Daft Property - Irish Property News

Some Dublin rents among highest in EU despite decline... The relatively high rents for Dublin prime office and retail accommodation are highlighted by the latest Knight Frank summer survey of European rents and yields. Dublin's prime shopping centre rents, at €3,750 per sqm per year, are the second-most expensive of the 25 cities surveyed and surpassed only by London's West End, where rents average €5,556 per sqm. Parisian rents, at €2,000 per sqm, are little over half those in Dublin. Dublin shopping centre rents are the only ones to show declines. Keiron Diamond, director at Knight Frank Ireland, points out that many distressed tenants have secured rent reductions or other forms of deals with landlords, some of whom, however, are reluctant to publicly acknowledge rent cuts. The values of Dublin shopping centres have declined and this is also reflected in the yields, which at 7.75pc, shows the values are the fourth cheapest in Europe. Some might argue that the high...