Office vacancy rate falls to 16% in Dublin

The office vacancy rate in Dublin has fallen to 16.6 per cent of the overall supply, putting it on a par with 2008 levels, according to the latest quarterly report from JLL.

Take up of space in Q2 was 38,975sq m (419,540sq ft), bringing the overall figure for this year to 94,964sq m (1,022,210sq ft).

The average deal size was 906sq m (9,757sq ft) and there were no lettings greater than 4,645sq m (50,000sq ft).

The JLL report says prime rents in the city centre have risen to €484 per s q m (€45 per sq ft) with some already in excess of €430 (€40).