Dublin Office Market Dynamics, Q1 2026

Dublin Office Market Sustains Strong Momentum into Q1 2026: Dublin recorded office take-up of 377,000 sq ft across 40 transactions in Q1 2026, a result 34% above the five-year Q1 average, reflecting continued positive momentum from 2025 and a broadening of demand across technology, financial services, insurance and professional services sectors.

Vacancy Rate Records Fourth Consecutive Quarterly Decline: Total vacancy fell to 12.6% at the end of Q1 2026, continuing a run of four consecutive quarterly declines from a peak of 15.9% in Q1 2025. Dublin 2 vacancy has now reached approximately 9.9%, approaching single digit levels for the first time in three years, while reserved stock rose 60% quarter on quarter to approximately 819,000 sq ft, pointing to further compression ahead.

Development Pipeline at Lowest Level Since Post-GFC Recovery: The volume of space under construction stands at 1,490,000 sq ft, the lowest level since 2013 and 2014, with only 398,000 sq ft scheduled to deliver in 2027.