Following on from a very strong 2017, activity was subdued in the Cork office market in the first quarter of the year. However, the volume of available accommodation continued to decrease with demand for top quality offices picking up pace. This increase in demand for modern office space is encouraging construction activity with significant progress being made on new developments within the city centre. The overall vacancy rate remains relatively high, however a large proportion of this space is older stock. Rental levels were unchanged in both the city centre and the suburbs in the three month period.