New builds ‘will stop office rent rise’

The Construction Industry Federation has said “real and meaningful” construction activity is needed in the Dublin commercial sector to stop a lack of supply from pushing rents above peak Celtic Tiger levels.

With 56,000sq m of office development and refurbishment projects under way in Dublin’s central business district, Davy Stockbrokers yesterday said it expected office rents to continue to inflate over the next two years and exceed their 2007 peak.

There are predictions that companies looking for “Grade A” developments in Dublin 2 and 4 postcodes can expect to encounter double digit inflation.