Office vacancy rates fall for first time in 2 years

VACANCY rates in the Dublin office market have fallen for the first time in two years, with experts saying a two-tiered system is emerging with prime locations in more demand.

The latest market review from property consultants CB Richard Ellis found that in the first quarter of 2010 office take-up continued to rise and the supply pipeline remained constrained.

CB Richard Ellis said there is real potential for a two-tiered market to emerge in Dublin, with rents for prime modern accommodation in the best locations starting to edge upwards while rents for secondary accommodation remain under further downward pressure.