Property Year In Review

Office market digs its heels in for another rough ride

Conor Whelan of QRE said buzz phrase among investors in Europe is ‘survive until 25’

Oodles of office space: More than 2 million square feet (about 185,800 square metres) of new product was delivered into the Dublin market in 2023

This was fundamentally a tough year for the commercial property market in Ireland and 2024 is set to be another potentially challenging year. The buzz statement from deal makers and investors around Expo Real Munich in October was ‘survive until 25’.

Office markets globally have been hit significantly since Covid-19 and Ireland has not escaped this trend. Working from home has led to uncertainty on occupancy requirements, leading to relocation decisions being delayed or postponed ...