- Occupier activity in 2024 came in at the upper end of the Knight Frank forecast range for the year as a whole, with just under 2.2m sq ft taken up.
- The profile of occupiers that took office space continues to reflect the sectors with the strongest employment growth with Professional Services in particular accounting for 22% of all the space taken in the Dublin market in 2024.
- Knight Frank expect demand to remain strong in 2025, driven by some large requirements. Almost 1.2m sq ft of space is reserved at the start of Q1, giving a strong opening position.
- Upward movement in prime rents will become evident from the middle 2025.
- Pre-let’s are expected to become a feature of the market by the end of the year, given the very tight development pipeline post 2026.
- Q4 brought a relatively strong end to the year for office investment activity.
- 2025 is expected to see an increase in the number of larger lot sizes coming to the market.
- Prime office yields remain steady at 5%-5.25%. Depending on stock that comes to the market, or that is available off market, this yield level is expected to be tested further over the coming quarters.
Joan Henry, Chief Economist & Director of Research, Knight Frank Ireland

For a full copy of this report, please contact
Joan.Henry@ie.knightfrank.com
or Robert.OConnor@ie.knightfrank.com