Weekly Irish Property Round-Up

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: 

• Why on earth would we need a constitutional referendum on the right to housing? There is absolutely nothing in the Constitution that prevents Government from doing its job and providing housing  https://www.irishtimes.com/opinion/2022/08/17/why-on-earth-would-we-need-a-constitutional-referendum-on-the-right-to-housing/

• ‘I don’t say it lightly’: Housing crisis is a breach in the social contract, says Tánaiste: In an exclusive interview, Leo Varadkar also indicated the minimum wage is to increase.  https://www.thejournal.ie/leo-varadkar-interview-housing-budget-5843774-Aug2022/?amp=1

• Some Ukrainians to remain in student accommodation into autumn as housing squeeze continues  https://www.irishexaminer.com/news/arid-40942160.html

• Our housing crisis represents a ‘fundamental failure of the State’ – Brendan Gleeson: The award-winning actor talks about putting people first instead, the housing crisis, and facing up to our problems  https://m.independent.ie/irish-news/news/our-housing-crisis-represents-a-fundamental-failure-of-the-state-brendan-gleeson-41925741.html

• Top civil servant ‘shocked’ by uncollected derelict site fines: Concerns came after councillors at Cork County Council queried why the local authority only collected €10,000 of the €1 million in fines  https://www.businesspost.ie/news/top-civil-servant-shocked-by-uncollected-derelict-site-fines/

• Limerick councillor believes scheme from the 50s might be answer to housing crisis  https://www.limerickleader.ie/news/home/882457/limerick-councillor-believes-scheme-from-the-50s-might-be-answer-to-housing-crisis.html

• What can we expect from next month’s budget? The Irish Examiner political team look ahead to what we can expect on September 27  https://www.irishexaminer.com/news/politics/arid-40940726.html

• Ministers discussing plan for landlords and tenants as part of Budget 2023: Report from 2017 around tax treatment of landlords being ‘dusted down’, senior Government sources say  https://www.irishtimes.com/ireland/2022/08/18/ministers-discussing-plan-for-landlords-and-tenants-as-part-of-budget-2023/

• How a failing rental market threatens social and economic catastrophe  https://www.irishtimes.com/life-style/2022/08/20/how-a-failing-rental-market-threatens-social-and-economic-catastrophe/

• House prices and rents have soared in the EU since 2010. Will rising interest rates pull them back down? https://www.weforum.org/agenda/2022/08/house-price-rent-europe/

• Why Sweden is limiting mortgages to 105 years – It comes after calls last week for 50-year mortgages in Ireland  https://www.newstalk.com/news/why-sweden-is-limiting-mortgages-to-105-years-1372503

• Ireland needs a housing policy for five million people- Pat Farrell: Census figures show we need to build close to 50,000 houses per annum over the next decade  https://www.irishtimes.com/business/2022/08/15/ireland-needs-a-housing-policy-for-five-million-people/

• Limiting [*Investment] funds’ borrowing ‘a better way of cooling rental market than caps’, EU report finds  https://m.independent.ie/business/personal-finance/property-mortgages/limiting-cuckoo-funds-borrowing-a-better-way-of-cooling-rental-market-than-caps-eu-report-finds-41917020.html *Incorrect terminology removed

• ‘Strong demand’ for student housing pulls investors into Irish market: ‘Silver tsunami’ of baby boomers expected to drive capital into nursing home sector, says Cushman & Wakefield  https://www.irishtimes.com/business/2022/08/19/strong-demand-for-student-housing-pulls-investors-into-irish-market/

• Senator Regina Doherty calls for swift Government action on apartment defects  https://m.independent.ie/regionals/dublin/fingal/senator-regina-doherty-calls-for-swift-government-action-on-apartment-defects-41914705.html

• Hundreds of millions could be saved if State buildings were bought instead of rented, review finds: Nearly two-thirds of the State’s rental costs in Dublin are for office space in Dublin 1 and Dublin 2  https://www.irishtimes.com/ireland/2022/08/19/hundreds-of-millions-could-be-saved-by-state-building-or-buying-offices-instead-of-leasing-review-finds/

• Minister ‘misinterpreted the requirements’ after failure to declare second house sale: Robert Troy said he had been “under the impression” that only property in his possession at the end of a given year needed to be declared  https://www.irishexaminer.com/news/politics/arid-40940705.htmlAlso: Investigation into disclosures of Minister’s property interests sought. Minister of State Robert Troy’s dealings in relation to three properties in his constituency have come under scrutiny  https://www.irishtimes.com/ireland/2022/08/17/investigation-into-disclosures-of-ministers-property-interests-sought/ 

• Dublin site part-owned by Robert Troy was at heart of planning row overseen by Bord Pleanála’s former deputy chair: Fianna Fáil TD Troy included site in list of assets he published yesterday  https://www.independent.ie/irish-news/politics/dublin-site-part-owned-by-robert-troy-was-at-heart-of-planning-row-overseen-by-bord-pleanalas-former-deputy-chair-41922084.html

• Minister for Housing refers report on An Bord Pleanála to DPP and Gardaí  https://www.breakingnews.ie/amp/ireland/minister-for-housing-refers-report-on-an-bord-pleanala-to-dpp-and-gardai-1350435.html Also: Listen back: Minister Darragh O’Brien on the An Bord Pleanala report: Darragh O’Brien, Minister for Housing, Local Government, and Heritage of Ireland joins us to discuss the An Bord Pleanala report and the ongoing housing crisis.  https://www.newstalk.com/podcasts/highlights-from-the-pat-kenny-show/minister-darragh-obrien-on-the-an-bord-pleanala-report 

• Pregnant woman who says she was discriminated against by landlord awarded €3,000: Workplace Relations Commission hears tenancy agreement was rescinded after woman inquired about housing assistance https://www.irishtimes.com/ireland/2022/08/18/pregnant-woman-who-says-she-was-discriminated-against-by-landlord-awarded-3000/

• Ireland’s emissions rose by 20pc in the first quarter of this year compared to the same period in 2021. This is the third highest increase in the EU, behind Bulgaria at 38pc and Malta at 21pc  https://www.siliconrepublic.com/innovation/ireland-emissions-eu-2022

• Doubt over tech giants’ €2bn data investment: Microsoft and Amazon are looking elsewhere after grid connection lockout  https://www.thetimes.co.uk/article/doubt-over-tech-giants-2bn-data-investment-kzgks50gw

• Ireland’s data centre dilemma: How can the national grid cope as digital demand grows? As the power system struggles to supply the demands of 70-plus data centres, many are asking why the government has been so keen to express continuing support for the energy-sapping industry  https://www.businesspost.ie/news-focus/irelands-data-centre-dilemma-how-can-the-national-grid-cope-as-digital-demand-grows/

• UK estate agent pens open letter to the property industry calling for less blaming, less toxicity, and more collaboration between conveyancers and estate agents https://propertyindustryeye.com/estate-agent-pens-an-open-letter-to-the-property-industry/

• Apple tells staff to come into the office for at least three days a week: Memo from boss Tim Cook backs down from earlier attempt to get all employees in on same three fixed days  https://www.theguardian.com/technology/2022/aug/16/apple-tells-staff-to-come-into-the-office-for-at-least-three-days-a-week

• Creative vs. Contentious: People want “offensive” Crown Paints advert banned after attracting hundreds of complaints  https://www.joe.ie/news/people-want-offensive-crown-paints-advert-banned-attracting-hundreds-complaints-753734

• The Metaverse Will Enhance — Not Replace — Companies’ Physical Locations  https://hbr.org/2022/08/the-metaverse-will-enhance-not-replace-companies-physical-locations

• Property District has teamed up with Hear Me Roar Media and award-winning TikTok agency Nonsensical to deliver groundbreaking campaigns for Ireland-based construction and real estate companies. Contact amey@propertydistrict.ie 

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

In the #Proptech Hot Seat on iwith host Carol Tallon this week are Katrine Anna Larsen, Co-Founder and COO of Hococo, a residential tenant experience and operations platform, together with her co-founder William Shaw.

Hococo’s all-in-one SaaS solution turns distant tenants into long-term customers by helping owners offer round-the-clock hospitality-like service, drive positive social impact, and seamlessly manage building operations and communications. Operating across the UK and Europe, Hococo’s technology is trusted by the likes of Patrizia, NREP and Catella and is deployed across more than 10,000 residential units.

Produced by Hear Me Roar Media

Watch back: https://youtu.be/84bHDHmTu4Y 

Listen back: https://ipropertyradio.com/proptech-hot-seat/ 

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

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Major new car-free town planned for west Dublin: City Edge project on 700 hectares along Naas Road will have 40,000 homes, transport options and population of 85,000  https://www.irishtimes.com/ireland/dublin/2022/08/17/plans-to-construct-peripheral-virtually-car-free-dublin-town/

• Exhibiting the life of the North Wall community: The Silver Lining exhibit featuring photos of the North Wall area from Paul Kelly opens at Cloud Cafe on North Strand Road  https://www.irishtimes.com/ireland/dublin/2022/08/17/exhibiting-the-life-of-the-north-wall-community/

• Docklands mural inspired by rich musical heritage of area: Hibernia commissioned the work from artist James Earley, which now marks the symbolic entrance to Hibernia’s Windmill Quarter https://www.businesspost.ie/property/docklands-mural-inspired-by-rich-musical-heritage-of-area/ (pictured above)

• The flea markets ‘bringing the magic back’ to Dublin city  https://www.irishtimes.com/life-style/2022/09/03/the-flea-markets-that-are-bringing-the-magic-back-to-dublin-city/

• Wicklow council probed ‘film set’ house structure at beauty spot on hospitality mogul’s land: The landowner – a company owned by Paddy McKillen Jr of Press Up – said no planning permission was needed for ‘temporary’ structure.  https://www.thejournal.ie/house-film-set-magheramore-wicklow-press-up-mckillen-5844207-Aug2022/?amp=1

• Age friendly adustments made to seating in Salthill  https://www.galwaydaily.com/news/age-friendly-adustments-made-to-seating-in-salthill/

• History, artistry and skill behind Ireland’s iconic stone walls  https://www.irishcentral.com/opinion/others/history-irelands-dry-stone-walls.amp

• British retail giant Tesco has been urged to provide Irish-language self-service checkout tills at its new Galway Gaeltacht store.  https://connachttribune.ie/tesco-urged-to-go-for-full-irish-on-new-supermarket/

• Call to halt Kildare development plan is rejected  https://www.leinsterleader.ie/news/home/887000/call-to-halt-kildare-development-plan-is-rejected.html

• A rural housing dispute Mayo simply can’t afford to lose  https://www.con-telegraph.ie/2022/08/17/a-rural-housing-dispute-mayo-simply-cant-afford-to-lose/

• Offaly ladies football launch major fundraiser to help develop own ground  https://www.offalyexpress.ie/news/gaa/887223/offaly-ladies-football-launch-major-fundraiser-to-help-purchase-own-ground.html

• Through the roof: thatched cottage owners to set up new group insurance scheme due to soaring costs  https://m.independent.ie/irish-news/through-the-roof-thatched-cottage-owners-to-set-up-new-group-insurance-scheme-due-to-soaring-costs-41922054.html

• Master in his craft: Thatcher with lifelong passion for old houses  https://www.agriland.ie/farming-news/master-in-his-craft-thatcher-with-lifelong-passion-for-old-houses/

• How Ireland’s Hare Krishna Island went from dream to folly to recovery: Hare Krishnas bought Inis Rath in the 1980s, and now extensive renovations look set to turn the island into a retreat hotspot  https://amp.theguardian.com/uk-news/2022/aug/14/how-ireland-hare-krishna-island-inis-rath-went-from-dream-to-folly-to-recovery

• “Grassy parks are no longer viable in the face of global heating”  https://www.dezeen.com/2022/08/18/grassy-parks-global-heating-phineas-harper-opinion/

• Home and away: What Irish abroad love about where they live now  https://www.irishtimes.com/life-style/2022/08/20/home-and-away-what-irish-abroad-love-about-where-they-live-now/

CONSTRUCTION & DEVELOPMENT NEWS

• Construction activity contracts for first time since April 2021 – IrishRealEstate.news

Construction activity contracts for first time since April 2021

• Construction lull threatens to slow supply of housing amid costs crisis and economic uncertainty  https://m.independent.ie/business/irish/construction-lull-threatens-to-slow-supply-of-housing-amid-costs-crisis-and-economic-uncertainty-41911497.html

• Educational snobbery is causing our skills shortages: Covid taught us the value of manual work. Now, pay and conditions need to catch up to make home-building, caring and other essential roles attractive to young people  https://www.irishexaminer.com/opinion/commentanalysis/arid-40942172.html

• Planning decisions delayed by overhaul: An Bord Pleanala’s recent turmoil over conflict of interest means an increase in cases pending  https://www.thetimes.co.uk/article/planning-decisions-delayed-by-overhaul-zrnj6jz3p

• Full transition to online planning system delayed until 2023: Last year, the Department of Housing said the system would be in place by June 2022. https://www.thejournal.ie/online-planning-eplanning-delayed-5844542-Aug2022/

• Builders accuse ESB staff of demanding cash for connections: Semi-State company seeking details of people allegedly involved and nature of payments from firms https://www.irishtimes.com/business/2022/08/12/builders-accuse-esb-staff-of-demanding-cash-for-connections/

• Affordable housing group warns that rate of delivery is in jeopardy: Clúid Housing says funding model will force it into ‘slowing down the signing of contracts to build/buy’ new homes  https://www.businesspost.ie/news/affordable-housing-group-warns-that-rate-of-delivery-is-in-jeopardy/

• Cost of repairing Park West defects triples to €15m: The apartments first sold for €199,950-€425,000 in the early 2000s  https://www.irishtimes.com/ireland/housing-planning/2022/08/19/cost-of-repairing-park-west-defects-triples-to-15m/

• New Intel filtration system to save almost half a billion litres of water a year: Move is a key part of plan for company’s Irish operation to become ‘net water positive’ by 2030  https://www.irishtimes.com/ireland/2022/08/18/new-intel-filtration-system-to-save-almost-half-a-billion-litres-of-water-a-year/

• Appeal lodged over development of €100 million solar farm near Punchestown Racecourse: There had previously been objections from multiple stakeholders in the horseracing industry.  https://www.thejournal.ie/planning-appeal-kildare-solar-farm-5843318-Aug2022/?amp=1

• Kennedy Wilson secures €77m AIB green loan: Debt will fund development of 1,850sq m mixed-use scheme in Stillorgan  https://www.irishtimes.com/business/2022/08/17/kennedy-wilson-secures-77-million-aib-green-loan/

• Large-scale apartment blocks planned for Dublin mountains greenbelt: Councillors and residents concerned over schemes of up to eight storeys following rural road upgrade  https://www.irishtimes.com/ireland/housing-planning/2022/08/19/large-scale-apartment-blocks-planned-for-dublin-mountains-greenbelt/

• Retired judge objects again to Blackrock build-to-rent scheme: Woodlands Park project plans to provide 38 units for older people and to support their ‘physical and emotional wellbeing’  https://www.irishtimes.com/business/2022/08/17/retired-judge-objects-again-to-blackrock-build-to-rent-scheme/

• Controversial 10-storey ‘build to rent’ apartment scheme in Dublin 4 gets the green light  https://m.independent.ie/irish-news/news/controversial-10-storey-build-to-rent-apartment-scheme-in-dublin-4-gets-the-green-light-41918981.html

• Plans for apartments on Terenure College playing pitches turned down: Council refuses planning permission for build-to-rent scheme  https://www.irishtimes.com/business/2022/08/15/plans-for-apartments-on-terenure-college-playing-pitches-turned-down/

• Setback for Tetrarch as council blocks development plans for land around Howth Castle: Property investor hoping RedC poll showing strong local interest in affordable homes will sway councillors  https://www.irishtimes.com/ireland/housing-planning/2022/08/20/setback-for-tetrarch-as-council-blocks-development-plans-for-land-around-howth-castle/

• Concerns ministerial intervention in newly launched city development plan will impact housing delivery: The Construction Industry Federation has expressed concern at the potential reduction in the amount of land zoned for housing in the development plan.  https://www.echolive.ie/corknews/arid-40943216.html

• West Cork riverfront field with permission for ‘glamping’ site hits the market for half a million euro: The plot has been earmarked as a a ‘glamourous camping’ site – a trend taking over the Cork countryside with dedicated accommodation across the county  https://www.corkbeo.ie/news/property/west-cork-riverfront-field-permission-24806374

• Housing plan turned down over lack of pedestrian access  https://connachttribune.ie/housing-plan-turned-down-over-lack-of-pedestrian-access/

• Plans lodged with An Bord Pleanala for 170 homes in Castlegar  https://galwaybayfm.ie/galway-bay-fm-news-desk/plans-castlegar/

• Plans for leisure centre and swimming pool in Loughrea turned down  https://galwaybayfm.ie/galway-bay-fm-news-desk/plans-for-leisure-centre-and-swimming-pool-in-loughrea-turned-down/

• Enforcement notices served on developer of housing estate in Limerick village  https://www.limerickleader.ie/news/home/889632/enforcement-notices-served-on-developer-of-housing-estate-in-limerick-village.html

• Plans for 158 new Kildare apartments, 260-bed student accommodation and creche announced: Maynooth development  https://www.kildarenow.com/news/home/888971/plans-for-158-new-kildare-apartments-260-bed-student-accommodation-and-creche-announced.html

• Decision next week on application to amend previously permitted housing scheme in Offaly town  https://www.offalyexpress.ie/news/home/890025/decision-next-week-on-application-to-amend-previously-permitted-housing-scheme-in-offaly-town.html

• Avenir Assets Management has been granted permission to a build a seven-storey and a nine-storey building, comprising of just over 10,000 square metres in total, in the Cloghanboy area of Athlone. https://www.midlands103.com/news/midlands-news/midlands-town-set-to-gain-two-high-rise-office-blocks/ Also: New nine-storey office block could cater for 500 workers  https://www.westmeathindependent.ie/2022/08/19/new-nine-storey-office-block-could-cater-for-500-workers/

• Planning approval for four Clonmel homes is appealed to An Bord Pleanála https://www.tipperarylive.ie/news/home/889685/planning-approval-for-four-clonmel-homes-is-appealed-to-an-bord-pleanala.html

• Sport horse breeders in Ireland are planning on putting in some €342 million in capital infrastructure over the next three years  https://www.horsetalk.co.nz/2022/08/19/irish-horse-breeders-e342m-investment/

• Royal BAM’s combined UK and Ireland construction operations delivered steady growth in the first half and together achieved greater revenue than the Dutch construction group’s home market.  https://www.constructionenquirer.com/2022/08/18/bam-uk-delivers-steady-first-half-growth/

• O’Flynn asks Supreme Court to hear appeal against neighbour’s insolvency: The Cork-based developer has now taken four separate legal actions against John O’Driscoll’s personal insolvency arrangement  https://www.businesspost.ie/news/oflynn-asks-supreme-court-to-hear-appeal-against-neighbours-insolvency/

• Paddy McKillen Snr’s Dublin firm records profits of €10.6m for 2020  https://m.independent.ie/business/paddy-mckillen-snrs-dublin-firm-records-profits-of-106m-for-2020-41921812.html

• Kingspan, the global leader in high performance insulation and building envelope solutions, issues its half-yearly financial report for the six-month period ended 30 June 2022: Revenue up 42% to EUR4.2bn & Trading profit up 32% to EUR434.2m https://uk.advfn.com/stock-market/london/kingspan-KGP/share-news/Kingspan-Group-PLC-Half-year-Report/88873822

• Workers at CRH subsidiary describe boss’s 24% pay rise as ‘kick in the teeth’: CRH boss Albert Manifold gets dragged into row over pay at building materials group’s main UK subsidiary Tarmac  https://www.irishtimes.com/business/2022/08/20/workers-at-crh-subsidiary-describe-bosss-24-pay-rise-as-kick-in-the-teeth/

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

• Your startup needs someone to be its lead storyteller… and if you’re the CEO, ideally, that someone is you  https://techcrunch.com/2022/08/18/lead-storyteller/

• University of Limerick launches new Global Fellowships programme in collaboration with tech giant  https://www.limerickleader.ie/news/home/889236/university-of-limerick-launches-new-global-fellowships-programme-in-collaboration-with-tech-giant.html

• The Talbot Collection Hotels announces collaboration with  SMART FLOW to reduce their water footprint and improve water sustainability  🔗https://prop-tech.ie/leading-ai-water-technology-company-smart-flow-has-announced-a-new-alliance-with-the-talbot-collection-hotels/ 

• Zaplox to Deliver Mobile Guest Journey to 25 PREM Group Properties Across Europe: Guests will soon be able to skip the lines and enjoy the convenience of digital check-in and mobile keys, using their own phone.  https://www.hospitalitynet.org/news/4112061.html

• All the new first-time European VC funds of 2022: Launching a new fund in 2022 is, over the long-term, likely to prove better timing than launching a new fund in the frothy days of 2021 https://sifted.eu/articles/first-time-vc-funds-2022/

• Human or robot: how do estate agency web chats work? Ever wondered who is behind the box that pops up? Enter the world of online conversation — and those annoying bots  https://www.thetimes.co.uk/article/human-or-robot-how-do-estate-agency-web-chats-work-k2zpw52rn

• UK agency board supplier reveals proptech-inspired future for its sale signs  https://www.estateagenttoday.co.uk/breaking-news/2022/8/agency-board-supplier-reveals-proptech-inspired-future-for-its-sale-signs

• VCs pause on proptech investing https://connectedremag.com/smart-buildings/proptech/vcs-pause-on-proptech-investing/

• Can proptech go with Adam Neumann’s Flow?  https://www.protocol.com/newsletters/protocol-fintech/flow-proptech-market Also: Investing in Adam Neumann’s Flow, by Marc Andreessen  https://a16z.com/2022/08/15/investing-in-flow/

• Former WeWork CEO Adam Neumann’s New Real Estate Company Is Planning A Digital Wallet That Stores Crypto  https://www.forbes.com/sites/davidjeans/2022/08/17/adam-neumanns-flow-a16z-crypto/?sh=5e3fbc9723a2 But – In Crypto: Adam Neumann’s Flowcarbon project ‘paused indefinitely’  https://businesscloud.co.uk/news/in-crypto-adam-neumanns-flowcarbon-project-paused-indefinitely/

• Inpixon Named Coworking Platform of the Year by 2022 PropTech Breakthrough Awards https://www.prnewswire.com/news-releases/inpixon-named-coworking-platform-of-the-year-by-2022-proptech-breakthrough-awards-301608095.html

• Doma Recognized as Overall Real Estate Closing Solution of the Year by PropTech Breakthrough Awards | Business Wire https://www.businesswire.com/news/home/20220818005177/en/Doma-Recognized-as-Overall-Real-Estate-Closing-Solution-of-the-Year-by-PropTech-Breakthrough-Awards

• EasyKnock Selected as Winner of the 2022 PropTech Breakthrough Award for Client Collaboration Solution of the Year: The residential sale-leaseback company ranked highest in client collaboration by the annual awards program recognizing innovation in the global real estate technology industry https://www.businesswire.com/news/home/20220818005226/en/EasyKnock-Selected-as-Winner-of-the-2022-PropTech-Breakthrough-Award-for-Client-Collaboration-Solution-of-the-Year 

• Agya Ventures Closes $32M First Investment Fund With Plans to Invest in Metaverse Proptech: The venture fund will focus on early-stage proptech startups in real life and the metaverse.  https://www.nftgators.com/agya-ventures-closes-32m-first-investment-fund-with-plans-to-invest-in-metaverse-proptech/

• Seven backs real estate media baron Antony Catalano in $100 million proptech play – Startup Daily https://www.startupdaily.net/topic/funding/seven-backs-real-estate-media-baron-antony-catalano-in-100-million-proptech-play/

• FlowForma process automation recognised as Top 10 Construction Tech Solution Provider https://www.pbctoday.co.uk/news/digital-construction/construction-technology-news/flowforma-process-automation-recognised-as-top-10-construction-tech-solution-provider/114268/ 

• Safety tech boosts productivity, contractors say: AI-based data analysis is revolutionizing both safety and efficiency across construction sites. https://www.constructiondive.com/news/safety-tech-boosts-productivity-contractors-say-/629826/

• Industry experts discuss the role of security in PropTech | Security News https://www.sourcesecurity.com/insights/role-security-proptech-co-1645-ga-co-2566-ga-co-11504-ga-co-1560927467-ga-off.1660636768.html

• Airbnb introduces new anti-party technology in US and Canada  https://news.airbnb.com/airbnb-introduces-new-anti-party-technology-in-us-and-canada/

• Closinglock, a proptech & fintech startup focused on modernizing the real estate transaction process, announces that it has closed a $4M seed round led by LiveOak Venture Partners with participation from RWT Horizons and GTMfund.   https://finance.yahoo.com/news/closinglock-announces-4m-funding-led-130000880.html

• Proptech Firm Agora Closes $20 Million Series A Round: Real estate investment management startup to use funding to grow its tech and U.S. business  https://commercialobserver.com/2022/08/proptech-agora-funding-invrestment/

• PropTech Unicorn PLACE expands in 19 states with 37 new teams – Benzinga https://www.benzinga.com/pressreleases/22/08/p28544404/proptech-unicorn-place-expands-in-19-states-with-37-new-teams

• Square Yards proptech launches 3D metaverse of Dubai: Users can search from over 2000+ potential real estate projects across Dubai through its interactive 3D interface, get complete details of the project, and enter into the project metaverse as an Avatar https://www.itp.net/emergent-tech/square-yards-proptech-company-launches-3d-metaverse-of-dubai

RESIDENTIAL PROPERTY NEWS (including PRS)

• Crash test: As fears grow of property bubble bursting, eight experts reveal their predictions https://m.independent.ie/irish-news/crash-test-as-fears-grow-of-property-bubble-bursting-eight-experts-reveal-their-predictions-41924601.html

• Revenue opens review into decline in taxes paid by large property funds: Rate paid by large property investors has fallen from 17.9 per cent in 2020 to 5.9 per cent last year  https://www.businesspost.ie/news/revenue-opens-review-into-decline-in-taxes-paid-by-large-property-funds/

• Opening of student accommodation in Dublin delayed until October: Students due to move into Ardee Point in late August told the building will not be ready for another month  https://www.irishtimes.com/ireland/housing-planning/2022/08/19/opening-of-student-accommodation-in-dublin-delayed-until-october/

• Ires Reit takes delivery of Merrion Road apartments for €41.7m: Scheme adjacent to Elm Park development, also in Dublin 4, where Ires Reit owns 194 apartments  https://www.irishtimes.com/business/2022/08/15/ires-reit-takes-delivery-of-merrion-road-apartments-for-417m/

• Cork County Council receives 10 applications for €30k grant to renovate vacant homes: Croí Cónaithe scheme can give up to €30,000 to renovate a vacant home and up to €50,000 to renovate a derelict home  https://www.irishexaminer.com/news/munster/arid-40940762.html

• An Post linking up with new lender MoCo to offer mortgages https://m.independent.ie/business/personal-finance/property-mortgages/an-post-linking-up-with-new-lender-moco-to-offer-mortgages-41917168.html

• ‘It’s quite demoralising’: Dozens queue for over an hour to view three-bed rental in Dublin – People who attended the viewing said they faced a wait of over an hour to even get into the house.  https://www.thejournal.ie/dublin-house-5842389-Aug2022/

• Renters need to earn salary of up to €95,000 for some new developments as companies now doing affordability checks  https://m.independent.ie/irish-news/news/renters-need-to-earn-salary-of-up-to-95000-for-some-new-developments-as-companies-now-doing-affordability-checks-41924598.html

• Homeowners urged to rent rooms to students  https://www.rte.ie/news/ireland/2022/0817/1316265-student-accommodation/

• Rental availability hampered by post-pandemic return of properties to Airbnb  https://www.irishexaminer.com/news/arid-40940510.html

• ‘The house was a mess, and the bill came to €9,000. It broke me’: Life as a small landlord https://www.irishtimes.com/property/residential/2022/08/15/the-house-was-a-mess-and-the-bill-came-to-9000-it-broke-me-life-as-a-small-landlord/

• Landlord who had locks changed while tenant in hospital told to pay €5,000  https://m.independent.ie/irish-news/news/landlord-who-had-locks-changed-while-tenant-in-hospital-told-to-pay-5000-41914378.html

• Changes to Rent-a-Room scheme ‘will help several hundred students’: The scheme allows a homeowner to make up to €14,000 a year tax free https://www.newstalk.com/news/changes-to-rent-a-room-scheme-will-help-hundreds-of-students-1373873

• Surging demand delays application portal for Cork City affordable housing scheme: Cork City Council says where demand exceeds supply, the first 70% of homes will be offered on a first come, first served basis  https://www.irishexaminer.com/news/munster/arid-40941608.html

• With construction costs on the rise, is your home properly insured? Rapidly rising construction costs mean a large number of homeowners are underinsured, and that could cost them in a worst-case scenario  https://www.irishtimes.com/your-money/2022/08/16/is-your-home-properly-insured/

• HARDWARE SECTOR LAUNCHES EMPTY HOMES ACTION PLAN  https://dublinpeople.com/news/dublin/articles/2022/08/15/hardware-sector-launches-empty-homes-action-plan/?amp

• What €600k will buy – Dublin three-bed semi or a lakeside home with a private cinema  https://extra.ie/2022/08/14/property/pics-what-e600k-will-buy-dublin-three-bed-semi-or-a-lakeside-home-with-a-private-cinema

• €55,000 cottage in need of ‘little imagination and some investment’  https://thatsfarming.com/farming-news/cottage-for-sale-galway-2/

• An actual historic castle in Ireland that’s over 500 years old is now up for sale  https://www.offalyexpress.ie/news/national-news/886074/property-an-actual-historic-castle-in-offaly-that-s-over-500-years-old-is-now-up-for-sale.html

• Trio of historic Cork cottages in need of some serious TLC hit the market in Glanmire: Eyecatching, the charming townhouses sit right on the edge of the village and have a rich history dating back to the early 19th century https://www.corkbeo.ie/news/property/trio-historic-cork-cottages-need-24772396  

• Inside Saoirse Ronan’s quaint and cosy two-bed stone cottage in West Cork  https://www.image.ie/living/inside-saoirse-ronans-quaint-and-cosy-two-bed-stone-cottage-in-west-cork-221667

• Paul Mescal and Phoebe Bridgers set to buy house in West Cork  https://www.southernstar.ie/news/paul-mescal-and-phoebe-bridgers-set-to-buy-house-in-west-cork-4247585

• 13 SKINNY HOUSES THAT ARE SUPER CLEVER ON THE INSIDE  https://www.loveproperty.com/galleries/amp/74546/13-skinny-houses-that-are-super-clever-on-the-inside

COMMERCIAL PROPERTY NEWS

• Are too many offices being built in Dublin?  https://www.rte.ie/news/business/2022/0821/1316751-is-the-dublin-office-market-heading-for-a-bubble/

• No more nine-to-five: How the next generation are creating jobs on their own terms: The job market has changed drastically, and young people are finding new ways to work, including by turning hobbies into careers  https://www.irishtimes.com/health/your-wellness/2022/08/16/no-more-nine-to-five-how-the-next-generation-are-creating-jobs-on-their-own-terms/

• Office provider’s big bounceback proves it’s not a waste of space: Covid was just a setback, not a death knell, says Joe McGinley https://www.thetimes.co.uk/article/office-providers-big-bounceback-proves-its-not-a-waste-of-space-mq7nxvjgs

• Reports finds ‘significant level of uncertainty’ over State’s property portfolio  https://www.breakingnews.ie/amp/ireland/reports-finds-significant-level-of-uncertainty-over-states-property-portfolio-1352396.html

• European office market faces biggest test since financial crisis: Cost of servicing debt tops rental income for first time since 2007 as creditworthiness deteriorates  https://www.irishtimes.com/business/2022/08/15/european-office-market-faces-biggest-test-since-financial-crisis/

• Bracing for the big tech real-estate scale back: Downsizing costly office space is just the latest measure being taken by the giant tech companies to rein in spending amid signs of a slowdown  https://m.independent.ie/business/world/bracing-for-the-big-tech-real-estate-scale-back-41924027.html

Yet..

• Big Tech still strongest driver of Dublin office demand in Q2: Lisney report finds that fully fitted spaces in city centre are the hottest property for corporate tenants  https://www.businesspost.ie/property/big-tech-still-strongest-driver-of-dublin-office-demand-in-q2/

• Brown Thomas sale finalised as new owner takes over Selfridge Group  https://m.independent.ie/business/irish/brown-thomas-sale-finalised-as-new-owner-takes-over-selfridge-group-41921133.html

• Dublin LEGO store opens on Grafton Street  https://www.dublinlive.ie/whats-on/family-kids-news/gallery/dublin-lego-store-opens-grafton-24785894

• Built over the rubble of 1916, an iconic property on O’Connell Street offers attractions for investors  https://m.independent.ie/business/commercial-property/built-over-the-rubble-of-1916-an-iconic-property-on-oconnell-street-offers-attractions-for-investors-41919318.html

• Apartment Hotel Group City ID Acquires Site In Dublin  https://www-hospitalityireland-com.cdn.ampproject.org/c/s/www.hospitalityireland.com/amp/hotel/apartment-hotel-group-city-id-acquires-site-in-dublin-181022

• Proposal to use former Jurys Hotel in Ballsbridge for Ukrainians or students: US embassy, which has agreed to buy building, has no objection but facility not habitable, says owner Chartered Land  https://www.irishtimes.com/ireland/dublin/2022/08/19/proposal-to-use-former-jurys-hotel-in-ballsbridge-for-ukrainians-or-students/

• Pan-European real estate investment manager Eagle Street Partners has added a 42,000sqft office property in Ireland to its portfolio. The asset manager said it has bought the Boole House commercial office in Beech Hill Office Campus in Clonskeagh, Dublin 6 https://realassets.ipe.com/news/eagle-street-adds-boole-house-to-irish-office-portfolio/10061614.article

• Bartra Healthcare sells four nursing homes for €161m https://www.rte.ie/news/business/2022/0819/1316773-bartra-healtcare-sells-four-nursing-homes-for-161m/ 

• Tesco Ireland to invest €50m in new stores and upgrades this year  https://www.breakingnews.ie/business/tesco-ireland-to-invest-e50m-in-new-stores-and-upgrades-this-year-1351197.html

• ResMed opens new Dublin technology R&D facility: ResMed has officially opened its new technology R&D facility in Sandyford in Dublin alongside tánaiste Leo Varadkar.  https://www.med-technews.com/api/amp/news/medtech-ireland/resmed-opens-new-dublin-technology-r-d-facility/

• Cream of Cork’s South Mall is on a Swiss roll as investor gets €2m slice of the action: Swiss property investor continues his Cork city buying spree with purchases on St Patrick Street  https://www.irishexaminer.com/property/commercial/arid-40942493.html

• Clancy’s group bringing new pub with cocktail lounge to Cork city this week: After a multi-million euro refurbishment the new bar is set to open on Thursday  https://www.corkbeo.ie/culture/music-nightlife/clancys-group-bringing-new-pub-24764238

• Well-known publican Benny McCabe to take over iconic Cork pub: City centre pub adds to McCabe’s growing list of Cork venues  https://www.irishexaminer.com/property/commercial/arid-40942316.html

• Vacant Cork city pub to become shops and apartments as An Bord Pleanala greenlights plans: The former bar will be demolished and three retail units and an apartment block is to be built  https://www.corkbeo.ie/news/local-news/vacant-cork-city-pub-become-24794359

• Global Tech Leaders TE Connectivity launch new €5m medical device centre at Parkmore  https://connachttribune.ie/global-tech-leaders-te-connectivity-launch-new-e5m-medical-device-centre-at-parkmore/amp/

• Popular Irish pub closing after century spelling end of an era as family owners sell up: After nearly 100 years, the family believe it’s time for someone else to take over  https://www.galwaybeo.ie/news/popular-irish-pub-closing-after-7477333

• How we’re working together at Ashford Estate to achieve our green goals  https://www.businesspost.ie/post-plus/niall-rochford-how-were-working-together-at-ashford-estate-to-achieve-our-green-goals/

• Butler Arms Hotel reportedly sold for undisclosed amount  https://www.radiokerry.ie/news/butler-arms-hotel-reportedly-sold-for-undisclosed-amount-293170

• From Longford to New York to Dublin: the Mahon family pip Conor McGregor to iconic Dublin pub  https://thecurrency.news/articles/93590/from-longford-to-new-york-to-dublin-the-mahon-family-pip-conor-mcgregor-to-iconic-dublin-pub/

• JYSK, the Danish retailer, is set to open a new store in the midlands in Athlone.  https://www.westmeathexaminer.ie/2022/08/17/danish-retailer-to-open-new-midlands-store-next-week/

INTERNATIONAL PROPERTY NEWS

• Northern Ireland firm Martin Property Group buys six UK shopping centres  https://m.belfasttelegraph.co.uk/business/ulsterbusiness/news/northern-ireland-firm-martin-property-group-buys-six-uk-shopping-centres-41913483.html

• Property developer finds gold at the end of her rainbow roads  https://www.thetimes.co.uk/article/property-developer-finds-gold-at-the-end-of-her-rainbow-roads-qhbgkgxpg

• ‘They said it was impossible’: how medieval carpenters are rebuilding Notre Dame: Project leaders at Guédelon Castle tell how their woodwork savoir faire is proving a godsend for mission to restore Paris cathedral roof  https://www.theguardian.com/world/2022/aug/20/notre-dame-cathedral-fire-rebuild-medieval-carpenters-guledon

• Redfin’s Chief Economist On Where The Housing, Rental Markets Go From Here  https://www.bisnow.com/national/news/multifamily/podcast-redfin-daryl-fairweather-114317

• Homebuilders say U.S. is in a ‘housing recession’ as sentiment turns negative https://www.cnbc.com/2022/08/15/us-is-in-housing-recession-homebuilders-say.html

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/