DEMAND for office space has increased by a staggering 60% in Dublin, according to new figures from Lisney estate agents, which claims it has had to increase its office team to keep up with heavy demand.
And latest data from the Central Statistics Office (CSO), back up these findings, by revealing that rapid jobs growth in the services sector is fuelling this demand. Job creation has also been very strong in the professional occupations, up 17,500 year on year, while clerical and administrative jobs are also up by 11,700 this year, according to the CSO.
And while the take-up for offices in Dublin is on the increase, office vacancies in Dublin have also fallen by 36% in the last year, according to Paul Hipwell, divisional director of Lisney.
"We've recently handled lettings to a number of major companies in the professional services sector, which has accounted for 9.5% of take-up in this year, " he says.
Another factor influencing increasing demand for office space in the capital is the strong growth experienced in the public service, where employment has risen by 7% in the last year. So far this year, the state has acquired 8.3% of all office space taken up this year, claims Hipwell. Lisney says it recently let space in Le Pole House, beside Dublin Castle, to the Public Service Benchmarking Body.
An active IT sector has further contributed to the increase in demand for office space, with 14% of all office space rented out to IT firms.
Lisney has just let 2,200sq m (23,672sq ft) in Cherrywood to IT firm Tiltware.
|