The availability of rental properties throughout the nation has significantly dwindled by over 60% compared to the pre-Covid era, as per the latest statistics by Savills estate agency. Even though Dublin is not financially robust, it is noteworthy that the capital exceeds all other 26 counties in terms of accessible rented housing.
The property sale rate wasn’t impressive either, yet the robust recovery in July mortgage approvals predominantly driven by new buyers, and a slight recovery in the mortgage-switching market did not deter it from bouncing back. Remarkably in July, mortgage approvals for first-time buyers surpassed €1 billion, marking a historical monthly high.
There is a worldwide push towards adopting more sustainable living standards to tackle emissions. However, if you find discrepancy in what your employer claims in the glitzy annual report about sustainability and the reality whereby the company’s pension scheme heavily invests in industries fuelling global warming, Joanne Hunt provides several useful tips.
Ryanair’s shares witnessed a significant surge on Tuesday after its chief executive, Michael O’Leary, hinted in an interview that the probabilities of a precipitous percentage decrease in standard air fares have been ruled out. John McManus bangs the drums of warning for the government to resist the coaxing of Michael O’Leary and DAA chief Kenny Jacobs who demand intervention in limiting passenger movement at Dublin Airport with misleading representations of a dip in tourism revenue.
Google faced a surprising denial from South Dublin County Council for the third phase of its Grange Castle data park’s proposal in Dublin. The reasoning stated “insufficient grid capacity and inadequate on-site renewable energy to power the data centre”.
Meanwhile, the industry regulator decided to levy a €100 spike in electricity bills given the nation’s grid operator, Eirgrid, and ESB Networks, need €1.4 billion for refurbishing and improving the current network, which is encountering difficulties to match up with the rapidly expanding demand and integration of renewables. Barry O’Halloran gives a more detailed account.
In the last two decades, nearly 25% of all pubs across Ireland have shut down, reveals data from the Drinks Industry Group of Ireland (Digi). Digi is a leading institution that represents the broader beverages and hospitality sector in Ireland. These statistics have been recorded since the smoking ban was implemented. The industry is seeking a reduction in excise duties, notes reporter Ronan McGreevy.
Coffee Angel, a highly successful café business, has been recently valued at €4.2 million during a corporate restructuring. The founder conveyed to Barry J Whyte that this valuation is subtle for a firm predicting a significant surge in sales and profit for the current year.
Marlet, owned by Pat Crean, outperformed Kennedy Wilson to trap Workday for its signature College Square office plan in Dublin’s heart. Ronald Quinlan, the property editor, mentioned that the US-based group is anticipated to rule over nearly 44,130 sq m (475,000 sq ft) of office space provided at that location.
In the initial half of the current year, the balance sheet of Barclays, the renowned UK banking institution’s European Union headquarters in Dublin, expanded over 5%, reaching €150 billion, penned by Joe Brennan, amid consideration about shifting the centre to Paris.
Fulfilling hospitality needs in Galway continues to be a thriving industry, writes Ronald Quinlan in the Commercial Property production. Sleepzone Hostel, a popular place, has renamed itself as The Dawson Hostel after it was apparently acquired by a group of undisclosed Irish investors for €5 million.
Lastly, Fiona Keeley discusses Trifol Resources, a Tipperary-based Irish fuel firm, which has just signed its initial contract with oil heavyweight Shell. This agreement enables the supply of a type of bio-oil known as pyrolysis, produced from plastic waste.