The broadsheets are relatively light on industry news and coverage today, in fact, most of the coverage today was already dealt with earlier in the week and you will find links to same below. If you missed last week’s Sunday Property Round-Up, which was packed with industry and proptech news, you can catch up here: https://propertydistrict.ie/sunday-property-round-up-october-28th-2018/
Before we start, I want to draw your attention to a few of the more interesting stories this week, as follows:
- In addition to discounted attendance prices for proptech innovators, Proptech Ireland has two tickets to give away for the CitA Tech Live event in Croke Park on 8th & 9th November: This is shaping up to be a great event and is recommended for those focused on digitisation of the planning and construction industries in particular. If you are innovating digital products for the construction industry, let us know by emailing firstname.lastname@example.org – most innovative offering wins the two tickets!
- I have written previously about David Jelly and his team at PropertyBridges, the first Irish crowdfunding platform for property developers and home-builders. Their first project for funding went live earlier this week and, already, there is €55,000 committed, with a further €40,000 of funds deposited that should clear by Monday – this is a great start and shows a clear appetite for alternative investment in Irish property. Further details here: https://www.propertybridges.com/
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!)
There is a great feature on Ballymore’s Embassy Gardens development in London in the property section of The Sunday Times today. Sean Mulryan’s brand is at the forefront for community engagement, which is an increasingly important issue for property developers when it comes to taking back their reputations after a decade of turmoil and chaos. Public consultation, particularly pre-planning, and community engagement will be one of the key differentiators for top notch homebuilders going forward. If placemaking is something that has caught your attention, head over to PLACEengage to read about the Irish start-up set to transform property development globally and stamp out NIMBY-ism!
Property Developers using AR/VR to for public consultation and to engage communities
Agile Agent: 12-month digital transformation programme for independent estate agents and auctioneers across Ireland
Getting Ireland’s property marketplace digital by default
We were delighted to have Dr. David Duffy of Property Industry Ireland present to our Agile Agents and a number of invited agents this week. In addition to industry insights, we had demos from a selection of proptech providers offering emerging technologies for estate agents focused on digitising business operations, putting the consumer first and marketing for properties in the digital age. Also, huge thanks to Samantha McCaughren, business editor of the Sunday Independent for delivering a master class for proptech startups on crafting their business message.
As we could only take one estate agency from each geographical area (in order to avoid any competitive conflict), we are sharing free monthly ‘Proptech Prompts’ for non-participating agents so that they can participate with their own in-house digital transformation (sign up below).
To get involved and for free monthly Proptech Prompts, please
Other Property News
- In the Sunday Independent today, Miriam O’Callaghan (features writer) writes about the impact ‘No Pet’ causes are having on tenants, which is leading to an increasing number of people surrendering their dogs to animal sanctuaries. This is something that I feel quite strongly about, having lived in France and Spain, where pets are welcome in apartment blocks. When speaking to tenants about this issue, there appears to be two different problems; firstly, some management companies ban pets outright, which means individual landlords have no power to accommodate pets for the tenants. Secondly, where there is no outright ban by the management company, generally estate agents or letting agents will insert a ban as standard on all rental properties. So, the advice for tenants is to check is this a ban by the block, by the landlord directly, or by a standard letting agency clause. In my experience, landlords are quite reasonable if you can show that you are a long-term and responsible pet owner. [Of course, anyone who has worked with Property District has likely already met Daisy and/or Rico, who are by my side right now, patiently waiting for me to finish up this property lark so that we can hit the lakes or hills!]
- Ronald Quinlan, commercial property editor of the Sunday Independent today reports that developer Pat Crean, through his Marlet Property Group, has hit out at Labour Party senator Aodhan O’Riordain over his involvement in local opposition to the developer’s plans to deliver 164 new homes in Howth. This is just the latest in a string of demonstrative NIMBYism by individual government officials.
- David Robbins has an interesting lead story in the property section of the Independent today. He features a new residential development in County Westmeath, and particularly, the architecturally-designed versatile spaces that ensure the home is future-proofed for every stage in life. This includes a downstairs bedroom, with accessible bathroom and a separate suite upstairs that is suitable for a carer or live-in relative. It is great to see the emergence of designed that just makes sense.
- It was interesting, though perhaps not surprising, to read in The Sunday Times today that former Bank of Ireland chief exec Richie Boucher has joined the board of Kennedy Wilson…
- Glenveagh Properties has sought planning permission for more than 250 homes on their site at Hollystown golf club in North Dublin.
- It must be difficult for Johnny Ronan not to take An Bord Pleanala decisions personally at this stage. Plans for a 141-bed hotel and cycling centre of excellence near Enniskerry in County Wicklow has been rejected by ABP.
- One of the lead stories in The Sunday Business Post today, by Ian Guider and Jack Horgan-Jones, reports that banks are getting a major push to sell more than 1,000 empty homes for social housing.
- The Irish Times view on the future of Dublin: rethinking the capital: https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-the-future-of-dublin-rethinking-the-capital-1.3684420?mode=amp
- What do landlords make of this? Definite conflict here: “When an estate agent makes suitable properties exclusively available to homeless families, which includes not advertising them on letting websites and not holding open viewings, then when the agent has given five properties, the DRHE will pay the agent €500 per property plus VAT following the submission of a proper invoice.”
€500 ‘placement fee’ for letting to homeless families https://www.rte.ie/news/2018/1101/1007930-rent-landlords/
- Murphy defends fee for agents who let to homeless https://amp.independent.ie/irish-news/murphy-defends-fee-for-agents-who-let-to-homeless-37484448.html
- Mortgage lending here at about 1988 levels https://www.rte.ie/amp/1008192/
- There is an inside track piece about the collapse of the Dùn Laoghaire Harbour Innovation Campus, the €20 million project that fell apart last month
- Ròisìn Burke features Denise and Ann Cannon, together with their brother Charles who are taking over the family business from father Cathal (of Cannon Kirk) as they focus on Ireland after recent successes in Germany.
- Mortgage rates to stay low as the eurozone flounders https://amp.independent.ie/business/brexit/mortgage-rates-to-stay-low-as-the-eurozone-flounders-37477298.html
- Drawdowns are the most reliable indicator of the marketplace: Mortgage drawdowns up but approvals ‘flatlining’ https://www.irishtimes.com/business/personal-finance/mortgage-drawdowns-up-but-approvals-flatlining-1.3680920?mode=amp
- Switching mortgage? You may have to repay broker’s commissionhttps://www.irishtimes.com/business/personal-finance/switching-mortgage-you-may-have-to-repay-broker-s-commission-1.3680851?mode=amp
- Kevin Doyle: ‘When it comes to housing, nothing adds up’ https://m.independent.ie/irish-news/kevin-doyle-when-it-comes-to-housing-nothing-adds-up-37480770.html
- It’s like a maze. You don’t know if you’ll find your way out’: Planning delays hitting rural Ireland house building https://www.thejournal.ie/planning-limbo-an-bord-pleanala-4300618-Oct2018/?utm_source=shortlink
- End-of-year targets for building social housing ‘unlikely’ to be reachedhttps://www.irishtimes.com/news/social-affairs/end-of-year-targets-for-building-social-housing-unlikely-to-be-reached-1.3679906?mode=amp
- Cost of Dublin luxury homes falls for first time since recovery https://www.irishtimes.com/business/cost-of-dublin-luxury-homes-falls-for-first-time-since-recovery-1.3680682?mode=amp
- Housing charity defends moving senior citizens out of homes and replacing them with students https://amp.breakingnews.ie/ireland/housing-charity-defends-moving-senior-citizens-out-of-homes-and-replacing-them-with-students-882115.html
- Dublin 8 to challenge Docklands dominance https://amp.independent.ie/business/commercial-property/dublin-8-to-challenge-docklands-dominance-37479342.html
- Big changes on O’Connell Street: property portfolio guiding €13m https://www.irishtimes.com/business/commercial-property/big-changes-on-o-connell-street-property-portfolio-guiding-13m-1.3678598?mode=amp
- Mica scandal: Family living in ‘falling down house’ finds out mortgage has been sold to vulture fund https://www.thejournal.ie/mica-vulture-fund-4305211-Oct2018/?amp=1
- Kennedy Wilson and AXA IM – Real Assets Complete €161 Million PRS Acquisition in Ireland https://www.businesswire.com/news/home/20181029005059/en/Kennedy-Wilson-AXA-IM—Real-Assets
- And a follow up to that story:
Hundreds of dwellings to come on market in south Dublin https://www.irishtimes.com/business/construction/hundreds-of-dwellings-to-come-on-market-in-south-dublin-1.3679511?mode=amp
- More than 23 developers still getting six-figure sums from Nama – a €2.3m annual billhttps://www.independent.ie/irish-news/more-than-23-developers-still-getting-sixfigure-sums-from-nama-a-2-3m-annual-bill-37487368.html
- The 8 Ingredients For A Perfect Build To Rent Recipe https://www.forbes.com/sites/angelicakrystledonati/2018/10/30/the-8-ingredients-for-a-perfect-build-to-rent-recipe/amp/
- Sandyford site for 459 apartments guiding €36m https://www.irishtimes.com/business/commercial-property/sandyford-site-for-459-apartments-guiding-36m-1.3676927?mode=amp
- Contract signed for €300m Waterford city Saudi development https://www.irishtimes.com/news/environment/contract-signed-for-300m-waterford-city-saudi-development-1.3684619
- Communities urged to ‘embrace new social housing’ https://amp.irishexaminer.com/breakingnews/ireland/communities-urged-to-embrace-new-social-housing-882400.html
- Private developers should not be relied on for affordable housing, forum told https://www.irishtimes.com/news/social-affairs/private-developers-should-not-be-relied-on-for-affordable-housing-forum-told-1.3683227?mode=amp
- Capital ideas for Dublin, No 5: Make public housing beautiful https://www.irishtimes.com/culture/art-and-design/capital-ideas-for-dublin-no-5-make-public-housing-beautiful-1.3682082?mode=amp
- Important Update for Home Sharers across Ireland | Airbnb Citizenhttps://www.airbnbcitizen.com/important-update-for-home-sharers-across-ireland/
- Another delay for Metrolink as public consultation results pushed backhttps://www.thejournal.ie/metrolink-public-consultation-delays-4313978-Oct2018/
- Ireland buys 2232 Massachusetts Ave. NW for $4.25 million – Washington Business Journal https://www.bizjournals.com/washington/news/2018/11/01/ireland-expands-embassy-row-presence-with.amp.html
- As estate agents look to innovate their business models in order to get their businesses future-ready, this is a good example of an unintended consequence from CBRE: Coworking companies rebuke CBRE for entering their turf https://www.crainsnewyork.com/real-estate/coworking-companies-rebuke-cbre-entering-their-turf
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: http://prop-tech.ie/proptech-innovators-ireland/ 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, the national resource website for innovators, investors and mentors or email firstname.lastname@example.org .
- This is one of the best #VC articles I’ve read in a long time and might be of interest to #proptech innovators and investors:
- A Genuine Apology to the Founders I’ve Met in my First Year as an Investorhttps://hackernoon.com/a-genuine-apology-to-the-founders-ive-met-in-my-first-year-as-an-investor-a1a0c8ea0695
- Tips from a VC: 6 Simple Mistakes Founders Make When Pitching Investors – StartUp Mindset https://startupmindset.com/tips-from-a-vc-6-simple-mistakes-founders-make-when-pitching-investors/
- Well done! How BidX1 changed the way property is bought and sold https://www.irishtimes.com/business/innovation/how-bidx1-changed-the-way-property-is-bought-and-sold-1.3680753?mode=amp
- Overfunding: Prop-Tech Investment Platform Brickowner Surpasses £150,000 Funding Target on Seedrs | Crowdfund Insider https://www.crowdfundinsider.com/2018/11/140853-overfunding-prop-tech-investment-platform-brickowner-surpasses-150000-funding-target-on-seedrs/
- Technology Will Provide The Edge To Make Urban Real Estate Scalable https://www.forbes.com/sites/forbestechcouncil/2018/11/01/technology-will-provide-the-edge-to-make-urban-real-estate-scalable/#bdaadf6c3aa6
- EYE newsflash: Emoov ‘up for sale’ just months after taking over Tepilo – with Foxtons rumoured as possible buyer https://www.propertyindustryeye.com/eye-newsflash-emoov-up-for-sale-just-months-after-taking-over-tepilo-with-foxtons-rumoured-as-possible-buyer/
- Further: Emoov admits situation ‘precarious’ and puts itself on market https://www.ft.com/content/537d96e0-deb2-11e8-9f04-38d397e6661c
- PlaceTech | Non-profit PropTech House strives to unite European markethttps://placetech.net/news/non-profit-proptech-house-strives-to-unite-european-market/amp/
- Icon raises $9 million to fight homelessness with 3D-printed homes built in 24 hours – #CRETECH
- Why technology won’t replace real estate agents #proptech
- One-year-old Ribbon raises $225M to remove the biggest stress of home buying https://techcrunch.com/2018/10/25/ribbon-series-a/amp/
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) 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.
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/