New research from estate agents CBRE has found that commercial rates in the capital are now stable at about half their peak and 30% below the average over the past 10 years.
The new ‘Market View’ report from CBRE shows that prime retail rents in the capital can be had for about €5,000 per square metre. That compares with €10,000 a metre between 2006 and 2008.
Despite the fall, rents are still ahead of the €4,000 a square metre that they were at in 2002.
According to the report, Grafton Street remains the most expensive street in Dublin, followed by Henry Street, where space costs €4,250 per square metre.
Despite the number of retailers that have closed their doors in the capital in recent months, the occupancy rate remains low, according to CBRE.
The ground-floor vacancy rate now stands at less than 1% in Dublin, compared with almost 6% in 2010.