Dublin office take-up was 335,000 sq ft during Q3, with the highest level of demand coming from the IT sector, which accounted for 27% of lettings, according to Lisney.
The IT sector has made up 44.1% of Dublin office take-up for the year-to-date, or 616,000 sq ft. This already exceeds the 506,000 sq ft take-up from the sector for the 2013 full year.
Financial services followed IT, making up 21% of lettings during the quarter.
The office vacancy rate for Dublin as a whole stands at 16.5%, while 14% of city centre space is unoccupied.
No new office buildings have been completed, and only two are slated for completion in 2015 – a site in Ballsbridge and the former Canada House site on St Stephen’s Green. However, completion of both may be delayed until 2016.
A shortage of space means that tech companies will increasingly be forced to consider taking space in the suburbs rather than the city centre, according to Lisney’s Q3 update.
Prime headline rents are around €41 (£32.30) per sq ft.
