Before we get stuck into the general property news of the week, below are a few local and international stories that might be of particular interest:
- Co-living is the biggest and most controversial story of the week: ‘Dún Laoghaire co-living scheme gets green light’ (image above) https://www.rte.ie/news/ireland/2019/0730/1066058-co-living-dun-laoghaire/ Also, this is the subject matter of a few opinion pieces across the broadsheets today. Cathal MacCoille writes ‘Affluent, single and ready to mingle? Co-Living is for you: No couples, families or introverts need apply for tiny quarters in Bartra’s new Dun Laoghaire co-living complex – and nurses, gardai and teachers couldn’t afford them’. And in The Sunday Times, Brenda Power sums it up nicely: ‘Co-living won’t make society go to the dogs’.
- Irish Housing Crisis: Tweet (above) showing long queue for house viewing in Cork causes despair | The Irish Post https://www.irishpost.com/news/irish-housing-crisis-tweet-showing-long-queue-house-viewing-cork-causes-despair-169490
- Thanks to Ronald Quinlan, deputy property editor of The Irish Times, for sharing this: How ‘Developer’ Became Such a Dirty Word – The New York Times https://www.nytimes.com/2019/07/29/upshot/developer-dirty-word-housing-shortage.html?smid=nytcore-ios-share
- Construction crumbles as companies hold off investment pre-Brexit https://www.telegraph.co.uk/business/2019/08/02/construction-crumbles-companies-hold-investment-pre-brexit/amp/
- A century of public housing: lessons from Singapore, where housing is a social, not financial, asset https://theconversation.com/amp/a-century-of-public-housing-lessons-from-singapore-where-housing-is-a-social-not-financial-asset-121141
- SO-IL designs affordable housing for urban centre in growing Mexican city https://www.dezeen.com/2019/07/29/las-americas-so-il-leon-mexico-affordable-housing/amp/
- Why you need to do environmental due diligence before buying a property https://www.engineersjournal.ie/2019/07/29/why-you-need-to-do-environmental-due-diligence-before-buying-a-property/
- Internet giant to build major new Cork wind farm https://www.corkbeo.ie/news/local-news/amazon-invest-major-new-wind-16681218
- Cautionary tale: Incorrect construction techniques behind loud creaking in Melbourne high-rise https://amp.theage.com.au/national/victoria/incorrect-construction-techniques-behind-loud-creaking-in-melbourne-high-rise-20190730-p52c5q.html
- Lendlease to redevelop Google’s Bay Area sites for $21bn https://www.itnews.com.au/news/lendlease-to-redevelop-googles-bay-area-sites-for-21bn-528387?
- More directors disqualified for office fit-out cartel https://www.theconstructionindex.co.uk/news/view/more-directors-disqualified-for-office-fit-out-cartel
If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/
As always, you might let me know if I have missed out on any relevant property news by emailing email@example.com.
(Apologies in advance for any typos, it’s difficult to get good help on a Sunday. Also, I use voice to text dictation so just sound out anything that really doesn’t make sense in a strong rural accent and that should help!)
Property Matters: Ireland’s First Weekly Property Radio Show (& Podcast!):
Ireland’s first weekly property radio show, Property Matters, launched In January 2019 on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (www.iPropertyRadio.com). Seasoned political broadcaster, Bryan Fox, and I (Carol Tallon) team up to deliver 60 minutes of industry chat with guests from the areas of planning, construction, property and proptech. Produced by Katie Tallon of Hear Me Roar Media.
This week we hosted a co-living special:
Featuring news of Bartra Capital’s Dun Laoghaire project and an interview with Housing Minister Eoghan Murphy.
We were also joined on air by Ed Burke, founder of RooMigo; Anil Khera, founder of Node; and recently successful tenant (Dublin via Paris) Claire-Maya Chawaf
Listen back to this week’s episode here: https://anchor.fm/ipropertyradio/episodes/Property-Matters–July-30th–2019-e4q3f7
*Listen back to all #PropertyMatters episodes here: https://anchor.fm/ipropertyradio
Email the Property Matters team at hello@iPropertyRadio.com
PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
- Why developers need to look at the value of placemaking – StreetDots https://www.streetdots.co.uk/why-developers-need-to-look-at-the-value-of-placemaking/
- Ballymore is coming home! As one of Ireland’s most prolific developers, the Ballymore team took pride in announcing that planning permission for 82 new homes and a riverside walk has been granted for their site in Ballymore, County Kildare (at the company’s former office, above).
- Pat Kenny to help fund High Court bid to block Bulloch Harbour development https://amp.breakingnews.ie/ireland/pat-kenny-to-help-fund-high-court-bid-to-block-bulloch-harbour-development-940492.html This is also covered by Roisin Burke in The Sunday Business Post today as local residents launch a fundraising drive to finance a High Court battle to reverse the decision of An Bord Pleanala.
- ‘We’re all Nimbys to a degree but some are better at how they put it’ writes Eilis O’Hanlon in the Sunday Independent. She is referring to the on-going controversy over the vacant Mount Anville Road plot that had been earmarked for traveller accommodation, which has been robustly opposed by Minister Josepha Madigan. It looks like this site will now be acquired by a private developer for an estimated €15 million.
- Developers lodge plans for major housing developments in three counties https://amp.breakingnews.ie/ireland/developers-lodge-plans-for-major-housing-developments-in-three-counties-940934.html Also, Gavin Daly reports today that An Bord Pleanala has given fast-track approval for 3,000 apartments and 1,900 houses in the first half of the year.
- BusConnects Redesigns Bring Relief to Some Neighbourhoods, Disappointment to Others https://www.dublininquirer.com/2019/07/31/busconnects-redesigns-bring-relief-to-some-neighbourhoods-disappointment-to-others
- Limerick City – A City on the Rise | PLACEengage https://placeengage.com/limerick-city-a-city-on-the-rise/
- Kilkenny city development project launched https://www.rte.ie/news/leinster/2019/0801/1066455-kilkenny-city-development/
- Your super swift guide to discovering the most spectacular things to do in The Liberties | Her.ie https://www.her.ie/amp/entertainment/your-super-swift-guide-to-discovering-the-most-spectacular-things-to-do-in-the-liberties-474288
*PLACEengage: The future of speedy, successful placemaking for property developers is here – Property developers and project owners ready Public Consultation are encouraged to contact the PLACEengage team for full details*
OTHER PROPERTY NEWS
- In the Sunday Independent today, Michael Cogley reports that a working group made up of key stakeholders (including Depts. of Housing, Finance, Tourism, the Attorney General, An Bord Pleanala and Dublin City Council) has recommended that a levy be imposed on companies like Airbnb and Booking.com to fund the regulation of the short-term lettings sector.
- The same journalist reports that the volume of active construction sites across Dublin city has “plummeted by almost 40%” over the past 12 months.
- Green Reit is apparently looking to include a cinema on its One Molesworth Street development, next to the Ivy hotel.
- Also in the Independent today, Conall MacCoille has an interesting opinion piece headed: ‘No easy answers for the housing market as supply crunch looms’. He maintains that the Centrals Bank’s lending rules of 3.5 times salary need to stay. He also points out that rent controls are not the answer [I disagree slightly here, I believe that they are a necessary part of the solution – but only one part].
- Wayne O’Connor reports that Tipperary County Council looks set to reject Pater Casey’s offer to acquire the homes rejected by traveller families during the presidential race controversy.
- The Sunday Times has an in-depth feature on the Arden Forestry Management/eco land investment saga on page 5 of the Business section.
- Gavin Daly in the Times today reports that Avestus Capital Partners and Ares Management are planning to develop 575 apartments on John Fleming’s former site on Carmanhall Road in Sandyford for the BTR sector; also, Larry Goodman has raised his stake in Green Reit to just over 5%, ahead of potential sale.
- Also in The Sunday Times, Brian Carey reports that Alansi Capital is to buy the Meyrick and G Hotel in Galway for €40 million plus.
- The lead story in The Sunday Business Post today reveals that ‘Government rejected advice to make Airbnb enforce rental rules’. Instead, this has been left up to local councils to enforce.
- Following on from that story, only a fraction of the landlords who have rented out properties on Airbnb and other “home-sharing” websites have registered them under the Government’s new short-term letting rules, according to The Irish Times this week. Figures obtained from local authorities in rent pressure zones – in Dublin, Cork, Galway and Limerick where the housing crisis is at its worst – show few people have registered their properties despite the regulations coming into effect on July 1st. Dublin City Council received only 110 registrations in stark contrast with the 6,228 active rentals in Dublin on Airbnb. Galway City Council has received eight registrations, Limerick City Council received just two notifications and Cork County Council received two (full story here: Only a fraction of Airbnb landlords register under new letting rules https://www.irishtimes.com/news/ireland/irish-news/only-a-fraction-of-airbnb-landlords-register-under-new-letting-rules-1.3969974?mode=amp).
- ‘Planning rules to tighten for one-off rural housing needs’, writes Michael Brennan in The Sunday Business Post today. These new guidelines – initially for Leinster – have been published by the Eastern and Midlands Regional Assembly a continuation of the local development trends and the course set out by the National Development Plan.
- Killian Woods reports that Nijinsky Property Limited (Comer brothers) has been issued with a warning about unauthorised construction regarding stables at the former Kilternan hotel and golf resort in South Dublin (racehorse centre of excellence).
- The same journalist reports that the shelved Dart Underground project has delayed development plans for the O’Callaghan hotel group.
- Also in The Sunday Business Post via Construction Information Services (CIS): Pyrmont Property Development has secured planning for 196 BTR apartments at Cookstown Way, Tallaght; Marlet Property Group has lodged plans for an €84 million mixed-use development at Grand Canal Harbour; Hunt Capital has sought planning for 104 apartments at Johnstown, Navan, County Meath; plans have been approved for the €14 million redevelopment of Galway Racecourse.
- Going down: Property prices cool as affordability bites https://www.irishtimes.com/life-and-style/going-down-property-prices-cool-as-affordability-bites-1.3973198?mode=amp
- ‘There is no holiday from homelessness’: Government criticised as figures reach 10,000 for fifth month https://www.thejournal.ie/slight-dip-in-homeless-figures-4747942-Jul2019/?amp=1
- Cliff Taylor: We need affordable homes, not unaffordable loans https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/economy/cliff-taylor-we-need-affordable-homes-not-unaffordable-loans-1.3969990?mode=amp
- KBC cuts two and 10 year mortgage rates – Independent.ie https://amp.independent.ie/business/personal-finance/kbc-cuts-two-and-10-year-mortgage-rates-38365774.html
- Ongoing lack of clarity on funding is ‘not inhibiting’ popular mortgage scheme in any way, says government https://www.thejournal.ie/rebuilding-ireland-home-loan-3-4747251-Aug2019/
- Disputes between landlords and tenants increased by 10% last year https://www.thejournal.ie/rtb-disputes-increase-4748392-Jul2019/?amp=1
- AIB seeks ‘ethical’ buyers for non-performing loans https://www.irishtimes.com/news/ireland/irish-news/aib-seeks-ethical-buyers-for-non-performing-loans-1.3971253?mode=amp
- Housing charities to bid for €1bn of AIB’s bad loans in boost for struggling families https://m.independent.ie/business/personal-finance/housing-charities-to-bid-for-1bn-of-aibs-bad-loans-in-boost-for-struggling-families-38357840.html
- More student beds than apartments given go ahead under fast-track system https://www.irishtimes.com/news/social-affairs/more-student-beds-than-apartments-given-go-ahead-under-fast-track-system-1.3974635?mode=amp
- Construction costs forecast to rise 6.3pc this year, fueled by new green energy standards – Independent.ie https://amp.independent.ie/business/construction-costs-forecast-to-rise-6-3pc-this-year-fueled-by-new-green-energy-standards-38356249.html
- Minister considering ‘use-it-or-lose-it’ rule to get developers building faster https://m.independent.ie/business/personal-finance/property-mortgages/minister-considering-useitorloseit-rule-to-get-developers-building-faster-38353567.html
- Financing of 1,150 new homes in west Dublin may be delayed by court challenge https://www.irishtimes.com/business/construction/financing-of-1-150-new-homes-in-west-dublin-may-be-delayed-by-court-challenge-1.3970954?mode=amp
- Hammerson plans further residential development at Dundrum – Independent.ie https://amp.independent.ie/business/commercial-property/hammerson-plans-further-residential-development-at-dundrum-38353858.html
- Republic set to become biggest EU market for Kennedy Wilson https://www.irishtimes.com/business/retail-and-services/republic-set-to-become-biggest-eu-market-for-kennedy-wilson-1.3974632?mode=amp
- Next Generation of Sustainable Social Housing in Kerry | Construction BUSINESS http://www.constructionbusiness.ie/next-generation-of-sustainable-social-housing-in-kerry/
- Construction industry in West calls for review of delays in planning process – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/construction-industry-in-west-calls-for-review-of-delays-in-planning-process/
- Fears of cuckoo funds swooping into the Limerick housing market https://www.limerickleader.ie/news/home/435413/fears-of-cuckoo-funds-swooping-into-the-limerick-housing-market.html
- Work on State’s longest bridge delays New Ross bypass opening https://www.irishtimes.com/news/ireland/irish-news/work-on-state-s-longest-bridge-delays-new-ross-bypass-opening-1.3970078?mode=amp
- Profits soar at Pepper on gains made from home loan sale https://www.irishtimes.com/business/financial-services/profits-soar-at-pepper-on-gains-made-from-home-loan-sale-1.3969992?mode=amp
- Hibernia REIT expects office vacancy rate to fall to 5% https://www.rte.ie/news/business/2019/0731/1066200-hibernia-reit-expects-office-vacancy-rate-to-fall-to-5/
- And a follow on piece: Hibernia Reit reports lower office take up as large transactions fall – Independent.ie https://m.independent.ie/business/commercial-property/hibernia-reit-reports-lower-office-take-up-as-large-transactions-fall-38361868.html
- Green Reit confirms talks with Henderson Park over possible sale https://www.irishtimes.com/business/commercial-property/green-reit-confirms-talks-with-henderson-park-over-possible-sale-1.3973027?mode=amp
- Union Says Workers on Trinity College Construction Site Aren’t Being Paid Legal Rates https://www.dublininquirer.com/2019/07/31/union-says-workers-on-trinity-college-construction-site-aren-t-being-paid-legal-rates
- SF Bill seeks to make construction sector pay levy for defects https://www.irishtimes.com/news/ireland/irish-news/sf-bill-seeks-to-make-construction-sector-pay-levy-for-defects-1.3972395?mode=amp
- Executive Appointment: Hibernia REIT plc – Property District | Irish Property Services https://propertydistrict.ie/executive-appointment-hibernia-reit-plc/
THE AGILE AGENT
GETTING IRELAND’S PROPERTY MARKETPLACE DIGITAL BY DEFAULT
The Agile Agent is a 12-month digital transformation programme for independent Irish estate agents and auctioneers, which runs from September – August. This programme will be delivered by a multi-disciplinary Irish and UK team and will go beyond proptech adoption to help agents get their industry digital by default.
To get involved and for free Proptech Prompts, please
PROPTECH AND CONSTRUCTION INNOVATION
- From smart design and planning right through to the smart property transaction, where does your Irish-led or Ireland-based #proptech business sit? Pease take five minutes to add or update your details to our internationally-shared listing here: SIGN UP HERE: *PROPTECH INNOVATORS and STARTUPS *
- From Spanish Proptech: ‘Call for #PropTech #startups! Help us, as representative of #ProptechHouseEU to identify what are the challenges you face when expanding and #scaling-up! Answer this survey so we can present your priorities at the EU Commission’
EU Pilot 1 – Priorities for the PropTech Startups & Scale-Ups based in Europe https://docs.google.com/forms/d/e/1FAIpQLSePV6SpXTpDHUU5EQzTNbwFWDLHwb4AC32uF30WVfJjKFbjpg/viewform
- Proptech Continues to Ride High https://www.cpexecutive.com/post/amp/proptech-industry-continues-to-ride-high/ (image above).
- Top Tips To Navigate The Hyped-Up PropTech Landscape By JLL Spark https://www.forbes.com/sites/angelicakrystledonati/2019/07/28/tips-to-navigate-the-hyped-up-proptech-landscape-by-jll-spark/#716586721232
- The New Frontier That Could Outrun AI And Blockchain: Real Estate Tech https://www.forbes.com/sites/forbestechcouncil/2019/07/29/the-new-frontier-that-could-outrun-ai-and-blockchain-real-estate-tech/
- Old Property Giants to Support Rising Proptech Newcomers | CDOTrends https://www.cdotrends.com/story/14391/old-property-giants-support-rising-proptech-newcomers
- Digitizing construction sites with Scaled Robotics – TechCrunch https://techcrunch.com/2019/08/02/digitizing-construction-sites-with-scaled-robotics/
- UrbanClap, India’s largest home services startup, raises $75M – TechCrunch https://techcrunch.com/2019/08/01/urbanclap-indias-largest-home-services-startup-raises-75m/amp/
- PlaceTech | 5 hot CRE technology buzzwords defined https://placetech.net/insight/5-hot-cre-technology-buzzwords-defined/
- Using Tenant Experience to Court Investors: Part I https://www.cpexecutive.com/post/using-tenant-experience-to-court-investors-part-i/
- How Dublin startup Geowox is taking the grunt work out of property valuations – Fora https://fora.ie/geowox-property-4736391-Jul2019/
- Meet Brendan Wallace, Co-Founder and Managing Partner at Fifth Wall Ventures https://vator.tv/news/2019-07-29-meet-brendan-wallace-co-founder-and-managing-partner-at-fifth-wall-ventures?
- Proptech is ‘changing the industry’, claims expanding agency https://thenegotiator.co.uk/petty-real-proptech/
- German proptech startup Seniovo raises €2 million in Series A for barrier-free reconstruction – Tech.eu https://tech.eu/brief/german-proptech-startup-seniovo-raises-e2-million/
- Proptech Continues to Ride High https://www.cpexecutive.com/post/proptech-industry-continues-to-ride-high/
- Proptech Moves up Cityscape Global Agenda – Construction Business News Middle East http://www.cbnme.com/news/proptech-moves-up-cityscape-global-agenda/
- PropTech: Transforming Real Estate with Blockchain, Artificial Intelligence, Big Data and the Internet of Things | BTCMANAGER https://btcmanager.com/proptech-real-estate-blockchain-artificial-intelligence-big-data-internet-things/
- Build-to-rent referrals platform that aims to boost business for agents plans expansion – Property Industry Eye https://propertyindustryeye.com/build-to-rent-referrals-platform-that-aims-to-boost-business-for-agents-plans-expansion/
- City analysts warn investors of ‘signs of cracks’ at Rightmove https://propertyindustryeye.com/city-analysts-warn-investors-of-signs-of-cracks-at-rightmove/
- The ultimate estate agents’ sector guide to: Proptech https://thenegotiator.co.uk/ultimate-guide-proptech/
- What Do Judges Look For in a PropTech Startup Competition? | Propmodo https://www.propmodo.com/what-do-judges-look-for-in-a-proptech-startup-competition/
- How technology is fuelling the rise of flexible office space https://www.jll.com.au/en/trends-and-insights/workplace/how-technology-is-fuelling-the-rise-of-flexible-office-space
- PropTech Pioneers: agents can join WhatsApp lead-response project https://www.estateagenttoday.co.uk/breaking-news/2019/7/proptech-breakthrough-agents-can-join-whatsapp-lead-response-project
- Blending Modernity And Tradition: Proptech In The Rehabilitation Of Portugal’s Cities – Real Estate and Construction – Portugal http://www.mondaq.com/x/831982/real+estate/Blending+Modernity+And+Tradition+Proptech+In+The+Rehabilitation+Of+Portugals+Cities
- PropTech Pioneers: agents can join WhatsApp lead-response project … https://www.estateagenttoday.co.uk/breaking-news/2019/7/proptech-breakthrough-agents-can-join-whatsapp-lead-response-project?source=newsticker
- Antai Venture Builder to launch auto, proptech startups | AIM Group https://aimgroup.com/2019/08/01/antai-venture-builder-to-launch-auto-proptech-startups/
- Rental platform already backed by Google raises a further £1.5m in bid to shake up sector – Property Industry Eye https://propertyindustryeye.com/rental-platform-already-backed-by-google-raises-a-further-1-5m-in-bid-to-shake-up-sector/
- Cushman & Wakefield partners with Fifth Wall | Real Estate Weekly https://rew-online.com/2019/08/cushman-wakefield-partners-with-fifth-wall/
- Augmented and Virtual Reality in PropTech – TechRound https://techround.co.uk/tech/augmented-virtual-reality-proptech/
NEW FACEBOOK GROUP FOR IRISH PROPERTY BUYERS & INVESTORS
Crowd-sourcing answers topical property questions:
As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) was rebranded in 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.
From 2019, the publishers and I want to ensure the content remains topical and we are doing this by crowd-sourcing home buyer and investor queries, with crowd-sourced and editorial team answers. Join the Facebook Group here to contribute: https://www.facebook.com/groups/IrishPropertyBuyers/