Property & Finance
There’s a lack of property supply to satisfy demand

By Ted Healy of DNG TED HEALY
Estate Agents the length and breath of the country are this week reporting very strong demand for appointments for physical viewings from prospective buyers keen to view properties first hand.
The opening of retail and personal services by appointment last week has given a much-needed boost to businesses across all sectors, including property and construction.
WORK FROM HOME
While the COVID-19 pandemic has prompted many Irish living abroad to return home, one of the emerging trends is the move by people out of cities to smaller towns and villages due to the ability to work from home. Remote working, a temporary measure implemented during lockdowns, is here to stay.
We are now seeing those people who flocked to our main urban centres for employment, reassess life and work life balance. The pandemic has thought us to appreciate other things and as such many young professionals are now considering relocating to the regions.
TREND
The ‘work from home’ phenomenon has made it possible to conduct business from the remotest parts of Ireland provided good connectivity is available. This is a trend being experienced in the Killarney market.
Since physical viewings returned last week a high number of people looking to return to Killarney to work from home have viewed properties. We noticed the trend developing during lockdowns when we were able to facilitate virtual viewings. This trend has continued since physical viewings were again permitted last week. In the past week alone, we have sold three properties to buyers returning to Killarney to work from home.
LACK OF SUPPLY
The burning issue currently is a lack of supply of properties to satisfy the demand. With suppressed supply of both new and second-hand homes comes increased demand. Killarney is currently experiencing a severe shortage of available properties for sale.
We have a list of ready to go purchasers seeking to buy homes in the Killarney area at present and we would be delighted to speak to anyone interested in listing their property for sale.
News
Cost of agricultural land set to increase by 8% this year
By Ted Healy of DNG TED HEALY The results of a survey on agricultural land values conducted by the Society of Chartered Surveyors Ireland (SCSI) was published earlier this week. […]

By Ted Healy of DNG TED HEALY
The results of a survey on agricultural land values conducted by the Society of Chartered Surveyors Ireland (SCSI) was published earlier this week.
It predicts an increase in land values by an average of 8% this year and an increase of 14% on average in rental values.
The report titled, ‘SCSI/Teagasc Agricultural Land Market Review & Outlook Report 2023’, analyses the agri sector performance over the past year and projects how it will perform over the next 12 months.
In all 134 agri professionals and valuers were surveyed, who expect the outlook for dairy farmers to ease and a challenging future for sheep and tillage farming.
Rental Land values in Munster increased by an average of 13% in the last year with a 9% increase experienced in Leinster.
The report indicates that the average non-residential farmland prices in 2022 ranged from €5,564 per acre for poor quality land – up five percent from €5,308 in 2021 – to €11,172 per acre for good quality land – up two percent from €10,962 the previous year. Strong demand from dairy farmers for good quality land is driving the market.
The majority of those surveyed believe there is likely to be an increase in demand from dairy farmers to purchase farmland in 2023.
One point to note however, is that changes to the European Nitrates Directive, particularly measures aimed at protecting water quality, may have an impact on land prices, especially rental prices.
In order to maintain current levels of milk production – and to comply with the directive – many dairy farms will need to either increase their land area or reduce milk production.
The Residential Zoned Land Tax (RZLT) is also coming down the line at an alarming rate, farmers have until May 1 to make a written appeal. Under the new legislation farmers owning currently zoned land face an annual tax bill of 3% of the market value of their zoned land.
This will result in countless numbers of landowners facing crippling tax bills from next year on. It is expected that this new tax may bring forward extra land sales later this year before the tax takes hold.
The IFA (Irish Farmers Association) have this week sought a senior counsel review of the legislation governing the Residential Zoned Land Tax.
News
What is a Fire Safety Certificate?
By John Healy of Healy Insurances A Fire Safety Certificate is an official document that verifies if a building design submitted as part of an application will, if constructed in […]

By John Healy of Healy Insurances
A Fire Safety Certificate is an official document that verifies if a building design submitted as part of an application will, if constructed in accordance with the plans and specifications approved by the Building Control Authority, comply with the requirements of the Building Regulations.
Fire Safety Certificates are issued by a Building Control Authority. The certificate confirms that the building has adequate escape facilities and that the building is designed in a way that prevents and limits the spread of fire. While all buildings must comply with the fire regulations, not all buildings will need a Fire Safety Certificate.
Which developments require a Fire Safety Certificate?
The Building Control Act (1990 & 2007) specifies the development types that require Fire Safety Certificates:
· Works in connection with the design and construction of a new building
· Works in connection with the material alteration of a day centre, a building containing a flat, a hotel, hostel or guest building, an institutional building, a place of assembly, a shopping centre
· Works in connection with the material alteration of a shop, office or industrial building where additional floor area is being provided within the existing building or where the building is being sub-divided into a number of units for separate occupancy
· Works in connection with the extension of a building by more than 25 square metres
· A building as regards which a material change of use takes place.
Some developments are exempted from requiring a Fire Certificate and can include:
· Certain single storey agricultural buildings
· A building used as a dwelling (other than a flat)
· A single storey domestic garage
· A single storey building ancillary to a dwelling which is used exclusively for recreational or storage purposes or the keeping of plants, birds or animals for domestic purposes and is not used for any trade or business or for human habitation
· Works in connection with a Garda station, a courthouse, a barracks and certain government buildings.
If a building is inspected by a member of the building control authority and it transpired that no Fire Safety Certificate is in place, the building could be subject to closure. For more information see www.kerrycoco.ie/home3/building-control/firesafetycerts.
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