It might have been a great weekend for Ireland (thanks to St. Patrick and the entire Irish rugby team!) but it has been a less than stellar morning here in Wicklow as we have woken up to unexpected snow drifts – so much for a light dusting.
The car is not going anywhere today so the only broadsheet articles included in the round-up this week are those available online. Below is a weekly catch-up on the property stories that caught my attention. As always, you might let me know if I have missed out on any interesting property news by emailing email@example.com.
(Apologies in advance for any typos, it’s difficult to get good help on a Sunday!)
Trends from MIPIM
The long weekend might be a good time to catch up on European and global industry trends. Although I missed MIPIM in Cannes this year, reading up on all the hot topics – in between yacht party shots, of course – there appears to be a growing focus on proptech, data and offsite manufacturing.
- MIPIM Final Wrap: Top Innovation Trends, and the 20 quotes that made the market:https://www.globalrealestateexperts.com/2018/03/mipim-final-wrap-top-innovation-trends-and-the-20-quotes-that-made-the-market/
- Observations from MIPIM:
Trending Property Stories
New guidelines on the design of apartments
- Setting new standards for apartments – The housing department’s light touch regulations remove many of the rules surrounding apartment building — but this may not increase supply: https://www.thetimes.co.uk/edition/ireland/setting-new-standards-for-apartments-lhqgwp7q7
- Mixed response to new apartment design guidelines: https://www.rte.ie/news/2018/0314/947316-housing-construction-apartment-design/
- Plans to ‘lower’ apartment standards slammed: https://amp-irishexaminer-com.cdn.ampproject.org/c/s/amp.irishexaminer.com/ireland/plans-to-lower-apartment-standards-slammed-468314.html
- Opposition to New Apartment Guidelines Highlights Confusion Between Viability and Affordability: http://www.victoriahomes.ie/2018/03/16/opposition-new-apartment-guidelines-highlights-confusion-viability-affordability/
- Introducing micro-apartments in Greater Manchester – A former office block in Cheadle Hulme is being transformed into tiny flats, the smallest of which is just 30 sqm – or 323 sq.ft: https://www-manchestereveningnews-co-uk.cdn.ampproject.org/c/s/www.manchestereveningnews.co.uk/news/property/new-micro-apartments-smallest-flats-14390513.amp
[Any headline here will read as unpatriotic…]
‘Extraordinary’ – Varadkar under fire after revealing details of intervention over Doonbeg wind farm proposal
- Varadkar recounts first Trump conversation – which was about Doonbeg – at Speaker’s Lunch
- As then-Sports Minister Varadkar made call to Clare County Council about planning application
- Taoiseach says application ‘probably have been declined anyway’
- Opposition call for detailed explanation
- Clare County Council say ‘no representation by Leo Varadkar’ on planning file
- Clare landowner ‘surprised and shocked’ by Varadkar’s comments about wind farm: The Taoiseach later said he was making a joke: http://www.thejournal.ie/clare-landowner-wind-farm-3910551-Mar2018/
Other property news
- While not unexpected, it was good news for the industry earlier this week as Manley Construction successfully exited the examinership process. ‘Jobs saved as Manley Construction exits examinership’: https://www-rte-ie.cdn.ampproject.org/c/s/www.rte.ie/amp/947965/
- Property prices soared 12.5pc year-on-year and are continuing to rise: https://amp-independent-ie.cdn.ampproject.org/c/s/amp.independent.ie/business/personal-finance/property-mortgages/property-prices-soared-125pc-yearonyear-and-are-continuing-to-rise-36704190.html
- KBC fuels the mortgage war as bank cuts a string of interest rates: https://www.independent.ie/business/personal-finance/property-mortgages/kbc-fuels-the-mortgage-war-as-bank-cuts-a-string-of-interest-rates-36710947.html
- Urbeo housing fund to raise €400m to invest in rental sector- Fund will seek to provide housing for low and middle income households: https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/urbeo-housing-fund-to-raise-up-to-400m-to-invest-in-rental-sector-1.3426636?mode=amp
- What were the biggest commercial property deals of 2017? Spend in the sector last year was lower than 2016 but 30% above 15-year average: https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/what-were-the-biggest-commercial-property-deals-of-2017-1.3426094?mode=amp
- Glenveagh in talks to buy Irish land from overseas funds – House builder estimates land could deliver 17,000 homes: https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/glenveagh-in-talks-to-buy-irish-land-from-overseas-funds-1.3425952?mode=ampDAA goes back to market for proposed four-star hotel at Dublin Airport: https://www.irishtimes.com/business/transport-and-tourism/daa-goes-back-to-market-for-proposed-four-star-hotel-at-dublin-airport-1.3429925
- How Residential and Office Developers Are Preparing for the Realities of Net Zero: https://urbanland.uli.org/sustainability/residential-office-developers-preparing-realities-net-zero/
- While it is not property-related, the following article from Vogue shows a different side to Dublin than we normally see through property portals etc. ‘The Celtic Cool Girl’s Guide to Dublin: Where to Eat, Drink, Shop, and Wander’: https://www.vogue.com/article/celtic-cool-girl-guide-to-dublin
- Irish neighbours may soon be able to sell each other electricity via blockchain: https://www.siliconrepublic.com/machines/blockchain-enerport-electricity-peer-to-peer
Congratulations to the team at Stewart Construction for being named Ireland’s Best Managed Company for 2018 by Deloitte. Director Rachael Stewart explains:
“Most people think a building project is just about price, but we know the real key to successful delivery relies on the people, the place and the all-important processes. We have been quick to embrace new technologies and deploy them in regional areas, I have no doubt that this has made all the difference“.
- Industrial property ‘sought after’ by European investors – Annual CBRE report notes demand mirroring trend globally as premier asset class: https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/industrial-property-sought-after-by-european-investors-1.3422946?mode=amp
- Insights from the latest Cushman & Wakefield quarterly bulletin, which provides an overview of the office and industrial markets in Cork, Limerick and Galway: http://bit.ly/1oR65PH
- Another interesting read is the Wealth Report from Knight Frank Ireland: http://bit.ly/1fKHSOI
- Although it was published last year, I only recently came across this article about emerging architectural talent in Ireland and thought it might be worth sharing: ‘If you’re building it, they will come: Ireland’s new architects. These dynamic young practices are defining a new movement in modern Irish architecture’: https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/life-and-style/homes-and-property/if-you-re-building-it-they-will-come-ireland-s-new-architects-1.3229147?mode=amp
- The world’s first occupational health and safety international standard, ISO 45001, was published on 12thMarch 2018 (ISO 45001): http://www.collen.com/misc/news_articles/news_summary/18-03-13/NSAI_launch_new_Health_and_Safety_Standard_ISO_45001_in_conjunction_with_Collen_Construction_Ltd.aspx
The generous people at Future:Proptech extended a special St. Patrick’s Day weekend discount for Irish property professionals, innovators and investors heading over to their London conference in May (discount code Carol2018 for 20% off – I’m not working for them or on commission, I’m just looking forward to a great conference!) https://futureproptech.co.uk/
- PropTech Baltics has announced the launch ofRealBox, the first PropTech sandbox in the world, aimed at companies worldwide and inviting them to test and pilot their projects in Lithuania. The innovative concept, unveiled on March 14 during the MIPIM real estate exhibition in Cannes, France, is a global first and is aimed at all PropTech companies including service parking, RE management, VR and big data: http://emerging-europe.com/in-brief/worlds-first-proptech-sandbox-opens-lithuania/
- Why 2018 will be the year of the “Real Estate Tech” movement: https://www.linkedin.com/pulse/remarks-dror-poleg-why-2018-year-real-estate-tech-movement-michel-1/
- Bank of Ireland invites applications for New York incubator – Seven companies will be offered space in Manhattan office and get expert mentoring: https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/economy/bank-of-ireland-invites-applications-for-new-york-incubator-1.3428879?mode=amp
- To keep up-to-date on all things tech and innovation for the planning, construction and property industries, head over to http://www.prop-tech.ie, the national resource website for innovators, investors and mentors or email firstname.lastname@example.org .
Property Insiders Guide
As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) has undergone a rebrand for 2018 and will now appear as part of The Property Insider series, published by Oak Tree Press, the first three titles are now published and available here.