Market Monitor 2023
Welcome to Market Monitor Q3 2023 – Analysis of the Dublin Office & Investment Market.
Here’s a snapshot of what has been happening:
Dublin Office Landscape:
“Tech slowdown/retreat has led to an increased supply of New Grade A stock which is competing (for the first time on any significant scale) with New Grade A ‘Landlord Controlled’ stock.”
- Strong Activity: Approximately 967,000 sq.ft. taken up, spanning 144 deals.
- SME Dominance: Most activity noted in the 0-10,000 sq.ft. sector.
- Competition in Grade A Stock: New ‘Landlord Controlled’ Grade A stock faces challenges due to reduced demand and rivalry from ‘Tenant Controlled’ Grade A offerings.
- Prime Location: The Central Business District (CBD) sees the most action.
- Rent Dynamics: Rents across all grades are witnessing downward pressures.
“Ireland remains a highly regarded, secure and stable market and remains an attractive destination for international investors.”
- High Volume: About €1.705 billion transacted, dispersed across 91 deals.
- Prominent Lot Size: Transactions between €0-€10 million represent 63% of all deals.
- Dublin’s Centrality: Remains the hub for investments, accounting for 69%.
- Investor Caution: Despite the volume, investor sentiment leans towards caution, both for institutional and smaller private investors.
- Future Trends: Increasing demand from institutional investors for high-quality ESG compliant buildings.
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We developed Market Monitor with a clear vision: to provide a straightforward resource for those looking to understand more about Dublin’s commercial property scene. Our findings reflect not just numbers, but also the collective knowledge of our team. At Murphy Mulhall, we’re always ready to help and answer any questions you might have.
For any clarifications or additional details, feel free to reach out to any of our team members. Contact Us Today.