Office rents stabilise
DUBLIN office market activity has rebounded slightly in the first half of the year as prime rents begin to stabilise.
Savills Ireland latest research report -- Office Market in Minutes Q2 2011 -- found that while the overall vacancy rate is up, the lack of new Grade A space in prime locations will see demand outstrip available supply as completions drop to the lowest level since 1985.
Roland O'Connell, of Savills said that the outlook for the office market was positive. "We expect that there will be a continued and more pronounced divide between prime and secondary office space with demand remaining focused on prime central locations and on new space in well-located suburbs," he said.