Mobile homes are part of our residential landscape. We follow their itinerary as they motor into the future https://www.irishexaminer.com/property/homeandgardens/arid-40975892.html

CONSTRUCTION & DEVELOPMENT NEWS

The new levy on concrete blocks has united opposition members and backbenchers in revolt https://www.rte.ie/news/ireland/2022/1007/1327776-analysis-political/ Also: Concrete levy will have greater impact on new-build costs than previously thought, fresh estimates show: Department of Finance says when ‘soft costs’ such as finance and fees are included, the impact is higher https://www.irishtimes.com/ireland/housing-planning/2022/10/08/fresh-government-estimates-show-higher-cost-of-concrete-levy-on-new-builds/

Building sector has a moral duty to pay for mica scandal https://www.thetimes.co.uk/article/building-sector-has-a-moral-duty-to-pay-for-mica-scandal-hqqcqqzp7

Minister McGrath’s speech at CIF Annual Conference 2022 in Croke Park https://www.gov.ie/en/speech/aa4f5-minister-mcgraths-speech-at-cif-annual-conference-2022-croke-park/

Roadmap to decarbonise Ireland’s built environment launched by Irish Green Building Council https://irishbuildingmagazine.ie/2022/10/07/roadmap-to-decarbonise-irelands-built-environment-launched-by-irish-green-building-council/

An Bord Pleanála denies delaying large-scale planning decisions until law changes https://www.irishexaminer.com/news/arid-40977755.html

More land needs to be zoned for house building, says O’Brien https://www.breakingnews.ie/amp/ireland/more-land-needs-to-be-zoned-for-house-building-says-housing-minister-1372649.html

Of all insolvencies recorded over the past year, one in eight were construction related. https://m.independent.ie/business/irish/rate-of-insolvencies-are-set-to-rise-amid-significant-pressure-on-irish-businesses-according-to-new-report-42034317.html

Government drops third attempt to set electrical contractors’ pay: High Court confirms it will quash bid when it comes into court, following proceedings taken by industry representative body https://www.irishtimes.com/business/2022/10/07/government-drops-third-attempt-to-set-electrical-contractors-pay/

Controversial €1.3bn Tipperary pipe project to supply Dublin is adopted by Irish Water https://www.tipperarylive.ie/news/home/930876/controversial-1-3bn-tipperary-pipe-project-to-supply-dublin-is-adopted-by-irish-water.html

€70m concrete firm says mica levy could force it to cut hundreds of jobs: Cavan business O’Reilly Concrete fears it could lose 70 per cent of its 600-strong workforce if controversial 10 per cent levy is imposed next April https://www.businesspost.ie/news/e70m-concrete-firm-says-mica-levy-could-force-it-to-cut-hundreds-of-jobs/

Ministers Foley and Ryan launch Schools Energy Retrofit Pathfinder Programme for 2023 – 2024 https://www.gov.ie/en/press-release/769d9-ministers-foley-and-ryan-launch-schools-energy-retrofit-pathfinder-programme-for-2023-2024/

Outrageously wrong determination – what fines might the company have incurred if this welder had caused an accident on site? ‘A welder in Louth has been awarded €15,000 for unfair dismissal, despite admitting to drinking before arriving to work’ https://www.joe.ie/news/welder-drinking-756204

Griffith College Launches New Courses In Procurement And Supply Chain Management https://businessplus.ie/promoted/procurement-and-supply-chain-management/

New National Children’s Hospital to cost more than €1.43 billion https://www.breakingnews.ie/amp/ireland/new-national-childrens-hospital-to-cost-more-than-1-43-billion-euro-1373015.html

The build-to-rent-sector in Dublin has suffered a heavy blow as €400 million worth of deals on two landmark apartment projects have unravelled in recent months. The German property behemoth Commerz Real has shelved a €200 million investment in the developer Joe O’Reilly’s 30-storey apartment building at Parkgate Street on the north side of the Liffey. https://www.thetimes.co.uk/article/investors-pull-out-of-build-to-rent-developments-frvcmdbzv

Developer warns house price drop would make new-builds unviable: Comments by O’Flynn Group director follow ESRI assessment that Irish homes are overvalued by 7 per cent https://www.businesspost.ie/news/developer-warns-house-price-drop-would-make-new-builds-unviable/

Johnny Ronan and Henderson Park vie for €120m Citi HQ: Developer Shane Whelan’s Westridge Real Estate also in contention for bank’s offices at 1 North Wall Quay https://www.irishtimes.com/property/commercial-property/2022/10/05/johnny-ronan-and-henderson-park-vie-for-120m-citi-hq/

Dublin City Council lodges planning application for 578 homes in Inchicore https://www.breakingnews.ie/amp/ireland/dublin-city-council-lodge-planning-application-for-578-homes-in-inchicore-1373521.html

Developer Gannon accepts offer on Dublin Airport car park: Sale follows prolonged legal dispute with operator ParkFly over tenancy of €70m site https://www.businesspost.ie/news/developer-gannon-accepts-offer-on-dublin-airport-car-park/

Honda’s landmark Dublin headquarter premises guiding at €4.5m: Relocation of Universal Honda Ltd within Citywest Business Campus presents opportunity for occupier or developer https://www.irishtimes.com/property/commercial-property/2022/10/05/hondas-landmark-dublin-headquarter-premises-guiding-at-45m/

243 new homes being built in Cork as part of new social and affordable housing development: The new housing developments will be used for social and cost rental homes across Cork https://www.corkbeo.ie/news/local-news/243-new-homes-being-built-25173228

Appeal against plans for almost 300 homes in Cork as locals raise ‘grave concerns’: It is one of three developments where planning permission has recently been sought in the locality of Water Rock https://www.irishexaminer.com/news/munster/arid-40976369.html

Council refuse application to build over 100 homes at Cork city site – The group may appeal the decision with An Bord Pleanala https://www.corkbeo.ie/news/property/council-refuse-application-over-100-25183796

New wastewater treatment plants to pave the way for a housing boost across the Cork Mid-West region: The newly commissioned wastewater treatment plant in Dripsey.https://m.independent.ie/regionals/corkman/news/new-wastewater-treatment-plants-to-pave-the-way-for-a-housing-boost-across-the-cork-mid-west-region-42042300.html

Modular homes to be built for Ukrainian families in Mahon: It is understood that the Mahon site is in the Ballinure area, and will house approximately 250 people https://www.echolive.ie/corknews/arid-40976864.html

34 new social houses for Bantry https://www.corkindependent.com/2022/10/05/34-new-social-houses-for-bantry/

Large Midleton housing plan appealed to An Bord Pleanála: Cork County Council granted conditional permission on September 13 this year https://www.echolive.ie/corknews/arid-40978682.html

Carrigtwohill retail outlet centre ‘not good’ for Cork City businesses, claims CBA: Mr Herlihy said the proposed development which is due to be located off the N25 between Glounthaune and Carrigtwohill, would not be good for retailers in the city centre https://www.echolive.ie/corknews/arid-40978703.html

Apple granted conditional permission for expansion at Cork campus https://www.echolive.ie/corknews/arid-40974911.html

Thirty homes go on sale in first building phase by O’Malley Construction https://connachttribune.ie/thirty-homes-go-on-sale-in-first-building-phase-by-omalley-construction/amp/

Objections to proposed housing development in Tuam town https://galwaybayfm.ie/galway-bay-fm-news-desk/objections-to-proposed-housing-development-in-tuam-town/

Affordable housing plan for former gasworks site in Limerick https://www.limerickleader.ie/news/home/928180/affordable-housing-plan-for-former-gasworks-site-in-limerick.html

Court quashes permission for student accommodation in Limerick over An Bord Pleanála delay https://www.breakingnews.ie/amp/ireland/court-quashes-permission-for-student-accommodation-in-limerick-over-an-bord-pleanala-delay-1373187.html

Planning granted for 30 new homes in Tralee https://www.radiokerry.ie/news/planning-granted-for-30-new-homes-in-tralee-299929

Plans to build 12 apartments on site of disused Tralee shop https://www.radiokerry.ie/news/plans-to-build-12-apartments-on-site-of-disused-tralee-shop-299991

Respond Has 99 New Social Homes Under Construction In Westmeath https://www.midlands103.com/news/midlands-news/respond-has-99-new-social-homes-under-construction-in-westmeath/

Mullingar Set To Get First ‘Affordable’ Housing Development In 10 Years https://www.midlands103.com/news/midlands-news/mullingar-set-to-get-first-affordable-housing-development-in-10-years/

Major Longford employer lodges planning permission for significant expansion https://www.shannonside.ie/news/major-longford-employer-lodges-planning-permission-for-significant-expansion-212114

No rest for the committed in world of golf architecture https://m.independent.ie/sport/golf/no-rest-for-the-committed-in-world-of-golf-architecture-42051572.html

British private equity group buys building materials firm Etag for €8.2 million: British private equity and sustainable infrastructure investment firm completes its first acquisition in Ireland https://www.businesspost.ie/news/british-private-equity-group-buys-building-materials-firm-etag-for-e8-2-million/

Arcadis agrees deal for Ireland’s DPS Group https://www.rte.ie/news/business/2022/1005/1327259-arcadis-agrees-deal-for-irelands-dps-group/ Also; The sale of Irish engineering and construction consultancy group DPS for €232m in cash will see massive windfalls for CEO Frank Keogh and chief financial officer Eddie Kent. https://m.independent.ie/business/world/dps-duo-set-for-biggest-share-of-232m-cash-sale-42041998.html

Founded in Kingscourt in 1936, Saint Gobain Construction Products Ireland Ltd, formerly known as Gypsum Industries, is continuing to play its part in the community with its latest initiatives under its Community Outreach Programme. https://www.anglocelt.ie/2022/10/07/saint-gobain-giving-back-to-the-community/

Bam’s UK and Ireland businesses have set a target to achieve net zero carbon emissions in their direct operations by 2026. The company said this went beyond Royal Bam Group’s target to reduce its direct emissions by 80 per cent by 2026 from 2015 levels https://www.constructionnews.co.uk/sustainability/bam-targets-fast-reduction-of-net-zero-emissions-03-10-2022/

Obelisk again listed among Ireland’s Best Managed Companies https://www.anglocelt.ie/2022/10/03/obelisk-again-listed-among-irelands-best-managed-companies/

Leitrim building company win platinum at Best Managed Companies Awards https://www.shannonside.ie/news/king-and-moffat-building-services-win-platinum-at-best-managed-companies-awards-211949

Bridgend headquartered construction materials distributor Brickability Group has expanded with a £11.6m acquisition. https://www.business-live.co.uk/enterprise/construction-materials-firms-brickability-expands-25161747.amp

Council decision on development plans for historic Quintin Castle overturned https://m.independent.ie/irish-news/council-decision-on-development-plans-for-historic-quintin-castle-overturned-42051615.html

Premier Guarantee’s Tall Buildings 2022 report UK reveals construction trends and risks in taller buildings https://www.pbctoday.co.uk/news/building-control-news/premier-guarantee-tall-buildings-2022-report/116420/

MMC Ireland founding members: https://mmcireland.ie

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

The drive for sustainable development is ‘not going away’: The ESG Competent Boards Programme teaches business leaders how to build an effective ESG strategy that mitigates risks and recognises opportunities while continuing to grow the business https://www.businesspost.ie/commercial-reports/the-drive-for-sustainable-development-is-not-going-away/ Also, How companies are rising to the ESG challenge: Sustainability is firmly on the agenda for all business leaders, as industries prepare for a greener and more equitable future https://www.businesspost.ie/commercial-reports/how-companies-are-rising-to-the-esg-challenge/

Proptech Ireland: Ireland’s CONSTRUCTION and REAL ESTATE ESG technologies resource hub. Confused about how and where to start on your ESG journey? Contact us 👉https://prop-tech.ie

Dermot Desmond owed more than €30m by loss-making eSpatial Solutions: Dublin-headquartered geomapping business has racked up losses of €40.8m https://www.irishtimes.com/business/2022/10/05/dermot-desmond-owed-more-than-30m-by-loss-making-espatial-solutions/

Improving properties’ green credentials is in the interests of both landlord and tenant: As green ESG targets become more widespread, the need for sustainable performance has begun to trickle down from class-A new-builds to older offices https://www.irishtimes.com/property/commercial-property/2022/09/24/improving-properties-green-credentials-is-in-the-interests-of-both-landlord-and-tenant/

Enterprise Ireland launches new investment offer for early-stage start-ups: Up to €100,000 per business available under new ‘Pre-Seed Start Fund’ https://www.enterprise-ireland.com/en/News/PressReleases/2022-Press-Releases/Enterprise-Ireland-launches-new-investment-offer-for-early-stage-start-ups.html

Same country, different planet: Why Ireland’s tech multinationals and start-ups need to get closer: In their American home, the big tech firms present here are used to skilled staff working and investing in early-stage companies throughout their career. This hasn’t happened much in Ireland yet, but there are “super early signs” that change may be coming. Same country, different planet: Why Ireland’s tech multinationals and start-ups need to get closer – The Currency : The Currency https://thecurrency.news/articles/96910/same-country-different-planet-w

The SpaceOS platform sets out to create smart workplaces as the world wises up to the future of hybrid, flexible and sustainable work. https://www.siliconrepublic.com/start-ups/spaceos-proptech-smart-workplaces-dublin

Google leads $12m raise for Belfast-based VR platform SideQuest: SideQuest has developed an alternative app store for the Oculus Quest VR headset which serves as a content aggregator and developer testing platform https://www.businesspost.ie/tech/google-leads-12m-raise-for-belfast-based-vr-platform-sidequest/

How poor spatial data raises financial and legal worries https://placetech.net/analysis/how-poor-spatial-data-puts/

The biggest opportunity in climate tech — in numbers: Energy and electrification, carbon removal and sequestration, and supply chain traceability are all areas to watch https://sifted.eu/articles/climate-tech-investment-data-brnd/

Short-term solutions on how to use smart home tech to save energy and money in Europe https://www.home-assistant.io/blog/2022/10/03/short-term-solutions-save-energy-and-money-europe/

Large quantities, fast methods needed for hempcrete to meet promise in housing https://hemptoday.net/large-quantities-fast-methods-needed-for-hempcrete-to-meet-promise-in-housing/amp/

Stockholm-based H2 Green Steel secured an incredible €190 million in order to produce green steel, which involves the use of less carbon dioxide emissions compared to traditional steelmaking https://www.eu-startups.com/2022/10/greentech-report-milestones-funding-and-important-updates-in-september-2022/

Modular Construction Technology Comes Far and Fast During the Pandemic https://commercialobserver.com/2022/09/modular-construction-technology-after-covid/

CLIMATE & ENVIRONMENT

University of Galway looks to unearth the potential of geothermal heat https://www.siliconrepublic.com/innovation/university-galway-geothermal-heat-geofit

Kildare battery storage plant gets green light despite objections https://www.rte.ie/news/business/2022/1003/1326904-battery-plant-gets-green-light-despite-objections/

Green Updates: EV Demand Accelerates Ahead Of Charging Capacity https://www.forbes.com/uk/advisor/personal-finance/2022/10/05/going-green-news/

RESIDENTIAL PROPERTY NEWS (including PRS)

Residential property market may be overvalued by 7%, ESRI warns https://www.rte.ie/news/business/2022/1005/1327348-residential-property-market-may-be-overvalued-by-7/

Signs of slowdown in house prices across eurozone as interest rates rise: Latest Eurostat figures show house price inflation in the eurozone slowed in the second quarter for the first time in two years https://www.irishexaminer.com/business/economy/arid-40978490.html

Funds told that council will not lease more homes in 33 north Dublin estates: Estate agents and property investors informed that 33 estates in north Dublin are ‘socially satisfied’ and therefore not eligible https://www.businesspost.ie/news/funds-told-that-council-will-not-lease-more-homes-in-33-north-dublin-estates/
The rate of increase in asking prices for houses slowed during the third quarter, new data from property listings website MyHome.ie shows. Asking prices in Q3 fell 1.3%, bringing the annual rate of inflation back to 7.8%. https://www.irishtimes.com/business/2022/10/03/housing-market-beginning-to-cool-off-myhomeie-says/

Brokers want eight-week period for house hunters to draw down mortgages: Warning that tight deadlines before rates go up will jeopardise mortgage approval and house sales. https://www.irishexaminer.com/business/economy/arid-40977299.html

‘Disgraceful behaviour’ – Anger as huge rate rise by Finance Ireland means buying plans are scuppered for many https://m.independent.ie/business/personal-finance/property-mortgages/disgraceful-behaviour-anger-as-huge-rate-rise-by-finance-ireland-means-buying-plans-are-scuppered-for-many-42044072.html

Mortgage customers ‘frustrated’ over wait times to switch lenders amid interest rate hikes: There has been a significant increase in applications over the last 12 months, brokers have said. https://www.thejournal.ie/mortgage-switching-delays-5885888-Oct2022/

It’s not just the Bank of Mum and Dad giving househunters a leg up on the property market – it’s the Bank of Granny and Granddad. https://m.independent.ie/business/irish/bank-of-granny-and-granddad-is-open-for-all-your-housing-needs-42049388.html

Extract: ‘Governments made decisions that led to your housing situation – you are not to blame’: Housing expert Dr Rory Hearne shares an extract from his new book ”Gaffs’ released this week https://www.thejournal.ie/readme/housing-crisis-ireland-4-5883612-Oct2022/

Buying your first home? Here are 5 things to consider before you start house-hunting https://www.joe.ie/amp/life-style/buying-your-first-home-5-things-consider-755795

All of a sudden you’re completely priced out of buying a property’: First-time buyers are particularly hard hit by interest rate rises — with some facing an increase of €500 in monthly repayments https://www.thetimes.co.uk/article/all-of-a-sudden-youre-completely-priced-out-of-buying-a-property-dk8060ddt

Dublin city councillors reject Keegan’s call to increase property tax: City councillors vote to retain 2022 rates despite warnings of €50 million funding gap https://www.irishtimes.com/ireland/dublin/2022/10/03/dublin-city-councillors-reject-keegans-call-to-increase-property-tax/

Deloitte Warns Ireland’s Budget May Have Been Too Conservative To Turn Around Housing Crisis https://www.bisnow.com/dublin/news/affordable-housing/deloitte-warns-budget-may-have-been-too-conservative-to-turnaround-housing-crisis-115632

British peer loses appeal over Kilkenny mansion rent arrears: Court of Appeal dismissed an appeal by Lord George Magan against a €571,000 judgment against him https://www.irishtimes.com/crime-law/courts/2022/10/06/british-peer-loses-appeal-over-kilkenny-mansion-rent-arrears/

Longford property prices 8% higher than in 2021 https://www.longfordleader.ie/news/longfordleader/924721/longford-property-prices-8-higher-than-in-2021.html

Over 9% increase in house prices in Kerry https://www.radiokerry.ie/amp/news/over-9-increase-in-house-prices-in-kerry-299710

Looking for a home in Donegal? ‘You’re getting a lot more for your money compared with other parts of Ireland’ What’s the Going Rate? From new homes to fixer-uppers, a county-by-county guide to what’s new on the market https://www.irishtimes.com/property/residential/2022/10/03/looking-for-a-home-in-donegal-youre-getting-a-lot-more-for-your-money-compared-with-other-parts-of-ireland/But, Donegal house prices rise most of any county in Republic of Ireland https://highlandradio.com/2022/10/03/donegal-house-prices-rise-most-of-any-county-in-republic-of-ireland/

Why radiators are no longer an afterthought in your new build or renovation: Casting an eye for the autumn/winter models that radiate style https://www.irishexaminer.com/property/homeandgardens/arid-40974047.html

€4.5m-worth of luxury for man and beast: Multiple-champion-producing equestrian farm on 218ac with 3 houses: 41 Group One winners were bred at Offaly’s Lumville Farm, one of the Derrinstown Stud farms owned by the late Sheikh Hamdan bin Rashid Al Maktoum https://m.independent.ie/business/farming/farm-property/leinster-farm-sales/45m-worth-of-luxury-for-man-and-beast-multiple-champion-producing-equestrian-farm-on-218ac-with-three-houses-42035123.html

Q&A: Can I put a mobile home on my land without planning permission? Planning permission is required, even within the curtilage of your own home https://www.irishexaminer.com/property/homeandgardens/arid-40975916.html

Properties from €15,000 to just under €100,00 https://thatsfarming.com/farming-news/property-in-ireland/

Peaky Blinders star Cillian Murphy’s stunning Monkstown property that he snapped up for €1.7m: Properties in the area have been sold for up to €3.6m, and the desirable area is close to a number of luxurious amenities such as yacht clubs and parks https://www.rsvplive.ie/news/celebs/peaky-blinders-star-cillian-murphys-28187876.amp

BidX1 sells €45 million worth of property at September auctions: The online auction firm recorded an additional €54 million in under-bidder liquidity https://www.businesspost.ie/property/bidx1-sells-e45-million-worth-of-property-at-september-auctions/

COMMERCIAL PROPERTY NEWS

Irish commercial property investment jumps 40% in first nine months of year: ‘Exceptional’ one-off sales drives market, with office and residential sectors attracting bulk of investor interest https://www.irishtimes.com/business/2022/10/05/one-off-sales-drive-solid-quarter-for-commercial-property-investment/

Commercial Property Market: A Year Of Two Halves https://businessplus.ie/promoted/commercial-property-market/

All eyes on plans for Meta’s HQ as tech sector feels the pinch: The tech sector, facing its first ever downturn, is cutting costs – including its real-estate footprint. The commercial property sector is watching developments at Meta’s Fibonacci Square HQ in Ballsbridge with interest https://www.businesspost.ie/analysis-opinion/ian-guider-all-eyes-on-plans-for-metas-hq-as-tech-sector-feels-the-pinch/
Eamon Waters, the Co Meath entrepreneur who sold his Beauparc Utilities to Macquarie Infrastructure and Real Assets for €1.3 billion, has emerged as 3 per cent shareholder in Dalata, the country’s largest hotel group. https://www.thetimes.co.uk

German investor pays €60m for Dublin 8 office block: Patrizia’s acquisition of the Eight Building in Newmarket Square brings value of Irish portfolio to €830m https://www.irishtimes.com/property/commercial-property/2022/10/07/german-investor-pays-60m-for-dublin-8-office-block/

State reaches agreement with landlord on €10m lease error on Department of Health headquarters: Deal will be extended for nine months after ‘mismeasurement’ by the Office of Public Works resulted in overpayment to landlord https://www.irishtimes.com/politics/2022/10/06/state-and-goodman-reach-agreement-on-10m-lease-error-on-department-of-health-headquarters/

Paddy McKillen Jr to sell The Lucky Duck pub and Stella Cinema: Stella was named as the best cinema in Time Out magazine’s 50 best in Ireland and the UK https://m.independent.ie/business/commercial-property/paddy-mckillen-jr-to-sell-the-lucky-duck-pub-and-stella-cinema-42040922.html

Dealz store owners win challenge against planning laws threatening its closure: An Bord Pleanála must reconsider its refusal to declare that the use of the premises as a Dealz store is exempted development — meaning it does not require planning permission https://www.irishexaminer.com/news/courtandcrime/arid-40976543.html

Clinigen Ireland signs pre-let deal for 46,000sq ft unit at Airways Industrial Estate: Unit 12 at north Dublin scheme undergoing rebuild and extension in advance of occupation by pharmaceutical manufacturer https://www.irishtimes.com/property/commercial-property/2022/10/05/clinigen-ireland-signs-pre-let-deal-for-46000sq-ft-unit-at-airways-industrial-estate/

Lush to open largest Irish store in Dundrum Town Centre this winter: Ireland’s largest Lush store will open in Dundrum Town Centre https://www.dublinlive.ie/whats-on/shopping/lush-open-largest-irish-store-25185327.amp

Proposals open for anyone who fancies taking over lovely northside local Fox & Hounds: The spot closed over the pandemic, but it could make a roaring comeback if the right person comes along to do it https://www.corkbeo.ie/news/property/proposals-open-anyone-who-fancies-25197379

Troy Studios, a 350,000 sq ft film and television production facility in Castletroy, Limerick, has been sold to two US investment firms. https://www.breakingnews.ie/business/limericks-troy-studios-sold-to-us-investment-firms-1371993.html

Half a dozen contenders vie for former Cork Debenhams store: The preferred bidder is due for selection on Friday https://www.irishexaminer.com/property/commercial/arid-40976483.html

Former Cork pub set to be transformed into apartments https://www.echolive.ie/corknews/arid-40976168.html

Cork nursing home set to close its doors in face of ‘significant challenges’: Strawhall Nursing Home in Fermoy, which was first established in 1988, has said they have made the decision to close ‘with heavy hearts’ https://www.irishexaminer.com/news/munster/arid-40976333.html

Notable stud farm for auction in Offaly: The owners set the benchmark for top-class stud facilities and land management in Ireland over the past 40 years while building a portfolio of farms. https://www.farmersjournal.ie/notable-stud-farm-for-auction-in-offaly-726075

Historic Thurles pub goes on the market for €450,000: Hostelry with romantic origins was meeting place between Civil War leaders and is a favourite of GAA fans en route to matches https://www.businesspost.ie/property/historic-thurles-pub-goes-on-the-market-for-e450000/

Value of Aoife Quinn’s former Nottingham hotel jumps to £10.88m as IBRC prepares for sale: Aoife Quinn is the second-youngest daughter of former billionaire Seán Quinn https://m.independent.ie/business/value-of-aoife-quinns-former-nottingham-hotel-jumps-to-1088m-as-ibrc-prepares-for-sale-42046802.html

Liquidators chase estate of late Dolphin Trust executive: KPMG accountants take court case to recoup part of €1.5 billion investors lost after collapse of controversial German property group https://www.businesspost.ie/news/liquidators-chase-estate-of-late-dolphin-trust-executive/

INTERNATIONAL PROPERTY NEWS

Yours for £200m? UK’s most expensive house goes up for sale, again: Seven-storey Knightsbridge property overlooking Hyde Park has more living space than American football pitch https://www.theguardian.com/money/2022/oct/08/uk-most-expensive-house-knightsbridge-for-sale-again

PLANNING | MediaCity office secures Salford green light https://www.placenorthwest.co.uk/planning-mediacity-office-secures-salford-green-light/

Inside Saudi Arabia’s floating logistics city – the Oxagon: Oxagon targets to house around 90,000 residents by 2030, with the first one expected as early as next year https://www.arabianbusiness.com/industries/inside-saudi-arabias-floating-logistics-city-the-oxagon

Chicago is turning some of its iconic office buildings into apartments https://www.marketplace.org/2022/10/04/chicago-iconic-office-buildings-apartment-conversions/amp/

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/