But the rise in the vacancy rate was contained by relatively modest levels of development after the construction sector was hit with the second lengthy lockdown of the pandemic.
"Although leasing activity is recovering, and approximately 75,000 square metres of space was reserved as we entered the new year, absorption is unlikely to match this figure and therefore vacancy could edge higher in 2022," he concluded.Prime headline rents in Dublin stand at around €619 per square metre per annum, the report concluded, which is about 7.6% off their pre-Covid peak.
We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage Preferences However, there are significant variations within the market at the moment with rents for the 'best in class' buildings in prime locations expected to outperform.