Commercial rents rise as much as 15%

Rising rents, falling vacancy rates and supply shortages characterise the Dublin commercial property market, according to figures released yesterday.

Rental rates are growing at a rapid pace in parts of the capital with increases of as much as 15% in the second quarter of the year in the most sought-after areas.

According to commercial property consultants CBRE, 41 transactions were completed in the Dublin office market in the second quarter, bringing the total for the first half of the year to 100.