Dublin Office Market Overview Q3 2020

Expansions from tech and pharma companies support take-up in Q3, while demand for investments from European buyers remains strong

  1. The Irish economy is now forecast to perform much better in 2020 than was expected during the early days of the pandemic
  2. 230,000 sq ft of office space was let in Q3, bringing take-up for the first nine months of 2020 to 1.1 million sq ft
  3. The vacancy rate rose to 8.9% in Q3, while prime rents declined by 8% to €57.50 psf
  4. 728,000 sq ft of new office stock reached practical completion in Q3
  5. €213.7 million worth of office investments changed hands in Q3, bringing volumes for the first nine months of 2020 to €835.1 million
Dublin Office Market Overview Q3 2020 Cover