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Failure to fill new Dublin office space risks worsening decline in commercial real estate, Central Bank warns

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Supply of office space in the capital scheduled for delivery over the next few years is significant despite recent downturn, Central Bank warns

A failure to fill new office space in Dublin over the coming years could lead to oversupply and exacerbate the downturn in Ireland’s commercial real estate market, the Central Bank warned on Wednesday.

In its latest fiscal stability review, the regulator said take-up in the capital’s office market increased last year following the removal of Covid-19 restrictions, but has now fallen back to pre-pandemic levels, with office vacancy rates remaining above pre-Covid levels at 10.9 ...

 

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