Modest but encouraging growth in demand for affordable Dublin office rental

DUBLIN office rentals are showing a mild but encouraging take-up growth, notably in smaller, more affordable units, according to new commercial property analysis.

The latest MarketView from property consultants CB Richard Ellis (CBRE) has shown an overall 66% increase in the take-up for the first half of 2011 versus this time last year. The quarterly trend is also positive, with April-June up 36% versus January-March.

It is clear also, however, that the upturn in the capital is primarily in smaller business units. Take-up in Q2 2011 comprised 51 individual lettings, 29 of which were smaller than 465m² in size. A further 21 lettings were between 465m² and 1,858m².