Dublin benefits despite high rents

OFFICE space in Dublin is as much as 60% more expensive than Cork and Belfast, but Ireland’s low corporation tax rates means companies are still being attracted to the capital.

Prime office rent in Dublin is about €35 per square foot and it is about €15 to €20 in Cork.

A report from commercial real estate firm, CB Richard Ellis, that despite office rents and business costs generally being considerably higher in the Irish capital than in many competing cities over the last 10 years, Dublin accounted for a greater proportion of foreign direct investment and office letting activity than other cities. CBRE said this is primarily due to Ireland’s low corporate tax rate at 12.5%.