Dublin Office Rents to Rise 10% by 2026; 80% of Pipeline Pre-Let
Dublin office rents are forecast to rise 10% over the next year, driven by high demand and tight supply, with 80% of new space pre-let. Globally, $144 billion in institutional capital will re-enter the commercial property market in 2026, while private capital continues to lead investments.
Dublin office rents are projected to increase by 10 per cent over the next year, according to a new report from Knight Frank. This rise is attributed to increased demand amid a tightening supply pipeline, with 80 per cent of the 1 million sq ft of office space due for completion by the end of 2026 already pre-let.
The report, the 20th edition of The Wealth Report, notes that the office market is «resetting on occupational reality,» with hybrid working stabilizing and office-first models gaining traction, particularly among financial and professional services firms. Global cities are seeing post-pandemic highs in leasing activity as occupiers expand and compete for prime space.
Globally, commercial property is at a «clear turning point,» with $144 billion of institutional capital set to re-enter the market in 2026. Private capital, including high net worth individuals and family offices, has led commercial real estate purchases for five consecutive years, deploying $464 billion (57 per cent) in 2025 compared to $347 billion (43 per cent) from institutional investors. Ireland's investor activity mirrors this global trend, with private equity and institutional investors splitting spend almost evenly in recent years, a shift from a decade ago when institutional investors comprised nearly 70 per cent.