Dublin ($70/sqft, 14.3% vacancy) and London ($121/sqft, 8.6% vacancy) compete on different axes: Dublin on rent and tax and London on talent depth.
Dublin ($70/sqft, 14.3% vacancy) and London ($121/sqft, 8.6% vacancy) compete on different axes: Dublin on rent and tax and London on talent depth.
| Metric | Dublin | London |
|---|---|---|
| Region | EMEA | EMEA |
| Country | Ireland | United Kingdom |
| Class A rent (USD/sqft/yr) | $70 | $121 |
| Class A rent (local) | 65 EUR | 95 GBP |
| Vacancy | 14.3% | 8.6% |
| Trend | softening | rising |
| Prime yield | 4.8% | 4.5% |
| Premium flex / seat / month (USD) | $720 | $1,380 |
| Submarkets covered | 5 | 7 |
| Corporate tax | 12.5% | 25% |
| Metric | Dublin | London |
|---|---|---|
| Typical term | 10 yrs | 10 yrs |
| Typical rent-free | 12 mos | 24 mos |
| Lease norms | FRI (Full Repairing and Insuring) leases dominate. 10-year terms with tenant break options at year 5 standard. Free rent of 9-15 months and TI of €60-€110/sqm typical. | London leases are predominantly Full Repairing and Insuring (FRI). Tenant pays service charge and is responsible for dilapidations on lease end. Rent reviews to open-market rent every 5 years are standard. Rent-free periods of 18-30 months on a 10-year term are typical, with 'capped' rent-free for break-clause certainty. Personal guarantees are uncommon for institutional tenants; rent deposits are common for younger covenants. |
| Tax note | 12.5% headline corporate tax on trading income; 25% on passive income. Knowledge Development Box (KDB) effective 6.25% rate available for qualifying IP income. R&D tax credit at 30% supplements. | UK corporation tax is 25% (19% small profits rate). Business rates are a major occupancy cost — ~50% of rateable value annually, levied separately from rent and service charge. |
| Metric | Dublin | London |
|---|---|---|
| Talent index (0–100) | 86 | 96 |
| Talent note | Deep tech, pharma, finance, and legal services talent. EU talent pool accessible without immigration friction. Strong feed from TCD, UCD, and the broader Irish university system. | Largest financial-services and technology talent pool in EMEA. Average all-in compensation indexes 96 vs. New York's 100. |
Dublin: Dublin Bus, Luas tram (Red, Green Lines), DART rail. MetroLink under construction (target 2031). Dublin Airport is bus-served (no rail). The Docklands trophy core is Luas Red Line and DART-served.
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium.
Dublin is the cheaper Class A market on a USD basis.
London has the deeper talent index (96/100 vs 86/100).
Dublin has the lower headline corporate tax (12.5% vs 25%). Local incentives can change the effective rate materially.
Dublin typical term is 10 years with 12 months free; London runs 10 years with 24 months free.
Dublin: Dublin Bus, Luas tram (Red, Green Lines), DART rail. MetroLink under construction (target 2031). Dublin Airport is bus-served (no rail). The Docklands trophy core is Luas Red Line and DART-served. London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium.
Score Dublin, London and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.