Dublin Office Market, July 2026: Everyone Is Moving. Here Is What That Means For You
13 July 2026 · Craig Maguire, MR Commercial Real Estate
The half-year office figures for Dublin are in, and they tell a clear story. According to Knight Frank's Q2 report, covered by The Irish Times on 1 July, almost 800,000 square feet of office space was let in Dublin in the first six months of 2026. That is right in line with the five-year average, and the second quarter alone topped 400,000 square feet.
The headline deals show who is driving it. Enterprise Ireland took 100,000 square feet at 160 Townsend in Dublin 2. OpenAI signed for 88,000 square feet at the Tropical Fruit Warehouse on Sir John Rogerson's Quay. Tech, AI and financial firms are leading the activity, with professional services close behind.
But the number that matters most is this one: two out of every three square feet let this year went to companies relocating or expanding into new offices. That is not churn. That is growth. Businesses are not just renewing where they sit. They are actively moving, upgrading and taking more space.
Here is my take on what that means if you are running one of those businesses.
The good space goes first. Half of everything let in the first six months landed in Dublin 2, the core of the city around the Grand Canal Dock and Townsend Street. On top of that, another 1.1 million square feet is already reserved, and half of that reserved space is in Dublin 2 as well. Knight Frank expects prime rents to reach 70 euro per square foot by the end of the year.
Put those three facts together and the conclusion is simple. If a move or an expansion is on your roadmap for 2026 or early 2027, waiting is the expensive option. The buildings you would want are the ones being reserved right now, and the longer you leave it, the more you will pay for less choice.
The second conclusion is just as important. In a market where two thirds of activity is companies on the move, landlords and their agents are busy, confident and well represented. You should be too. Every one of those deals was negotiated, and the tenants who did best had someone at the table whose only job was to represent their side: the rent, the term, the break options and the incentives.
That is exactly what we do at MR Commercial. We work only for tenants. We search the full market, serviced, managed, leased and off-market, shortlist and tour the best options with you, and negotiate the terms so you land in the right space on the right deal.
Moving or growing this year? Talk to us before you talk to a landlord. Get in touch at craig@mrcommercial.ie or +353 1 963 6199, or visit www.mrcommercial.ie.