JLL Dublin Office Market Update – Q2 2023

The JLL Dublin Office Market Report examines the data and trends throughout Q2 2023 and provides an outlook for the 2023 market.

Demand for office space has increased quarter-on-quarter, following one of the lowest quarterly take-up levels in Q1. 408,000 sq ft of office space transacted through 54 deals in Q2, representing growth in volumes of 49.5% quarter-on-quarter, albeit from a low base of 272,000 sq ft. The H1 2023 take-up levels reached a total of 680,000 sq ft.

Like the previous quarter, economic uncertainty is continuing to impact active market demand. That, coupled with the changing nature of hybrid style working has resulted in many occupiers deferring decisions on real estate pending review of their return to office policy. As hybrid working policies are reinforced, we expect occupational requirement criteria to become more apparent over the coming year which will then in turn increase activity levels.