2019 was another exceptional year for the Dublin office market with total take-up reaching close to 310,000 sq.m by year-end. This makes 2019 the third strongest year on record with takeup again well exceeding the ten-year average.

The Dublin office market continues to perform well with take-up reaching 34,933 sq.m during Q3 2019 across 39 deals. This brings take-up for the first nine months of the year to 198,057 sq.m which is just 5% below the corresponding period in 2018.

Office take-up in Dublin was relatively low in Q2 with just under 30,000 sq.m leased across 50 transactions.

Total office take-up reached 133,306 sq m across 57 deals in Q1 2019 marking the third strongest quarter on record.

Commercial property investment activity remains strong, boosted by a number of high-value asset sales.
Total turnover for the first three months of the year reached more than €609 million across 41 deals.

Nearly €800m of property assets traded in Q3. Because Q3 coincides with holiday season, this was somewhat lower than the Q2 figure. However, it represented a 14% pick-up on Q3 2020 turnover and was the second strongest Q3 for six years. Taking the year-to-date as a whole, €3.52bn of income producing assets have now traded, meaning
that activity over the first nine months has already outstripped the 2020 total.

Total commercial property investment turnover reached €1.5 billion during Q2 2021, marking a 23% increase relative to the previous quarter. This brings total turnover for the first six months of the year to more than €2.7 billion; an impressive result considering Ireland was in a Level 5 lockdown until May.

Ireland has been in lockdown since January 1st, meaning property inspections and overseas travel, along with
construction activity, could not take place. Despite this, more than €1.2 billion was invested in Irish commercial real estate assets during Q1 2021 with overseas investors again predominating.