Quality to drive commercial rents up
Further significant compression of Irish commercial property yields is unlikely
2016 was a brisk year in commercial markets. Dublin office take-up reached around 220,000 square metres – the 30-year average is 140,000 square metres – and with vacancy rates now well below equilibrium, rents have been rising. Rental growth rates have slowed, largely because developers are discounting pre-lets to de-risk their projects.
Nonetheless, prime headline rents should continue to rise – from €645 per metre per annum currently to €690 by the end ...
