Figures

Dublin Office Market Q2 2025

College Square & 70 St. Stephen’s Green Boost Take-Up; Vacancy Rate Declines

July 8, 2025 10 Minute Read

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  • The second quarter of the year saw another solid period of take-up in the Dublin market, largely driven by two major deals
  • The long-awaited turning point for the Dublin vacancy rate also arrived, as it declined for the first time in three years, a material milestone in this recovery cycle
  • While EU-U.S. trade negotiation uncertainty has not had a discernible impact on office deals just yet, without an agreement, it could manifest in slower leasing volumes in H2
  • Q2 take-up totalled 60,240 sq m, the highest level since Q2 2024, and marginally ahead of the long-term quarterly average. Nearly 75% of activity was accounted for in two transactions
  • A total of 100,801 sq m of take-up completed in H1 2025, marginally down (-3%) versus H1 2024 (104,280 sq m)
  • No offices reached completion in Q2. Just under 35,000 sq m remains under construction, set to complete this year, including the Greenside Building located just off St Stephens Green
  • Two prime investment deals concluded in Q2, with core European capital active