Insights & Research

Belfast Office Market Report – H2 2022

After a slow start to 2022 the Belfast Market finished strongly in the second half of the year, supply decreased as the year progressed and whilst the sector continues to evolve with hybrid working the office market is recovering with 53 deals recorded in Belfast city centre in 2022.

2022 has witnessed a flight to quality with the new developments in the city outperforming the competition. Not surprising given the benefits that these buildings offer namely high ESG credentials to include excellent on-site amenities, high sustainability features and efficient energy performance.

The office environment is increasingly being used in a bid to retain and attract staff which is why we expect the flight to quality will continue and those with secondary type buildings will need to invest heavily to attract new tenants and retain existing occupiers in the future.

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