Prime city centre office rents in Dublin grew by just under 35 per cent last year, according to a recent survey by CB Hillier Parker, the UK associates of Hamilton Osborne King. This was the second-highest increase of the 154 cities surveyed, with only Barcelona, with a rate of 41.7 per cent, topping the Dublin figure. The average rental growth in the EMEA region, which comprises Europe, the Middle East, and Asia, was 8.6 per cent.

Brian Turner, head of research at Hamilton Osborne King, said the report showed that the rental growth experienced in the Dublin market was exceptional, not just in its own right, but on a global scale.

Dublin's rise up the rankings comes despite the weakness of the Euro against the dollar and sterling. Mr Turner said this partly reflected the strength of rental growth in Dublin, but also the relative weakness in a number of locations, with rents declining in many of the Asia Pacific cities in particular.