WEEKLY PROPERTY ROUND-UP JANUARY 22ND, 2023

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

• Davos 2023: Almost two in five CEOs ‘fear their global firms will be unviable within 10 years’ – Worker shortages and need to adapt to tech changes given as reasons in survey as Davos meeting begins https://www.theguardian.com/business/2023/jan/16/almost-two-in-five-ceos-fear-their-global-firms-will-be-unviable-within-10-years

• The Government is now considering the possibility of “advance purchasing” large numbers of private-sector apartment blocks that already have planning permission but haven’t yet been built  https://www.irishtimes.com/opinion/2023/01/18/government-getting-ready-to-bail-out-the-developers-again/

• State agrees deals to lease 150 Kildare homes worth €50m from investment fund — despite pledge to phase out practice: Businessman Dermot Desmond said funds were ‘having a laugh at Ireland’ https://m.independent.ie/irish-news/state-agrees-deals-to-lease-150-kildare-homes-worth-50m-from-investment-fund-despite-pledge-to-phase-out-practice-42305026.html

• Why landlords are selling up: Taxes, regulation and fear of a Sinn Féin government: Rents are at record highs according to official statistics, and yet smaller landlords continue to sell up. Here three landlords explain why  https://www.irishtimes.com/property/2023/01/21/landlords-have-their-say-investors-are-not-in-the-game-at-the-moment/ Also: Landlords must be incentivised not to sell properties, says IPOA  https://www.irishexaminer.com/news/arid-41048288.html

• New tax incentives could entice investors back into Irish property market: Our addiction to housing appears to be on the wane, but measures to make buying more attractive could bring some of the €136 billion held in household savings back into the market https://www.businesspost.ie/property/analysis-new-tax-incentives-could-entice-investors-back-into-irish-property-market/

• Leaking windows, mouldy walls and poor insulation: The grim stories of Ireland’s defective apartments – Niamh Towey led an investigation into the scale of shoddy building practices during the Celtic Tiger era and heard the grim stories of many owners  https://www.irishtimes.com/property/2023/01/21/after-years-of-reporting-on-the-heartache-of-owners-of-defective-properties-good-news-at-last/

• Government facing a call for up to €1bn in additional funding to help build ‘affordable’ homes – The Land Development Agency has stepped up interventions in the housing market https://www.irishtimes.com/ireland/housing-planning/2023/01/16/government-facing-a-call-for-up-to-1bn-in-additional-funding-to-help-build-affordable-homes/

• State land agency outsources €42 million of work in four years: LDA has built no homes on state lands yet, but has agreed contracts with outside firms for everything from architectural to legal services  https://www.businesspost.ie/news/state-land-agency-outsources-e42-million-of-work-in-four-years/

• 800 Ukrainian refugees to be accommodated in 200 modular homes by Easter as State scrambles to find housing  https://m.independent.ie/irish-news/politics/800-ukrainian-refugees-to-be-accommodated-in-200-modular-homes-by-easter-as-state-scrambles-to-find-housing-42304014.html

• Builders could repurpose offices amid shortage of homes: CBRE notes State is ‘massively undersupplied’ across all types of housing  https://www.irishtimes.com/business/2023/01/19/builders-could-repurpose-offices-amid-shortage-of-homes/

• Hundreds of isolated apartments, deep-pocketed backers and a five-year horizon: iLiv’s new landlord model  https://thecurrency.news/articles/107632/hundreds-of-isolated-apartments-deep-pocketed-backers-and-a-five-year-horizon-ilivs-new-landlord-model/

• ‘Fallout from An Bord Pleanála chaos is hitting rural home building applications hard’ says local TD  https://www.laoistoday.ie/2023/01/17/fallout-from-an-bord-pleanala-chaos-is-hitting-rural-home-building-applications-hard-says-local-td/

• Government approves establishment of defects scheme for apartments and duplexes https://www.gov.ie/en/press-release/b6817-government-approves-establishment-of-defects-scheme-for-apartments-and-duplexes/

• Defective block cases have been confirmed in the south of the country, where homes damaged by bad blocks are locked out of a State redress scheme that is limited to certain counties.  https://www.rte.ie/news/primetime/2023/0117/1349280-fears-grow-as-bad-block-cases-confirmed-in-south/

• Average price paid per acre at auction jumps by 13.5pc in 2022: 30pc increase in the volume of farmland sold at auction  https://m.independent.ie/business/farming/farm-property/average-price-paid-per-acre-at-auction-jumps-by-135pc-in-2022-42290735.html

• Newton Emerson: Tax the millionaire home owners, not the billionaires – While the super-rich should pay more, meaningful redistribution requires targeting the surprising numerous western millionaires  https://www.irishtimes.com/opinion/2023/01/19/newton-emerson-tax-the-millionaire-home-owners-not-the-billionaires/

• Tourism under threat: Short-term letting plan is using a ‘hammer to crack a nut’: Self-catering sector could take a hit as new register designed to ease housing crisis comes into effect https://m.independent.ie/irish-news/tourism-under-threat-short-term-letting-plan-is-using-a-hammer-to-crack-a-nut-42304942.html

• It’s official… Buyers pay more for eco-friendly offices  https://www.thetimes.co.uk/article/buyers-pay-more-for-eco-friendly-offices-fwsbmldjd

• CBRE GWS must pay worker €78,000 over terms of redundancy: Claimant was denied enhanced redundancy package after almost 24 years of service  https://www.irishtimes.com/business/2023/01/20/cbre-must-pay-worker-78000-over-terms-of-redundancy/

• Host in Ireland Welcomes 54 Partners for 2023: The largest membership in the initiative’s history showcases the growing opportunity and global influence of Ireland’s digital infrastructure ecosystem https://www.irishrealestate.news/host-in-ireland-welcomes-54-partners-for-2023/

• Planned €70m Dublin Airport carpark deal referred to competition watchdog: Senator Gerard Craughwell questions decision by DAA to buy carpark beside Dublin Airport  https://m.independent.ie/business/planned-70m-dublin-airport-carpark-deal-referred-to-competition-watchdog-42296935.html

• HOLLYWOOD star Brad Pitt has revealed he wants to buy property in Ireland. The Fight Club actor has gushed over Ireland and said he “loves” it. https://www.thesun.ie/tv/10070375/brad-pitt-gushes-ireland-wants-buy-house/amp/

• The Irish Climate Tech Opportunity 2023  https://www.pwc.ie/reports/irish-climate-tech-opportunity-2023.html

• Dragons’ Den star on his new VC fund: ‘I’m a failure if we don’t back the next female-founded unicorn’: Steven Bartlett is raising a $100m fund from his podcasting network to invest in early-stage European startups  https://sifted.eu/articles/steven-bartlett-vc-fund-news/

• Dezeen Showroom: a lamp that is both powered by the sun and designed to mimic it when illuminated is among nine new products featured on Dezeen Showroom  https://www.dezeen.com/2023/01/16/sunne-lamp-products-lighting-furniture-homeware-dezeen-showroom/

• Most businesses believe rivals are greenwashing, new study finds: Report finds mandatory EU environmental disclosure will improve performance of businesses https://www.irishtimes.com/business/2023/01/19/most-businesses-believe-rivals-are-greenwashing-new-study-finds/

• “There are a lot of dangerous myths” about sustainability says British architect Norman Foster explains his studio’s approach towards sustainability and his views on concrete, timber, aviation and Architects Declare in this exclusive interview. https://www.dezeen.com/2023/01/19/norman-foster-sustainability-interview/

• Energy savings from home insulation “vanishing” after four years: Adding insulation to UK homes only provides short-term energy savings that are cancelled out within a few years by increase in energy use, according to a study by the University of Cambridge https://www.dezeen.com/2023/01/20/home-insulation-study-cambridge-university/

• Paul Doran, 45, of the well-known Pat Doran Construction family in Kildare died when he heroically rescued his 11-year-old girl https://www.irishmirror.ie/news/irish-news/tributes-flow-hero-dad-who-29010415.amp

• Revealed: the firms that failed to file gender pay-gap reports https://www.independent.ie/business/jobs/revealed-the-firms-that-failed-to-file-gender-pay-gap-reports-42297522.html

Crisis Communications & Issues Management

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 the show on iPropertyRadio.com, email hello@ipropertyradio.com

This week on iPropertyRadio …

 

PROPERTY MATTERS

Coming Home: The interactive design journal empowering homeowners

This week on ‘Property Matters’ on iPropertyRadio, host Carol Tallon is joined by Karen Douglas of The Design Lab to discuss a more human-centred approach to architecture and her new book intended to empower homeowners to take control of the design process in order to achieve a home that’s right for them!

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

BREAKING GROUND

Why are planning permissions not converting to new housing units?

On ‘Breaking Ground’ on iPropertyRadio.com this week, Carol Tallon chats to Paul Mitchell of Mitchell McDermott about construction inflation; why planning applications are not converting to new housing units; contractor capacity; and his firm’s expectations for the year ahead.

Watch back and listen back: https://ipropertyradio.com/breaking-ground/

*iPropertyRadio (https://ipropertyradio.com/) is part of Property District (https://propertydistrict.ie/), with content produced for radio, social media and podcasts by the team at Hear Me Roar Media https://hearmeroarmedia.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/

• Government seeks public’s views on new fire safety regulations  https://www.gov.ie/en/press-release/388d3-government-seeks-publics-views-on-new-fire-safety-regulations/

• ‘Abandoned Ireland’ photographer had a ghostly encounter in derelict Louth adventure centre  https://m.independent.ie/regionals/louth/news/abandoned-ireland-photographer-had-a-ghostly-encounter-in-derelict-louth-adventure-centre-42298955.html

• 40 people to move into refurbished Dublin flat complex  https://amp.rte.ie/amp/1349265/

• Refurbished Clerys clock unveiled above a Dublin struggling to maintain its identity: The Clerys Archive is a reminder of Dublin’s strange balancing act.  https://www.thejournal.ie/readme/clerys-5971527-Jan2023/ Also: ‘There’s a lot wrong with O’Connell Street – I hope Clerys’ return changes that,’ says former worker ahead of reopening of iconic Dublin department store  https://m.independent.ie/irish-news/news/theres-a-lot-wrong-with-oconnell-street-i-hope-clerys-return-changes-that-says-former-worker-ahead-of-reopening-of-iconic-dublin-department-store-42303975.html.

• ‘Tsunami’ of hotels sparks call for ‘aparthotel’ development in Dublin 8 to be refused: Labour Councillor Darragh Moriarty told Dublin Live the developer should be “nudged” towards building residential units which he said “the city is crying out for”  https://www.dublinlive.ie/news/dublin-news/tsunami-hotels-sparks-call-aparthotel-25990648

• THE long awaited new Lucan swimming pool and leisure centre is expected to open by early summer this year.  https://www.echo.ie/swimming-pool-expected-to-open-by-early-summer/

• How new bypass has boosted life in Cork town: A month since the town’s bypass opened, ADRIENNE ACTON drops into Macroom to see how folk feel about the change – and finds universal approval among locals and businesses  https://www.echolive.ie/corklives/arid-41049272.html

• Cork’s landmark clock to turn back time with return to St Patrick’s Street: The cherished timepiece has for some 170 years survived wars, the burning of Cork, and the complete redesign of the street in the 1990s https://www.irishexaminer.com/news/munster/arid-41050226.html

• Medieval church and graveyard in North Cork village restored: The ancient parish church in Dromtarriffe was in use as a place of worship up until July 1651 when it was burned by Cromwellian soldiers.  https://www.echolive.ie/corknews/arid-41053244.html

• High Court urged to fast track appeal hearings on €450m Limerick road  https://www.limerickleader.ie/news/home/1014138/high-court-urged-to-fast-track-appeal-hearings-on-450m-limerick-road.html

• Bypass will ease bottleneck and facilitate commercial and residential development https://connachttribune.ie/bypass-will-ease-bottleneck-and-facilitate-commercial-and-residential-development/

• Planning refused for Headford housing estate   https://www.galwaydaily.com/news/road-safety-concerns-scupper-headford-housing-plans/

• ‘Galway city’s oldest shop’ closed after 100 years finally reopening as big change rebuild underway – A piece of Galway history is opening its doors once again after a lengthy closure https://www.galwaybeo.ie/news/galway-news/galway-citys-oldest-shop-closed-8036970

• Works begin on first Galway city playground to have communication board for non-verbal children  https://connachttribune.ie/works-begin-on-first-galway-city-playground-to-have-communication-board-for-non-verbal-children/

• Plans for playschool in Clifden rejected by county planners  https://connachttribune.ie/plans-for-playschool-in-clifden-rejected-by-county-planners/amp/

• FYI New Local Area Plan to be introduced for Athenry  https://connachttribune.ie/fyi-new-local-area-plan-to-be-introduced-for-athenry/

• Planning permission expires for waste transfer facility in Ballinasloe  https://connachttribune.ie/planning-permission-expires-for-waste-transfer-facility-in-ballinasloe/

• Limerick could lead the way with night-time economy offering  https://www.live95fm.ie/news/live95-news/limerick-could-lead-the-way-with-night-time-economy-offering/

• “If you’re not a smart village, you’re going to be a dead village” says CEO of Kilkenny LEADER Partnership: The concept of smart villages is to the fore of the latest KLP plan for rural development  https://kclr96fm.com/if-youre-not-a-smart-village-youre-going-to-be-a-dead-village-says-ceo-of-kilkenny-leader-partnership/

• The Government is being accused of deliberately discriminating against people in rural Ireland who own houses with building defects: The Rural Independent Group of TDs say the Government is looking after property owners in Dublin, but is not treating people outside the capital with the same respect.  https://highlandradio.com/2023/01/21/government-deliberately-discriminating-against-rural-mica-homeowners-mcgrath/

• The Club Conundrum: how to ensure no one is left behind: Parish rules, strict planning laws on house-building and urbanisation among issues threatening rural clubs  https://www.irishtimes.com/sport/gaelic-games/2023/01/21/the-club-conundrum-how-to-ensure-no-one-is-left-behind/

• ‘I worry about what might happen if it ends’ – Men’s Shed forced to move  https://m.independent.ie/irish-news/i-worry-about-what-might-happen-if-it-ends-mens-shed-forced-to-move-42304929.html

• Council home completions up 15 per cent as Wicklow soars up BER A-rated rankings  https://m.independent.ie/regionals/wicklow/news/council-home-completions-up-15-per-cent-as-wicklow-soars-up-ber-a-rated-rankings-42294075.html

• Objection to holiday homes beside historic Laois house  https://www.leinsterexpress.ie/news/local-news/1014464/objection-to-holiday-homes-beside-historic-laois-house.html?utm_source=newsshowcase&utm_medium=discover&utm_campaign=CCwQrIXBws-lmPDTARj3sa21zKKN1YUBKkMIMBDRksX709KLp34YrLy-u8KTpoqZASoqCAAiEG-7kdkda0BcCX-Ur3XzPOcqFAgKIhBvu5HZHWtAXAl_lK918zzn&utm_content=bullets

• Teachers at St Flannan’s College oppose HSE nursing home plans: Staff at Ennis school say €25m facility will have ‘negative impact’ on students  https://www.irishtimes.com/ireland/education/2023/01/17/teachers-at-st-flannans-college-oppose-hse-nursing-home-plans/

• Consultation is due to commence shortly with schools and other service providers in Rathdowney on the building of modular homes from Ukrainian families flee war waged by Russia  https://www.leinsterexpress.ie/news/local-news/1015037/consultation-soon-on-ukrainian-homes-in-laois-town-which-is-set-to-take-more-families-that-planned.html

CONSTRUCTION & DEVELOPMENT NEWS

• Government runs a ‘huge risk’ of missing its targets for house-building in 2023  https://m.independent.ie/business/personal-finance/property-mortgages/government-runs-a-huge-risk-of-missing-its-targets-for-house-building-in-2023-42297746.html

• A man has died in a workplace accident in Killarney. It happened Monday on the Irish Water construction site near Muckross when a truck driver was seriously injured during an unloading incident at the site. https://killarneyadvertiser.ie/news/man-dies-in-construction-accident-in-muckross/

• The Morgan McKinley quarterly report has found one in four jobs in the construction sector are vacant: The Construction Industry Federation believes a new employment report doesn’t accurately reflect the situation in the sector.  https://www.midlands103.com/news/midlands-news/employment-report-doesnt-reflect-the-reality-of-the-construction-sector-cif/

• Ireland will not experience any industry growth in 2023 but should remain on par with 2022 levels. That’s according to infrastructure consulting firm AECOM, which today published its annual Irish construction industry review. John O’Regan is AECOM’s Ireland Director joined Emmet this morning on the show.  https://www.newstalk.com/podcasts/breakfast-business/ireland-will-not-experience-any-industry-growth-in-2023

• Call for more robust building oversight: A housing expert has said building inspections need to be “beefed up” following the latest redress scheme announced by the Government over defective apartments built during the Celtic Tiger era.  https://www.rte.ie/news/ireland/2023/0121/1349847-housing/

• The ‘rainy day’ Fine Gael is saving for is here – it’s called the housing crisis: Housing has already cost the government two ministers, and there is every chance that it will cause further instability in the months ahead  https://www.businesspost.ie/analysis-opinion/elaine-byrne-the-rainy-day-fine-gael-is-saving-for-is-here-its-called-the-housing-crisis/

• Developers’ success in 90% of fire safety cases: The Business Post discovered that among fire safety conditions removed by An Bord Pleanála on appeal were car park sprinklers, certain smoke vents and occupancy limits https://www.businesspost.ie/news/revealed-developers-success-in-90-of-fire-safety-cases/

• New planning rules to speed up delivery of water infrastructure: Change ordered by minister of state Peter Burke could expedite Uisce Éireann projects by up to two years  https://www.businesspost.ie/politics/new-planning-rules-to-speed-up-delivery-of-water-infrastructure/

• Kennedy Wilson secures €110m in AIB green loans for office schemes: Recently developed projects were built on green and sustainable principles to align with EU classification system  https://www.businesspost.ie/property/kennedy-wilson-secures-e110m-in-aib-green-loans-for-office-schemes/

• Comment: ‘New land tax could push up the price of Irish homes’: Will the new Residential Zoned Land Tax stimulate or stymie development  https://www.businesspost.ie/property/comment-new-land-tax-could-push-up-the-price-of-irish-homes/

• Request to remove site from RZLT register or defer the date as previous plans to develop the site could not proceed because planning permission granted by An Bord Pleanála had been quashed following a judicial review https://www.businesspost.ie/news/cairn-seeks-to-avoid-land-hoarding-fine-on-former-rte-site/

• Goldman Sachs secures planning permission for Blanchardstown scheme: Project envisages 971 apartment on retail site despite strong opposition  https://www.irishtimes.com/business/2023/01/17/goldman-sachs-secures-planning-permission-for-blanchardstown-scheme/

• Community council in court bid to overturn permission for 1,300 homes in Donabate: Group claims scheme involves ‘significant over-development’ of site in north Co Dublin  https://www.irishtimes.com/crime-law/courts/2023/01/16/community-council-in-court-bid-to-overturn-permission-for-1300-apartmentshouses-in-donabate/

• Clerys expected to reopen before summer: Restored clock and archive exhibition to open this week ahead of retail early in the second quarter of the year  https://www.irishtimes.com/ireland/dublin/2023/01/16/clerys-expected-to-reopen-before-the-summer/

• 200 new social homes planned across Cork: Fifty social homes are planned at each of the four developments  https://www.echolive.ie/corknews/arid-41048873.html

• Plans afoot for dozens of apartments at site in Blackpool: A planning application is at pre-validation stage with Cork City Council for the residential development.  https://www.echolive.ie/corknews/arid-41052596.html

• Cork City Council refuse south suburb apartment block plan as it’s of ‘inappropriate scale’ – The applicant had hoped to build two 3-storey buildings and one 2-storey building on the 0.36ha site  https://www.corkbeo.ie/news/local-news/cork-city-council-refuse-south-26007677.amp

• Cork town to get badly needed new houses after upgrade of waste water treatment facility – Capacity at the sewerage treatment plant in Mitchelstown has been increased and now has the capacity to handle up to 75 additional new homes in the area https://www.irishexaminer.com/news/munster/arid-41051057.html

• Council plan to build homes on Galway floodplain is blocked – Councillors voted to rezone the Headford Road site for residential use during final deliberations over Galway city’s development plan  https://www.irishtimes.com/ireland/housing-planning/2023/01/15/ryan-intervenes-to-stop-council-allowing-homes-on-floodplain-in-galway/

• Refusal for 60 apartments at Seamus Quirke Road  https://connachttribune.ie/refusal-for-60-apartments-at-seamus-quirke-road/amp/

• Rising costs hit plans for new hotel in Galway city’s westend  https://www.galwaydaily.com/news/rising-costs-hit-plans-for-new-hotel-in-citys-westend/

• New owner for landmark site in Limerick city  https://www.limerickleader.ie/news/home/1012213/new-owner-for-landmark-site-in-limerick-city.html

• Developers reduce size of planned Limerick apartment complex after opposition  https://www.limerickleader.ie/news/home/1013466/developers-reduce-size-of-planned-limerick-apartment-complex-after-opposition.html

• Lidl plan to locate store in Bettystown Town Centre  https://www.meathchronicle.ie/2023/01/15/lidl-plan-to-locate-store-in-bettystown-town-centre/

• Tesco to seek permission for new store in Cavan Town  https://www.anglocelt.ie/2023/01/16/tesco-to-seek-permission-for-new-store-in-cavan-town/

• Contractor being appointed for Athlone streetscape revamp  https://www.westmeathindependent.ie/2023/01/20/contractor-being-appointed-for-athlone-streetscape-revamp/

• Start of planning process for key Athlone road still months away  https://www.westmeathindependent.ie/2023/01/20/start-of-planning-process-for-key-athlone-road-still-months-away/

• Laois cafe announces closure following more than 11 years in business  https://www.laoistoday.ie/2023/01/17/laois-cafe-announces-closure-following-more-than-11-years-in-business/

• Wexford council CEO confident new builders will seize opportunity in New Ross  https://m.independent.ie/regionals/wexford/news/wexford-council-ceo-confident-new-builders-will-seize-opportunity-in-new-ross-42291199.html

• Lidl refused planning permission for new supermarket on the Rosslare Road in Wexford  https://m.independent.ie/regionals/wexford/news/lidl-refused-planning-permission-for-new-supermarket-on-the-rosslare-road-in-wexford-42294386.html

• PERMISSION has been granted for 36 new homes in the village of Quin, subject to 25 conditions being satisfied. Datcha Construction, who lodged their planning application in January of 2022 for a site at Quingardens, have secured the permission despite some local opposition. https://clarechampion.ie/planning-granted-for-quin-homes-but-for-fewer-units/

• Modular accommodation approved for east Mayo school https://www.con-telegraph.ie/2023/01/17/modular-accommodation-approved-for-east-mayo-school/

• Planning for 52 houses in Tralee appealed to An Bórd Pleanála  https://www.radiokerry.ie/news/planning-for-52-houses-in-tralee-appealed-to-an-bord-pleanala-313599

• Plans for new concrete manufacturing plant in Inishowen  https://www.donegaldaily.com/2023/01/21/plans-for-new-concrete-manufacturing-plant-in-inishowen/amp/

• Inland Homes CEO quits after five weeks: The new chief executive of AIM-listed Inland Homes has suddenly left the house builder after five weeks.  https://www.constructionenquirer.com/2023/01/16/inland-homes-ceo-quits-after-five-weeks/

• Irish-owned architect Argo draws up plans to tap €12bn US market: David Campion-headed firm opens New York studio, offering clients 16-hour workday across six time-zones  https://www.irishtimes.com/business/2023/01/17/irish-owned-architect-argo-draws-up-plans-to-tap-12bn-us-market/

• OMC Technologies have announced a €4m investment  https://irishbuildingmagazine.ie/2023/01/17/omc-technologies-omc-have-announced-a-e4m-investment/

• Case against developer Greg Kavanagh over €6.4m debt settled in High Court  https://www.breakingnews.ie/amp/ireland/case-against-developer-greg-kavanagh-over-e6-4m-debt-settled-in-high-court-1421113.html

• Irish developer Brendan McNamara holds onto €6m pension despite company’s debts of over €1 billion  https://www.thetimes.co.uk/article/irish-developer-brendan-mcnamara-holds-onto-6m-pension-despite-companys-debts-of-over-1-billion-frrt59jqk

• Larkins’ building firm hits wall with €4.3m interest on tax debt: Vieira Limited, which courted controversy over Tyrrelstown estate, had previous run-ins with Revenue over Vat assessments  https://www.businesspost.ie/news/larkins-building-firm-hits-wall-with-e4-3m-interest-on-tax-debt/

• Couple abandoned ‘beautiful’ Ballsbridge home as wife traumatised by noise from next door: Daniel and Joseph Hoban suing Frank and Mark Cassin over alleged omission of wall and gap between properties  https://www.irishtimes.com/crime-law/courts/2023/01/20/couple-abandoned-beautiful-ballsbridge-home-as-wife-traumatised-by-noise-from-next-door/

• €4.4 million was the total sum paid by Cork GAA to settle a payment dispute with an electrical contractor involved in the Páirc Uí Chaoimh rebuild.  https://www.irishexaminer.com/sport/gaa/arid-41052476.html

• ORS, one of Ireland’s leading multidisciplinary building consultancies,has announced Erisbeg, an Irish-owned investment firm, has acquired a majority stake in the company to support the next phase of its development https://irishbuildingmagazine.ie/2023/01/18/erisbeg-acquires-majority-stake-in-ors/

• Construction activity November 2022: Northern Ireland  https://www.constructionnews.co.uk/cn-intelligence/construction-activity-november-2022-northern-ireland-18-01-2023/

PROPTECH, ESG, MMC & CONSTRUCTION INNOVATION

• Proptech Ireland is updating the database of 2023 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech  or MMC business sit?  Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *https://prop-tech.ie/register/ * and email product or service details to hello@prop-tech.ie

• 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

• Here’s why we need more female fund managers: Women taking control of venture capital enables us to create a more inclusive and prosperous society that benefits us all  https://www.fastcompany.com/90817120/heres-why-we-need-more-female-fund-managers#:~:text=Increasing%20the%20number%20of%20female,to%20invest%20in%20female%20CEOs

• Opoplan Introduces Suite of Generative AI Architectural Tools for Builders and Real Estate Brokers  https://www.shorelinebeacon.com/newsfile/151405-opoplan-introduces-suite-of-generative-ai-architectural-tools-for-builders-and-real-estate-brokers

• 2023 Sees Construction Technology as Top Trend https://www.forconstructionpros.com/equipment/article/22617783/2023-sees-construction-technology-as-top-trend

• Modular without the factory: Modulous’ plan to turn offsite building on its head  https://www.building.co.uk/focus/modular-without-the-factory-modulous-plan-to-turn-offsite-building-on-its-head/5121141.article

• Construct Zero reflections from Innovate UK  https://www.pbctoday.co.uk/news/featured/construct-zero-reflections-from-innovate-uk/120058/

• Boston Dynamics Shows Incredible Video Of Robot “Working” At A “Construction Site” Is this the future of work? https://www.iflscience.com/boston-dynamics-shows-incredible-video-of-robot-working-at-a-construction-site-67172

Proptech start-up MyNestBox is gathering momentum in its mission to revolutionise the searches process for conveyancers following a successful £1.3 million seed round  https://todaysconveyancer.co.uk/searches-set-revolutionised-proptech-start-gathers-momentum/

• £350,000 cash raise for UK home moving proptech: Homemove, the platform connecting sellers, buyers and renters with vetted home moving services, is also backed by former Rightmove senior  https://thenegotiator.co.uk/320000-raise-for-home-moving-proptech-with-big-plans/

• A.I., Machine Learning, and the Built Environment Fundamentals & Proptech Applications | Planetizen Events Board https://www.planetizen.com/event/121136-ai-machine-learning-and-built-environment-fundamentals-proptech-applications

• This Berlin VC closes €44M to invest in early-stage proptech startups, targets €100M https://techfundingnews.com/this-berlin-vc-closes-e44m-to-invest-in-early-stage-proptech-startups-targets-e100m/

• Three Trends Driving Proptech Innovation—And What Other Businesses Can Learn https://www.forbes.com/sites/forbestechcouncil/2023/01/17/three-trends-driving-proptech-innovation-and-what-other-businesses-can-learn/

• Proptech VCs and Principals Swoon Over Multifamily’s Predictability: Call it ‘unit economics’ — the steadier returns have VCs investing directly and proptech companies scrambling to service properties https://commercialobserver.com/2023/01/proptech-multifamily-investment/

• Artificial intelligence is key part of CRE | Connected Real Estate Magazine https://connectedremag.com/uncategorized/artificial-intelligence-is-key-part-of-cre/

• Japanese “calm technology” company Mui Lab has unveiled the consumer-ready version of its Mui Board – a minimalist control hub for the smart home that looks like an unassuming block of wood.  https://www.dezeen.com/2023/01/16/mui-board-lab-smart-home-control-ces/

• 2023: A Year of Foreseeable Innovations, Advancements in Technology  https://www.thisdaylive.com/index.php/2023/01/16/2023-a-year-of-foreseeable-innovations-advancements-in-technology/

• US proptech VC Fifth Wall sets up first APAC office in Singapore https://www.dealstreetasia.com/stories/us-proptech-vc-fifth-wall-sets-up-first-apac-office-in-singapore-325303/

• The Coolest Home Tech Products at CES 2023: These products are sure to be the buzz for the year.  https://www.housebeautiful.com/shopping/home-gadgets/g42477992/best-of-ces-2023/

ENERGY, CLIMATE & ENVIRONMENT

• Energy body has €700m budget to carry out retrofitting works  https://www.irishexaminer.com/news/arid-41049674.html

• As part of the Climate Action Plan 2023, the Government of Ireland has pledged to reduce the carbon emissions of industry and enterprise by 35% by 2030 and is specific about reducing the clinker content of cement  – responsible for 90% of cement emissions https://irishbuildingmagazine.ie/2023/01/17/ecocem-welcomes-government-action-on-carbon-emissions/

• Power Capital Renewable Energy close multimillion euro deal to build 1.5 GW of solar assets in Ireland  https://irishtechnews.ie/power-capital-renewable-energy-close-multimillion-euro-deal-to-build-1-5-gw-of-solar-assets-in-ireland/

• Aviva pushes into insuring offshore wind and ‘hybrid’ buildings: FTSE 100 company reshapes underwriting book to try to meet climate goals  https://www.irishtimes.com/business/2023/01/16/aviva-pushes-into-insuring-offshore-wind-and-hybrid-buildings/

• A residents’ group is seeking to challenge, in the High Court, plans for a large-scale €175 million wind farm opposed by Kilkenny hurling great, Henry Shefflin.  https://www.agriland.ie/farming-news/high-court-challenge-to-kilkenny-wind-farm-on-coillte-land/

• Planned wind farms off Waterford coast raised in Dáil  https://www.wlrfm.com/news/planned-wind-farms-off-waterford-coast-raised-in-dail-287534

RESIDENTIAL PROPERTY NEWS (including PRS)

• Ireland Property Price Guide 2023: space and sea views attract wealthy buyers – Bidding wars abound as low supply bites, families fight for semis and coastal homes get snapped up  https://www.thetimes.co.uk/article/ireland-property-house-price-guide-2023-67nnvw8kd

• How much is your House worth in 2023?  https://m.independent.ie/business/personal-finance/property-mortgages/how-much-is-your-house-worth/how-to-use-how-much-is-your-house-worth-42302844.html

• House price growth slows for eighth successive month  https://www.breakingnews.ie/ireland/house-price-growth-slows-for-eighth-successive-month-1420169.html And, Property price inflation easing but median price of home still six times average income  https://www.irishexaminer.com/news/arid-41051141.html

• New Record High For Average House Price In Ireland  https://businessplus.ie/news/average-house-price-ireland/

• €198m spent on prime country homes purchased in 2022  https://www.agriland.ie/farming-news/e198m-spent-on-prime-country-homes-purchased-in-2022/

• Ireland remains an attractive place to buy property for international investors  https://www.newstalk.com/podcasts/breakfast-business/ireland-remains-an-attractive-place-to-buy-property-for-international-investors

• Ask the experts: Our panel answer the key questions about the property outlook for 2023  https://m.independent.ie/business/personal-finance/property-mortgages/how-much-is-your-house-worth/ask-the-experts-our-panel-answer-the-key-questions-about-the-property-outlook-for-2023-42302728.html

• Where are all the new home schemes in 2023? With lending relaxed and more incentives for first-time buyers, there’s never been a better time to buy a new home  https://m.independent.ie/life/home-garden/new-homes/where-are-all-the-new-home-schemes-in-2023-42301188.html

• ‘Buying a home is proving impossible’ – Meet the home hunters hoping to get a step on the ladder in 2023: Erin McCafferty talks to those preparing to contend with shortages and rising interest rates to buy this year  https://m.independent.ie/business/personal-finance/property-mortgages/how-much-is-your-house-worth/buying-a-home-is-proving-impossible-meet-the-home-hunters-hoping-to-get-a-step-on-the-ladder-in-2023-42302693.html

• Renters could save up to 50% if they paid a mortgage on the property they currently rent: Rents have increased by an average of 63% since 2015, as the annual supply of new houses needs to increase to 40,000 to avoid making the existing supply issues worse  https://www.buzz.ie/news/irish-news/housing-supply-crisis-ireland-rent-28969681.amp

• 40% of home buyers don’t need a mortgage – IPAV: Two in five buyers of homes in Ireland don’t need a mortgage to cover the cost  https://www.newstalk.com/news/40-of-home-buyers-dont-need-a-mortgage-ipav-1428272

• Under-insurance leaving thousands of householders exposed  https://www.rte.ie/news/business/2023/0122/1349784-under-insurance-leaving-householders-exposed/

• Over 1,500 social housing offers refused across the country last year: At least 420 people have been suspended from waiting lists for refusing more than one offer  https://www.newstalk.com/news/over-1500-social-housing-offers-refused-across-the-country-last-year-1422331

• Mater Hospital considers buying property to accommodate staff amid worsening housing crisis  https://m.independent.ie/irish-news/mater-hospital-considers-buying-property-to-accommodate-staff-amid-worsening-housing-crisis-42304991.html
• Cork city house prices 2023: second-hand market still below pre-pandemic level  https://www.thetimes.co.uk/article/cork-city-house-property-prices-ireland-2023-rf6sr56qm
• Wicklow councillor shares personal experience as affordable housing eligibility criteria raised: Concerns were aired at the Wicklow County Council meeting over 30 per cent allocation for local people and councillors were split on issue.  https://m.independent.ie/regionals/wicklow/news/wicklow-councillor-shares-personal-experience-as-affordable-housing-eligibility-criteria-raised-42293731.html
• Co Clare house prices 2023: interest rates key  https://www.thetimes.co.uk/article/co-clare-house-property-prices-ireland-2023-q0kjhp7wl
• North Co Tipperary house prices 2023: turnkey at a premium  https://www.thetimes.co.uk/article/north-co-tipperary-house-property-prices-ireland-2023-kxbhtgv2k
• Co Donegal house prices 2023: mica issue stifles market  https://www.thetimes.co.uk/article/co-donegal-house-property-prices-ireland-2023-l2wd6ww3d
• Property price inflation decreases in Kerry  https://www.radiokerry.ie/amp/news/property-price-inflation-decreases-in-kerry-313862
• Will renting out our mum’s house come back to bite us? Q&A: Becoming landlords will impose important obligations on you even outside of the tax issues  https://www.irishtimes.com/your-money/2023/01/15/will-renting-out-our-mums-house-come-back-to-bite-us/?
• Is it worth downsizing if I will have to pay endless apartment management fees? Property Clinic: Once I retire, I will be concerned about being asked unexpectedly for large sums by a management company. Is there a way to avoid such nasty surprises?  https://www.irishtimes.com/property/residential/2023/01/17/is-it-worth-downsizing-if-i-will-have-to-pay-endless-apartment-management-fees/
• Roy Keane buys luxury home in Ireland’s most expensive apartment development. The former Ireland and Manchester United captain and his wife agreed a deal for the Dublin 4 property just before Christmas  https://www.irishtimes.com/property/residential/2023/01/18/roy-keane-buys-luxury-home-in-irelands-most-expensive-apartment-development/
• Cork County East: 12pc hike is among Ireland’s highest  https://m.independent.ie/business/personal-finance/property-mortgages/how-much-is-your-house-worth/cork-county-east-12pc-hike-is-among-irelands-highest-42296068.html
• Galway County: Ireland’s highest inflation hits the region  https://m.independent.ie/business/personal-finance/property-mortgages/how-much-is-your-house-worth/galway-county-irelands-highest-inflation-hits-the-region-42296106.html
• Ireland’s Blue Book lighthouse, with sweeping views of the Atlantic, for sale for €4.8m: Clare Island Lighthouse, on Clew Bay, became a high-end guesthouse after its lamp was finally extinguished following 150 years of nautical service  https://www.irishtimes.com/property/residential/2023/01/19/irelands-blue-book-lighthouse-with-sweeping-views-of-the-atlantic-for-sale-for-48m/
• Bumper year for Kerry property as buyers shell out for ‘castles’ in the kingdom: €1m+ buys include home owned by Bill Cullen and Jackie Lavin, a hideaway stayed in by Bishop Eamonn Casey and Annie Murphy and those owned by the rich…and sometimes famous  https://www.irishexaminer.com/property/residential/arid-41052443.html
• Laois house prices second cheapest in Leinster  https://www.leinsterexpress.ie/news/property/1013833/laois-house-prices-second-cheapest-in-leinster.html
• Wexford renters fume over Daft listing showing ‘shed’ for €1k a month  https://extra.ie/2023/01/20/property/wexford-renters-shed
• Home: Interior designer Natasha Rocca Devine shares her secrets: A professional interiors look needn’t cost a fortune, writes Natasha Rocca Devine in her new book. We roadtest her advice  https://www.irishexaminer.com/property/homeandgardens/arid-41051051.html
• Houses must be designed to be inclusive, sustainable and future-proof’: Vaila Morrison RIBA argues why inclusive design is the key to the future of housing.  https://www.housebeautiful.com/uk/renovate/design/a42415629/inclusive-design-sustainable-future-housing/
• TOP 10 INTERIOR DESIGN TRENDS OF 2023  https://www.yankodesign.com/2023/01/15/top-10-interior-design-trends-of-2023/

COMMERCIAL PROPERTY NEWS

• Irish commercial property market could lose €10bn in value in 2023: Significant write-downs are expected in response to rising interest rates and reduced demand, while values across retail, industrial, logistics, office and residential units could fall between 10 and 20 per cent this year  https://www.businesspost.ie/news/irish-commercial-property-market-could-lose-e10bn-in-value-in-2023/

• New offices drive demand in Dublin as investors and occupiers shy away from older stock: Vacancy rate for buildings with better energy ratings sits at 6% compared to 10% for overall Dublin market https://www.irishtimes.com/property/commercial-property/2023/01/18/new-offices-drive-demand-in-dublin-as-investors-and-occupiers-shy-away-from-older-stock/

• Tech lay-offs and rising interest rates create chilly environment for Irish property investors: Significant write-downs in the value of Irish commercial property seem inevitable this year as markets adjust to the changed macro-economic environment  https://www.businesspost.ie/news-focus/tech-lay-offs-and-rising-interest-rates-create-chilly-environment-for-irish-property-investors/
  
  
  Retail property sector could outperform others in 2023  https://m.independent.ie/business/commercial-property/retail-property-sector-could-outperform-others-in-2023-42297456.html

• Tetrarch Capital seeks €17.5m for Dublin’s Dawson Hotel: 36-bedroom boutique hotel was home prior to its closure to famed La Stampa restaurant and Sam’s Bar  https://www.irishtimes.com/property/commercial-property/2023/01/18/tetrarch-capital-seeks-175m-for-dublins-dawson-hotel/

• Wright Group secures €18m from sale of South Quarter Airside: Former home of Wright Venue nightclub generating €1.3m in rental income following redevelopment  https://www.irishtimes.com/property/commercial-property/2023/01/18/wright-group-secures-18m-from-sale-of-south-quarter-airside/

• Dublin industrial investment guiding €7.9m offers buyer 7.31% yield: Unit at Cloverhill Industrial Estate comes for sale with new 15-year lease and is generating €635k in annual rental income  https://www.irishtimes.com/property/commercial-property/2023/01/18/dublin-industrial-investment-guiding-79m-offers-buyer-731-yield/

• Court rules on ownership of windows in Bewley’s café  https://amp.rte.ie/amp/1349821/

• Hatch Hall comes back to market with planning for 60-bed hotel: The landmark building is on the market for an undisclosed price, but it is believed to be about €25 million  https://www.businesspost.ie/property/hatch-hall-comes-back-to-market-with-planning-for-60-bed-hotel/

• New owners of Tulfarris Hotel and Golf Resort plan major €5million investment  https://m.independent.ie/regionals/wicklow/business/new-owners-of-tulfarris-hotel-and-golf-resort-plan-major-5million-investment-42293723.html

• Irish arm of Jones Lang LaSalle records €3.3m spike in post-pandemic revenue: Recovery at commercial real estate giant’s Irish operation after sales hit €19.4 million in total last year https://www.businesspost.ie/news/irish-arm-of-jones-lang-lasalle-records-e3-3m-spike-in-post-pandemic-revenue/

• Chance of a lift? Upward-only rent reviews at Cork city premises occupied by Anderco; Investment property with 9.6% return  is in a rapidly evolving city quarter with future redevelopment scope  https://www.irishexaminer.com/property/commercial/arid-41051570.html

• Cairn Homes seeks over €1.8m for creches at new-home schemes in Delgany and Naas: Purpose-built facilities at Archers Wood and Elsmore developments seeking €975k and €830k respectively  https://www.irishtimes.com/property/commercial-property/2023/01/18/cairn-homes-seeks-over-18m-for-creches-at-new-home-schemes-in-delgany-and-naas/

• Carton House returns to operating profit as revenues more than double: Directors of operating company for Kildare hotel cite ‘strong recovery from the pandemic’  https://www.irishtimes.com/business/2023/01/19/carton-house-returns-to-operating-profit-as-revenues-more-than-double/

• Home Store + More expected to open in Athlone next month  https://www.westmeathindependent.ie/2023/01/19/home-store-more-expected-to-open-in-athlone-next-month/

• Mayo hotels facing uncertain economic environment in 2023  https://www.con-telegraph.ie/2023/01/19/mayo-hotels-facing-uncertain-economic-environment-in-2023/

• The Anvil B&B, Bar And Restaurant Of Co. Kerry Hits The Market  https://www.hospitalityireland.com/amp/hotel/the-anvil-bb-bar-and-restaurant-of-co-kerry-hits-the-market-195870

INTERNATIONAL PROPERTY NEWS

• More Housing’s launch is a new start in the UK’s approach to the housing crisis  https://bmmagazine.co.uk/news/more-housings-launch-is-a-new-start-in-the-uks-approach-to-the-housing-crisis/?amp

• London office market collapse is stark by any measure – Sales of offices in London essentially stopped after the Truss government’s ‘mini-budget’  https://www.irishtimes.com/business/2023/01/17/london-office-market-collapse-is-stark-by-any-measure/

• Mace has replaced Laing O’Rourke on a £200m office scheme in London more than two years after it was originally beaten to the job. Timber Square scheme in London was originally supposed to finish next year  https://www.building.co.uk/news/mace-replaces-laing-orourke-on-200m-landsec-office/5121362.article

• ‘Rural influencer’ conjures up spirit of the past in Spain’s ghost towns  https://www.thetimes.co.uk/article/rural-influencer-conjures-up-spirit-of-the-past-in-spains-ghost-towns-dp97rp366

• Joshua Tree ‘Invisible House’ where Lizzo and The Weeknd have stayed on the market for $18m: The iconic mirror-walled mansion has glinting glass walls that reflect the California desert, plus a 30m indoor pool  https://www.irishtimes.com/property/residential/2023/01/20/joshua-tree-invisible-house-where-lizzo-and-the-weeknd-have-stayed-on-the-market-for-18m/

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/