Dublin’s office market continues to enjoy the support of a rapidly expanding economy. Output growth accelerated from 5.1% per annum in Q1 to 5.8% in Q2. Nearly 70,000 new jobs are being created per year and, within this, office-based employment is growing faster than that in all other sectors of the economy combined (4.2% per annum versus 3.2%). Leaving aside continuing strong jobs growth in Information and Communications Technology (+8.8% in the last 12 months), major employment gains have also been seen in leasing firms (+18% per annum) and legal and accounting services (+10.9%). As noted in our last report public administration employment has also picked up strongly since the lifting of the public sector recruitment embargo, and 6,200 net additional jobs have been created in this area over the last year.
Source : Savills