Dublin office leasing hit pandemic high in Q4 2021 – report

Property dealer CBRE says easing curbs boosted demand for commercial buildings

Organisations leased 60 offices in Dublin during the closing three months of last year, the highest since pandemic curbs began in early 2020, one property dealer said.

A report released on Thursday by real estate agent CBRE Ireland shows easing Covid curbs boosted office leasing in the capital during last year as likely customers began viewing buildings.

Tenants leased 60 individual offices, totalling 90,000sq m, in the three months ended December 31st, 2021.

According to CBRE, this was the highest number of offices rented since the first quarter of 2020, the period preceding Government-imposed pandemic lockdowns.


Activity in the final quarter pushed total office space leased last year in Dublin to 150,000sq m.

CBRE pointed out tenants had reserved a further 75,000sq m by the end of 2021, for which occupiers are likely to sign this year.

Marie Hunt, head of research and consulting at CBRE Ireland, said demand for Dublin offices has increased in recent months.

“Take-up volumes remain below normal but have been showing signs of improvement quarter-on-quarter, which bodes well for 2022.”

Barry O'Halloran

Barry O'Halloran

Barry O’Halloran covers energy, construction, insolvency, and gaming and betting, among other areas