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23 Feb 2022

Crane Survey 2023

Real Estate planning and development statistics

Download Crane Survey 2023 - Planning & Development Statistics
16 MB PDF

Welcome to the Deloitte Annual Crane Survey report. This report provides a detailed analysis of the development landscape in the Republic of Ireland. It discusses indicators across the development cycle; planning applications, plannings permissions granted, commencements and completions. Such indicators are reviewed across both the residential and commercial property markets with key trends highlighted in each.

 

In addition to analysing development activity, the report also provides an overview of the draft Planning & Development Bill, a review of the current funding landscape and finally tax changes which impact the market.

"2022 saw changes to the funding landscape, both for investors and developers. Risk appetite amongst traditional banks has softened, although there are nuances and sector variations. The current environment is however creating opportunities for alternative lenders and debt funds. In essence, viability is at the core. Where projects are viable and well structured, funding can be secured with various debt and equity options available. Borrowers are encouraged to explore all their funding options and ensure the opportunity is structured appropriately in order to secure the most attractive funding package."

" 2022 was a positive year for residential completions, however, trends in commencements data indicate this improvement is unlikely to be sustained in 2023. Questions need to be asked on why this decline was recorded and what is preventing the market from continuing to see a rise in new delivery. We believe the issue revolves around planning, costs, funding and infrastructure. Combined, these create viability concerns. Positively, these are interlinked and therefore changes to one element, may positively impact another. "

"ESG considerations are expected to remain a central part of future office development or even more so, office refurbishment. As occupier preferences place increased importance on energy requirements, greater questions will be asked as to the suitability of older stock within the city centre and suburbs. In order to bring these back into the demand bracket, significant work will need to be undertaken, however will this take place in form of extensive refurbishments, demolition and rebuild, or perhaps even change of use?"

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Get in contact

John Doddy

Partner | Head of Debt & Capital Advisory
+353 1 417 2594

Michael Flynn

Partner | Infrastructure and Capital Projects
+353 1 417 2515

Kate English

Director, Head of Real Estate Research, Financial Advisory
+353 1 417 1385

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