Office
Availability in the Limerick office market remains particularly tight, as further declines were recorded over the past twelve months. Availability sat at 30,885 sq m in Q1 2022, reflecting an annual decrease of 15%. The corresponding vacancy rate is 7.4%, the lowest vacancy rate in our +20 years detailed data series. Market churn, meaning the release of second hand stock, decreased in 2020 and despite improving in 2021, it remains low.
Industrial
Despite a marginal uptick in quarterly levels of available space, the overall trend of availability continues its downward trajectory. Availability in the Limerick industrial market sits at 37,850 sq m, with a corresponding vacancy rate of 4.1% at the end of Q1 2022. To put into context the shortage in the market, this sits below the long run annual take up average of 43,000 sq m.
Get the full Limerick property market picture with all the market data by downloading the reports.
