Good afternoon folks, if you missed last week’s Sunday Property Round-Up, which was full of industry and tech/innovation news, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/
The Sunday Independent is the broadsheet of choice today with above-average property coverage and many insightful columns from a range of industry contributors. If your interest is more towards innovation, technology or proptech, then The Sunday Business Post is your pick of the day as today’s edition includes Ireland’s 100 Hot Start-ups for 2019 (you might see a familiar face in there with PLACEengage!).
Before we get started, I just want to draw your attention to two news items that might be of particular interest:
- SA millennials, also known as Generation Rent, spend 24% of salaries on rent (40% in the bigger cities). New proptech startup Flow is a mobile app that will reward tenants for good behaviour and if they are “fully in Flow, they can get up to 20% of their rent back.”
- Precht’s The Farmhouse concept combines modular homes with vertical farms (pictured above) https://www.dezeen.com/2019/02/22/precht-farmhouse-modular-vertical-farms/
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!)
Sunday Listen: #PropertyMatters Tuesdays 6-7pm
Ireland’s first weekly property radio show, Property Matters, launched last month on Dublin South FM 93.9 and is now available internationally via iTunes and Spotify podcast (@iPropertyRadio). Seasoned political journalist and broadcaster, Bryan Fox, and I (Carol Tallon) team up to deliver 60 minutes of industry chat with guests from the areas of planning, construction and property.
This week we had a special planning episode in advance of the Urban Development Conference and guests in studio included planning and development experts Robert Colleran, property consultant, and Dr. William Hynes of Future Analytics Consulting.
Also, huge thanks to Eithne Dodd of The Sunday Business Post for the great coverage of the show in today’s edition.
Public Consultation and Community Engagement
Earlier this week I had the great privilege of chairing the Urban Development Conference 2019. There was a great line-up of speakers who all presented a range of ideas and proposed solutions to the challenges that population growth presents, in both urban and rural settings. The conference was a crossover of planning, property development and implementation of emerging technologies/smart city solutions. I intend to put together a summary of the points raised, both from the speakers and from the floor, and I will share the learning online.
- In her Sunday Times column today, Brenda Power writes that “Nimbies [NIMBYs] deserve the whole nine yards of our contempt for them”. She is referring to the locals residents and businesses in Ranelagh who vehemently opposed the MetroLink proposals. The columnist sums it up nicely by saying “Nimbyism isn’t only geographical, it’s ideological, and its most indignant practitioners defend their own back yards without a care for the grief and expense they dump on others. Just like disruptive roadworks and unlovely new estates, these inconveniences are always far more tolerable when visited on somebody else”.
- Businesses dispute council’s plans for Liffey Street Plaza https://www.irishtimes.com/news/environment/businesses-dispute-council-s-plans-for-liffey-street-plaza-1.3799387?mode=amp
- ‘Not now and not ever’: 1,000 new homes planned for west Dublin, which locals say brings a ‘high risk’ of flooding https://www.thejournal.ie/barnhill-dublin-houses-4493740-Feb2019/?amp=1
- The next big event to look forward to is the Women in Property and Construction Ireland (WPCI) ‘Dublin Rising’ on 7th March with Housing Minister Eoghan Murphy – full details here: http://www.constructionnetworkireland.com/events/wpci-present-dublin-rising/
*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
- According to an article in The Sunday Times, today, Louis Fitzgerald has reportedly made an approach to acquire Bruxelles from current owner, David Egan. Watch this space…
- In the same newspaper, Philip Connolly reports that Staycity has set up its own property development vehicle. The operator currently has more than 2,000 units and has plans to launch a further 5,000 over the next three years.
- Eithne Dunne has an interesting feature in the Money section on upgrading your home for maximum energy efficiency and cost efficiency – this is definitely worth a read if you are considering an upgrade.
- Ray Colyle, owner of Tayto Park has won approval for a 24 million euro/35-megawatt solar farm on 56.8 hectares that will be capable of hosting up to 127,250 solar panels.
- The lead story in the Sunday Independent today is ‘Property Revolution; this collection of analysis, reports and opinion pieces makes for a genuinely excellent industry read today. One of the themes is on downsizing and a range of measures is discussed, from incentivising older people, to planning for private, purpose-built accommodation suitable for the elderly. The information comes from a report, which has not yet been published, called ‘Housing for Older People’. In the same section, there is a long-form interview with John Moran, chair of the Land Development Agency.
- In the business section of the Independent today, Fearghal O’Connor reports that Kingspan 10 million euro global innovation hub is to create 100 high-end jobs.
- In the same section, John Reynolds reports that Laing O’Rourke plans to ‘cut down on competitive [low/fixed cost?] tendering and aim for higher gross profit margins of between 5ps and 10pc’.
- ‘Not-for-profit housebuilder Tuath [Housing] spent more than 161m euro providing new homes in Ireland last year’ according to an article in the Sunday Independent by Michael Cogley, quoting Tuath Housing chief executivbe Sean O’Conor. The AHB now has more than 4,400 homes under management across Ireland, which is made possible by working directly with local authorities nationwide, and plans to deliver a further 1,000 homes in 2019.
- The property development work of Tuath Housing is also featured in The Sunday Times today by property editor, Linda Daly, as the AHB looks set to redevelop Ellis Court in Dublin 7: https://www.thetimes.co.uk/article/its-time-to-up-the-ante-on-vacant-homes-schemes-qf2vgq9dt
- Also, in the construction space, Sisk director Pat Lucey warns that ‘building delays will undermine economy’, in an interview with Feargal O’Connor.
- New homes schemes in commuter counties https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/new-homes-schemes-in-commuter-counties-1.3774536?mode=amp
- Loan scheme for first-time buyers may be extended
- Review of local property tax nearing completion https://www.irishtimes.com/news/politics/review-of-local-property-tax-nearing-completion-1.3799562?mode=amp
- Almost half of all properties sold in 2018 bought with cash or savings https://www.thejournal.ie/45-of-all-properties-bought-with-cash-or-savings-in-2018-4498981-Feb2019/?amp=1
- What tax do I owe on a rental property I bought in 1987? https://www.irishtimes.com/business/personal-finance/what-tax-do-i-owe-on-a-rental-property-i-bought-in-1987-1.3792320?mode=amp
- Almost €700 million paid to private landlords in rent subsidies last year https://www.thejournal.ie/housing-private-payments-4507508-Feb2019/?amp=1
- Landlords concerned over proposed legislation https://www.rte.ie/news/politics/2019/0220/1031782-landlords-concerned-over-proposed-legislation/
- Clampdown on rural housing in new development plan https://www.irishexaminer.com/breakingnews/ireland/clampdown-on-rural-housing-in-new-development-plan-905102.html
- Gort selected as pilot town for enterprise development – Galway Bay FM https://galwaybayfm.ie/galway-bay-fm-news-desk/gort-selected-as-pilot-town-for-enterprise-development/amp/?__twitter_impression=true
- Vacant Victorian Dublin flats to be redeveloped for social housing https://www.irishtimes.com/news/social-affairs/vacant-victorian-dublin-flats-to-be-redeveloped-for-social-housing-1.3797224?mode=amp
- Wells Fargo backs Cherrywood development with €81m loan https://www.irishtimes.com/business/financial-services/wells-fargo-backs-cherrywood-development-with-81m-loan-1.3797005?mode=amp
- Planning board expecting big increase in housing applications https://www.irishtimes.com/news/ireland/irish-news/planning-board-expecting-big-increase-in-housing-applications-1.3800486?mode=amp
- Rent-only apartment schemes on the up but ownership declines https://www.irishtimes.com/business/commercial-property/rent-only-apartment-schemes-on-the-up-but-ownership-declines-1.3778903?mode=amp
- Dublin office market demand has ‘decoupled’ from wider economy https://amp.independent.ie/business/commercial-property/dublin-office-market-demand-has-decoupled-from-wider-economy-37833196.html
- Converted south docklands warehouse expected to be rented at €700 per sq m https://www.irishtimes.com/business/commercial-property/converted-south-docklands-warehouse-expected-to-be-rented-at-700-per-sq-m-1.3798963?mode=amp
- ‘Time is right’ to sell huge Limerick site with potential for major development https://www.limerickleader.ie/news/home/364616/time-is-right-to-sell-huge-limerick-site-with-potential-for-major-development.html
- Shannon Airport to submit plan for ‘vital major European hub connectivity’ https://www.limerickleader.ie/news/home/365326/shannon-airport-to-submit-plan-for-vital-major-european-hub-connectivity.html
- €10m Douglas seven acre site sale https://www.irishexaminer.com/breakingnews/property/10m-douglas-seven-acre-site-sale-905995.html
- Taoiseach ‘caused problem’ with comments on ‘low-balling’ by State contractors – minister https://m.independent.ie/irish-news/politics/taoiseach-caused-problem-with-comments-on-lowballing-by-state-contractors-minister-37823333.html
- Property developer who owed more than €1 million in unpaid taxes and penalties receives 240 hours community service https://www.thejournal.ie/property-developer-unpaid-tax-4500205-Feb2019/?amp=1
- Market report: US giant homes in on Savills as target https://www.telegraph.co.uk/business/2019/02/13/market-reportus-giant-homes-savills-target/amp/
Agile Agent – Digital Transformation for Independent Estate Agents
Q2 Programme updates here:
To get involved and for free Proptech Prompts, please
Proptech and Construction Innovation
- Are you an Irish-led or Ireland-based #proptech business? If so, please take five minutes to add or update your details to our internationally-shared listing here: SIGN UP: PROPTECH INNOVATORS and 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. Also, we are on a mission to get every Irish construction and property technology business registered on the global proptech database UNISSU. More details here:https://prop-tech.ie/global-proptech-data-platform-unissu-com-is-launched/
- What’s proptech going to be about in the next two years? | Property Forum https://www.property-forum.eu/news/whats-proptech-going-to-be-about-in-the-next-two-years/3677
- Delighted to see two proptechs in The Sunday Business Post/Enterprise Ireland 100 Hot Start-ups for 2019 (pictured above) – PLACEengage and Popertee!
- ‘Prop tech’ to play bigger role in property market this 2019 – Smart Property Investment https://www.smartpropertyinvestment.com.au/research/19206-proptech-to-play-bigger-role-in-property-market-this-2019
- Long way from Tipperary: how to build a €20bn firm https://m.independent.ie/business/technology/long-way-from-tipperary-how-to-build-a-20bn-firm-37836408.html
- Google keyboard enables Bitcoin symbol on iOS https://decryptmedia.com/5235/bitcoin-symbol-ios-google-keyboard
- Over €100M In Online Bids | co.ukhttps://estateagentnetworking.co.uk/over-e100m-in-online-bids/
- What The World’s Biggest PropTech Investors Want From Startups https://www.bisnow.com/london/news/technology/what-the-worlds-biggest-proptech-investors-want-from-startups-97610#ath
- PropTech Costs Are Down, Effectiveness Is Up And It’s Changing The Outlook For CRE https://www.bisnow.com/new-york/news/technology/proptech-tishman-speyer-brookfield-rudin-97603#ath
- Six more proptech start-ups put on Pi Labs’ fast-track • PrimeResi https://primeresi.com/six-more-proptech-start-ups-put-on-pi-labs-fast-track/
- OrangeTee transforming into ‘TechProp’ company, Real Estate – THE BUSINESS TIMES https://www.businesstimes.com.sg/real-estate/orangetee-transforming-into-techprop-company
- The future of real estate is in TechProp, Real Estate – THE BUSINESS TIMES https://www.businesstimes.com.sg/real-estate/the-future-of-real-estate-is-in-techprop
- New portal says it’s better than Rightmove and Zoopla … https://www.estateagenttoday.co.uk/breaking-news/2019/2/proptech-site-says-its-better-than-rightmove-and-zoopla-for-investors?source=newsticker
- Volatility And A Maturing PropTech Industy Underscore MetaProp 2018 Year-End Index https://www.forbes.com/sites/angelicakrystledonati/2019/02/20/volatility-and-a-maturing-proptech-industy-underscore-metaprop-2018-year-end-index/amp/?__twitter_impression=true
- Purplebricks ‘could now merge with high street business’, forecasts proptech expert – Property Industry Eye https://www.propertyindustryeye.com/purplebricks-could-now-merge-with-high-street-business-forecasts-proptech-expert/
- PlaceTech | PlaceTech partners with MIPIM PropTech https://placetech.net/news/placetech-partners-with-mipim-proptech/
- How To Use Data to Find Optimal Building Start Times | Propmodo https://www.propmodo.com/how-to-use-data-to-find-optimal-building-start-times/
- #StartupLife2: PropTech Startup Founders On How They Came Up With Their Idea https://www.forbes.com/sites/angelicakrystledonati/2019/02/16/startuplife2-proptech-startup-founders-on-how-they-came-up-with-their-idea/#7aa43f451724
- 5 Perspectives for Digital Transformation to Look for in 2019 : ‘Digital transformation can now mark the difference between success and failure ‘ https://www.globalrealestateexperts.com/2019/02/perspectives-digital-transformation-real-estate-2019/?utm_source=blog&utm_medium=linkedin&utm_campaign=digitaltransformation
- Billions of Dollars are Heading Toward ‘PropTech’ | Think Realty https://thinkrealty.com/billions-of-dollars-are-heading-toward-proptech/
- Proptech: the AI taking the rental world by storm | The Independent https://www.independent.co.uk/money/spend-save/proptech-ai-rental-home-ownership-flatshares-landlords-tenants-sharers-a8780316.html
- Digital Natives May Quit Cities, Prop-Tech Boss Warns https://www.built-environment-networking.com/digital-natives-quit-cities/
- Partnership will harness technology to solve affordable housing crisis | Real Estate Weekly https://rew-online.com/affordable-housing-proptech-meta-prop/
- Modernizing Real Estate: The Property Tech Opportunity https://www.forbes.com/sites/valleyvoices/2019/02/22/the-proptech-opportunity/#6cf3583e5826
- CRE Innovation Report: PropTech Changes And Market Trends https://www.commercialcafe.com/blog/altus-group-cre-innovation-report-proptech-changes-market-trends/
Crowd-sourcing: New Facebook Group for Irish Property Buyers & Investors
As many of you might know, my annual property book The Irish Property Buyers’ Handbook (since 2011) was rebranded 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.
For the first time, the 2019 edits will be crowd-sourced and will include 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/