Recovery in office sector predicted

Dublin: The Irish arm of international commercial real estate firm, CB Richard Ellis (CBRE), has forecast a quarterly and annual recovery in office transactions for the final three months of the year.

In its fourth-quarter first estimate report, CBRE said that letting activity in the Dublin office market has reached just over 39,500 sq m in the fourth quarter and 124,000 sq m in the year to date — which is a significant increase on what was expected at the beginning of 2010.