National commercial vacancy rate up slightly to 13.9%
The commercial vacancy rate across the country reached 13.9% in the second quarter of this year, up 0.25% on the same period last year.
This is the highest level recorded by GeoDirectory since it began reporting on the rates in 2013.
There were 29,241 vacant commercial units recorded across Ireland in the second quarter, a rise of 410 when compared with the previous year.
The figures show that 15 out of the 26 counties saw vacancy rates increase in the twelve months to June 2022.
“The latest GeoDirectory Commercial Buildings Report highlights a marginal but continued rise in commercial vacancy rates across Ireland,” said Dara Keogh, Chief Executive of GeoDirectory.
“The past two and a half years have proved to be difficult for businesses to navigate, thanks to the impact of Covid-19 restrictions followed by rising inflation and energy costs,” he said.
At 19.4%, Sligo was the county with the highest commercial vacancy rate, followed by Galway and Donegal both at 17.2%.
The county with the lowest commercial vacancy rate was Meath at 9.9%, followed by Wexford at 10.6% and Kerry at 11.7%.
Ballybofey in County Donegal, remained the town with the highest commercial vacancy rate in the state at 30.2%.
Carrigaline in County Cork moved from the third lowest to the lowest commercial vacancy rate in the country, decreasing from 8.8% in the second quarter of last year to 6.8% this year.
Greystones in County Wicklow had the second lowest vacancy rate at 7.7%.
Today’s figures show that Dublin recorded an increase of 0.5% in the year to the second quarter, with the commercial vacancy rate in the capital rising to 12.6%.
For the second year in a row, Laois recorded the highest increase at 2.2%, increasing the commercial vacancy rate in the county to 15.2%.