PRIME office rents in Dublin city centre and the suburbs are rising, according to a property poll carried out by the Society of Chartered Surveyors. The survey showed that 90 per cent of the surveyors questioned said rents were on an upward path while 8 per cent believed they were static. Modern offices are now making £15 to £20 per square foot and second-generation space is renting at £10 to £12 per square foot.

The vast majority of surveyors also found that because of the low interest rates and the shortage of prime office investments, yields were falling and were now about 6 to 8 per cent. In the suburbs, only 45 per cent said yields were falling.

In the prime retail areas, 92 per cent believed values and rents are continuing to rise but fewer thought investment yields were falling. Market activity is also considered to be rising. With the strong demand for retail units and retail investments in prime areas, the surveyors said market activity was moving into suburban and shopping centre locations. In suburban high street locations, 60 per cent said rents, capital values and market activity were rising; 40 per cent believed they were static.