Why are there so many empty offices and so few homes?

Dublin’s office market is likely to get worse before it gets better with no relief in sight until 2027 amid a collapse in demand and a glut of new developments coming on stream. Last week the Central Bank aired its concerns over the situation. So will there by a crash in the office market sector and what might that mean for the economy?

John McCartney from BNP Paribas Real Estate explains why the fall in demand is part of a cycle and explores the forces – including troubles in the ICT sector and post-pandemic WFH – that have brought us to this tipping point.

Irish Times columnist Una Mullally is in no doubt that the crash has already begun and that poor planning has blighted Dublin with empty newly-built office blocks dotting the city while housing is so desperately needed.

Both explain where they are coming from and how we can move on.