Dublin office rent rises to continue

Prime office rents in Dublin are expected to rise by another 10% in 2014, following a 15% increase last year.

The latest office market review from commercial property specialist, HWBC claims that the additional increase should entice property developers to invest in new sites. Last year, HWBC noted, rental rates for prime office space in Dublin grew by approximately 15%, with total space let up 20%

“Rental levels of prime new developments are likely to reach levels high enough to justify investment in new development,” said HWBC director Paul Scannell. “You can expect cranes and building activity to become a more common sight in Dublin this year after several quiet years.”