2014 is expected to be a strong year for the Dublin offices market, according to real estate financial services firm JLL.

The company made the announcement as it released the Dublin Office Market Insight 2014. The report analyses the performance of the office market in 2013 and presents the company's outlook for 2014.

Hannah Dwyer, Head of Research, said: "The Dublin office market performed well in 2013, with steady levels of take-up, strong occupier demand, rental growth and a reduction in vacancy rates. Although overall supply is high, a key issue is availability of prime space in core locations. Prime city centre rental growth is evident and further increases are expected in 2014.

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"There are opportunities for refurbishment of Grade B and C space to provide immediate supply to the market. In response to changing market conditions, speculative development has now recommenced and further new construction is expected over the course of the year. 2014 is expected to be another strong year for the offices sector."

The 'top five' trends for 2014 according to JLL are:

1. There will be strong occupier demand for prime space

2. Prime supply will continue to tighten in key locations

3. Rents will increase and incentives will tighten

4. There will be speculative development

5. Dublin will remain an attractive location for international business

(IT/MH)