DUBLIN: Prime office rents in Dublin are forecast to rise in the 12% to 31% range in 2015 after a 29% surge in 2014, according to Society of Chartered Surveyors Ireland.
The organisation’s Annual Commercial Property Review & Outlook 2015 published today says that SCSI members reported that the Dublin Region office rent for prime ‘grade A’ offices in 2014 was €452 per sqm (squarer metre) in 2014, representing an increase of up to 29% on 2013 prices. Average prime ‘3rd Generation’ offices fetched €389 per sqm, conveying a 13.7% increase.
Dublin-based SCSI members expect a 12% increase in rents by year end on prime “grade A” office space, but with an acute shortage of space in this market segment, that figure could well be exceeded and today’s report says industry experts anticipate prime “grade A” office rents to hit €592 per sqm by year end if the positive economic growth trends continue.
A further increase in 2016 to €645 per sqm is not unrealistic if the economy continues to grow.”
