Data from the commercial real estate service provider Savills has shown that deals were done on 17 per cent more office space in terms of square footage in the most recent three-month period than was the case in the previous quarter.
Reflecting on the research, experts at Savills concluded there was likely to be a 40 per cent rise in overall office space take-up in Ireland during 2010 compared with the level reported over the course of last year.
A total of almost 290,000 square feet of office space was taken up in Ireland in the third quarter of this year, with communications, IT, and media companies thought to be among the main drivers of demand for high-quality office space to rent in Dublin
“The ongoing activity from these sectors highlights Dublin’s continued attractiveness to international firms as a base for their European operations,” commented Roland O’Connell, director of office services at Savills.
Facebook, Google, PayPal and Microsoft all have offices in the Irish capital, while Intel and Hewlett-Packard both have sizeable manufacturing facilities in nearby locations.
Editor’s notes: Data released in 2023 showed that annual take-up by office lettings and purchases by owner-occupiers in Dublin totalled 233,820 square metres in 2022.
This was lower than the 10-year average of 240,000 square metres but was 60 per cent up on the previous year, proving resilience following the pandemic.
Banking giant Citigroup’s deal, where it signed for 27,871 square metres of prime office space at the planned Waterfront South Central in north Docklands, was one of the largest of the year.
It is expected that acquisitions by companies in the Technology, Media and Telecoms (TMT) sector will slow in 2023, following the various rounds of job cuts in the tech sector that began in the Summer of 2022.
Prime office rental levels in Dublin city centre reached €700.00 per square metre per annum in 2022.
It was reported in 2026 that office space take-up by way of lettings in Dublin was approximately 242,000 square metres (2.6 million square feet) in 2025.
This figure had been boosted by AI platform Workday’s acquisition of 36,847 square metres (416,000 square feet) at the College Square development via a pre-let deal.
This super-prime office space letting marked Europe’s largest office deal since the pandemic.
It was also reported in 2026 that there was approximately 35,000 square metres (377,000 square feet) of office space taken up across 40 deals in the first quarter of 2026.