The following report provides a detailed overview of the Irish office market in 2016. This market analysis covers occupier activity, vacancy levels, development activity and rental performance in the regional office markets of Dublin, Cork, Limerick and Galway.
The Irish office market saw another strong year for leasing activity in 2016, with take up levels achieving just shy of 300,000 sq m across the four regional markets and ahead of the long-run average for the third consecutive year.
Occupier demand in Dublin strengthened considerably during the year, supported by continued strong employment growth and FDI investment. Take up reached 261,700 sq m, 15% higher than 2015 levels and its highest level since the peak of the market in 2007.
Source : Cushman & Wakefield