Market reports

 

29/07/2019

Dublin | Offices

At A Glance Dublin Office Market Q2 2019

At A Glance Dublin Office Market Q2 2019

Office take-up in Dublin was relatively low in Q2 with just under 30,000 sq.m leased. This brings total take-up for the first half of the year to 163,322 sq.m which represents an increase of 4% relative to the same period in 2018.

Office take-up in Dublin was relatively low in Q2 with just under 30,000 sq.m leased. This brings total take-up for the first half of the year to 163,322 sq.m which represents an increase of 4% relative to the same period in 2018. Importantly, while larger deals can have a significant impact on quarterly turnover, demand for smaller-sized office units (< 500 sq.m) has remained consistent with an average of 34 lettings falling within this size bracket each quarter since the beginning of 2016. The fact that we have seen no decline in the number of smaller lettings suggests that the growth in take-up by serviced office providers has not had a negative impact on this end of the market. Instead, serviced offices are increasingly being occupied by larger companies who are seeking to expand in the city centre but to do so while maintaining flexibility.