Dublin Office Market Dynamics, Q2 2026

Dublin Office Take-up Gathers Momentum from Q1: Dublin recorded office take-up of 1m sq ft in H1 2026, a result 22% above five-year H1 average, driven by a broadening of demand beyond the technology sector into banking, professional services and flexible workspace.

Vacancy Rate Records Fifth Consecutive Quarterly Decline: Total vacancy fell to 12.2% at the end of Q2 2026, continuing a run of five consecutive quarterly declines from a peak of 15.9% in Q1 2025, a reduction of approximately 3.7 percentage points over twelve months. Dublin 2 vacancy held at approximately 9.8%, close to the decade low reached earlier in the year.

Reserved Stock Continues to Build: Reserved stock rose 19% quarter on quarter to approximately 976,000 sq ft, with city centre reservations accounting for 719,000 sq ft and suburban reservations totalling 256,000 sq ft. The continued build in reserved stock points to further vacancy stabilisation in H2 as these transactions complete.