54,000 sq m transacted in the Dublin industrial market in quarter one 2017. Reflecting a decrease of 13% on the same period in 2016, activity continues to be constrained by a lack of good quality floor space. The majority of take up was recorded in the South West region.
The Dublin office market had an extremely busy first quarter of 2017 for leasing activity. Buoyed by a number of large, newly constructed buildings, which were completed and taken up during the quarter, take up reached 94,750 sq m, the highest quarterly level recorded since 2007.
Irish commercial property saw another positive year in 2016, with moderate growth in rental levels across all sectors, combined with slight yield compression. Strong demand from both occupiers and investors sees forecasted prime rental values trending upwards, and further compression on yields across all sectors in the short-term.