Office rents up 10%, but retail rents falling

Office rents are up 10% already in 2014 in Dublin as the office market leads the recovery of the country’s commercial market — but retail’s still a drag, with rents continuing to fall even in major cities like Cork and Dublin.

That’s according to the 2014 Outlook and 2013 Review by the Society of Chartered Surveyors of Ireland.

In the SCSI report, published today, it warns of the dangers to Ireland’s ability to attract Foreign Direct Investment unless substantial new office schemes are urgently facilitated in Dublin and Cork: it calls for finance to be made available for development and fast-track SDZ planning provided, for key projects and sites in places like Dublin’s south docks.