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Central Bank warns of oversupply risk to the office market

A million square metres is currently being added in capital

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Stock image. Photograph: Getty Images

Stock image. Photograph: Getty Images

Stock image. Photograph: Getty Images

A flood of new offices hitting the market is running well in excess of post-pandemic demand which has been dampened by the big shift to remote working, the Central Bank has warned.

The analysis raises major question marks over whether the market can absorb the new supply. It suggests demand would have to double from the average of about 150,000 square metres of Dublin office space taken up in 2020 and 2021 to match the supply coming onstream between now and 2024. 


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