Office rents set to drop as firms rethink requirements – Independent.ie

Office rents are expected to fall and vacancies rise as occupiers rethink their post Covid needs to reflect more working from home, and in some cases fewer staff

arge employers in Dublin “will no doubt seek to establish more permanent remote-working protocols and structures,” Deloitte Ireland says.

Some offices would become “destination workplaces” used primarily for client and staff engagement, training programmes, and the most “collaborative” elements of work.

New reports by commercial property agent CBRE and Deloitte say the Covid-19 crisis is likely to result in more subletting of unused space into a ‘grey market’.

Offices will be let at lower prices, including the sublets by tenants seeking to minimise losses on their own idle floor space.

Deloitte said demand should weaken as occupiers “consolidate existing offices and reduce commercial footprints”.

“This will ultimately reduce headcount … as more flexible working practices for staff become the norm and companies

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