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  • EXPERIENCE QUALITY Under One Brand with A Single Point of Control
  • UNITING LOCAL COMMERCIAL Real Estate Experience with Global Execution
  • DELIVERING RESULTS Through Collaboration & Integration

Ireland

Ireland

Ireland is a service based economy that is geared towards accountancy, legal services, call centers and customer service operations, finance and stock broking, catering, and tourism. Many US firms (such as IBM, Apple Inc., Google and eBay) located their European customer service operations in Ireland due to the availability of a young, highly educated, English speaking workforce. High tech industries have also seen a rise in Ireland recently, with 25% of all computers that are produced in Europe having been manufactured in Ireland. The government does play an active role in monitoring the economy with such services as media, transportation and energy being overseen by the government. Ireland has not completely nationalized these services though and does allow private sector competition.

The commercial market in Dublin is seeing a reduction in purchase and rental rates, along with a rise in the vacancy rate which is predicted to top out at just under 20%. Developers are offering more occupier friendly terms in a bid to attract the companies that are putting their expansion and relocation plans on hold. There may be an opportunity for tenants with break options to renegotiate leases and get more favorable lease terms as landlords are put under pressure to secure tenants.