CBRE NI has reported a quiet second quarter for Northern Ireland’s commercial property market, with ongoing geopolitical and economic uncertainty from quarter one continuing to influence investment activity and occupier decision-making.

Despite subdued market conditions, the latest figures from CBRE NI’s Q2 2026 Commercial Property Market Report highlight resilience across several sectors and point to opportunities in the second half of the year.

Retail performance remained robust, with Belfast city centre continuing to experience strong occupier demand and limited availability, placing upward pressure on prime rents. Retail parks also continued to perform well, supported by expansion from value, grocery and food and beverage operators, while further Lidl openings are planned across Northern Ireland later this year.

The office market demonstrated steady underlying performance, with 76,098 sq ft of take-up recorded across nine transactions during the quarter. Prime office rents increased to £27.00 per sq ft as the supply of high-quality space continues to tighten, although major occupier decisions remain on hold with decisions likely to come in quarter three.