Cork and Dublin office rents fall 33% but growth on horizon

OFFICE rental prices in Cork and Dublin plunged a third last year – some of the sharpest declines worldwide.

In Cork, annual rent levels were down 33% to €200 per square metre while in Dublin’s IFSC, rent was down 38% to €301. The highest office rent in Dublin was in the D2 and D4 districts, where rent fell 33% to €377 per square meter a year.

European rents were on average down 11%, according to the latest report from brokers Cushman & Wakefield.