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Investors make a return to the local property market

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Investors are making a return to the property sector in Galway for the first time since the collapse of the market, a leading local auctioneer has claimed.

Colm O’Donnellan, of O’Donnellan & Joyce Auctioneers said his latest auction – which recorded more than €2.8 million worth of sales – saw significant interest from investors.

It comes as local builders O’Malley Construction re-start work on two development sites in Galway City, where they are employing around 50 people.

Mr O’Donnellan told Tribune Property: “There is evidence that investors are starting to return to the market in force, as they are seeing prices starting to rise.

“Bear in mind that if you require property at the moment and hold it for a period of seven years you will not be liable for Capital Gains Tax, and this makes it attractive for investors,” said Mr O’Donnellan.

At the auction, a total of 19 properties went under the hammer, with 16 selling – many of the properties sold for in excess of their Advised Minimum Values (AMVs).

“The properties attracted a phenomenal amount of interest and we are starting to see prices moving up, particularly around the city area where there was a large number of interested parties bidding on each property,” he said.

‘Óstán Cheathrú Rua’ – a 26-bed hotel “which has seen better days” and is in need of major refurbishment was the highlight of the afternoon.

For more, read this week’s Galway City Tribune.

Connacht Tribune

Former Manchester United star joins forces with Galway tech company

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New alliance...Rachel Kavanagh, CMO Clubforce; Garry Stannett, CEO Rio Ferdinand Foundation, and Noel Murray, CEO, Clubforce.

A Galway enterprise that started out as a pet project to establish a fundraising tool for Irish Diaspora to send money to their GAA clubs back home has now teamed up with an English football legend – to drive inclusivity in sport.

Clubforce, founded by Warren Healy in Carna back in 2009, has joined forced with the Rio Ferdinand Foundation, a youth and community development charity which works in the heart of the UK’s most disadvantaged communities.

The Rio Ferdinand Foundation was set up in 2012 by the former professional footballer, following issues of inequality he experienced in his own life.

It is now working in communities across Ireland and the UK, with regional hubs in Belfast, Manchester, and London – supporting more than 10,000 youths, helping them to realise their potential.

Foundation Founder, former Manchester United and England centre-half Rio Ferdinand, said he was ‘delighted to collaborate with a community-focused software company developing technology to promote sports participation and make sport accessible to all’.

“We are on the same journey,” he said.

Clubforce CMO Rachel Kavanagh said they had huge admiration for the work done by the Rio Ferdinand Foundation – particularly for girls.

“I’m especially excited to hear about programs such as GoGirl, building the confidence of young women and girls to achieve their potential. We’re looking forward to contributing to the efforts made by the Foundation to drive inclusion and sports participation across genders in both geographies,” she said.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

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Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

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Connacht Tribune

New domain registrations reveal growth of almost 7% over first half of year

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Figures...David Curtin.

Traditional businesses are embracing their online presence now more than ever in the aftermath of Covid – with Galway companies showing a growth of almost seven per cent in new domain registrations post-pandemic.

That’s according to the latest statistics released by .IE, Ireland’s country domain manager. 

There were 1,236 new .ie domains registered in Galway in the first half of this year, representing growth of 6.6% over pre-pandemic 2019.

That figure accounted for over half of the 2,352 new .ie domains registered in Connacht between January and June 2022, as the database reported 2.6% year-on-year growth, with new registrations returning to pre-pandemic levels.

Identifying with place proved very popular for new .ie registrations in H1 2022. In Galway, the top three keywords in new .ie domain registrations were ‘Galway’, ‘Ireland’ and ‘Irish’.

At the end of June, the total .ie database stood at 332,642 domains.

Limerick recorded the highest percentage growth among the major urban counties (Dublin, Cork, Galway and Waterford) over the first half of 2022 compared to the same period in 2019.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

 

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Connacht Tribune

Large numbers of younger Irish workers plan to change jobs in next two years

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Gary Notley...workers reassessing options.

More than half of the co-called Gen Z’s and only slightly less of our millennials plan to leave their current jobs for pastures new in the next two years.

That’s according to a new Deloitte Ireland survey which revealed that 56% of Gen Zs and 40% of millennials plan to leave their current roles in that time.

It also found that 53% of millennials believe the economic situation will worsen in the next twelve months, compared to 36% of Gen Z.

And 55% of Irish millennials cite the cost of living as being their number one greatest concern with one in four of them leaving their organisations in 2022 as a result of burnout.

Gen Z refers to the generation of people born in the late 1990s and early 2000s, while millennials are those reaching young adulthood in the early 21st century.

Overall, the survey found that both cohorts are concerned about an economic downturn – but they desire a better work/life balance and want more flexible working arrangements than they currently have.

The Irish participants were taking part in the Millennial and Gen Z global study of over 45 countries – and they said they are more willing than ever to leave for fresh opportunities.

They are seeking options to provide them with better salary/reward, work life balance, higher flexibility and opportunity offered by employers, and, to a lesser extent, organisations focused on climate change.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

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