The best new office buildings will eventually get taken up but their owners will have to be patient. Photograph: iStock
Accounts of Dublin’s office market have become increasingly polarised. Take-up has strengthened, and industry sources say vacancy is dropping and rents are trending up. However, independent observers are painting an altogether less positive picture.
Last August, I expressed scepticism about the reported plunge in office vacancy rates during the first half of 2025.
Vacancy rates can only fall if occupied space rises faster than the total office stock. Considering all the moving parts – take-up, subleasing and churn within the lettings mix, new building completions and deletions – a sharp decline seemed implausible.
A subsequent Central Bank of Ireland report reinforced this
Continue Reading on The Irish Times
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.