Dublin sees 66% increase on office space leased in 2024 [Video]

The amount of office space leased in Dublin last year increased by two thirds on the total for 2023.

The market, which has been decimated by the pandemic and the push to work from home, has shown strong signs of recovery in 2024.

Take-up in Q4 of 2024 was nearly 548,000 sq ft (50,891 sq m) which brought the full-year take-up to over 2.25m sq ft (209,000 sq m)- a 66% increase on the full-year activity in 2023.

CBRE described the rebound as “a hugely positive outturn” which they said “demonstrates the renewed occupier confidence in the market, particularly for prime-located, sustainable stock.”

They noted “2024 total take-up is just 12% below the long-term average for the market.”

The largest leasing deal in the final quarter was at 1 Adelaide Road where ‘Big Four’ accounting firm Deloitte agreed a long-term lease for 14,400 sq m for their new Irish HQ.

The deal accounted for 28% of the quarterly take-up in Q4.

The …