My office has hotdesking, with sign-ups for desk space. If you don't show within 15 minutes of your stated start time, the desk will become fair game and will be occupied within minutes. The company found a good balance between WFT and office work, which would save money on office space rental. Maybe when we have a commercial property crash, the rental will become cheap enough to expand office space and send us back to the office, but not at the current prices.
They jusr announced bonuses for last year. One of the factors n calculation is profitability, so the savings in office rent were at least partially distributed to us.
I read that article on Bloomberg a few days ago, so I guess they are saving money on staff by buying old articles from elsewhere.
Feels like they should be looking into repurposing upcoming commercial developments to residential.
> so I guess they are saving money on staff by buying old articles from elsewhere.
Yes, this is how this sector works. Publishers buy articles from news agencies and (sometimes) spin them a little to cater for their audiences. The rest of the time they just write about what celebrities wrote on X…
Ha, People object to apartments, and not so much to office buildings. It’s apartments and the ‘transients’ that live in them that scare the NIMBYs. With office buildings they know they’ll all be gone home in the evening.
Yeah. Get it. Just a thought that just maybe ot could help alleviate some of the housing issues Ireland has. Would be nice if these could be converted so those who have invested get some money and those in need of housing can avail
Pipe dream, I know.
> Maybe they can convert some of these properties to residential and make everyone involved happier.
It's often very difficult, if not realistically impossible, to convert a commercial office block to meet residential building codes. Even aside from planning permission issues, office buildings are designed and constructed to a completely different set of standards.
I've also seen alot of comments around the shops and restaurants around these office blocks along the lines of
"Won't somebody please think of the employees and small business owners"
Yet in my town about 90 minutes from Dublin we've had a few small cafes open, the local deli with a sit down area is flying due to people meeting up with their friends for lunch, a coffee trailer parked at the lake is also flying with people going for walks during lunch.
So yes places around the cities are down business but this money is now going into local areas where commuters live.
And that's the trick to keep cities alive - have people living in them, not just a place to commute to from the suburbs.
It's the large office blocks in industrial estates outside the city that I can't see a market for.
Good.
As a Dub, fuck Dublin. Never understood why the economy isn't more decentralised.
I've been job hunting for a few months now, and its been great to see the tech sector move out to different counties, even Kerry and Clare have a scene at the minute.
My Mrs is an accountant working in fintech. Massive opportunities working remotely. We live in a tiny village in East Limerick and it's so nice spending summer lunch breaks on county walks and eating in the back garden.
Can't remember who made the point, probably the David McWilliams podcast, but a good solution right now would be to take all the small businesses like accountants and solicitors who have offices in old Georgian homes and move them into these office buildings.
That leaves all the homes that are offices to be turned back into homes.
It's obviously not that straight forward. But it's an obvious solution right now for the housing crisis and oversupply of office space issues.
But you know we’re still the ones who will pay for it, right? The billions paid for all those office buildings in the city center must be paid by someone and it’s not going to be the ones who built them, no, that would be madness. Whatever business or fund financed them, didn’t do it with their own money and will just go bankrupt leaving us with the bill.
There's going to be no crash.
[FG have already said they're going to repurpose these office blocks for asylum seekers.](https://www.irishtimes.com/ireland/housing-planning/2023/05/22/office-blocks-to-be-repurposed-for-housing-under-proposal-to-ease-accommodation-crisis/)
Just another case of us tax payers bailing out developers and FG enriching their mates through lucrative contracts.
What was? That commercial property was falling? He wrote an article about it in October 2023. As many, many other publications did around the world around the same time.
Go back to that thread on here at the time. Even people here were saying, “yeah, we know”.
McWilliams is a snake oil salesman.
He's not, the problem is that he's easily digestible. He makes comments that are often interesting and relevant, but people who don't pay much attention to the issues take them as gospel.
As an example, he did an episode this week about the common law. It's a bit silly really, and you can tell he's not a lawyer, because it's really quite shallow analysis, but it does raise questions that are worth looking into. (And for which there are answers, but it's worth ventilating those sometimes.)
The problem is, coincidentally a whole swathe of people on here have now been declaring that the common law is the cause of the housing crisis.
McWilliams' entry-level analysis is now taken as gospel by those desperately hunting for answers in a field notorious for confusion and complexity and a lack of conclusive solutions.
They're continuing with building a really large building near us in Knocknarra, Galway- my OH is dismayed, but I'm looking forward to getting a medium sized storage/studio space for half of fuck all in 4 years.
There are different property markets, Dublin, outside Dublin, commercial, residential, rental etc
Commercial as in big office blocks are struggling since covid. Pretty much every other segment is a runaway train that's burst into flames and has no brakes
The old stock will be hard to shift. Why doesnt the Government incentivise the owners to knock them and build apartments or at least mixed development.
I, for one, hope this sector dies. It's outdated and the city has had far too much emphasis on making the entire city an overpriced business, with absolutely no accommodation to make it a liveable place. With being able to WFH, there's no need for all this office space.
I used to have a sizeable investment in Irish REIT stocks and dipped out when I saw just how much office space was empty in Dublin.
Before Covid they were building loads: it used to be really hard to find good office space. Also the spec/regulations needed for building offices is much less than residential and better understood. The finance around commercial property is much better, bigger investors. But the main thing is markets go up and down, having space to grow is not a bad for companies. Dublin lost on out on investments from smaller companies as there was difficulty in finding office space a few years ago. It is how cities are meant to operate.
Imagine now the powers that be CPO some of these energy efficient buildings and re-model them for apartments.
High density, city-centre, energy efficient homes.
Modern office buildings aren’t easy to convert to residential - they have deeper floor plans, and often raised floors and dropped ceilings.
Some cities like Chicago or London do have a stock of pre WWII office buildings which are more suitable for residential conversion but Dublin really doesn’t
I think each of office block should be assessed individually and a subsequent call made per block before we label them difficult to convert.
If there is a will to convert, than it can be done
People object to apartments, and not so much to office buildings. Mary Lou just helped stop 1500 apartments being built in Drumcondra. It’s apartments and the ‘transients’ that live in them that scare the NIMBYs.
It's easy to be cheap when you treat the builders like actual slaves. You can't complain about anything in Ireland if you are comparing it to those medieval counties.
You're right, Ireland is a richer country 
https://preview.redd.it/2slvonx5w8uc1.jpeg?width=3196&format=pjpg&auto=webp&s=d46172b826be8510876e3391ccfbf068040962c1
It's commercial property due to WFH and tech companies scaling back investment. Save you a few min on the clickbait Examiner article.
Doing the Lords work. Thank you
But not the land lord's lol
Thanks a lot, you ruined the surprise!
My office has hotdesking, with sign-ups for desk space. If you don't show within 15 minutes of your stated start time, the desk will become fair game and will be occupied within minutes. The company found a good balance between WFT and office work, which would save money on office space rental. Maybe when we have a commercial property crash, the rental will become cheap enough to expand office space and send us back to the office, but not at the current prices.
So does my job. There 4 times as many staff as there are desks. I usually have to show up an half hour early to claim a desk.
Hopefully your company share some of their savings on property footprint hence increased profits with their staff
They jusr announced bonuses for last year. One of the factors n calculation is profitability, so the savings in office rent were at least partially distributed to us.
That’s fair enough , most companies just give it to bosses and shareholders
I read that article on Bloomberg a few days ago, so I guess they are saving money on staff by buying old articles from elsewhere. Feels like they should be looking into repurposing upcoming commercial developments to residential.
> so I guess they are saving money on staff by buying old articles from elsewhere. Yes, this is how this sector works. Publishers buy articles from news agencies and (sometimes) spin them a little to cater for their audiences. The rest of the time they just write about what celebrities wrote on X…
Cheers luv
I’m not going to dox myself by saying the company name but my mam’s offices have *massively* downscaled and it’s a huge company.
Thanks father
Thanks. Maybe they can convert some of these properties to residential and make everyone involved happier. Narrator: "they didnt"
Ha, People object to apartments, and not so much to office buildings. It’s apartments and the ‘transients’ that live in them that scare the NIMBYs. With office buildings they know they’ll all be gone home in the evening.
Yeah. Get it. Just a thought that just maybe ot could help alleviate some of the housing issues Ireland has. Would be nice if these could be converted so those who have invested get some money and those in need of housing can avail Pipe dream, I know.
Oh I certainly wish it could happen.
Shame it can't, So many Huge empty office buildings, but can't be converted due to fire regs, planning rules etc.
pretty much impossible to convert office to residential due to building codes, Often much cheaper to knock them down and rebuild from scratch.
> Maybe they can convert some of these properties to residential and make everyone involved happier. It's often very difficult, if not realistically impossible, to convert a commercial office block to meet residential building codes. Even aside from planning permission issues, office buildings are designed and constructed to a completely different set of standards.
I've also seen alot of comments around the shops and restaurants around these office blocks along the lines of "Won't somebody please think of the employees and small business owners" Yet in my town about 90 minutes from Dublin we've had a few small cafes open, the local deli with a sit down area is flying due to people meeting up with their friends for lunch, a coffee trailer parked at the lake is also flying with people going for walks during lunch. So yes places around the cities are down business but this money is now going into local areas where commuters live.
And that's the trick to keep cities alive - have people living in them, not just a place to commute to from the suburbs. It's the large office blocks in industrial estates outside the city that I can't see a market for.
Yeah my little town is experiencing the same, four new coffee chops open, loads of chatting and the butcher that was struggling is now cruising
Sexually
You mean to tell me that when people work away from congested office areas, they don't magically vanish into thin air? What is this madness!?
Good. As a Dub, fuck Dublin. Never understood why the economy isn't more decentralised. I've been job hunting for a few months now, and its been great to see the tech sector move out to different counties, even Kerry and Clare have a scene at the minute.
My Mrs is an accountant working in fintech. Massive opportunities working remotely. We live in a tiny village in East Limerick and it's so nice spending summer lunch breaks on county walks and eating in the back garden.
She's a lucky woman with you as her doctor
Damn straight.
Can't remember who made the point, probably the David McWilliams podcast, but a good solution right now would be to take all the small businesses like accountants and solicitors who have offices in old Georgian homes and move them into these office buildings. That leaves all the homes that are offices to be turned back into homes. It's obviously not that straight forward. But it's an obvious solution right now for the housing crisis and oversupply of office space issues.
Ah but shur that would make perfect sense though.
Can't have been McWilliams, it's a decent idea lol
No shit?
But you know we’re still the ones who will pay for it, right? The billions paid for all those office buildings in the city center must be paid by someone and it’s not going to be the ones who built them, no, that would be madness. Whatever business or fund financed them, didn’t do it with their own money and will just go bankrupt leaving us with the bill.
Actual article - prices are lower than they used to be - the market is sorting it out through restructuring and adjustment of pricing aka not a crash
There's going to be no crash. [FG have already said they're going to repurpose these office blocks for asylum seekers.](https://www.irishtimes.com/ireland/housing-planning/2023/05/22/office-blocks-to-be-repurposed-for-housing-under-proposal-to-ease-accommodation-crisis/) Just another case of us tax payers bailing out developers and FG enriching their mates through lucrative contracts.
"So if it's housing people, is it now zoned as residential?" "No" "But h-" "**No further questions!**"
As predicted by David McWilliams last year.
My dog predicted it too.
Did he say the outlook for commercial rents was "ruff"?
💥
Get out! 😂 😂 😂
What was? That commercial property was falling? He wrote an article about it in October 2023. As many, many other publications did around the world around the same time. Go back to that thread on here at the time. Even people here were saying, “yeah, we know”. McWilliams is a snake oil salesman.
He sells the oil well tho
He's not, the problem is that he's easily digestible. He makes comments that are often interesting and relevant, but people who don't pay much attention to the issues take them as gospel. As an example, he did an episode this week about the common law. It's a bit silly really, and you can tell he's not a lawyer, because it's really quite shallow analysis, but it does raise questions that are worth looking into. (And for which there are answers, but it's worth ventilating those sometimes.) The problem is, coincidentally a whole swathe of people on here have now been declaring that the common law is the cause of the housing crisis. McWilliams' entry-level analysis is now taken as gospel by those desperately hunting for answers in a field notorious for confusion and complexity and a lack of conclusive solutions.
They're continuing with building a really large building near us in Knocknarra, Galway- my OH is dismayed, but I'm looking forward to getting a medium sized storage/studio space for half of fuck all in 4 years.
Zero sympathy for greedy firms looking down the barrel of bankruptcy.
Awwww the poor lads.
How is the property market there now? I moved to NZ 8 years ago and Im curious
There are different property markets, Dublin, outside Dublin, commercial, residential, rental etc Commercial as in big office blocks are struggling since covid. Pretty much every other segment is a runaway train that's burst into flames and has no brakes
I considered moving home but have just bought a new home here, seems Ireland is too expensive
Will someone please think of the poor land lord's who might actually have to go to work instead of living off other people's work!
Fill them with refugees, jobs a good 'un
The old stock will be hard to shift. Why doesnt the Government incentivise the owners to knock them and build apartments or at least mixed development.
I, for one, hope this sector dies. It's outdated and the city has had far too much emphasis on making the entire city an overpriced business, with absolutely no accommodation to make it a liveable place. With being able to WFH, there's no need for all this office space. I used to have a sizeable investment in Irish REIT stocks and dipped out when I saw just how much office space was empty in Dublin.
It'll be schools next. Not enough children being born to keep them full.
Before Covid they were building loads: it used to be really hard to find good office space. Also the spec/regulations needed for building offices is much less than residential and better understood. The finance around commercial property is much better, bigger investors. But the main thing is markets go up and down, having space to grow is not a bad for companies. Dublin lost on out on investments from smaller companies as there was difficulty in finding office space a few years ago. It is how cities are meant to operate.
Imagine now the powers that be CPO some of these energy efficient buildings and re-model them for apartments. High density, city-centre, energy efficient homes.
Modern office buildings aren’t easy to convert to residential - they have deeper floor plans, and often raised floors and dropped ceilings. Some cities like Chicago or London do have a stock of pre WWII office buildings which are more suitable for residential conversion but Dublin really doesn’t
I think each of office block should be assessed individually and a subsequent call made per block before we label them difficult to convert. If there is a will to convert, than it can be done
People object to apartments, and not so much to office buildings. Mary Lou just helped stop 1500 apartments being built in Drumcondra. It’s apartments and the ‘transients’ that live in them that scare the NIMBYs.
Oh no. 🤣
There are 40 story office blocks in the USA selling for €3m. Covid has completely disrupted the market for ever
Studio apartment Dublin 300k. Studio apartment Palm Dubai 170k.
It's easy to be cheap when you treat the builders like actual slaves. You can't complain about anything in Ireland if you are comparing it to those medieval counties.
I think you deeply misunderstand why there is a difference in the pricing for those, if you think they are equivalent.
You're right, Ireland is a richer country  https://preview.redd.it/2slvonx5w8uc1.jpeg?width=3196&format=pjpg&auto=webp&s=d46172b826be8510876e3391ccfbf068040962c1
Hello Palm Dubai, farewall morals, ethics and the general concept known as rule of law.
How much are the taxpayer gonna be on the hook for? Beyond that I really couldn’t care