WEEKLY PROPERTY ROUND-UP MARCH 19TH, 2023

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:

The National Construction Summit 2023 kicks off on Tuesday morning (21st March) at the Sports Ireland Campus, Blanchardstown and Property District is delighted to be running Modern Methods of Construction stage. Check out the speaker line-up here: https://www.nationalconstructionsummit.ie/ 
Also, our panel of MMC Ireland experts will be taking part in an important event on the main stage from 12pm: 

*Voices of Ireland’s MMC Sector: Priorities and Perspectives for a Sustainable Future*

Panelists include: Pat Kirwan, Director & Head of MMC Delivery at C+W O’Brien Architects ; Nicola McKay, Studio Director & Regional Lead at HLM Architects; Ronan Lonergan MRIAI, Technical (Design) Lead at Cairn Homes plc and Eoin Waldron, General Manager at Castle Modular.  This panel will be moderated by Carol Tallon, CEO at Ireland’s Property District 
Register to attend the Summit: https://www.nationalconstructionsummit.ie/register/

• €4.7bn invested in Irish real estate last year despite ‘turbulence’ in global economy: Sherry FitzGerald highlights another strong year for property investment while warning of impact of higher interest rates  https://www.irishtimes.com/business/2023/03/14/47bn-invested-in-irish-real-estate-last-year-despite-turbulence-in-global-economy/

• “I warned of a property crash in 2007 – will it happen again?”: At the high point of the Celtic Tiger, Richard Curran presented Future Shock: Property Crash on the prospect of a massive drop in house prices. Now he asks whether history will repeat itself — or are we facing a different crisis?  https://m.independent.ie/business/personal-finance/property-mortgages/richard-curran-i-warned-of-a-property-crash-in-2007-will-it-happen-again-42390488.html

• ‘Jury is out’ on whether State will increase house building this year, says Tánaiste: Micheál Martin says a corner has been turned on housing.  https://www.thejournal.ie/jury-still-out-housing-micheal-martin-6019828-Mar2023/

• The housing crisis – solutions and political accountability: A fluid housing market must be dynamic and responsive  https://www.irishtimes.com/opinion/letters/2023/03/15/the-housing-crisis-solutions-and-political-accountability/

• Nearly 27,000 new homes to be delivered this year, BPFI predicts  https://www.rte.ie/news/business/2023/0314/1362006-27-000-new-homes-to-be-delivered-this-year-bpfi/ Also: Housing output still well off the mark despite positive signs: Completions expected to flatline this year after jumping in 2022  https://www.irishtimes.com/business/2023/03/14/housing-output-still-well-off-the-mark-despite-positive-signs/

• Local authorities around the country will be pressured to buy homes with tenants in-situ as Tánaiste Micheál Martin admits there has been resistance to the scheme.  https://www.irishexaminer.com/news/arid-41095234.html

• Tánaiste: tax treatment of small landlords is ‘not fair’: Martin tells Business Post government working to ‘shift the balance’ in rental market https://www.businesspost.ie/news/tanaiste-tax-treatment-of-small-landlords-is-not-fair/

• Tax breaks for renters and landlords on the table after lifting of eviction ban  https://m.independent.ie/irish-news/politics/tax-breaks-for-renters-and-landlords-on-the-table-after-lifting-of-eviction-ban-42382550.html Also: Strong cross-party support for expansion of State scheme to buy properties from landlords: Some politicians advocate allowing Approved Housing Bodies to buy properties from private landlords for cost-rental tenancie  https://www.irishtimes.com/politics/2023/03/12/strong-cross-party-support-for-expansion-of-state-scheme-to-buy-properties-from-landlords/

• Micheál Martin rules out landlord tax breaks ahead of Budget: Tánaiste says government will avoid ‘knee-jerk’ reactions when considering incentives to stem the flow of landlords out of rental sector  https://www.businesspost.ie/news/micheal-martin-rules-out-landlord-tax-breaks-ahead-of-budget/

• Paschal Donohoe says increase in apartment output justifies tax breaks for REIT funds: Public Expenditure Minister credits institutional investors with the ‘dramatic’ rise in the number of apartments being built  https://www.irishexaminer.com/news/politics/arid-41091361.html

• Local authorities given allocations for 1,500 tenant-in-situ purchases: Dublin local authorities will be able to buy more than half of the total allocation  https://www.irishtimes.com/ireland/housing-planning/2023/03/12/local-authorities-given-allocations-for-1500-tenant-in-situ-purchases/

• Land Development Agency chief ‘confident’ of 1,000 cost rental home deliveries by end of next year: Lottery for first phase of 22 homes in a scheme of 95 launched at Citywest  https://www.irishtimes.com/ireland/housing-planning/2023/03/13/land-development-agency-chief-confident-of-1000-cost-rental-home-deliveries-by-end-of-next-year/

• Ireland’s unstarted homes and the various roles of the State: We know we need homes. The question now is whether the State will take on the roles needed to make those homes a reality.  https://thecurrency.news/articles/112747/irelands-unstarted-homes-and-the-various-roles-of-the-state/

• Council cannot enter derelict private buildings to inspect them: A TD asked if the Council had done internal inspections, in conjunction with Gardai, “of all properties on their Derelict Sites Register given the tragic incident uncovered in Mallow?” https://www.echolive.ie/corknews/arid-41096350.html

• Defective concrete blocks in Donegal ‘not caused by mica’, study claims: Research published in leading international journal suggests issue has been caused by pyrrhotite  https://www.irishtimes.com/ireland/2023/03/15/defective-concrete-blocks-in-donegal-not-caused-by-mica-study-claims/

• Pyrite found at Limerick’s council headquarters  https://www.limerickleader.ie/news/home/1061921/pyrite-found-at-limerick-s-council-headquarters.html

• Nothing has come of minister’s plea to the Catholic Church for land to address housing crisis at either local or state level: There is little evidence to show that the proposal ever resulted in formal engagement between any diocese and state agencies  https://m.independent.ie/irish-news/nothing-has-come-of-ministers-plea-to-the-catholic-church-for-land-to-address-housing-crisis-at-either-local-or-state-level-42382555.html

• Finance Ireland hikes interest rates above 6pc for key fixed mortgages  https://m.independent.ie/business/irish/finance-ireland-hikes-interest-rates-above-6pc-for-key-fixed-mortgages-42383880.html

• Collapse of US banks could lead to a rethink on ECB’s interest rate hikes: Uncertainty in money markets has been triggered by the demise of Silicon Valley Bank and Signature Bank  https://m.independent.ie/business/personal-finance/property-mortgages/collapse-of-us-banks-could-lead-to-a-rethink-on-ecbs-interest-rate-hikes-42384640.html Also: Cliff Taylor: There are echoes now of the run-up to the 2008 crash: Silicon Valley Bank and Credit Suisse have sent tremors around the world, but experts believe European banks should be able to weather what is ahead  https://www.irishtimes.com/opinion/2023/03/18/cliff-taylor-out-of-the-blue-the-global-banking-system-looks-a-little-wobbly/

• What I learnt… about commercial property: Tom Castro launched Whozoo to create top-quality agents and in turn improve the service to landowners  https://www.thetimes.co.uk/article/what-i-learnt-about-commercial-property-d0lp78276

• Builders had ‘no idea’ they had demolished mural by Banksy: ‘We were gutted’ https://m.independent.ie/world-news/europe/britain/builders-had-no-idea-they-had-demolished-mural-by-banksy-we-were-gutted-42388885.html

• The road to Zanzibar: The life of publican, hotelier, innovator, and gentleman Liam O’Dwyer: Maximalist in taste and vision, the late Liam O’Dwyer created emporiums rather than pubs, from Cafe en Seine to The George. Tom Lyons profiles a man who defined nightlife for a generation of Dubliners.  https://thecurrency.news/articles/112932/the-road-to-zanzibar-the-life-of-publican-hotelier-innovator-and-gentleman-liam-odwyer/

• Work experience students in Louth could be in with a chance to win €400 – ‘Constructing Your Future’ video competition https://www.dundalkdemocrat.ie/news/home/1062293/work-experience-students-in-louth-could-be-in-with-a-chance-to-win-400.html

• 10 Irish owned hotels in London and the UK  https://www.boutiquehotelier.com/irish-owned-hotels-in-london-and-the-uk/

• The Anglosphere needs to learn to love apartment living: Housebuilding rates in English-speaking states have fallen behind the rest of the developed world  https://www.ft.com/content/dca3f034-bfe8-4f21-bcdc-2b274053f0b5

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

We are excited to share the growth of iPropertyRadio!  What started as #PropertyMatters, a 60-minute weekly show on Dublin South FM 93.9FM over 4 years ago, has now evolved into a global online station for the best construction, urban planning, property and proptech content. Check out our website, iPropertyRadio.com, brought to you by Hear Me Roar Media for live and recorded access to all the week’s built environment news.

Want to have your industry podcast included or be a guest on our shows? Reach out to us at hello@ipropertyradio.com. Last year, we hit a massive 7.5 million digital impressions across our brands and this figure is growing – Q4 2022/Q1 2023 we now have an  average of 765,876 digital impressions each month, not including radio listenership and website visits. Huge thanks to all of you for your continued support!

This week on iPropertyRadio…

National Construction Summit Special

*Modern Methods of Construction*

On ‘Breaking Ground’ on iPropertyRadio.com this week: Fergal Lalor, managing director at Lalor Consultancy.

Fergal joined us to discuss Modern Methods of Construction is a real contributor to the Construction Industry and also what are the step changes that are required to improve on the use of MMC in the marketplace. Join Fergal at the National Construction Summit 2023 this Tuesday, the 21st of March!

*Project Controls: National Construction Summit 2023*

On ‘Breaking Ground’ on iPropertyRadio this week, Paul Kirwan, Director at Global GCS Consulting, a consulting firm specialising in project controls.

Project controls involve managing the resources, costs, schedules, and risks of a project to ensure its success. Learn more from Paul Kirwan at the National Construction Summit next Tuesday, March 21st!

*Opportunities for Irish construction companies to deliver data centres globally *

Irish companies design, build and operate  four times  the number of data centres internationally than in Ireland. This week on ‘Breaking Ground’ on iPropertyRadio.com  host Carol Tallon chats to Garry Connolly, Founder of Host in Ireland to learn what attendees to the National Construction Summit 2023 can expect to hear from the Data Centres stage and to explore the challenges and opportunities ahead for the sector.

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

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

PLACEMAKING

OPEN PUBLIC CONSULTATIONS AND COMMUNITY ENGAGEMENT

• Ag crúthú Luach Sóisialta  Trí Comhforbairt Áite (Creating Social Value Through Placemaking) 👉https://placeengage.com/ag-cruthu-luach-soisialta-tri-comhforbairt-aite/

• Why low-rise, medium-density housing would be a game changer for the housing crisis: The Minister for Housing has committed to introducing new low-rise, medium-density housing standards. Architect Tony Reddy explains why this is a major step forward  https://www.businesspost.ie/property/why-low-rise-medium-density-housing-would-be-a-game-changer-for-the-housing-crisis/

• Eamon Ryan says ‘transport-led development’ could ‘help solve the housing crisis’: Ryan was speaking after a tour of a high-speed rail station in Hong Kong.  https://www.thejournal.ie/eamon-ryan-says-transport-led-development-could-help-solve-the-housing-crisis-6018867-Mar2023/

• New plans for Capel Street feature a floating halo and more outdoor seating  https://lovindublin.com/news/capel-street-plans

• This will resonate with so many people: ‘Dear Dublin, it’s not me, it’s you. And that’s why I’m leaving. Out-of-reach house prices combined with €16 for hot chocolate and a bun have shown me it’s time to go’ https://www.irishtimes.com/health/your-family/2023/03/13/dear-dublin-its-not-me-its-you-and-thats-why-im-leaving/

• Local Property Tax funding ‘detrimental’ to Dublin, claims city council finance chief: Funding model raised citizens’ expectations but reduced council cash for services, Kathy Quinn tells councillors  https://www.irishtimes.com/ireland/dublin/2023/03/17/local-property-tax-funding-detrimental-to-dublin-claims-city-council-finance-chief/

• Irish cabinet reaches agreement for Dart+ South West project: Dublin’s electrified high-frequency commuter network will be extended to stations in Kildare.  https://www.railjournal.com/passenger/commuter-rail/irish-cabinet-reaches-agreement-for-dart-south-west-project/

• Dublin runway noise row will also drain Fingal planning resources, expert warns Dublin Airport https://m.independent.ie/business/irish/dublin-runway-noise-row-will-also-drain-fingal-planning-resources-expert-warns-42393565.html

• New Cork city pocket park will ‘regenerate the area’: Eoin Kelleher hears about plans for an urban park on a pocket of land near Kent Station  https://www.echolive.ie/corknews/arid-41091319.html

• Planning granted for multi-million Crawford Art Gallery regeneration in Cork: €29m investment in the Cork art gallery will increase gallery space by 45%  https://www.irishexaminer.com/news/munster/arid-41094112.html

• Cork’s Victorian Quarter business group is planning to create a new design guide on street furniture and urban greening that may transform the area around MacCurtain street for years to come.  https://www.echolive.ie/corknews/arid-41091994.html

• Council asked to consider ‘meanwhile use’ of vacant sites along city’s quays: Labour councillor John Maher put forward a motion calling on the local authority to “address the dereliction of the city’s quay areas, including Patrick’s Quay”, and, while forming the plan, that the space would be used to create “green and public spaces”.  https://www.echolive.ie/corknews/arid-41095768.html

• Proposals for Waterford to Mallow Greenway revealed  https://www.wlrfm.com/news/proposals-for-waterford-to-mallow-greenway-revealed-296656

• Galway city council among local authorities with no capacity for emergency housing https://galwaybayfm.ie/galway-bay-fm-news-desk/galway-city-council-among-local-authorities-with-no-capacity-for-emergency-housing/

• Shock at rejection of Marine Park project in West Connemara  https://galwaybayfm.ie/galway-bay-fm-news-desk/shock-at-rejection-of-marine-park-project-in-west-connemara/

• Majority of people surveyed want Persse Distillery to become cultural space  https://connachttribune.ie/majority-of-people-surveyed-want-persse-distillery-to-become-cultural-space/

• Public consultation underway for city road closures to facilitate outdoor dining  https://connachttribune.ie/public-consultation-underway-for-city-road-closures-to-facilitate-outdoor-dining/

• Spend the Night in the Ancestral Home of a Legendary Pirate Queen: Ireland’s Ballynahinch Castle has history—and views for days.  https://www.thrillist.com/amphtml/travel/nation/visit-ballynahinch-castle-galway-ireland

• A digital rendering of how Waterford city centre’s new Sustainable Transport Bridge will look upon its completion attracted over 9,500 online hits in five days.  https://waterford-news.ie/2023/03/14/digital-render-of-new-bridge-attracts-over-9500-views/

• 1,800 tonnes of raw sewage enters the Clare coastline daily.  https://www.clareecho.ie/1800-tonnes-of-raw-sewage-entering-clare-coastline-daily/

• South Kerry Greenway will take 3 years to complete https://www.agriland.ie/farming-news/south-kerry-greenway-will-take-3-years-to-complete/

• See Something, Say Something rolled out in Dingle and Listowel  https://www.radiokerry.ie/amp/news/see-something-say-something-rolled-out-in-dingle-and-listowel-322071

• Meath group turns invasive cherry laurel into biofuel  https://www.rte.ie/news/2023/0318/1363792-group-turns-invasive-species-into-biofuel/

• Forget the conspiracies, 15-minute cities will free us to improve our mental health and wellbeing  https://theconversation.com/forget-the-conspiracies-15-minute-cities-will-free-us-to-improve-our-mental-health-and-wellbeing-200823

• Montana ranks as the most Irish state west of Pennsylvania. About 145,000 people, just under 14 percent of the state’s population, claim Irish ancestry according to recent U.S. Census data.  https://billingsgazette.com/opinion/columnists/lawrence-w-reed-let-s-make-montana-look-like-ireland/article_5129ed37-9af6-5e72-86ac-00836fe7271d.html

CONSTRUCTION & DEVELOPMENT NEWS

• New planning guides aim to cut urban home parking spaces – Government policy aims to reduce car ownership in areas where alternative transport is available https://www.businesspost.ie/news/new-planning-guides-aim-to-cut-urban-home-parking-spaces/

• Housing pipeline ‘encouraging’ but downside risks to supply remain: Number of new homes to slip back to pre-Covid levels this year with 27,000 units expected to be completed  https://www.irishtimes.com/business/2023/03/14/housing-pipeline-encouraging-but-downside-risks-to-supply-remain/

• BNP Paribas Real Estate Ireland Construction PMI: “More importantly, the forward-looking data are pointing in a distinctly positive direction. New order books are expanding and, through their words and actions, building firms appear to be confident that this will be sustained.” https://www.irishrealestate.news/bnpre-ireland-construction-pmi/

• Flexible working in the construction and engineering sector requires an approach that suits individuals’ and business’ needs; and what works for an office based role may not work for operational teams https://www.newcivilengineer.com/uncategorized/flexible-working-in-the-construction-sector-requires-flexible-thinking-13-03-2023/

• Lioncor construction company chief executive John Maxwell, has pointed to long delays in securing planning permission, with a huge backlog of cases at An Bord Pleanála, and ongoing judicial review challenges to large housing developments.  https://www.irishexaminer.com/news/arid-41093329.html

• National Concert Hall upgrade under review after €100m cost hike – PwC to evaluate renovation project’s value for money as cost estimates rise from €80 million to €180 million  https://www.businesspost.ie/news/national-concert-hall-upgrade-under-review-after-e100m-cost-hike/

• Developer can defend challenge to planning permission after Bord Pleanála concedes, court rules: Ballyboden Tidy Town Group’s action concerns approval for 241 apartments near the Dublin mountains  https://www.irishtimes.com/business/2023/03/14/developer-can-defend-challenge-to-planning-permission-after-bord-pleanala-concedes-court-rules/

• Further hearing required in High Court case over permission for South Circular Road development: US property group Hines had said it “looks forward to the swift conclusion of the proceedings”  https://www.irishtimes.com/business/2023/03/13/further-hearing-required-in-high-court-case-over-permission-for-south-circular-road-development/

• Planning application for north Dublin data centre withdrawn – No information provided as to why the application has been withdrawn  https://www.irishtimes.com/business/2023/03/14/planning-application-for-north-dublin-data-centre-withdrawn/

• DAA wins appeal over €5 million planning contribution demand from Fingal County Council: The contribution concerns a proposed development to replace airport parking for 13 aircraft which was removed due to the works on the north runway.  https://www.thejournal.ie/dublin-airport-daa-fingal-county-council-6021571-Mar2023/

• Fifteen acres near Clonee with commercial potential guiding €4.3m: Zoning of development land brought to the market by Coonan Property allows for a range of industrial and commercial uses  https://www.businesspost.ie/property/fifteen-acres-near-clonee-with-commercial-potential-guiding-e4-3m/

• No start on 2,500 apartments with planning permission in Cork City: Council to discuss potential emergency responses to the anticipated tsunami of evictions expected following the lifting of the eviction ban  https://www.irishexaminer.com/news/munster/arid-41094091.html

• Cork City Council to dispose of second landbank opposite Apple HQ: Council coffers boosted by over €3.1m after sales of two lots in past year to IDA for strategic reasons  https://www.irishexaminer.com/news/munster/arid-41092372.html

• Contractors with ‘poor record’ free to tender for Galway City Council work  https://connachttribune.ie/contractors-with-poor-record-free-to-tender-for-galway-city-council-work/[in the UK: Poorly performing contractors in the UK barred from bidding for work: National Highways is “extremely likely” to stringently assess the performance of suppliers on its new £30bn major framework, according to the roads body’s head of procurement  https://www.constructionnews.co.uk/civils/national-highways-poorly-performing-contractors-barred-from-bidding-for-work-13-03-2023/ ]

• Construction of phase one of Merlin Park’s new Outpatient Department has begun  https://galwaybayfm.ie/galway-bay-fm-news-desk/construction-of-phase-one-of-merlin-parks-new-outpatient-department-has-begun/

• Planning refused for Oranmore apartments near shopping centre  https://www.galwaydaily.com/news/housing/planning-refused-for-oranmore-apartments-near-shopping-centre/

• Builder sought for housing and apartment plan in Limerick  https://www.limerickleader.ie/news/home/1061742/builder-sought-for-housing-and-apartment-plan-in-limerick.html

• Development of a new Tesco superstore overlooking Cavan Town has been delayed by a request for further information in the planning process https://www.anglocelt.ie/2023/03/16/tesco-superstore-planning-delayed/

• Planning sought for Kinvara housing estate  https://www.galwaydaily.com/news/housing/planning-sought-for-kinvara-housing-estate/

• Apartments being planned for the centre of Naas  https://www.kildarenow.com/news/home/1059451/kildare-apartments-being-planned-for-the-centre-of-naas.html

• A planning application to build seven houses at a site on the outskirts of Naas has been turned down by the planning appeals board.  https://www.kildarenow.com/news/home/1060378/plan-for-new-houses-in-kildare-is-rejected.html

• Kildare County Council has refused planning permission to controversial plans for a six storey 158 bedroom hotel for Kildare town.  https://kildare-nationalist.ie/2023/03/15/council-refuses-permission-for-six-storey-hotel-in-kildare/

• Kildare-based cladding business invests €1.3 million in new branch  https://www.kildarenow.com/news/home/1061707/kildare-based-cladding-business-invests-1-3-million-in-new-branch.html

• Longford County Council planners are set to make a decision on a application regarding quarrying in Killoe. The application by Blessington Stone & Concrete Plant Hire (Rhyne Rock) relates to their site at Rhine, Killoe, Longford https://www.longfordleader.ie/news/home/1056301/decision-due-on-longford-quarry.html

• Escalating construction costs impact Longford regeneration project  https://www.longfordleader.ie/news/home/1063059/escalating-construction-costs-impact-longford-regeneration-project.html

• Concerns over the redevelopment of three Traveller housing sites in south Dublin  https://m.independent.ie/regionals/dublin/dublin-news/concerns-over-the-redevelopment-of-three-traveller-housing-sites-in-south-dublin-42390484.html

• Saint-Gobain Ireland has announced the appointment of Kieran Holohan as its new Managing Director. Kieran will begin his tenure as Managing Director on 1 May, 2023, succeeding Pádraig Barry on his retirement.  https://irishbuildingmagazine.ie/2023/03/16/kieran-holohan-appointed-managing-director-of-saint-gobain-ireland/

• Eddie McGillycuddy started out building industrial facilities. His company is now working on vaccine plants: Eddie McGillycuddy’s Glencar has honed its construction skills on warehouse and industrial facilities for the likes of Ocado. However, it has since diversified into student accommodation and offices. It now expects them to hit between £550m and £600m this year.  https://thecurrency.news/articles/112919/eddie-mcgillycuddy-started-out-building-industrial-facilities-his-company-is-now-working-on-vaccine-plants/

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

• As the demand for new housing remains extremely high and recruitment into the trades remains challenging, AMTCE (Advanced Manufacturing Training Centre of Excellence) is delighted to announce a one-day course exclusively for women in 3D concrete printing (3DCP) TOMORROW, March 20, 2023, at the HTL facility in Drogheda.  https://www.engineersireland.ie/Engineers-Journal/News/women-only-course-in-3d-concrete-printing-unveiled-in-drogheda

• Can investment in proptech startups increase housing supplies and meet CO2 reduction goals?  https://tech.eu/2023/03/07/can-investment-in-proptech-startups-increase-housing-supplies-and-meet-climate-goals/

• Technology is continuing to change the way real estate agents operate, but the huge increase in new PropTech should be seen as an opportunity and not something to fear  https://eliteagent.com/proptech-is-not-something-for-agents-to-fear/

• Beagel’s custom offer management is more than it promises: Proptech Review  👉 https://www-inman-com.cdn.ampproject.org/c/s/www.inman.com/2023/03/17/beagels-custom-offer-management-is-more-than-it-promises-tech-review/amp/

• PODCAST: CREtech CEO Michael Beckerman On Why Much Of The Pain In Startup World Is Healthy  https://www.bisnow.com/new-york/news/proptech/michael-beckerman-117934

• PropTech start-up wants to fix “broken” rental sector  https://www.lettingagenttoday.co.uk/breaking-news/2023/3/proptech-start-up-wants-to-fix-broken-rental-sector?source=newsticker

• The construction industry is primed for a digital future, but the keys to success are implementation, distribution, and workforce buy-in. How best can organisations embrace this new technology? https://www.cadalyst.com/collaboration/digital-twin/embracing-construction%E2%80%99s-digital-opportunity-79731

• Integrating BIM and Geospatial Technologies in the Construction Supply Chain  https://www.geospatialworld.net/prime/bim-geospatial-technologies-construction-supply-chain/

• How Mobile Apps are Changing Construction Profitability?  https://www.whatech.com/og/markets-research/construction/745397-how-mobile-apps-are-changing-construction-profitability/amp

• Tech survey reveals construction’s need for digital solutions: Almost two thirds of construction professionals see digital technology as a significant aspect of their future work, new research has found https://www.construction-europe.com/news/tech-survey-reveals-constructions-need-for-digital-solutions/8027378.article

• Power of autonomy, data and reality capture is the cornerstone of a more productive building industry. Mike Chawaga, CEO of Robotic Imaging, writes about how digital 3D modeling software elevates the architecture, engineering, and construction industries https://www.digitaljournal.com/pr/news/robotic-imaging-game-changing-technology-elevating-the-smart-cities-and-the-building-industry#ixzz7vsE7Cs6h

• AI has ‘become a cost of entry’ for real estate  https://placetech.net/analysis/ai-has-become-a-cost-of-entry-for-real-estate/

• New AI tool aims to create better and faster property listings  https://www.estateagenttoday.co.uk/breaking-news/2023/3/new-ai-tool-aims-to-create-better-and-faster-property-listings

• Bentley and WSB launch digital construction management solution  https://www.gim-international.com/content/news/bentley-and-wsb-launch-digital-construction-management-solution

• Outlook on the PropTech Global Market to 2030 – Players Include Ascendix Technologies, Zumper, Opendoor, Altus, Guesty and HoloBuilder  https://www.globenewswire.com/news-release/2023/03/13/2625993/0/en/Outlook-on-the-PropTech-Global-Market-to-2030-Players-Include-Ascendix-Technologies-Zumper-Opendoor-Altus-Guesty-and-HoloBuilder.html

• Proptech solution launched for build-to-rent schemes  https://www.thebusinessdesk.com/news/1043049-proptech-solution-launched-for-build-to-rent-schemes

• Proptech: Sights From the MIPIM 2023 Real Estate Convention in Cannes – Commercial Observer https://commercialobserver.com/2023/03/mipim-2023-photos/

• 5 Questions With MetaProp’s Aaron Block at MIPIM  https://commercialobserver.com/2023/03/aaron-block-metaprop-mipim/

• Proptech’s Hot Takes On SVB’s Bank-Run-and-Done Shocker: Real estate startup experts survey the damage, vent their anger, and look to future financial fireproofing  https://commercialobserver.com/2023/03/proptech-svb-fallout-reaction/

• While 2023 does not look like a perfect time to invest in real estate, the volatile macro-economic environment could hold attractive opportunities for proptech investors – if they look in the right direction  https://www.propertyweek.com/comment/ascendixs-wes-snow-on-which-proptech-trends-will-bring-returns-in-2023/5124201.article

• Women changing the face of PropTech in Australia  https://eliteagent.com/women-changing-the-face-of-proptech-in-australia/

• 99 Group, a Singapore-based proptech firm, has raised US$11 million in a series C extension round co-led by OCBC NISP Ventura and existing investor Gaw Capital Partners  https://www.techinasia.com/99-group-grabs-another-11m-in-series-c-extension

ENERGY, CLIMATE & ENVIRONMENT

• The above infographic – created by ‘Saving Nature’ – shows the combination of per capita emissions and the multiplicative effects of our growing population.

• 2030 is just seven years away: property owners must focus on reducing embodied carbon now, experts say  https://thefifthestate.com.au/innovation/materials/2030-is-just-seven-years-away-property-owners-must-focus-on-reducing-embodied-carbon-now-experts-say/

• The European Parliament has adopted measures to improve the energy efficiency of buildings across the EU. The proposals seek to ensure that all new buildings produce zero emissions from 2028 onwards and ensure minimum energy ratings for existing residential buildings from 2030.  https://amp.rte.ie/amp/1362052/

• Irish wind farms generate 42% of electricity in February: Driven by wind’s strong performance average prices on the wholesale electricity market fell to their lowest point since November 2022   https://www.energylivenews.com/2023/03/17/irish-wind-farms-generate-42-of-electricity-in-february/

• Govt’s climate and energy poverty plans lack ambition, say Friends of the Earth  https://www.rte.ie/news/environment/2023/0315/1362278-energy-poverty/

• Renewables firm Amarenco sells 30pc stake in €300m deal: The company focuses on solar energy and battery storage projects and employs 200 people  https://m.independent.ie/business/irish/renewables-firm-amarenco-sells-30pc-stake-in-300m-deal-42386296.html

• TECHNOLOGY: Energy from data centre harnessed to heat swimming pools  https://www.thetimes.co.uk/article/energy-from-data-centre-harnessed-to-heat-swimming-pools-mg0zpj8xg

• Controversial Galway windfarm plan decision due amidst local opposition to 185-metre high turbines: The turbines would loom over tourist hotspots according to submissions  https://www.galwaybeo.ie/news/ireland-news/controversial-galway-windfarm-plan-decision-8265383

RESIDENTIAL PROPERTY NEWS (including PRS)

• House price growth in Ireland is falling, will it turn negative? Property industry says prices will continue to grow as higher interest rates send global markets into reverse  https://www.irishtimes.com/business/2023/03/16/house-price-growth-is-falling-will-it-turn-negative/

• Americans lead the charge among international buyers for high-end Irish homes: The feeling of safety, better-value education and stunning scenery are attracting diaspora and others to settle in Ireland  https://www.irishtimes.com/property/residential/2023/03/16/americans-lead-the-charge-among-international-buyers-for-high-end-irish-homes/?

• Private investor seeks €18.25m for Dublin docklands apartment portfolio: Average of €651,785 per unit being sought for 28 rental units in Grand Canal Dock area  https://www.irishtimes.com/property/commercial-property/2023/03/15/dublin-docklands-apartment-portfolio-guiding-at-1825m/?

• [INSTITUTIONAL]* funds and the State snap up 42pc of new homes as first-time buyers feel the squeeze https://m.independent.ie/business/personal-finance/property-mortgages/cuckoo-funds-and-the-state-snap-up-42pc-of-new-homes-as-first-time-buyers-feel-the-squeeze-42388816.html*INCORRECT TERMINOLOGY REMOVED

• Build social homes before winding down leasing scheme, Govt urged  https://www.rte.ie/news/ireland/2023/0315/1362285-long-term-leases/

• Worst case scenario for Irish mortgage borrowers just got a little easier  https://www.thetimes.co.uk/article/worst-case-scenario-for-irish-mortgage-borrowers-just-got-a-little-easier-mhgbrns9n

• Average rents for new tenancies see 6.7% year-on-year increase: That’s according to the RTB’s Rent Index, which compared new rents in Q3 of 2022 to the same period in 2021.  https://www.thejournal.ie/average-rents-for-new-tenancies-see-6-7-year-on-year-increase-6021039-Mar2023/

• Average rent in Cork rises to €1,413 while rents in Limerick soar by 15.7%: Housing and renting crisis accelerates again as renters in Cork, Waterford and Limerick under increasing pressure  https://www.corkbeo.ie/news/local-news/average-rent-cork-rises-1413-26484633.amp

• Kerry recorded a 16.5% year on year growth in rent for new tenancies in the third quarter of last year.  https://www.radiokerry.ie/news/kerry-recorded-highest-year-on-year-increase-for-rent-in-new-tenancies-in-third-quarter-of-last-year-322493

• Less than half of renters have claimed tax credit introduced in budget: https://www.breakingnews.ie/amp/ireland/less-than-half-of-renters-have-claimed-tax-credit-introduced-in-budget-1446901.html

• Cost-rental schemes attract 400 applications in first 24 hours: Applications for homes in Dublin and Wicklow, significantly below market rents, remain open until Monday  https://www.irishtimes.com/ireland/dublin/2023/03/14/cost-rental-schemes-attract-400-applications-in-first-24-hours/

• HAP renters to face anti-fraud checks and ‘robust controls’: Housing Assistance Payment oversight group says increases in tenant income are not routinely tracked and collated https://www.businesspost.ie/politics/hap-renters-to-face-anti-fraud-checks-and-robust-controls/

• Cork County Council must ‘get the finger out’ if it needs vacant housing officers: Junior minister Kieran O’Donnell was responding in the Dáil when Cork East TD David Stanton said he was ‘amazed’ the local authority had not applied for the funding  https://www.irishexaminer.com/news/munster/arid-41091322.html

• Balance and perspective are needed towards landlords https://m.independent.ie/opinion/letters/balance-and-perspective-are-needed-towards-landlords-42384712.html

• New crackdown on rogue landlords after UCC area problems: Residential Tenancies Board said a new enforcement regime will kick in this year, and confirmed it had offered to meet the Magazine Road residents in Cork soon https://www.irishexaminer.com/news/munster/arid-41093791.html

• Owners of thousands of Airbnb properties in rental hotspots have no planning permission: Councils say many hosts have not applied to run short-term lets  https://m.independent.ie/irish-news/owners-of-thousands-of-airbnb-properties-in-rental-hotspots-have-no-planning-permission-42392971.html

• Are you a landlord looking to sell? Here are some costs to budget for: With the end of the eviction ban looming, landlords can once again look at selling their properties  https://www.irishtimes.com/your-money/2023/03/14/are-you-a-landlord-looking-to-sell-here-are-some-costs-to-budget-for/

• Campaigners seek reform of retrofit supports that ‘favour wealthy’: Report says transforming the worst performing dwellings into energy-efficient homes could lift people out of energy poverty https://m.independent.ie/news/environment/campaigners-seek-reform-of-retrofit-supports-that-favour-wealthy-42386650.html

• Three-bed penthouse apartment in former Victorian convent for €850k: This duplex apartment within the Mount St Anne’s scheme in the heart of Milltown combines many original architectural features of the era with the comforts of contemporary living  https://www.businesspost.ie/property/three-bed-penthouse-apartment-in-former-victorian-convent-for-e850k/

• Salthill studio apartment with bed in kitchen renting for €950 viewed thousands of times in hours: The demand just shows the desperation of the housing crisis in Galway at the moment  https://www.galwaybeo.ie/news/galway-news/salthill-studio-apartment-bed-kitchen-8255433

• Shock over €1.2million F-rated one-bedroom cottage in Dublin  https://extra.ie/2023/03/18/property/shock-one-bedroom-cottage-dublin

• Bids of €1m received for dated, chalet-style bungalow overlooking Inchydoney beach: Bidding for the house, which needs a revamp, started at under €430,000 but rose to €1.15m after nearly 70 bids. No Inchydoney property has come near the €1m price point until now  https://www.irishexaminer.com/property/residential/arid-41094205.html

• Land In Kildare Among The Most Expensive In The Country, Report Finds  https://www.kfmradio.com/news/localnews/land-in-kildare-among-the-most-expensive-in-the-country-report-finds/

• Huge potential for buyer of this €80,000 Co. Waterford cottage  https://www.beat102103.com/property/huge-potential-for-buyer-of-this-e80000-co-waterford-cottage-1064743

• HOTY: Peek inside this incredible Victorian home in Co. Down  https://www.rte.ie/lifestyle/living/2023/0314/1362146-hoty-peek-inside-this-incredible-victorian-home-in-co-down/

• RTÉ Relove My Space: Fionnuala Jay and Paul Kinsella share home makeover ideas: Home Editor Eve Kelliher talks to Cobh presenter Fionnuala Jay and Dublin designer Paul Kinsella who show their own revamps  https://www.irishexaminer.com/property/homeandgardens/arid-41089525.html

COMMERCIAL PROPERTY NEWS

• The Brennan family have agreed a €100m debt facility from AIB secured on part of their extensive property portfolio and have purchased the landmark McDonald’s on Grafton St. from Irish Life https://www.thetimes.co.uk/article/brennans-bread-tycoons-just-lovin-it-on-grafton-street-mbsfzpmq3

• AIB pulls plug on €75m shopping centre portfolio sale  https://www.thetimes.co.uk/article/aib-pulls-plug-on-75-million-shopping-centre-portfolio-sale-xbcqbgrdr

• I&L sector bucks the trend with strong demand for units of all sizes: A shortage of stock, rising rents and construction costs gives the I&L sector the edge over offices and residential  https://www.businesspost.ie/property/il-sector-bucks-the-trend-with-strong-demand-for-units-of-all-sizes/

• Quanta Capital completes sale-and-leaseback deals worth €300m: There are funds to receive an additional allocation of €50m for investments in the second quarter  https://www.irishtimes.com/property/commercial-property/2023/03/15/quanta-capital-completes-sale-and-leaseback-deals-worth-300m/

• Georgian office investment on Dublin’s Merrion Square seeking €4.4m: Number 46 for sale with three tenants in place and vacant mews with scope for significant rental income  https://www.irishtimes.com/property/commercial-property/2023/03/15/georgian-office-investment-on-dublins-merrion-square-seeks-44m/

• TWM launches refurbed office in north docklands with good local amenities: There are three office suites available at Custom House Plaza which range in size from 400 square metres to about 600 square metres  https://www.businesspost.ie/property/twm-launches-refurbed-office-in-north-docklands-with-good-local-amenities/

• Business founded by ex-aide to Lord Sugar seizes control of Dublin asylum seeker hotel: Receivers appointed to Ibis Red Cow hotel by Propiteer, a business founded by Colin Sandy  https://www.irishtimes.com/business/2023/03/16/business-founded-by-former-aide-to-lord-sugar-seizes-control-of-dublin-asylum-seeker-hotel/

• Dunnes Stores announce plans for major redevelopment of Crumlin Shopping Centre  https://lovindublin.com/news/crumlin-shopping-centre-redevelopment

• Scheme comes to Galway to support businesses which locate in vacant premises  https://galwaybayfm.ie/galway-bay-fm-news-desk/scheme-comes-to-galway-to-support-businesses-which-locate-in-vacant-premises/

• Carrick on Shannon’s historic town hall to go on sale  https://www.shannonside.ie/news/carrick-on-shannons-historic-town-hall-to-go-on-sale-220621

• Nine businesses in Enniscorthy want to retain outdoor dining structures – concern raised over condition of unused outdoor facilities https://m.independent.ie/regionals/wexford/news/nine-businesses-in-enniscorthy-want-to-retain-outdoor-dining-structures-42390133.html

INTERNATIONAL PROPERTY NEWS

• UK property consultancy acquired by US real estate giant  https://propertyindustryeye.com/property-consultancy-acquired-by-us-real-estate-giant/

• Spring Budget 2023: What is in store for the UK’s construction industry? https://www.pbctoday.co.uk/news/planning-construction-news/spring-budget-2023-what-is-in-store-for-the-construction-industry/122794/

• L&Q Construction has broken ground this week on its largest ever new-build project to date – a 476-home scheme at Greenwich Peninsula in South London.  https://www.constructionenquirer.com/2023/03/15/lq-construction-starts-biggest-ever-self-delivery-job/

• Lendlease among 11 firms facing public work ban  https://www.constructionnews.co.uk/contractors/lendlease/lendlease-among-11-firms-facing-public-work-ban-14-03-2023/

• Modular schools specialist teeters towards administration  https://www.constructionnews.co.uk/financial/administrations/modular-schools-specialist-teeters-towards-administration-15-03-2023/

• Imagining la belle vie in a French stone farmhouse or converted mill: French property agency Emile Garcin has a healthy catalogue of stunning properties for sale throughout the country  https://www.businesspost.ie/property/imagining-la-belle-vie-in-a-french-stone-farmhouse-or-converted-mill/

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/