Market Monitor Spring 2025

Welcome to Market Monitor Q1 2025 – Analysis of the Dublin Office & Investment Market.

At Murphy Mulhall, we are proud to release our up-to-date independent assessment of the Dublin Office provided by James Mulhall and Investment Markets by Brian Gaffney.

Here’s a snapshot of what has been happening:

Dublin Office Market: 

“From speaking with occupiers, initial capex which could be €100 – €150 per sq.ft. for a fit-out is not seen as financially prudent at this time. They would prefer to pay a slightly higher rent for high quality space which is ‘ready to go’.” 

James Mulhall

• Take-Up more than Doubled: 439,000 sq.ft. take up, spanning 49 deals.
• SME Dominance: 73% of all Q1 2025 deals were between 0-10,000 sq.ft. sector.
• Fully Fitted Space: Demand on the rise for Fully Fitted space, particularly in the CBD.

Investment Overview:

“Demand remains for energy efficient, future-proofed assets that align with ESG objectives..”

Brian Gaffney

• Volume: About €547 million transacted, across 26 transactions.
• Dominant Lot Size: Transactions between €0-€10 million represent 62% of all deals.
• Investor Magnet: Dublin remains the primary focus for investors.

Want more information? 

Download Market Monitor Q1 2025