Industrial take-up in Dublin was approximately 68,000 sq.m. in Q3 - the highest level since Q4 2010.
Cumulative take-up in the first three quarters has been approximately 185,000 sq.m. - just short of the 189,000 sq.m. taken-up in the entire of 2012.
For the first time since 2008, vacancy rates have fallen for two consecutive quarters as take-up outstrips the supply of space coming to the market.
Southwest Dublin continues to dominate with almost 80% of Q3 take-up occurring in this location.
Sales accounted for 46% of all Q3 transactions, up from 41% in Q2 and 20% in Q1. The vast majority of sales were to cash buyers and, with prices at an all-time low, value for money is driving this demand.
The distribution and logistics sector accounted for 36% of Q3 take-up, with the construction/engineering and manufacturing/pharmaceutical sectors accounting for 23% and 21% respectively.
In a review of European logistics property markets, Capital Economics recently highlighted Ireland as one of three countries where capital value growth will be strongest over the next 5-10 years.
Source : Savills