The Dublin Office Market Q3 2022 is out now. Download the full report.
Dublin office market take-up of 868,000 sq ft in Q3, brings the total year to date to 1.8m sq ft.
With over 1m sq ft reserved, our forecast for total take-up in 2022 has been revised upwards to between 2.5m – 2.7m sq ft.
A&L Goodbody’s decision to take 155,000 sq ft at North Wall Quay was the largest deal of the quarter.
New space on prime streets in Dublin 2, Dawson and Kildare streets in particular, is in demand by Professional and Financial Services, with 38% of total Dublin office market take-up in Dublin 2.
Demand for space in the suburbs has also picked up for example, Dalata’s taking 15,000 sq ft of new space at the Termini Building in Sandyford.
Prime Dublin office rents continue to edge up driven by inflationary pressures and increased demand with the best space with sustainable credentials is expected to achieve €70 per sq ft by year end.
Joan Henry, Chief Economist & Head of Research