Commercial property prices ‘to soar’ in Dublin due to supply constraints

Supply constraints will send the cost of renting offices in Dublin soaring again this year and could likely take the shine off the capital as a leading destination for service and internet firms, the Society of Chartered Surveyors Ireland (SCSI) has said.

In its 2016 outlook, the surveyors predict rents for ‘prime’ office and stores in Dublin will climb 11.7% this year, while the value of office development land after soaring 27% last year is expected to rise this year by 16%.

Value of residential development land, meanwhile, soared 20% last year and will rise 12% this year.