Irish office vacancy rate rises 'on tech slowdown and home working'

Vacancy figures in cities have risen to as much as 18%

The Republic's construction industry will stabilise at €32bn this year, consultancy Aecom predicts.

Office vacancy rates in Irish cities have risen to as much as 18% as the slimming of jobs in the tech industry, new supply, and staff working from home combine to depress demand for  commercial property, a leading construction consultancy has said. 

The Aecom annual review also predicts tender price inflation of 4% this year, as labour costs continue to weigh despite sharp price falls in many building products, including steel, but the Gaza war has raised new challenges, it warns.