July 7, 2022

Dublin – July 6th, 2022 – Today, CBRE release their Dublin Office Market Report for Q2 2022.

CBRE analysis shows that activity in the Dublin office market continued to gather pace in Q2. A total of 46,370m² of transactions completed in the quarter, making it the strongest Q2 since 2018. Overall H1 take-up now stands at 91,831m².  This is a solid opening half to the year with market sentiment among Dublin occupiers remaining broadly positive, despite global macroeconomic headwinds. More than 118,500m² of Dublin office accommodation is reserved at the end of Q2 and competition for prime, modern, ESG friendly space is driving prime rental growth. Prime office rents in Dublin increased to €673 per square metre (€62.50 per sq. ft.) during Q2, with further growth anticipated in H2.

According to the author of the report, Colin Richardson, “We are starting to see a return to pre-pandemic trends in the Dublin office leasing market and competition for prime, modern, ESG friendly space is driving rental growth, with a number of deals completing this quarter at rent levels that have solidified this view. The analysis in our report touches on the supply/demand dynamic in the Dublin city market and illustrates that it remains broadly balanced at this juncture, with much of the new stock to be delivered to the market this year already pre-let”.

About CBRE

CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 150 employees, we work with occupiers, investors and developers of office, industrial and logistics, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com