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Irish Office Market - Q4 2015

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Irish Office Market - Q4 2015

Activity in the Dublin office market was strong in 2015, with take-up for the year as whole reaching 265,000sqm, marginally higher than the total for 2014. The prime central business district locations (CBD) of the IFSC and Dublin 2&4 accounted for 31% of total annual takeup. Including Dublin 1, 3, 7 & 8, Dublin’s city central and city locations represented 64% of in 2015.

This strength of demand for city and central locations, despite the rise in prime rents (+22%) last year, reflects the better than expected performance in both the economy and the jobs market and the consequent overall increase in business and consumer confidence Take-up in quarter four was the strongest all year, with 78,000sqm of space occupied, of which 29% was located in Dublin 2&4.

Source : BNP Paribas Real Estate 

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