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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:

  • According to a new report by leading consultants Mitchell McDermott (https://mitchellmcdermott.com/insight/), construction costs for apartment buildings rose by 9.6% in 2022, resulting in an increase of between €21,000 to €25,000 per 2-bed apartment. The total cost for a mid-range suburban 2-bed apartment is now estimated to be over €460,000. The report also found that construction inflation for commercial offices rose by 12% but is expected to moderate to between 5% and 7% in 2023. Furthermore, the report revealed a 79% drop in the number of judicial reviews taken against Strategic Housing Developments (SHDs) last year, but due to a backlog at An Bord Pleanála, 59% of 2022 SHD applications have yet to be decided upon, stalling the future of 29,000 housing units. Mitchell McDermott is calling for planners to be drafted in to clear the backlog. Between 2018 and 2022, a total of 31,000 units were subjected to judicial reviews, 10,727 have been quashed, and 17,805 are still awaiting a decision from the courts. Additionally, 28,000 units with planning permission have not yet commenced, with half of those due to viability issues. Paul Mitchell, one of the authors of the report, stated that while 2022 was a year of two halves, there are signs that the current inflationary cycle may be coming to an end. He also emphasized the need for additional resources and workers in the construction industry in order to push inflation lower and increase apartment output. The report author also highlighted the importance of addressing the planning system in order to scale up supply and meet housing targets. Also: ‘In an emergency you take radical action and housing is an emergency’: The Government needs to bite its tongue and take dramatic action if the ongoing crisis is to end, Paul Mitchell, of construction experts Mitchell McDermott say https://www.independent.ie/business/irish/in-an-emergency-you-take-radical-action-and-housing-is-an-emergency-42317285.html

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

A vision for Dublin, despite a “broken and dysfunctional” planning system

On ‘Breaking Ground’ on iPropertyRadio.com this week, Carol Tallon chats to  Tony Reddy, Chairman Reddy Architecture + Urbanism  about why the Irish planning system is no longer functioning effectively to meet the needs of our society; why European planning practice should be our vision for the future; and the impact of a poorly functioning planning system on Ireland’s ability to attract Foreign Direct Investment.

“Communities are increasingly concerned; developers, architects and planners frustrated, and politicians under constant pressure due to issues arising from almost every development proposal, particularly for new housing schemes…”

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

Expansion through partnership: Proptech collaboration to drive industry improvements 

In the iPropertyRadio.com Proptech Hot Seat with host Carol Tallon this week are Oli Fargo, CEO of Coyote, and Peter Rose, Director of Forbury and Head of UK, to discuss their strategic partnership and what this new offering means for portfolio owners.

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

Produced by Hear Me Roar Media https://hearmeroarmedia.com

*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

CONSTRUCTION & DEVELOPMENT NEWS

  • Residents take High Court action over plans for apartments in Donnybrook, Dublin https://www.breakingnews.ie/ireland/residents-take-high-court-action-over-plans-for-apartments-in-donnybrook-dublin-1423233.html
  • Permission refused for Douglas apartment complex proposal: Nine submissions or objections were made in relation to the plans, including from Inland Fisheries Ireland, Transport Infrastructure Ireland, and Irish Water. https://www.echolive.ie/corknews/arid-41059088.html

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

ENERGY, CLIMATE & ENVIRONMENT

RESIDENTIAL PROPERTY NEWS (including PRS)

COMMERCIAL PROPERTY NEWS

INTERNATIONAL PROPERTY NEWS

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/

How to buy property in ireland

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