Research

Cardiff Office Market Dynamics, Q4 2024

Summary and analysis of Cardiff's current office real estate market conditions.

February 18, 2025

Contributors:

Elaine Rossall
Vicky Heath
Barrie David

Leasing activity reached its highest annual volume since 2017, with almost 446,000 sq.ft. let.

This was led by two large deals in the final quarter, which accounted for more than a third of all floorspace let.

The vacancy rate decreased further to 7.8%. There is no new build space available in the City and the only space under construction is now fully let.

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