Dublin office space rental costs rise by eight times the European average

The rental cost of office space in Dublin increased by almost eight times the European average in the last year, according to new research by property consultants Savills.

Dublin recorded the fastest growth in net effective rents in Europe at 39.3%, while London City experienced the second fastest at 16.7%. The average increase was 5.1%.

Jobs growth coupled with fewer rent-free incentives from landlords are behind the sharp rise, according to director of research at Savills, Dr John McCartney.