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:
- Well done to all involved in the Business Post National Property Summit this week – fantastic contributions from the podium and from the floor.
- Hooke & MacDonald: Housing for All strategy having impact across housing sector: Over 40,000 first-time buyers have secured a home as a result of the Help-to-Buy initiative https://www.businesspost.ie/property/hooke-macdonald-housing-for-all-strategy-having-impact-across-housing-sector/
- Where have Ireland’s 200,000 vacant homes gone? Just 3,000 are liable for the new tax: The great silver bullet of vacancy was an illusion all along and the latest tax returns, published by the Department of Finance, prove it https://www.irishtimes.com/business/economy/2023/11/26/where-have-irelands-200000-vacant-homes-gone-just-3000-are-liable-for-the-new-tax/
- Homeless man seeks to compel council to provide him with suitable accommodation https://www.irishtimes.com/crime-law/courts/2023/11/27/homeless-man-seeks-to-compel-council-to-provide-him-with-suitable-accommodation/
- McVerry Trust overstated assets by €3m in 2022 accounts: Revised financial accounts show charity under-reported spending on property running costs https://www.irishtimes.com/ireland/2023/11/28/mcverry-trust-overstated-assets-by-3m-in-2022-accounts/ Also: Housing charity Peter McVerry Trust to get €4 million-a-month taxpayer bailout https://m.independent.ie/irish-news/housing-charity-peter-mcverry-trust-to-get-4-million-a-month-taxpayer-bailout/a784134632.html
- ‘Renting privately is just not affordable for them’ – St Vincent de Paul charity seeing more older people facing homelessness https://m.independent.ie/irish-news/renting-privately-is-just-not-affordable-for-them-st-vincent-de-paul-charity-seeing-more-older-people-facing-homelessness/a855798032.html
- Major investment in forestry promotion as Department provides €1.6 million in funding to 42 groups https://www.gov.ie/en/press-release/6c3aa-major-investment-in-forestry-promotion-as-department-provides-16-million-in-funding-to-42-groups/
- CEO of Davy resigns after only 21 months: Davy says the “search process” for – Bernard Byrne will begin immediately and that he will remain in situ pending the completion of this process. https://thecurrency.news/articles/135356/ceo-of-davy-resigns-after-only-21-months/
- Estate agents urged to act now to prevent cyber attacks https://propertyindustryeye.com/estate-agents-told-to-ensure-they-have-measures-in-place-to-prevent-cyber-attacks/
- Dezeen: The biggest architecture and design stories of 2023 https://www.dezeen.com/2023/12/01/top-architecture-design-2023-review/
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 – iProperty Radio
For anyone following the iProperty Radio journey over the past five years (we’re officially five years broadcasting in January 2024!), the growth in audience numbers, video watches and volume of engagements across our social media has been nothing short of phenomenal for a few weekly niche real estate and construction chats per week – our digital reach/impressions (different metrics on different channels) now consistently exceeds 1.2 million per month and regularly exceeds 1.5 million. There are now 13 different shows on the channel, from Ireland, mainland Europe, the UK, the US and Australia, with five of those focused on the Irish marketplace. As we approach our 5th birthday, we would like to thank all of our sponsors, guests and contributors, and you the industry for giving us your time and attention. We genuinely appreciate it and want to keep getting better for you. We have a super construction leaders series coming to the ‘Breaking Ground’ show for 2024. Over the coming weeks we have a great line-up, including an interview with Ronan Lyons about why the government consistently underestimates Ireland’s growth and what can be done to improve project viability across the regions. Also, we will be chatting to Pat Barry of the Irish Green Build Council about the Home Performance Index and how to deliver ‘Better Homes’.
This week on iPropertyRadio…
#Property Roundup
*The Business of Estate Agency*

This week on #PropertyRoundup on iProperty Radio.com, I was joined by special co-host, Emmet J Creighton, Daft.ie’s Client Partnership Director in the offices of REA McGee Estate Agents & Auctioneersin Tallaght where we chatted to managing director, Anthony McGee. We discussed local property market trends in and around Tallaght, the expected pipeline for 2024 and the ever-evolving business of estate agency.
Also, the iProperty Radio team, in partnership with Daft.ie, will be travelling across the country in 2024, meeting estate agents and learning about rental and sales trends on the ground. If you would like to get involved in these ‘Property Roundup’ shows, email hello@ipropertyradio.com.
*Property Roundup is sponsored by Daft.ie, Ireland’s most visited property website
*Watch/ listen back: https://ipropertyradio.com/property-roundup/
#Proptech Hot Seat

In the final Proptech Hot Seat show of 2023 is Guy Windsor Lewis, CEO & Founder of Locale. Guy joins host Carol Tallon this week to discuss Locale’s offering and the Proptech Perspectives Report 2023.
The Proptech Perspectives Report can be found here: https://www.locale.co.uk/2023proptech-perspectives-report
Listen back to the full interview to hear about his expectations for Proptech and the wider real estate industry in 2024.
Proptech Hot seat is sponsored by Proptech Ireland, the hub for innovators, investors and industry leaders https://prop-tech.ie/
Watch/ listen back: https://ipropertyradio.com/proptech-hot-seat/
#BreakingGround

On #BreakingGround this week Shane Curran, Managing Director of Interiors with BHA Construction, joins us to talk about the company’s 15 live sites across Dublin and the South East, the changing business model of residential housing delivery, and the growing importance of supporting the supply chain to scale.
He also goes through the team’s tech stack and shares his view on placemaking, creating sustainable communities and what social value looks like in practice. Learn more about BHA https://bhaconstruction.com/
Breaking Ground is sponsored by PLACEengage – Your Virtual Town Hall, a data-driven platform for more successful public consultation and community engagement for your next development project https://placeengage.com/
*Watch back and listen back: https://ipropertyradio.com/breaking-ground/
Watch back and listen back to all shows at: https://ipropertyradio.com/shows/
Produced by Katie Tallon, with Hear Me Roar Media on sound 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/
- ‘Real momentum’ behind cost rental scheme, Minister Darragh O’Brien says as he launches new homes in north Dublin https://m.independent.ie/irish-news/real-momentum-behind-cost-rental-scheme-minister-darragh-obrien-says-as-he-launches-new-homes-in-north-dublin/a1968996434.html
- Cork ranked as one of Europe’s most innovative rising cities in major international comp: Described as an ever-expanding city that ‘will never settle for second-best’ https://www.corkbeo.ie/news/local-news/cork-ranked-one-europes-most-28186054
- Further details on M20 Cork to Limerick road revealed as engineers hone route design: It is only if planning is approved that tenders can be published which means that construction is several years away yet https://www.irishexaminer.com/news/munster/arid-41278087.html
- Clonakilty Charity Ball raises almost €30,000 for exciting public space https://www.echolive.ie/corknews/arid-41279929.html
- New tourism strategy for County Galway will work closely with local communities https://galwaybayfm.ie/galway-bay-fm-news-desk/new-tourism-strategy-for-county-galway-will-work-closely-with-local-communities/
- Three Galway winners in national Gaeltacht Awards for community-based proposals https://galwaybayfm.ie/galway-bay-fm-news-desk/three-galway-winners-in-national-gaeltacht-awards-for-community-based-proposals/
- Former mayors pile pressure on planners over Galway City Ring Road decision https://connachttribune.ie/former-mayors-pile-pressure-on-planners-over-galway-city-ring-road-decision/
- Plans in the works for new Dog Park near Oranmore https://www.galwaydaily.com/news/plans-in-the-works-for-new-dog-park-near-oranmore/
- Fresh planning row erupts over Limerick mural tribute on gable end wall https://www.ireland-live.ie/news/limerick-live/1358152/fresh-planning-row-erupts-over-limerick-mural-tribute-on-gable-end-wall.html
- ‘Significant’ step made in repurposing Wicklow Courthouse https://wicklownews.net/2023/11/significant-step-made-in-repurposing-wicklow-courthouse/
- Tipperary County Council approves historic draft budget for 2024 with expenditure total at €234m https://m.independent.ie/regionals/tipperary/news/tipperary-county-council-approves-historic-draft-budget-for-2024-with-expenditure-total-at-234m/a64952302.html
- Waterways Ireland to launch a three-pillar strategy for the River Barrow through Carlow and Kilkenny: The organisation’s about to take the first step in the process https://kclr96fm.com/waterways-ireland-to-launch-a-three-pillar-strategy-for-the-river-barrow-through-carlow-and-kilkenny/
- New Slane Bypass planning application to be lodged next week https://www.lmfm.ie/news/lmfm-news/new-slane-bypass-planning-application-to-be-lodged-next-week/
- Modular homes petition for Mayo people rebuilding due to pyrite https://www.con-telegraph.ie/2023/12/02/modular-homes-petition-for-mayo-people-rebuilding-due-to-pyrite/
- Long delayed Sligo link road to be built by late 2024 https://m.independent.ie/regionals/sligo/news/long-delayed-sligo-link-road-to-be-built-by-late-2024/a1927144927.html
- An Bord Pleanála overturn Longford hub decision https://www.ireland-live.ie/news/longford-live/1357828/an-bord-pleanala-overturn-longford-hub-decision.html
- Leitrim for all group founded to welcome refugees and asylum seekers following events in Dromahair https://m.independent.ie/regionals/leitrim/news/leitrim-for-all-group-founded-to-welcome-refugees-and-asylum-seekers-following-events-in-dromahair/a276978400.html
ISSUES IMPACTING RURAL IRELAND

- RURAL IRELAND: There is a new group being set up for housing developers, property investors and estate agents trying or intending to deliver new homes, businesses or important infrastructure in rural Ireland – email in confidence to carol@propertydistrict.ie.
- This year’s National Property Summit featured a fireside chat about the revitalisation of our village and town centres with Alison (Ali) Harvey, Principal Planner & Project Manager, Nicholas O’Dwyer Ltd and Carol Tallon ,CEO, Ireland’s Property District. The topic of district regeneration came up as an alternative to the single building approach that is currently being pursued (arguably, unsuccessfully.And it raised a big question – does Ireland need a regeneration agency?
- Gaeltacht community’s cry – let us live: Conamara-born physiotherapist who returned to home after several years in Australia couldn’t find a place to live in her home place – and spent the summer sleeping in a camper van. But now Adhna Ní Bhraonáin from Cois Fharraige is fighting back – demanding a change to housing and planning policies to ensure young Gaeltacht people can find a suitable place to live in their own Irish speaking communities https://connachttribune.ie/gaeltacht-communitys-cry-let-us-live-where-were-from-671/
- There are calls for radical changes to Government policy to help deliver affordable housing in Connemara. Councillor Thomas Welby says guidelines drawn up in 2021 are outdated and unsuitable for places outside of Dublin city. https://connachttribune.ie/calls-for-government-policy-changes-to-deliver-affordable-housing-in-connemara/
CONSTRUCTION, MMC & DEVELOPMENT NEWS

(l-r) Nicola McKay, HLM Architects; Ronan Lonergan, Cairn Homes; Eoin Waldron, Castle Modular; Pat Kirwan, C+W O’Brien Architects; and moderator Carol Tallon, Property District.
- MMC IRELAND to lead the MMC stage at the NATIONAL CONSTRUCTION SUMMIT 2024: Line-up highlights include: https://irishrealestate.news/mmc-ireland-to-lead-the-mmc-stage-at-the-national-construction-summit-2024/
- Home building to top 33,000 units next year: Republic to buck construction trends, economists predict https://www.irishtimes.com/business/2023/12/01/home-building-to-top-33000-units-next-year/
- Ireland expected to deliver more houses while construction rates across Europe plummet, report shows: New research expects activity in the Irish residential sector to grow by 12 per cent to 2025, as output across all of Europe will drop 15 per cent https://www.businesspost.ie/news/ireland-expected-to-deliver-more-houses-while-construction-rates-across-europe-plummet-report-shows/
- Interest rates and elevated construction costs made greatest impact on market: Delays in the planning system, sustainability and building occupancy have also contributed to challenging environment https://www.businesspost.ie/property/interest-rates-and-elevated-construction-costs-made-greatest-impact-on-market/
- Fast-track housing collapsed amid Paul Hyde turmoil at An Bord Pleanála – Records released under Freedom of Information show board decision-making came to a halt https://www.irishtimes.com/ireland/housing-planning/2023/11/27/fast-track-housing-collapsed-amid-paul-hyde-turmoil-at-an-bord-pleanala/
- An Bord Pleanála backlog delays construction of more than 22,000 homes: The largest number of strategic housing apartment applications is in Dun Laoghaire-Rathdown https://www.irishtimes.com/ireland/housing-planning/2023/11/27/construction-of-more-than-22000-homes-held-back-by-planning-delays/
- Housing planning bottlenecks will be cleared next year, says Minister: Darragh O’Brien tells conference An Bord Pleanála has stabilised after recent controversies https://www.irishtimes.com/business/2023/11/29/housing-planning-bottlenecks-will-be-cleared-next-year-says-minister/
- Developer Hugh Kavanagh no longer seeking court orders to have brother Greg jailed: Overall legal battle between businessmen brothers continues https://www.irishtimes.com/business/2023/11/28/developer-hugh-kavanagh-no-longer-seeking-court-orders-to-have-brother-greg-jailed/
- Hibernia is currently redeveloping the former Garda HQ on Harcourt St and it’s also bringing draughty older buildings up to a much higher specification. Lingering in the background is a notable downturn in the commercial property market here. https://www.newstalk.com/podcasts/breakfast-business/hibernia-one-of-the-largest-property-developers-in-ireland
- More than 700 social and cost-rental homes planned for Cherry Orchard: Proposed apartment development will be in 16 blocks of up to 15 storeys https://www.irishtimes.com/ireland/housing-planning/2023/12/01/more-than-700-social-and-cost-rental-homes-planned-for-cherry-orchard/
- Plans to transform Dublin’s Hendrons Building into residential hub filed with local council: Proposed redevelopment of the long-abandoned workshop includes plans for 93 apartments, outdoor seating and a retail unit https://www.businesspost.ie/news/plans-to-transform-dublins-hendrons-building-into-residential-hub-filed-with-local-council/
- 18-storey residential tower will be centrepiece of Dublin docklands scheme: Eagle Street begins building more than 700 apartments at Castleforbes Business Park https://www.irishtimes.com/business/2023/11/30/18-storey-residential-tower-will-be-centrepiece-of-dublin-docklands-scheme/
- Locals in Drimnagh are objecting to multi-million euro plans by a Conor McGregor firm for an eight-storey 113-unit apartment block in the MMA fighter’s home area of Drimnagh, Dublin 12 https://www.breakingnews.ie/business/locals-object-to-conor-mcgregor-firms-apartment-scheme-1558571.html
- Developers Gannons are selling a mixed-use investment in Clongriffin, Dublin 13, which comprises eight commercial units and five residential apartments https://m.independent.ie/business/commercial-property/clongriffin-investment-offers-10pc-yield/a2086381904.html
- Developer takes legal action over vacant properties allegedly being used for music gigs and raves: The plaintiff claims part of its property is being used as a venue for events including music gigs, raves, Irish language classes, and a herbal workshop. https://www.thejournal.ie/developer-takes-legal-action-over-vacant-properties-allegedly-being-used-for-music-gigs-and-raves-6237609-Nov2023/
- Approval granted for the construction of 26 new social houses in Cork town https://m.independent.ie/regionals/cork/news/approval-granted-for-the-construction-of-26-new-social-houses-in-cork-town/a691461053.html
- ‘A massive boost for the locality’: Plans for major marine activity centre in Cork town welcomed: The proposed development could include a recreational centre, slipway, events space and a café. https://www.echolive.ie/corknews/arid-41281285.html
- Action stations for hot-spot Donnybrook housing land sale – but this Donnybrook is in Cork, not Dublin’s home to RTÉ: One of the last remaining prime sites in and around Cork’s Douglas village expected to create some drama https://www.irishexaminer.com/property/commercial/arid-41279974.html
- Planning refused for apartments on Patrick St: Majorfield Ltd lodged an application with Cork City Council seeking to change the use of part of the ground floor and the entire first, second, and third floors from office space to residential https://www.echolive.ie/corknews/arid-41281447.html
- Council grants permission for construction of 235 new homes in Tralee https://www.radiokerry.ie/news/council-grants-permission-for-construction-of-235-new-homes-in-tralee-358837
- Major Galway town housing plan in works as estate planned for growing area: Only one derelict house would require demolition https://www.galwaybeo.ie/news/galway-news/major-galway-town-housing-plan-8942113
- An Bord Pleanala approves boutique hotel at Nun’s Island https://galwaybayfm.ie/galway-bay-fm-news-desk/an-bord-pleanala-approves-boutique-hotel-at-nuns-island/
- €500m masterplan for Cleeves site to make Limerick ‘world-class city’ https://www.limerickleader.ie/news/home/1358778/revealed-500m-masterplan-for-cleeves-site-to-make-limerick-world-class-city.html
- Limerick couple disputes council move to acquire part of their land to aid building of houses: The couple were informed that the council wanted to acquire the lands to facilitate the construction of houses in Adare Village https://www.irishexaminer.com/news/courtandcrime/arid-41278321.html
- Comer brothers spearhead ‘game-changing’ €30m investment in Waterford Airport: The billionaire brothers’ first major investment in the South East will see an extended runway at the airport to facilitate first international commercial flights since 2016 https://m.independent.ie/life/travel/travel-news/comer-brothers-spearhead-game-changing-30m-investment-in-waterford-airport/a1296638371.html
- Receivers chase Celtic Tiger developer for €1.2m debt amid row over Wicklow hotel licensing: Conor Clarkson is being sued over claims he sought to delay the sale of the Powerscourt Arms Hotel in Enniskerry https://www.businesspost.ie/news/receivers-chase-celtic-tiger-developer-for-e1-2m-debt-amid-row-over-wicklow-hotel-lisencing/
- Motions rejected regarding IPAS centre in Rosslare https://www.southeastradio.ie/motions-rejected-regarding-ipas-centre-in-rosslare/ Also: Former attorney General believes Wexford County Council should withdraw their referral to An Bord Pleanala regarding the proposed IPAS Centre in Rosslare. https://www.southeastradio.ie/former-attorney-general-believes-wexford-county-council-should-withdraw-their-referral-to-an-bord-pleanala-regarding-the-proposed-ipas-centre-in-rosslare/
- North Wexford quarry fail in bid to develop the site further https://m.independent.ie/regionals/wexford/gorey-news/north-wexford-quarry-fail-in-bid-to-develop-the-site-further/a1532296291.html
- Go ahead given for 14 new apartments at Clanbrassil Street in Dundalk – Louth County Council grant conditional planning permission https://www.ireland-live.ie/news/louth-live/1362931/go-ahead-given-for-14-new-apartments-at-clanbrassil-street-in-dundalk.html
- Carlow sees record number of home commencements recorded in the county this year https://www.ireland-live.ie/news/carlow-live/1357982/carlow-sees-record-number-of-home-commencements-recorded-in-the-county-this-year.html
- Laois County Council purchase site on former Avon factory and plan for business opportunities https://www.laoistoday.ie/2023/11/27/laois-county-council-purchase-site-on-former-avon-factory-and-plan-for-business-opportunities/
- Stradbally booming as 139 houses under various stages of development across three sites https://www.laoistoday.ie/2023/11/30/stradbally-booming-as-139-houses-under-various-stages-of-development-across-three-sites/
- Green light for Offaly housing development https://www.offalyexpress.ie/news/home/1361503/green-light-for-offaly-housing-development.html
- 40 new A-rated, energy-efficient homes for Birr https://www.offalyexpress.ie/news/midland-tribune/1361163/40-new-a-rated-energy-efficient-homes-for-birr.html
- Tipperary County Council gives go-ahead for major development at former lakeside hotel https://www.tipperarylive.ie/news/home/1360376/tipperary-county-council-gives-go-ahead-for-major-development-at-former-lakeside-hotel.html
- Nenagh councillors informed 189 houses going through various stages of the system https://www.ireland-live.ie/news/tipperary-live/1358244/nenagh-councillors-informed-189-houses-going-through-various-stages-of-the-system.html
- Planning refused for proposed new housing in Roscommon https://www.shannonside.ie/news/planning-refused-for-proposed-new-housing-in-roscommon-233202
- Plans for new Roscommon supermarket rejected https://www.shannonside.ie/news/plans-for-new-roscommon-supermarket-rejected-233162
- Longford Planning: Plans lodged for significant thirty home development https://www.longfordleader.ie/news/home/1356219/longford-planning-plans-lodged-for-significant-thirty-home-development.html
- Court hears of dispute over appointment of receivers to Conor Clarkson’s hotel: Developer Conor Clarkson, who owned the 2005 Cheltenham Gold Cup winner Kicking King, is a director of Bereyscape https://www.irishtimes.com/business/2023/11/27/court-hears-of-dispute-over-appointment-of-receivers-to-conor-clarksons-hotel/
- Irish bosses convicted of NY construction firm payroll fraud start jail terms https://www.irishexaminer.com/news/arid-41277616.html
- Coastal Wexford village site earmarked for business sells for €380,000: Six-bed property with field beside beach in coastal wexford village https://m.independent.ie/regionals/wexford/new-ross-news/coastal-wexford-village-site-earmarked-for-business-sells-for-380000/a952126375.html
- Louth contractor who defrauded finance company out of €369,000 avoids jail for second time https://m.independent.ie/regionals/louth/news/courts/louth-contractor-who-defrauded-finance-company-out-of-369000-avoids-jail-for-second-time/a1577554678.html
- Towering ambition: Interview with the founder and chair of Tide Construction, John Fleming – Tide Construction has taken volumetric modular development to new heights with the construction of the 50-storey co-living scheme Enclave. https://www.propertyweek.com/insight/towering-ambition-big-interview-with-the-founder-of-tide-construction/5127796.article
- Laing O’Rourke has posted a £288.1m loss following issues with inflation, project delays and a legacy contract in Australia. The UK’s largest privately-owned contractor has now made a combined pre-tax loss of £636.5m in its past 10 reported financial years https://www.constructionnews.co.uk/sections/contractors/laing-orourke/laing-orourke-plunges-to-288m-loss-30-11-2023/
- Quintain appoints Isabelle Gallagher as Head of Development – Executive has been a driving force behind Quintain’s developments in Adamstown, the company’s largest residential development project https://www.businesspost.ie/property/quintain-appoints-isabelle-gallagher-as-head-of-development/
PROPTECH, ESG & CONSTRUCTION INNOVATION

- Proptech Ireland is updating the database of 2023 Irish technology providers for the built environment – From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based proptech or MMC business sit? Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *https://prop-tech.ie/register/ * and email product or service details to hello@prop-tech.ie
- Proptech Ireland: Ireland’s CONSTRUCTION and REAL ESTATE ESG technologies resource hub. Confused about how and where to start on your ESG journey? Contact us 👉https://prop-tech.ie
- The 2023 Trends That Dominated Proptech: And some that fizzled — metaverse, anyone? https://commercialobserver.com/2023/11/2023-trends-proptech/
- Irish property-selling tech firm raises €2.1m in funding https://www.irishexaminer.com/business/companies/arid-41277985.html
- What can we learn from ‘The Matrix’? Emma Hayes, Managing Director, Digital Built Consultants, shares her vision of what the future for virtual teams in Irish construction could look like in light of compelling research and the impact of COVID19 https://bimireland.ie/2023/11/27/what-can-we-learn-from-the-matrix-with-emma-hayes/
- PropTech Today – Balancing AI innovation with the human touch https://www.estateagenttoday.co.uk/breaking-news/2023/11/proptech-today–balancing-ai-innovation-with-the-human-touch?source=newsticker
- The untold story behind the collapse of proptech unicorn Veev: Startup only received $200m of the $400m it raised in Series D and is now undergoing liquidation, with Lennar tabling an offer to fund the company’s ongoing activities https://www.calcalistech.com/ctechnews/article/hkhfvyhbp
ENERGY, CLIMATE & ENVIRONMENT

- Offshore wind offers huge potential to Irish business https://m.independent.ie/business/offshore-wind-offers-huge-potential-to-irish-business/a861445654.html
- Data centre moratorium could strangle digital growth and impact carbon targets: Limiting growth of data centres here threatens foreign direct investment, our digital economy and modern life https://www.irishtimes.com/business/2023/11/27/data-centre-moratorium-could-strangle-digital-growth-and-impact-carbon-targets/
- Government offshore energy plans will leave State trailing, leading developer claims: Investors believe ‘nothing is happening in Ireland’, says developer https://www.irishtimes.com/business/2023/12/02/government-offshore-energy-plans-will-leave-state-trailing-leading-developer-claims/
- Arklow Wind Bank Park 2 could generate €800 million economic benefit for Ireland https://wicklownews.net/2023/11/arklow-wind-bank-park-2-could-generate-e800-million-economic-benefit-for-ireland/
- Friends of the Irish Environment may seek role in LNG planning appeal case: Last September, An Bord Pleanála rejected application for the Shannon Estuary project https://m.independent.ie/business/irish/friends-of-the-irish-environment-may-seek-role-in-lng-planning-appeal-case/a303197505.html
- Planning approved for major wind energy development in Roscommon https://www.shannonside.ie/news/planning-approved-for-major-wind-energy-development-in-roscommon-233231
RESIDENTIAL PROPERTY NEWS (including PRS)

- Home Truths: The property market is changing but 13 years after its inception, the Price Register is still unreliable https://m.independent.ie/opinion/comment/home-truths-the-property-market-is-changing-but-13-years-after-its-inception-the-price-register-is-still-unreliable/a708103274.html
- New tenancies face 18% higher rents than existing ones in second quarter: Standardised average rent stood at €1,332 for existing tenancies nationally compared to €1,574 for new tenancies, a gap of €242 per month https://www.irishtimes.com/ireland/housing-planning/2023/11/30/new-tenancies-face-18-higher-rents-than-existing-ones-in-second-quarter/
- Almost two-thirds of households in receipt of Housing Assistance Payment were in employment: According to data from the Central Statistics Office, there were a total of 68,180 households in receipt of Hap last year https://www.irishtimes.com/ireland/housing-planning/2023/11/27/almost-two-thirds-of-households-in-receipt-of-housing-assistance-payment-were-in-employment/
- Landlords ‘very frustrated’ with RTB bureaucracy and backlogs, says lobby group https://www.breakingnews.ie/ireland/landlords-very-frustrated-with-rtb-bureaucracy-and-backlogs-says-lobby-group-1557577.html
- Too old to buy? The challenges of buying a house when you’re older. Shorter mortgage terms and higher monthly payment as banks are reluctant to lend beyond retirement dates https://www.irishtimes.com/your-money/2023/11/28/too-old-to-buy-the-challenges-of-buying-a-house-when-youre-older/m
- Exclusive Waterford development with houses exceeding €1m offers ‘stunning sea views’ https://m.independent.ie/regionals/waterford/news/exclusive-waterford-development-with-houses-exceeding-1m-offers-stunning-sea-views/a277658370.html
- Divine nine: Our favourite homes of 2023: The year’s standout residential properties from across the country https://www.irishtimes.com/property/residential/2023/11/30/top-property-our-favourite-houses-of-2023/
COMMERCIAL PROPERTY NEWS

- Challenges and opportunities shape Dublin’s industrial and logistics property market – With only nine speculative building starts for 2023, completions next year will likely fall below 1.2 million square feet https://www.businesspost.ie/property/challenges-and-opportunities-shape-dublins-industrial-and-logistics-property-market/
- Sharpest dip in investment property returns in Q3 since 2010: New research by JLL Ireland has shown that overall returns have dropped almost 10 per cent year-on-year https://www.businesspost.ie/news/sharpest-dip-in-investment-property-returns-in-q3-since-2010/Also: Index suggests weak property cycle may be approaching the bottom https://m.independent.ie/business/commercial-property/index-suggests-weak-property-cycle-may-be-approaching-the-bottom/a499452401.html
- Colliers: Residential and farm land markets prove resilient despite global challenges – Interest rate hikes and two major wars have taken their toll but though there is less need for offices, demand for homes in Ireland is still outstripping supply https://www.businesspost.ie/property/colliers-residential-and-farm-land-markets-prove-resilient-despite-global-challenges/
- Colm Lauder: Our new columnist on Ireland’s commercial property woes: Goodbody’s former head of real estate equity research warns that the Irish property investment structure is less transparent and no longer aligns with international norms https://www.businesspost.ie/analysis-opinion/colm-lauder-our-new-columnist-on-irelands-commercial-property-woes/
- At least 50,000 more nursing home beds needed by 2051, says report https://m.independent.ie/business/irish/at-least-50000-more-nursing-home-beds-needed-by-2051-says-report/a1185366541.html
- Retailers are expanding globally and they are also targeting Ireland’s consumers https://m.independent.ie/business/commercial-property/paul-mcneive-retailers-are-expanding-globally-and-they-are-also-targeting-irelands-consumers/a1152565689.html
- Shoppers assured that Brown Thomas and Arnotts not impacted by Austrian co-owner’s collapse: Thailand’s Central Group has already moved to take control of Selfridges, which owns the Irish retailers https://m.independent.ie/business/irish/shoppers-assured-that-brown-thomas-and-arnotts-not-impacted-by-austrian-co-owners-collapse/a673890966.html
- French fund snaps up Walkinstown Bank of Ireland for €4.2m: Property is let to Bank of Ireland on 25-year lease, with five-yearly rental uplifts of 15 per cent https://www.businesspost.ie/property/french-fund-snaps-up-walkinstown-boi-for-e4-2m/
- The man behind DID Electrical https://thecurrency.news/articles/135960/the-man-behind-did-electrical-and-much-more-besides-rewinding-the-week-that-was/
- Likely opening date for old Roches Stores building on Pana as work begins on facade: Huge works have already been completed on the inside https://www.corkbeo.ie/news/local-news/likely-opening-date-old-roches-28200947
- Revitalisation bid for empty retail units in Limerick city https://www.limerickleader.ie/news/home/1358385/revitalisation-bid-for-empty-retail-units-in-limerick-city.html
- Plans for Enniscorthy casino are put on ice after Wexford County Council refuse permission – An appeal has since been lodged with An Bord Pleanala https://m.independent.ie/regionals/wexford/enniscorthy-news/plans-for-enniscorthy-casino-are-put-on-ice-after-wexford-county-council-refuse-permission/a165825412.html
- Bewley’s back in profit as it awaits ruling on Harry Clarke windows https://m.independent.ie/business/irish/bewleys-back-in-profit-as-it-awaits-ruling-on-harry-clarke-windows/a1537965316.html
- Investment of €30m sees 1 Cumberland Place cut energy use by 63%: Ber rating of X’s European headquarter office jumps from E2 to B2 following works by Hibernia Reit and Hibernia Real Estate Group https://www.irishtimes.com/property/commercial-property/2023/11/29/investment-of-30m-sees-1-cumberland-place-cut-energy-use-by-63/
- French investor pays €4.175m for Bank of Ireland Walkinstown branch: MNK Partners in line for 6.42% net initial yield following off-market acquisition of Dublin 12 bank premises https://www.irishtimes.com/property/commercial-property/2023/11/29/french-investor-pays-4175m-for-bank-of-ireland-walkinstown-branch/
- Refurbishment plans for iconic Galway City Centre pub https://www.galwaydaily.com/news/refurbishment-plans-for-iconic-galway-city-centre-pub/
- ‘Landmark’ Galway pub buyer wanted to take over beloved bar as ‘no expense spared’: The pub has kept much of its original charm https://www.galwaybeo.ie/news/galway-news/landmark-galway-pub-buyer-wanted-8949136
- Judgment of €146m granted against co-owner of Parknasilla Hotel: Jacob E Safra resides for periods on his private Garinish Island off Kenmare Bay and is the co-owner of Parknasilla Hotel and owner of Rossdohan Island https://www.irishexaminer.com/business/arid-41280844.html
INTERNATIONAL PROPERTY NEWS

- European commercial property giant Signa ‘running out of cash’: Signa, which is an owner of New York’s Chrysler Building, has halted construction at six sites in Germany as interest rates bite https://www.irishexaminer.com/business/companies/arid-41278195.html
- Blackstone head Steve Schwarzman plans to spend billions buying up dorms, warehouses, and data centers across Europe: ‘We have enormous capital and can buy the types of real estate that we like’ https://fortune.com/2023/11/28/blackstone-steve-schwarzman-plans-spend-billions-buying-commercial-real-estate/
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/








