Dublin rents to hit boom levels again

Dublin office rents will climb to peak pre-recession levels within the next two years as an acute lack of supply in parts of the capital drive prices higher.

The cost of renting office space in the capital has risen 28% this year to just over €480 per square metre while vacancy rates in the central business district of areas such as Dublin 2 and Dublin 4 are less than 2%.

The growth in rental markets comes amid strong investment volume across all commercial property sectors in the capital — including retail premises — which threatens to reach €4bn and surpass the previous peak of €3.6bn, according to research carried out by Davy Stockbrokers.