schmittel wrote: » On tech MNCs and property.... I think the reason these companies are important to the country is more the corporate tax tax take rather than the jobs. Sure they are paying less than they should relative to their profits but at least they are paying us. Of course the jobs they provide are important, no doubt some are very high paying. And sure if they're operating in the rental market with big salaries they are having effect on price. But they are constantly referenced in this thread with greater weight than they deserve. Something like 90% of all private sector, non finance jobs, are provided by Irish SMEs - these are far more important in moving the property market needle than Google, Facebook., Twitter et al. If a recession sweeps through the Irish SME sector it will have a much bigger impact on property than the tech MNCs cutting jobs. And every time WFH comes up for discussion, it is all about Google or Facebook - I actually don't think the impact here will be that great either. But if your average indigenous Irish widget makers start to embrace WFH the impact will be dramatic. I also think these companies are more likely than the tech crowd to go all in WFH where possible.
Hubertj wrote: » i agree with most of what you say but i think WFH is less suited to many SMEs. Obviously it will differ from sector to sector but the nature of what many SMEs do requires collaboration in person. If i walk up Baggot St you can see a lot of SMEs are back in the office while the big buildings, LinkedIN, Takeda etc, are closed.
schmittel wrote: » Aside from obviously the retail/food etc what sort of SMEs do you mean?
Hubertj wrote: » legal, tech start ups where long periods of collaboration is large part of creative process.. When you're trying to build a company and create an identity face to face interaction is required, you cant create that on zoom. What i'm saying is that i don't think there will be a big shift to wfh for SMEs, it will be about flexibility. Maybe i'll be wrong.
pearcider wrote: » It would be great if we could have impartial moderation in here, just once, instead of blatant attempts to censor posters who dare to “talk down the market”. Clearly a deterioration of the job market is going to have an impact on the property market. You can only ignore the writing on the wall for so long.
The Belly wrote: » Bring back Bertie with the make up
MacronvFrugals wrote: » With or without telling Morgan Kelly to commit suicide?
Hubertj wrote: » If i walk up Baggot St you can see a lot of SMEs are back in the office
The Belly wrote: » well if you dont agree that what was advised.
The Belly wrote: » Donohoe calls for ‘unprecedented European solutions’ to Covid crisis Eurogroup president wants return to budgetary and fiscal normality
MacronvFrugals wrote: » Its always been the biggest issue with the EU, no automatic stabilizers like the US has and leads to countries bickering while others burn.
MacronvFrugals wrote: » Its always been the biggest issue with the EU, no automatic stabilizers like the US has and leads to countries bickering while others burn. If the ECB calls for anything even resembling austerity in the likes of Italy and Spain we may aswell roll out the carpet for fascists
schmittel wrote: » The other point worth considering is lease terms. We may see an incremental shift over the years as these types of businesses consider whether or not to renew their leases. i.e they're back in the office in Baggot St now, but if their lease is up for renewal at end of March 2021, will they be back in the office in April 2021?
Assetbacked wrote: » If we see a return to austerity in the EU, consider Brexit a legitimate course of action for other countries, including Ireland.
Hubertj wrote: » True, or they can renew the lease for 30% less? Some believe there will be tumbleweed blowing through town so landlords who can might have to swallow it? Or the likes of WeWork could benefit if the price point is right. I believe it is expensive albeit flexible?
jgt3 wrote: » Okay so do I buy a house or not?
schmittel wrote: » Definitely one solution is landlords dropping the price, then no doubt there will be less of a shift to WFH. If I owned a Georgian on Baggot St, and tenants didn't renew, I'd try shifting to serviced offices/meeting rooms/call answering/business address etc. Which I guess is good for the likes of WeWork. I could see an Airbnb for offices booking platform type of business doing well. We could see the likes of Baggot St transformed - get rid of the dreary solicitors and accountants, fill it up full of young energetic start ups!
PropQueries wrote: » Sorry to burst the bubble the media has being feeding everyone for the past 6 years but there is little to no 'start-up' culture in Ireland. London and Berlin are the IT start-up cities in Europe and my understanding is that Latvia is the FinTech start-up capital of Europe. Helping people set up advertising accounts at Google and Facebook and managing bookings at AirBnB hasn't provided the necessary skills for any such start-up culture to take place in Ireland. There's exceptions of course, but they're very very few. I'm open to correction of course. Attack at will
schmittel wrote: » I agree. Just trying to think positively for the future of Baggot st. what i think is more likely to happen is landlords won’t drop rents, tenants won’T renew leases and Baggot St will be full of tumbleweed.
PropQueries wrote: » I haven't researched it, but I think it would be interesting to find out how Latvia became the FinTech start-up capital of Europe. Eastern europe is increasingly following our lead in attracting multinationals. Maybe it's about time we started copying some of their ideas?
awec wrote: » There are loads of startups in Ireland. It is one of the best countries in the world to start a business. I think Forbes did some analysis a few years ago and Ireland was in the top 10. I can't remember what the exact position was but I remember we were ahead of the US. I think a lot of our more successful start ups end up being acquired before they become high profile. That said, "startup" is such a vague term. You have 10 year old companies with hundreds of employees calling themselves "startups" because it's cool and hip.
PropQueries wrote: » Just thinking. You make an excellent point. If rents drop, that would definitely encourage a start-up culture to take place. Only problem once it takes off is if the landlords start increasing the rent and we're back to square one. Your point stands though.
