Strong Belfast market boosts Northern Ireland office take-up

Northern Ireland has outperformed the national office absorption trend, with just 2.4 years’ worth of supply left at the current rate of take-up against the country-wide figure of 2.8 years. This performance, anchored by a strong Belfast lettings market, means that Northern Ireland is the fourth-most constrained region for office supply across the U.K. However, there has not yet been a response from developers to this trend, with permissions for new office space decreasing by 66% year-on-year – going counter-grain to the rest of the country, where permissions increased by 3%.

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