2023-03-08-莱坊-Dublin_Office_Market_Overview_Q4_2022_7页_7mb

报告摘要

Ireland's economy continues to outperform EU trading partners, with GDP growth in 2022 projected at over 12%, making it the strongest performing economy in the EU.
Employment grew strongly, with net job creation of over 24,000 in 2022, driven mainly by multinational companies, and the unemployment rate ended 2022 at 4.3%, the lowest in two decades.
Inflation remains persistently high, at 5% or more, despite easing expectations, due to global energy prices and cost pressures.

High demand in Q4 2022, with total office space take-up reaching 2.64 million sq ft, primarily in the city centre.
Key sectors driving demand include Financial Services and Professional Services.
Prime rents for new buildings in prime locations, such as Dublin 2, averaged €70 per sq ft at the end of 2022, with strong activity in high-profile deals like Citibank's 300,000 sq ft purchase.
New developments, including high-level sustainable buildings in North Docklands, attracted discerning occupiers.

Movements in "grey" space (pre-let or recently vacated) are expected to significantly disrupt the market in 2023, with about 50% of such space available or coming to the market.
Factors driving this include the tech sector's reduction in workforce and space, and the re-entry of pre-let buildings like Two South County Business Park.
This could lead to downward pressure on prime rents and increased competition for office spaces as occupiers adjust to economic challenges.

Significant investment in commercial property in 2022, with office assets comprising 37% of total spend, amounting to €5.8 billion.
Major transactions included Brookfield's acquisition of a healthcare portfolio and the purchase of Salesforce's Dublin HQ, reflecting strong international interest.
ESG (Environmental, Social, and Governance) considerations are increasing scrutiny on investments, while ESG-focused ratings support demand for sustainable spaces.

Economic growth for 2023 is projected between 3% and 4%, with inflation likely to remain above historical levels, easing but staying elevated.
Supply risks include ongoing completions in the city centre, with about 700,000 sq ft planned for 2024, potentially feeding into rental pressures.
The market is expected to slow in the first half of 2023 due to excess supply and occupier caution, but overall expansion is anticipated, with demand driven by sectors like Professional Services and continued global migration.

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