Dublin Office Market Dynamics, Q2 2024
Summary and analysis of Dublin's current office real estate market conditions.
- Niall Gargan
In Q2 2024, Dublin saw 49 leasing events, resulting in a total volume of 923,000 sq. ft. This marked a notable increase of 357.4% of space leased from the previous quarter and 126.1% from the same period in the previous year.
Tech was the largest sector of the quarter, with 28% of take-up, with Stripe, OKTA and SAP taking space in the quarter. The sector remains a large player within Dublin, and a number of requirements indicate it will remain active for the foreseeable future and be a significant part of take-up in 2024.
Grey space declined quarter-on-quarter for the first time since the beginning of its elevated presence in Q4 2020. There is currently 2.21m sq. ft. on the market, advertised as sublease or assignment, down from the historic peak of 2.38m sq. ft. in Q1 2024.
