Saturday January 18, 2020

Dublin‘s office market is in a sweet spot

We haven‘t fallen into the trap of overbuilding, with developers supplying office on a build-to-order basis

8th December, 2019
53,700 jobs have been generated in Ireland over the last year, and 31 per cent of these are office-based jobs in Dublin. Picture: Getty

The usual boom-time development surge has not really happened during this economic upswing. Fewer than 150,000 square metres of office space will be completed in Dublin this year, compared with 300,000 square metres in both 2001 and 2007 – when our economy was significantly smaller. If we net out demolitions, the total stock will rise by less than 100,000 square metres. This reflects a ‘new normal’ in which funding for speculative development has become harder...

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