Dublin rents hit bottom with ‘no sign of growth’

PRIME rents in Dublin have hit bottom, according to one of the country’s top commercial property agencies but there are no signs of rental growth for this year.

Jones Lang LaSalle said prime rents could stay at their bottom for a while but it said as supply of prime product tightens, there should be a return to growth in the next 24 months.

It said it is likely the vacancy rate in the capital will fall in 2011 but without a significant increase in take-up it is unlikely the rate will go below 20%.