- A strong finish to 2025, brought total take-up for the year to 2.6m sq ft, the upper end of the Knight Frank forecast range and 20% ahead of total take-up in 2024.
- 2026 is set to see continued active occupier activity, with close to 730,000 sq ft reserved at the start of the year.
- 65% of space currently under construction and due to complete by 2027 is already pre-let.
- The overall market vacancy rate has fallen to 13.3%, with the underlying rate for space with ESG credentials considerably lower.
- With developers slow to press go on new developments, Dublin’s office modern continues to face a supply crisis by the end of 2027.
- Prime rents are forecast to increase by over 10% in 2026, led by demand in Dublin 2.
- Office investor transactional activity totalled €661m in 2025.
- European investors have acquired the majority of office assets, reflecting 67% of total spend.
- Prime office yields are currently 5% and will be tested at this level over the coming quarters.
Joan Henry, Chief Economist & Director, Research, Knight Frank Ireland
For a full copy of this report, please contact
Joan.Henry@ie.knightfrank.com
or Robert.OConnor@ie.knightfrank.com