Facebook- The biggest renter in Ireland

Prime office rents in Dublin rose by 15% last year and are likely to rise by a further 10% this year, according to commercial property specialist HWBC.Read the Full Report

In its annual office market review, the company notes that there was a 20% increase in the amount of office space let in Dublin last year.

The biggest deal in the Dublin market last year was Facebook’s move to a 11,300 sqm office in Grand Canal Square.

The second largest deal was Deutsche Bank’s move to a 10,100 sqm office in the city’s East Point, while trading and derivatives firm SIG’s deal to move into International House in the IFSC was third.

In all, multinationals expanding or setting up in Ireland accounted for seven of the top ten office deals in Dublin last year.

High quality offices accounted for the majority of the up take last year, according to HWBC, while just 3% came from so-called Grade C buildings.