Prime headline office rents in the Irish capital have dropped by more than 15% in the last 12 months due to declining demand, according to CBRE Ireland's bi-monthly research report.
Prime headline office rents in the Irish capital have dropped by more than 15% in the last 12 months due to declining demand, according to CBRE Ireland's bi-monthly research report.
CBRE says the vacancy rate in Dublin office market stands at over 16% and will continue to edge upwards due to the impact of the worsening economic climate. It is likely, according to the report, that no more than 75,000 m2 of office lettings will be concluded this year, about half the annual average level over the last 10 years.
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