Dublin Industrial Market Dynamics, Q3 2024
Summary and analysis of Dublin's current industrial real estate market conditions.
- Niall Gargan
Take-up for the third quarter of 2024 was 383,000 sq. ft. across 23 deals. Volumes increased 5.3% from the previous quarter but remain subdued compared to long-term averages and are 53.3% below the ten-year quarterly average.
While market rents have grown in recent years, there are signs that we may be entering a consolidation period, and we would expect that prime market rents will remain at broadly €13.00 – €13.50 psf for the foreseeable future.
Leasing activity is anticipated to remain subdued, and stock scarcity is expected to be a prominent feature in the market until the pipeline catches up. However, a few notable large requirements are expected to be signed over the coming months, resulting in a marginal increase in quarterly volumes.
