Good morning everyone, I hope the sun is shining wherever you are (Windmill Quarter in Dublin 2 is looking pretty good this morning!). It’s been a busy week but a great one for placemaking and proptech, with Fingal County Council launching the ‘Our Balbriggan’ masterplan (best public consultation process I have seen in Ireland, I will write up the details later in the week), the ARVR Innovate 2019 conference and expo taking place in the RDS and the Smart Docklands team launched their 3D Dublin Data Hack – this is still ongoing, in fact, I am heading there shortly so I will write up all the fun details later!
If you missed last week’s round-up, you can catch up here: https://propertydistrict.ie/category/sunday-property-review/
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…
- Cabinet signs off on the €3 billion broadband plan – here’s what we know so far https://www.thejournal.ie/national-broadband-plan-8-4622279-May2019/?amp=1
- The future of housing looks nothing like today’s https://www.fastcompany.com/90342219/the-future-of-housing-looks-nothing-like-todays
- Negotiating the minefield of purchasing international property – BizNews.com https://www.biznews.com/sponsored/2019/05/06/negotiating-purchasing-international-property/amp
- Tiny Italian town in Sicily is selling homes for just 85p https://www.thesun.ie/travel/4064487/italian-town-in-sicily-is-selling-homes-for-just-85p-but-theres-a-catch/amp/
- Designing a better future using modular techniques:
Mark Farmer, founding director of Cast Consultancy and author of the landmark Modernise or Die review, looks at the rise of modular construction and examines whether the sector is really ready for take-off
- Work gets under way to create new Danish island https://www.theconstructionindex.co.uk/news/view/work-gets-under-way-to-create-new-danish-island
- How art is transforming property developments https://www.afr.com/lifestyle/how-art-is-transforming-property-developments-20190410-p51cy4
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!)
#PropertyMatters 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 (@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, property and proptech. Produced by Katie Tallon of Hear Me Roar Media.
This week, we were joined in studio by Sean Corbett of Mortgage123.ie and Guillaume Pellerin, CEO of Zoobox Ireland. Joining us by phone from New York was Aaron Block, co-author of ‘Proptech 101: Turning chaos into cash through real estate innovation’.
Listen back to this episode here: https://anchor.fm/ipropertyradio/episodes/Property-Matters–May-7th-2019-e3vhvg
Next Tuesday is all about the data centre sector so be sure to listen in.
Email the Property Matters team at hello@iPropertyRadio.com
Public Consultation and Community Engagement
- Are residents being squeezed out of the City? Carol Tallon Property District and Author of the Irish Property Buyers’ Handbook joined Ciara Kelly on Lunchtime live to discuss
- Rush for build-to-rent as plans for more than 6,000 properties are tabled in just five days:
Plans have been lodged for more than 6,000 residential properties in the space of five days – many of which will never go on sale to families.
- Artists say they’re losing their studios and spaces as commercial development surges in Dublin https://www.thejournal.ie/artist-studios-creative-spaces-dublin-ireland-culture-4615268-May2019/?amp=1
- This is a long read but there’s a lot proptech startups and urban planners can learn from this: The origins and perils of development in the urban tech landscape https://archpaper.com/2019/05/urban-tech-landscape/
- Why Pat Kenny won’t be giving up his ‘damn’ property battle any time soon https://extra.ie/2019/05/10/entertainment/entertainment-news/pat-kenny-court/amp
*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
- Both the Sunday Independent and The Sunday Business Post carry interior design features/special publications today – both look great.
- In the Sunday Independent business section, Fearghal O’Connor reports that Dublin needs 2,000 more hotel rooms – in addition to the 4,000 currently under construction.
- On page 18 of The Irish Times today, there is a featured by Valerie Flynn titled ‘Welcome to bedsitland 2.0:Hundreds of shared living spaces, each smaller that a disabled parking bay, are in the pipeline for Dublin. How will this affect the market?’ This refers almost exclusively to Bartra Capital’s plan for 777 units across four developments in Dublin. The usual commentators object (they make some valid points), people who have lived in similar offering in the UK hail the benefits. Simply put, if this emerging sector is purporting to replace the previously removed ‘bottom rung of the property ladder’, then affordability is going to need a recheck…
- Niall Brady reports on the confirmed acquisition of Investec by Brewin Dolphin (mentioned here over the last month).
- Downsizing appears to be a favourite amongst feature writers this month, with Eithne Dunne publishing the latest one in the Money section today.
- One of the lead news stories in The Sunday Business Post today is by Killian Woods, who reports that Reddit chief executive has become the latest business leader to speak out about the lack of affordable housing in Dublin and the risk it poses to the expansion of the business. Unfortunately, no real solutions proposed.
- The same journalists reports that the US company proposing a floating data centre in the Limerick Docks (as noted here last week) is also planning to moor several barges along the Shannon estuary.
- The SBP also reports that Airbnb hosts will be able to apply for Failte Ireland certification as a way around the incoming restrictions on the short term lets.
- Also in the SBP: Cork City Council is apparently “more amenable to high-rise” (which certainly tallies with our experience!) and Gem Construction has been given the go-ahead for 913 homes in Dunshaughin.
- Innovative Irish proptech, Property Bridges (David Jelly) is featured in the SBP discussing crowdfunding for property developers.
- First-time buyer Haven for couples where one partner has already had a mortgage https://www.irishtimes.com/business/personal-finance/first-time-buyer-haven-for-couples-where-one-partner-has-already-had-a-mortgage-1.3879977?mode=amp
- Campaign for more affordable and social housing launched https://amp.breakingnews.ie/ireland/campaign-for-more-affordable-and-social-housing-launched-922677.html
- Dublin co-living apartment building would see 42 share a kitchen https://amp.breakingnews.ie/ireland/dublin-co-living-apartment-building-would-see-42-share-a-kitchen-922939.html
- Philip O’Sullivan: ‘Unfortunately, there is no magic bullet for housing supply’ https://m.independent.ie/business/personal-finance/property-mortgages/philip-osullivan-unfortunately-there-is-no-magic-bullet-for-housing-supply-38092986.html
- ‘Radical’ steps taken against housing crisis, says Eoghan Murphy https://www.irishtimes.com/news/social-affairs/radical-steps-taken-against-housing-crisis-says-eoghan-murphy-1.3888055?mode=amp
- €26 billion invested in construction industry last year https://www.rte.ie/amp/1048341/
- O’Flynn gets permission for €80m housing scheme in Celbridge https://www.irishtimes.com/business/commercial-property/o-flynn-gets-permission-for-80m-housing-scheme-in-celbridge-1.3882686?mode=amp
- Commuters priced out of capital excluded from Dublin housing scheme https://www.irishtimes.com/news/social-affairs/commuters-priced-out-of-capital-excluded-from-dublin-housing-scheme-1.3882743?mode=amp
- Cuckoo funds make more in Dublin than Los Angeles https://amp.independent.ie/irish-news/cuckoo-funds-make-more-in-dublin-than-los-angeles-38086501.html
- Cork’s largest student apartment development is granted planning permission https://www.echolive.ie/corknews/Corks-largest-student-apartment-development-is-granted-planning-permission-ce8f13dd-2434-46f1-8e71-c6a01e888469-ds
- Family comes first for construction workers returning to Ireland https://amp.irishexaminer.com/breakingnews/ireland/family-comes-first-for-construction-workers-returning-to-ireland-922483.html
- Hotel development reaches post-crash high, report shows https://www.irishtimes.com/business/transport-and-tourism/hotel-development-reaches-post-crash-high-report-shows-1.3882521?mode=amp
- Dún Laoghaire Council turns down Hollywood studio plan for old terminal https://www.irishtimes.com/news/ireland/irish-news/d%C3%BAn-laoghaire-council-turns-down-hollywood-studio-plan-for-old-terminal-1.3882584?mode=amp
- Construction workers rate Mace to be the best of the bunch https://www.theconstructionindex.co.uk/news/view/construction-workers-rate-mace-the-best-of-the-bunch
- US architect testifies Sean Dunne made all major construction decisions https://www.irishtimes.com/business/commercial-property/us-architect-testifies-sean-dunne-made-all-major-construction-decisions-1.3885554?mode=amp
- Finance Ireland taps market for €220m https://amp.independent.ie/business/irish/finance-ireland-taps-market-for-220m-38096779.html
- Construction workers set to get 5pc pay rise within two years https://amp.independent.ie/business/irish/construction-workers-set-to-get-5pc-pay-rise-within-two-years-38098700.html
- And, while not strictly property-related: Stockbroker fined €280,000 for money laundering breaches https://amp.independent.ie/business/personal-finance/latest-news/stockbroker-fined-280000-for-money-laundering-breaches-38099992.html
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.
Q3. March – May 2019 Agile Agent check-in now available below:
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/
- Great news for the sector: Here Are Six Groundbreaking Female Founded PropTech Startups https://www.forbes.com/sites/angelicakrystledonati/2019/05/10/here-are-some-some-groundbreaking-female-founded-proptech-startups/amp/
- How to build innovation into the construction industry blueprint https://www.irishtimes.com/sponsored/how-to-build-innovation-into-the-construction-industry-blueprint-1.3881712?mode=amp
- VTS raises $90M to join the ranks of unicorns https://therealdeal.com/2019/05/07/vts-raises-90m-to-join-the-ranks-of-unicorns/amp/
- Microsoft’s HoloLens 2 has become the AR industry’s dullest thud https://venturebeat.com/2019/05/06/microsofts-hololens-2-has-become-the-ar-industrys-dullest-thud/amp/
- Purplebricks shares fall as founder leaves https://www.bbc.co.uk/news/business-48184376
- Purplebricks Australia: There is “definitely consumer demand” for a fixed-fee model and “definitely inefficiencies in the current real estate environment”. “In no way do I think (Purplebricks’ failure) undermines the flat-fee model,”
- Four Smart Buildings Startups To Look Out For https://www.forbes.com/sites/angelicakrystledonati/2019/05/05/four-smart-buildings-startups-to-look-out-for/amp/
- All about Ant Financial—Jack Ma’s other $150 billion company https://qz.com/1590248/all-about-ant-financial-chinas-150-billion-fintech-giant/amp/
- 20VC: Why Consumer Brands Must Embrace Physical Retail To Avoid Inflated Online CACs, How To Alter Fund Strategy When Investing In Consumer Retail & Why The Era of The 1,000 Store Brand Is Over with Brendan Wallace, Founder and Managing Partner @ Fifth Wall – The Twenty Minute VC http://www.thetwentyminutevc.com/brendanwallace2/
- Google is adding augmented reality to search https://www.theverge.com/platform/amp/2019/5/7/18528209/google-lens-ar-search-augmented-reality-camera-adroid-assistant-photos-app-io-2019
- Laws capping building emissions could be gold for proptech https://www.crainsnewyork.com/features/laws-capping-building-emissions-could-be-gold-proptech
- Apple CEO Tim Cook touts enterprise augmented reality as Apple, SAP further integrate | ZDNet https://www.zdnet.com/google-amp/article/apple-ceo-tim-cook-touts-enterprise-augmented-reality-as-apple-sap-further-integrate/
- More than 7,000 Robots Will Work in Construction by 2025, Report Says https://www.roboticsbusinessreview.com/construction/more-than-7000-robots-will-work-in-construction-by-2025-report-says/
- What Global Banks Look For to Invest in PropTech | GlobeSt https://www.globest.com/2019/05/06/what-global-banks-look-for-to-invest-in-proptech/?amp=1
- What’s new in AR / VR at Google I/O 2019 https://www.androidcentral.com/whats-new-ar-vr-google-io-2019?amp
- Seeking an Edge, Developers and Investors Turn to ‘Proptech’ – The New York Times https://www.nytimes.com/2019/05/07/business/proptech-real-estate-technology.html#click=https://t.co/ZOZaf5QzWS
- PropTech Today: Market transformation – deterring, championing and Purplebricks https://www.estateagenttoday.co.uk/breaking-news/2019/5/proptech-today-market-transformation–deterring-championing-and-purplebricks
- Cemex extends deadline for bids for innovation funding https://www.theconstructionindex.co.uk/news/view/cemex-extends-deadline-for-bids-for-innovation-funding
- Construction to kick off on world’s first 3D-printed neighborhood https://newatlas.com/3d-printed-neighborhood-construction/59629/
- WeWork’s starry valuation dazzles landlords, reaffirms doubters https://uk.mobile.reuters.com/article/amp/idUKKCN1SG1VD
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/