Weekly Property Round-Up October 30th, 2022

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: 

• ‘Dark statistics’ as number of deaths of homeless people continues to rise https://m.independent.ie/irish-news/dark-statistics-as-number-of-deaths-of-homeless-people-continues-to-rise-42089637.html

• A bill which bans residential evictions from next month until March 2023 has been signed into law by President Michael D Higgins.  https://www.irishexaminer.com/news/arid-40994915.html

• Housing for All target on course to be met, new CSO figures indicate: Latest figures show new home completions climbed 20,807 during the first three quarters of the year, surpassing the total for the all of 2021.  https://www.irishexaminer.com/business/economy/arid-40993499.html Apartment completions up 153% in third quarter – CSO  https://www.rte.ie/news/business/2022/1027/1331724-cso-home-completitions/ 

But…

• Housing supply to fall further behind demand as rising costs hit investment, Goodbody warns – Brokerage’s latest housing supply tracker highlights weakening trend in commencements  https://www.irishtimes.com/business/2022/10/26/housing-supply-set-to-fall-further-behind-demand-as-rising-costs-hit-investment-goodbody-warns/

• Ploughing billions into failed policies is no way to fix the housing crisis: Expensive schemes such as the Housing Assistance Programme don’t produce new homes but they do reduce supply and help push rents to record levels  https://www.irishtimes.com/opinion/2022/10/29/ploughing-billions-into-failed-policies-is-no-way-to-fix-the-housing-crisis/

• ‘This scheme is achievable. What is required is the courage and the will to implement it.’ Tipperary Fianna Fáil man says the Government’s housing strategy is not working but he has an alternative plan that could.  https://www.tipperarylive.ie/news/home/949556/big-read-this-scheme-is-achievable-what-is-required-is-the-courage-and-the-will-to-implement-it.html

• Rising rates are tightening the screws on our living standards. The only solution is to build homes: Higher rates and a slowing economy will hold back the housing market.The real number to watch will therefore not be house prices, but quantities. https://thecurrency.news/articles/100057/rising-rates-are-tightening-the-screws-on-our-living-standards-the-only-solution-is-to-build-homes/

• New report highlights nature of planning decisions at An Bord Pleanála  https://www.breakingnews.ie/amp/ireland/new-report-highlights-nature-of-planning-decisions-at-an-bord-pleanala-1381742.html Also, new investigation carried out into staff member at An Bord Pleanála  https://www.irishexaminer.com/news/arid-40990994.html – An Bord Pleanála struggling to read the room after report leaks  https://www.irishexaminer.com/opinion/commentanalysis/arid-40992803.html

• ‘No case to answer’ for An Bord Pleanála chief over conflict of interest claims: Report findings also clear Rachel Kenny of any breaches regarding planning body’s code of conduct https://www.irishtimes.com/ireland/housing-planning/2022/10/27/no-case-to-answer-for-an-bord-pleanala-chief-over-conflict-of-interest-claims/

• Scheme branded a ‘failure’ with just 89 homes retrofitted out of target of 62,500 https://www.irishexaminer.com/news/arid-40990973.html

• Retrofit insulation or miss zero-carbon target, says study: The world’s leading economies will miss their 2050 zero carbon deadline unless they ramp up rates of building refurbishment https://www.theconstructionindex.co.uk/news/view/retrofit-insulation-or-miss-zero-carbon-target-says-study?amp=1

• Double payments for people who volunteer as hosts to Ukrainian refugees approved https://m.independent.ie/irish-news/news/double-payments-for-people-who-volunteer-as-hosts-to-ukrainian-refugees-approved-42103311.html 

• Modular homes for Ukrainians in Mahon won’t be ready for another three or four months: News of the wait came as Government repeated warnings that there is no longer a guarantee of immediate accommodation to those arriving here from war-torn Ukraine https://www.irishexaminer.com/news/munster/arid-40992617.html

• This sounds depressingly familiar… “The real problem is the [conveyancing] system is not broken enough” https://propertyindustryeye.com/want-to-fix-conveyancing-we-need-a-burning-platform/

• It is a deep RTB failure that contributed to this situation: In a “moment of madness” Clare landlord experienced “loss of control” and vandalised his own house https://clarechampion.ie/clare-landlord-vandalised-his-own-house-to-get-tenant-out/

• Ireland is the next port of call for global infrastructure industry – IrishRealEstate.news https://www.irishrealestate.news/ireland-is-the-next-port-of-call-for-global-infrastructure-industry/

• What now for data centres in Ireland?  https://www.siliconrepublic.com/enterprise/data-centres-ireland-energy-sustainability

• GAA star Davy Fitzgerald has claimed he is the victim of a fraud that has resulted in proceedings being brought against him before a Portuguese court. https://www.irishexaminer.com/news/courtandcrime/arid-40991699.html

• Two-thirds of international students in Ireland say housing crisis has negatively impacted their mental health  https://m.independent.ie/irish-news/two-thirds-of-international-students-in-ireland-say-housing-crisis-has-negatively-impacted-their-mental-health-42097435.html

• Why good client communications are paramount for estate agents  https://m.independent.ie/business/commercial-property/why-good-client-communications-are-paramount-for-estate-agents-42097958.html

• Licensing law reform to see pubs open until 12.30am and nightclubs until 6am: New law being brought to Cabinet will give pubs option of opening from 10.30am to 12.30am seven days a week https://www.irishtimes.com/food/drink/2022/10/25/licensing-law-overhaul-to-let-pubs-open-until-1230am-daily-and-nightclubs-until-6am/

• The Top 5 Metaverse Trends In 2023 https://www.forbes.com/sites/bernardmarr/2022/10/24/the-top-5-metaverse-trends-in-2023/?sh=4b3e12231388 Also: Why the future of social connectivity lies in the metaverse https://venturebeat.com/virtual/why-the-future-of-social-connectivity-lies-in-the-metaverse/ 

• Meta sinks as $550bn wiped off US tech giants this week: Investors spooked by weak earnings season and runaway costs at largest digital companies  https://www.irishtimes.com/business/2022/10/27/meta-sinks-as-550bn-wiped-off-us-tech-giants-this-week/

• Build Your Own Home:   “The idea of meitheal is still very much alive in Ireland, and we always used to help each other create our spaces. We’re trying to make sure that there is a culture of encouraging each other to do this work and to take more control of their lives …”  https://www.rte.ie/lifestyle/living/2022/1026/1331516-harrison-gardner-on-why-we-should-learn-to-build-our-own-homes/ 

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 

On #PropertyMatters  this week with Carol Tallon, Mary Conway of Janus Estates and Chairperson of the Irish Property Owners Association (IPOA) discusses senior move management and challenges for landlords navigating uncertainty in Ireland’s rental market.

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

Also, on #BreakingGround on IPropertyRadio this week Joseph Little, Head of Construction & Building Performance in the School of Architecture, Building & Environment within TU Dublin talks about the need to design for building performance and he shares his experience of the deep retrofit of an 1886, mass-concrete built Dublin cottage.

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

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

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/

• Find the third place for coffee, cakes, and community spirit https://www.irishexaminer.com/opinion/columnists/arid-40992764.html

• Why has street life in Dublin city become so depressed? Four things have been prioritised: hotels, offices, unaffordable student developments and luxury apartments for tech workers  https://www.irishtimes.com/opinion/2022/10/24/una-mullally-powers-that-be-are-clueless-about-what-makes-a-city/

• Hugh Wallace: Here’s how to bring Ireland’s soulless buildings back to life: Why do many apartment blocks include empty shops? We’ve misunderstood how to make buildings foster community  https://www.irishtimes.com/property/residential/2022/10/27/hugh-wallace-weve-too-many-soulless-buildings-heres-a-way-to-bring-life-back-to-them/

• Dublin’s planners are failing to help our capital to flourish – Everybody wants the city centre to be more liveable, but recent decisions taken at the top level are actively working against that aim https://www.irishtimes.com/opinion/2022/10/26/michael-mcdowell-dublins-planners-are-failing-to-help-our-capital-to-flourish/

• State accused of double standards as alleged OPW offence is dropped – Housing Department censured over failing to prosecute OPW over disturbance to protected bat species at Emo Court House in Co Laois  https://www.businesspost.ie/news/state-accused-of-double-standards-as-alleged-opw-offence-is-dropped/

• Supreme Court dismisses challenge to €15m Hellfire Club visitor centre: Court says case illustrates complexity of planning law and judicial review procedures particularly when issues of European law arise https://www.irishtimes.com/crime-law/courts/2022/10/24/supreme-court-dismisses-challenge-to-15m-hellfire-club-visitor-centre/

• Core BusConnects route linking Lucan to Dublin city centre enters planning phase: The route is part of a scheme to transform Dublin City’s public transport system.  https://www.thejournal.ie/lucan-busconnects-5904354-Oct2022/

• Irish artist Asbestos condemns Taoiseach’s use of his ‘What is Home?’ mural on TikTok  https://www.hotpress.com/opinion/irish-artist-asbestos-condemns-taoiseachs-use-of-his-what-is-home-mural-on-tiktok-22934845

• WATCH: Cork’s M28 motorway progressing to second phase of prep work before construction  https://www.echolive.ie/corknews/arid-40993418.html

• Major Gort amenity to officially open today https://galwaybayfm.ie/galway-bay-fm-news-desk/major-gort-amenity-to-officially-open-today/

• Limerick TD wants income limits for social housing raised by 20 per cent  https://www.limerickpost.ie/2022/10/24/limerick-td-wants-income-limits-for-social-housing-raised-by-20-per-cent/

• Plans in the pipeline for Limerick Greenway  https://www.live95fm.ie/news/live95-news/plans-in-the-pipeline-for-limerick-greenway/

• Council to consult with public about new mobility plan for Kilkenny city  https://www.kilkennypeople.ie/news/your-community/951117/council-to-consult-with-public-about-new-mobility-plan-for-kilkenny-city.html

• Housing body representative calls for repurposing of vacant commercial properties in Kerry  https://www.radiokerry.ie/amp/news/housing-body-representative-calls-for-repurposing-of-vacant-commercial-properties-in-kerry-302658

• New €100 million West Donegal road, walkway and cycleway to open soon: Covering a distance of around 17 miles, the new road, walk, and cycleway between Dungloe and Glenties is nearing completion  https://www.donegallive.ie/news/local-news/945957/new-100-million-west-donegal-road-walkway-and-cycleway-to-open-soon.html

• The Right to a Healthy Environment: Not as Healthy as One Might Think – Some state constitutions provide that citizens have the right to a healthy environment. But these seemingly innocuous provisions may lead to counterproductive results.  https://www.planetizen.com/blogs/119319-right-healthy-environment-not-healthy-one-might-think?amp

• Activating the Edges: How to Create Lively, Active Streets  https://www.archdaily.com/990889/activating-the-edges-how-to-create-lively-active-streets

CONSTRUCTION & DEVELOPMENT NEWS

• Nama says global slowdown risks delaying completion of new homes  https://m.independent.ie/business/irish/nama-says-global-slowdown-risks-delaying-completion-of-new-homes-42097546.html

• Deep problems in planning system complicating delivery of new housing: Recent concessions in court challenges have raised questions in relation to An Bord Pleanála’s competence in carrying out its statutory duties  https://www.irishtimes.com/ireland/2022/10/29/deep-problems-in-planning-system-complicating-delivery-of-new-housing/

• Four fatalities recorded so far this year related to working at height on Irish construction sites – The Health and Safety Authority received reports of 8,279 non-fatal workplace incidents in 2021  https://www.irishtimes.com/ireland/social-affairs/2022/10/24/four-fatalities-recorded-so-far-this-year-related-to-working-at-height-on-irish-construction-sites/ 

• HSA launches two week nationwide working at height inspection campaign  https://irishbuildingmagazine.ie/2022/10/24/hsa-launches-two-week-nationwide-working-at-height-inspection-campaign/

• Not enough land is being zoned for Irish logistics and warehousing, worsening a supply crunch and pushing up prices, a report has found. https://m.independent.ie/business/commercial-property/indigenous-firms-being-crowded-out-by-data-centres-as-not-enough-land-is-being-zoned-for-enterprise-42089343.html

• Tree-planting will hit just 25% of Government targets, says forestry industry – Figures come as Oireachtas report calls for greater use of timber-framed houses and buildings, and reform of licensing system  https://www.irishtimes.com/business/2022/10/24/tree-planting-will-hit-just-25-of-government-targets-says-forestry-industry/

• Apprenticeships offer a chance to earn as you learn: 8,500 firms employ apprentices in Ireland, 35,000 employers have engaged with apprenticeships over the last 10 years  https://www.irishexaminer.com/business/economy/arid-40989116.html

• How to grow your own construction leaders – Building firms can address the skills crisis by investing in their own construction leaders https://constructionmanagement.co.uk/construction-leadership-smes/

• Record demand along Ireland’s busiest transport artery is drying up land supply: In the absence of any newly-zoned and serviced industrial land, the Naas Road distribution hub will soon have nowhere to expand to https://www.businesspost.ie/property/record-demand-along-irelands-busiest-transport-artery-is-drying-up-land-supply/

• Housing supply to fall further behind demand as rising costs hit investment, Goodbody warns: Brokerage’s latest housing supply tracker highlights weakening trend in commencements https://www.irishtimes.com/business/2022/10/26/housing-supply-set-to-fall-further-behind-demand-as-rising-costs-hit-investment-goodbody-warns/

• Government plans to roll out rapid-build houses to deal with ‘enormous’ housing crisis: Taoiseach says rapid-builds must play a role in the housing solution.  https://www.thejournal.ie/rapid-build-homes-taoiseach-5903655-Oct2022/

• LDA Agrees Deal With McGarrell Reilly To Deliver 247 Cost-Rental Apartments In Dublin  https://businessplus.ie/news/lda-cost-rental-d15/

• Hammerson submits further plans for O’Connell Street site’s regeneraton: Developer submits additional applications for land fronting on to main city thoroughfare as part of its 5.5-acre plan for north inner city  https://www.irishtimes.com/business/2022/10/26/hammerson-submits-further-plans-for-regeneration-of-oconnell-street-site-in-dublin/

• Cherrywood developers see potential to raise heights and build more homes with SDZ plan: Council proposes to increase housing densities from an average of 82 units per hectare to an average of more than 100 per hectare in an amendment to the Strategic Development Zone parameters  https://www.businesspost.ie/property/cherrywood-developers-see-potential-to-raise-heights-and-build-more-homes-with-sdz-plan/

• Planning battle looms in Dublin 4 as developer to lodge plans for 688 apartments on former RTÉ land  https://m.independent.ie/irish-news/news/planning-battle-looms-in-dublin-4-as-developer-to-lodge-plans-for-688-apartments-on-former-rte-land-42097540.html

• Blackrock build-to-rent scheme for over-60s approved: Bartra to develop five-storey ‘later living’ building at Woodlands Park https://www.irishtimes.com/business/2022/10/28/blackrock-build-to-rent-scheme-for-over-60s-approved/ Also: Bartra complains to Housing Minister over Dublin council’s rate of planning refusals: The property developer also accused the planning regulator of ‘comparing apples with oranges’ after it pointed out that South Dublin County Council had approved 88% of all planning applications last year https://www.businesspost.ie/news/bartra-complains-to-housing-minister-over-dublin-councils-rate-of-planning-refusals/

• Brent geese scupper Marlet’s 580-apartment plan for St Anne’s Park site: Site close to St Paul’s College in Raheny seen as critical to migrating light-bellied Brent geese  https://www.irishtimes.com/business/2022/10/28/brent-geese-scupper-marlets-580-apartment-plan-for-st-annes-park-site/

• Malahide site with planning for 47 family homes seeks €8.75m: Greenfield site is well located adjacent to sought-after Streamstown Wood residential development  https://www.irishtimes.com/property/commercial-property/2022/10/26/malahide-site-with-planning-for-47-family-homes-seeks-875m/

• Diageo Ireland to lodge plans for €200m Kildare brewery  https://www.breakingnews.ie/amp/ireland/diageo-ireland-to-lodge-plans-for-e200m-kildare-brewery-1383864.html

• Applications open for 38 affordable homes built in North Cork: Ten three-bed and twenty-eight semi-detached houses are up for grabs https://www.corkbeo.ie/news/local-news/applications-open-38-affordable-homes-25361154

• Poetry in motion? Stony grey soil of €2.75m Monahan Road Cork city site well-set for homes: 1.78 acre development site is on fringe of Cork’s docklands set for 10,000 new homes by 2040 https://www.irishexaminer.com/property/commercial/arid-40992773.html

• Planning refused for 27 houses and apartments in Clifden  https://www.galwaydaily.com/news/housing/planning-refused-for-27-houses-and-apartments-in-clifden/

• Property company challenges adoption of Waterford development plan  https://www.breakingnews.ie/amp/ireland/property-company-challenges-adoption-of-waterford-development-plan-1382629.html

• Ashbourne lands zoned for residential use seeking €3.5m: Site without planning permission is well located on the outskirts of popular Meath commuter town  https://www.irishtimes.com/property/commercial-property/2022/10/26/ashbourne-lands-zoned-for-residential-use-seeking-35m/

• Longford pub to be transformed into digital working hub and apartments https://www.longfordleader.ie/news/home/945977/longford-pub-to-be-transformed-into-digital-working-hub-and-apartments.html

• Planning objection lodged over Center Parcs expansion  https://www.shannonside.ie/news/planning-objection-lodged-over-center-parcs-expansion-213338

• Supermac’s plaza gets go-ahead for outskirts of Ennis  https://www.clareecho.ie/supermacs-plaza-gets-go-ahead-for-outskirts-of-ennis/

• Derek Quinlan moved a step closer to bankruptcy last week after his wife failed to halt a court hearing by claiming that he was in intensive care at a London hospital suffering heart failure. https://www.thetimes.co.uk/article/irish-tycoon-derek-quinlan-fails-to-delay-bankruptcy-case-qnk6g3tcx

• Builder brothers go back to trading blows, as developer Greg Kavanagh is sued by his sibling – for a second time: Hugh Kavanagh’s lawsuit against his brother Greg comes two years after last dispute  https://m.independent.ie/irish-news/news/builder-brothers-go-back-to-trading-blows-as-developer-greg-kavanagh-is-sued-by-his-sibling-for-a-second-time-42098019.html

• How mega developers Luke and Brian Comer built up a portfolio of eyesores around Ireland: Half-completed complexes are not just blots on the landscape — they grate all the more amid a serious housing shortage  https://www.thetimes.co.uk/article/how-mega-developers-luke-and-brian-comer-built-up-a-portfolio-of-eyesores-around-ireland-26qvrz0zb

• Profit at John Paul Construction topped €18m last year: Jones Engineering operating surplus slips as costs rise, new figures show https://www.irishtimes.com/business/2022/10/24/profit-at-john-paul-construction-topped-18m-last-year/

• UK construction leaders are calling on the Government to halt plans to switch from CE quality marking to a new UK CA standard from January.  https://www.constructionenquirer.com/2022/10/27/industry-chiefs-warn-plans-to-drop-ce-mark-in-a-mess/

• When Light Tells a Building’s Story: What is Architectural Lighting?  https://www.archdaily.com/990976/when-light-tells-a-buildings-story-what-is-architectural-lighting

• This might be useful for contractors to know how their site teams and subcontractors’ behaviour impacts the local community: ‘How do I complain about the noisy building site next to my apartment?’ Property Clinic: Builders arrive at 6am, making noise and leaving rubbish in the gardens  https://www.irishtimes.com/property/residential/2022/10/26/how-do-i-complain-about-the-noisy-building-site-next-to-my-apartment/

PROPTECH, ESG, MMC & CONSTRUCTION INNOVATION

• The long view: a conversation with the father of futurism – Ideas, scenarios and views. Fundamentally, that’s the life of Peter Schwartz. The senior vice president of strategic planning for Salesforce speaks to Emmet Ryan about why he doesn’t believe in virtual reality but is a huge fan of augmented reality, why companies shouldn’t seek the next Steve Jobs, and how his latest role may be his most challenging yet https://www.businesspost.ie/connected/the-long-view-a-conversation-with-the-father-of-futurism/ 

• Regulating artificial intelligence – Politicians in both Europe and the US are eyeing legislation that will set rules on AI. What impact will it have for start-ups developing solutions and for companies using it to get ahead? Jonathan Keane investigates  https://www.businesspost.ie/connected/regulating-artificial-intelligence/

• Irish Startup Funding & Global Proptech Investment – Proptech Ireland https://prop-tech.ie/irish-startup-funding-global-proptech-investment/

• Auctioneera partnership with NoFrixion to save firm cash: Deal will provide a digital payments infrastructure for real-time payments reconciliation and accounting updates https://www.businesspost.ie/property/auctioneera-partnership-with-nofrixion-to-save-firm-cash/

• The Lawsuit That Could Change PropTech https://www.propmodo.com/the-lawsuit-that-could-change-proptech/

• Contech Innovators Evercam bring in €8m To Revolutionise Reality Capture Worldwide  https://www.constructiondive.com/press-release/20221024-contech-innovators-evercam-bring-in-8m-to-revolutionise-reality-capture-wo/

• Innovations In Materials And Tech Drive Positive Climate Action https://www.forbes.com/sites/forrester/2022/10/20/innovations-in-materials-and-tech-drive-positive-climate-action/amp/

• Recycled brick innovation wins international sustainability award  https://projectscot.com/2022/10/recycled-brick-innovation-wins-international-sustainability-award/

• Everactive Launches Its First Battery-Free Internet of Things Development Kit: With two compact sensor pucks, a USB gateway, and unlimited user accounts, Everactive is hoping to spur growth with its new dev kit.  https://www.hackster.io/news/everactive-launches-its-first-battery-free-internet-of-things-development-kit-243328f3b9b6

• The State of XR in Construction (AEC) for 2022  https://www.xrtoday.com/virtual-reality/the-state-of-xr-in-construction-aec-for-2022/amp/

• Construction Tech And The Future Of Workers In The Industry  https://www.forbes.com/sites/forbestechcouncil/2022/10/12/construction-tech-and-the-future-of-workers-in-the-industry/amp/

• From BIM to FIM (Fabrication Integrated Modelling): How digitising offsite construction and moving to a process of Fabrication Integrated Modelling (FIM) will save the planet  https://aecmag.com/sustainability/from-bim-to-fim-fabrication-integrated-modelling/

• SymTerra: Transforming paperwork with construction technology  https://www.pbctoday.co.uk/news/digital-construction/construction-technology-news/symterra-transforming-paperwork-with-construction-technology/117313/

• How AEC companies can match hardware investment to BIM use cases  https://www.constructiondive.com/spons/how-aec-companies-can-match-hardware-investment-to-bim-use-cases/633670/

• Backfill BIM: How going digital can futureproof operational buildings  https://www.pbctoday.co.uk/news/digital-construction/bim-news/backfill-bim-how-going-digital-can-futureproof-operational-buildings/116799/

• Construction faces a cyber security challenge  https://www.constructionnews.co.uk/agenda/opinion/industry-pulse/construction-faces-a-cyber-security-challenge-24-10-2022/

• ‘Top Business Issues for Specialty Contractors’ report highlights key issues impacting speciality contractors, including workforce management, technology and profitability  https://www.pbctoday.co.uk/news/digital-construction/construction-technology-news/dodge-construction-releases-2022-top-business-issues-for-specialty-contractors-report/117424/

• A green trifecta: how a concrete alternative can cut emissions, resource use and waste https://theconversation.com/amp/a-green-trifecta-how-a-concrete-alternative-can-cut-emissions-resource-use-and-waste-192501

• Bilt Rewards, which operates a loyalty program and credit card that converts rent payments into points, said its valuation more than quadrupled to $1.5 billion https://www.bloomberg.com/news/articles/2022-10-25/bilt-startup-turning-rent-into-points-valued-at-1-5-billion?sref=QhZsvyLm

• Liechtenstein Invests in Canada’s Greensoil PropTech Ventures Fund II – European investment group partners to help close a $100 million round in Q4 2022  https://commercialobserver.com/2022/10/liechtenstein-group-proptech-investment/

• Zillow lays off 300 employees in latest workforce shift https://techcrunch.com/2022/10/26/zillow-layoff-300-employees/

• Proptech: Understanding and managing privacy and surveillance issues  https://www.claytonutz.com/knowledge/2022/october/proptech-understanding-and-managing-privacy-and-surveillance-issues

ENERGY, CLIMATE & ENVIRONMENT

• Minister of State Smyth opens Circular Economy Innovation Grant Scheme 2022 for applications  (focus on construction and demolition waste) https://www.gov.ie/en/press-release/4fe2a-minister-of-state-smyth-opens-circular-economy-innovation-grant-scheme-2022-for-applications/

• Electric Ireland wins in switching battle among consumers: ESB subsidiary gained most customers from June’s record switching as two of the big four suppliers suffer net loss of customers https://www.irishtimes.com/business/2022/10/24/electric-ireland-wins-in-switching-battle-among-consumers/

• Texas firm may develop floating gas facility in Cork harbour: Port of Cork says no fracked gas will come through the depot and commits to transparency policy  https://www.businesspost.ie/news/texas-firm-may-develop-floating-gas-facility-in-cork-harbour/

• New legislation introduced for the Energy Efficiency Obligation Scheme  https://www.gov.ie/en/press-release/e5331-new-legislation-introduced-for-the-energy-efficiency-obligation-scheme/

RESIDENTIAL PROPERTY NEWS (including PRS)

• ‘You can’t turn the switch on overnight and hope there are going to be houses coming out’: The former army officer who’s head of the latest State-backed plan to help FTBs buy homes talks about his career, and if the right housing policies are now in place https://www.irishtimes.com/business/2022/10/28/michael-broderick-you-cant-turn-the-switch-on-overnight-and-hope-there-are-going-to-be-houses-coming-out/

• Government biggest beneficiary of rental income in State, Dáil hears – TDs told that eviction because landlord selling property is illegal in 14 EU member states  https://www.irishtimes.com/politics/oireachtas/2022/10/26/government-biggest-beneficiary-of-rental-income-with-560-in-tax-on-every-1000/

• Home buyers warned of ‘financial distress’ if they stretch to new mortgage limits: New Central Bank rules will see first-time buyers’ mortgage limits rise to four times their gross income  https://m.independent.ie/business/personal-finance/property-mortgages/home-buyers-warned-of-financial-distress-if-they-stretch-to-new-mortgage-limits-42089630.html

• ECB to raise rates again by 0.75% this week, say economists: The rate hike will impact hundreds of thousands of homeowners as their mortgage repayments will increase significantly as a result  https://www.irishexaminer.com/business/economy/arid-40990004.html

• Finance Ireland suspends long-term fixed mortgages as funding costs rise  https://m.independent.ie/business/personal-finance/latest-news/finance-ireland-suspends-long-term-fixed-mortgages-as-funding-costs-rise-42097266.html

• Mortgage lender ICS to hike mortgage rates by one full percentage point:?New fixed rate home loans as well as variable rates to rise https://m.independent.ie/business/personal-finance/property-mortgages/mortgage-lender-ics-to-hike-mortgage-rates-by-one-full-percentage-point-42103408.html

• SEAI scheme ‘creating a roadblock’ for homeowners  https://www.irishexaminer.com/news/arid-40991894.html

• Average monthly rents rose from €589 to €1,084 in nine years – ESRI: A third of people below the poverty line last year were in work, while many of them held a third-level degree  https://www.irishtimes.com/business/economy/2022/10/28/private-rents-jumped-84-between-2012-and-2021-study-finds/

• Contracts signed for 247 cost-rental apartments in Dublin  https://www.irishexaminer.com/news/arid-40992455.html

• Five Dublin properties on the market for house hunters on a tight budget- House hunting is stressful in the best of times but it’s even worse if you’re on a tight budget  https://www.dublinlive.ie/news/property/five-dublin-properties-market-those-25331861

• Investigative website turning unused Irish homes into houses for first-time buyers: Emptyhomes.ie is renewing its efforts to help wannabe first-time buyers identify the owners of unused houses  https://www.thetimes.co.uk/article/investigative-website-turning-unused-irish-homes-into-houses-for-first-time-buyers-lzvsctz5t

• Cork landlord issued with 5 written cautions over rent pressure zone breaches: The RTB — a regulatory body that has oversight of the housing market in Ireland — today published details of 38 sanctions ranging from a written caution up to fines of €3,963.76 https://www.irishexaminer.com/news/munster/arid-40994207.html

• Meet the west Cork woman who built her own dream home : Eve Kelliher talks to Esther Foreman to discover what it’s really like to create your own residence from start to finish  https://www.irishexaminer.com/property/homeandgardens/arid-40990301.html

• Galway city student accommodation scheme seeks €13.75m: Sale of fully-occupied 106-bed Radical Living facility offers purchaser 6.5% net initial yield  https://www.irishtimes.com/property/commercial-property/2022/10/26/galway-city-student-accommodation-scheme-seeks-1375m/

• Price drop for famous ‘Frank’ glamping complex – The asking price has been dropped on a quirky glamping site in West Donegal.  https://www.donegaldaily.com/2022/10/23/price-drop-for-famous-frank-glamping-complex/amp/

• Kieran McCarthy: Sourcing labour for your home build or renovation. What is the best for restoration — direct labour or hire a contractor? https://www.irishexaminer.com/property/residential/arid-40988723.html

• Top 7 reasons why you should buy property in Cork  https://www.thecork.ie/2022/10/25/top-7-reasons-why-you-should-buy-property-in-cork/

• Kilkenny farm makes €3.1 million at auction: It was after a dairy farmer got involved that the price began to increase  https://www.irishexaminer.com/farming/arid-40991246.html

• Heated exchanges in Offaly row on retroffitted homes https://www.offalyexpress.ie/news/midland-tribune/946714/heated-exchanges-in-offaly-row-on-retroffitted-homes.html

COMMERCIAL PROPERTY NEWS

• Property paying price of pandemic: The chance of working from home has been welcomed by most, but it is having a major effect on city office space  https://m.independent.ie/business/personal-finance/property-mortgages/property-paying-price-of-pandemic-42103601.html

• Everyone wins in the change to working from home– except the office owners: Workers are happier with less commuting, the environment benefits and employers save on costs, but owners of offices should be very afraid that the office rental sector is set to go the same way as retail  https://www.businesspost.ie/analysis-opinion/dan-obrien-everyone-wins-in-the-change-to-working-from-home-except-the-office-owners/

• Workplaces adapting to evolving business practices with employee-centred changes – Offices which have good green credentials, have close proximity to public transport and which can improve our overall health and wellbeing are some of the requirements from the workplace that employees are now expecting  https://www.businesspost.ie/property/workplaces-adapting-to-evolving-business-practices-with-employee-centred-changes/

• Ireland: The Future Of Commercial Leasing Is ‘Green’  https://www.mondaq.com/ireland/landlord-tenant-leases/1244126/the-future-of-commercial-leasing-is-green39

• Decline in Dublin 4 office values are a feature of latest property index: Irish capital values contracted again with a decline of 1.8pc in the quarter  https://m.independent.ie/business/commercial-property/decline-in-dublin-4-office-values-are-a-feature-of-latest-property-index-42097966.html

• Brown Thomas and Arnotts parent posts record pretax profit of €8.94m: Brown Thomas Arnotts Ltd revenue surged 61 per cent to €253.6 million in the 12 months to the end of January https://www.irishtimes.com/business/2022/10/27/brown-thomas-and-arnotts-parent-posts-record-pre-tax-profits/

• Former Capital Bars chief in €3.2m deal for AIB bank branch on Upper Baggot St: Liam O’Dwyer expected to explore potential conversion of D4 landmark to pub or boutique hotel  https://www.irishtimes.com/property/commercial-property/2022/10/26/former-capital-bars-chief-in-32m-deal-for-aib-bank-branch-on-upper-baggot-st/

• Three-storey Park West unit in Dublin sells for €2.7 million: Buyer of high-return investment is British based cosmetics firm looking to enter Ireland https://www.businesspost.ie/property/three-storey-park-west-unit-in-dublin-sells-for-e2-7-million/

• Building owners sue Dylan McGrath for non-payment of rent: Celebrity chef’s co-owned company, which runs the Fade Street Social restaurant in Dublin city centre, is reported to owe €106,000  https://www.businesspost.ie/news/building-owners-sue-dylan-mcgrath-for-non-payment-of-rent/

• BlackBee Group to mount €100m bid for nursing homes amid restructuring: Cork investment group had previously been in talks to sell the 12 nursing homes and two homes under development to a European fund  https://www.irishtimes.com/business/2022/10/29/blackbee-group-to-mount-100m-bid-for-nursing-homes-amid-restructuring/

• Multi-million renovation of Cork’s historic Queen’s Old Castle approved – The plans include the partial demolition of the building to allow for office and retail development on the site on Cork’s Grand Parade  https://www.irishexaminer.com/news/munster/arid-40992794.html

• Plan for Cork city Dunnes Stores gets green light despite SuperValu reps objecting: Although the application only concerned the off-licence, Dunnes confirmed it is part of an overall plan to make the spot into a ‘small supermarket’  https://www.corkbeo.ie/news/local-news/plan-cork-city-dunnes-stores-25358175

• Cork artist gives former Douglas Street shop a new lease of life: We talk to Cora Murphy as she throws open the doors of the iconic property where she is embarking on new beginnings  https://www.irishexaminer.com/property/homeandgardens/arid-40990289.html

• New firm bags €350k contract for Cork’s historic English Market: Traders welcome the appointment of Irish property company Lisney, which brings to an end the longtime involvement of controversial US firm Aramark  https://www.irishexaminer.com/news/munster/arid-40992434.html

• Plan to redevelop former landmark Limerick hotel https://www.limerickleader.ie/news/home/949755/plan-to-redevelop-former-landmark-limerick-hotel.html

• Loss of more than 3,700 Killarney hotel beds ‘decimating’ town’s bars and cafes: Businesses in one of Ireland’s tourism capitals say they are suffering due to the number of refugees allocated to the town  https://www.irishexaminer.com/news/munster/arid-40994321.html

• Lawsuit over €62,000 rent arrears settled out of court: Gradual Investments had sued property developer Conor Clarkson over pub lease dispute  https://www.businesspost.ie/news/lawsuit-over-e62000-rent-arrears-settled-out-of-court/

• Office Timesharing On The Rise As Companies Lock In Hybrid Schedules  https://www.bisnow.com/national/news/coworking/san-fran-flex-office-startup-is-like-the-timeshare-for-office-116007

• CBRE NI’s Real Estate report reveals that almost £20m worth of commercial property deals were done: Commercial investments amounting to over £180m were brought to market in the third quarter of this year, new research has found. https://www.newsletter.co.uk/business/cbre-nis-real-estate-report-reveals-that-almost-ps20m-worth-of-commercial-property-deals-were-done-3896969?amp

INTERNATIONAL PROPERTY NEWS

• A UK story with many parallels to the Irish market –  Buy-to-let: is it time for landlords to sell up and move on? Spiralling mortgage rates and stricter rules have made it difficult to make a profit  https://www.thetimes.co.uk/article/buy-to-let-is-it-time-for-landlords-to-sell-up-and-move-on-8d60dc6jg

• Reza Merchant on his return to the market, The Collective’s collapse and the future of co-living  https://reactnews.com/article/reza-merchant-on-his-return-to-the-market-the-collectives-collapse-and-the-future-of-co-living/

• 10 of the coolest places to buy a holiday home: Forget Lisbon and Barcelona — they’re overpriced and crowded. These are the canny choices  https://www.thetimes.co.uk/article/10-of-the-coolest-places-to-buy-a-holiday-home-ptwlcn3ns

• What will happen with property prices in Spain in 2023? With property prices forecast to drop across most of Europe, will they rise or fall in Spain in 2023? What are the factors that make the Spanish housing market slightly different to its European neighbours? https://www.thelocal.es/20221027/explained-what-will-happen-with-property-prices-in-spain-in-2023/

• British architecture studio Foster + Partners has completed its Varso Tower in Warsaw, Poland, a supertall skyscraper that measures 310 metres and is now the European Union’s tallest building.  https://www.dezeen.com/2022/10/26/foster-partners-varso-tower-european-union-tallest-building-poland-architecture/

• Meta Expects To Shell Out $2B This Year To Get Out Of Office Leases  https://www.bisnow.com/national/news/office/meta-expects-2b-in-losses-from-office-pullback-this-year-116066

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/