Commercial vacancy rate hit a 10 year high in 2022

Commercial vacancy rate hit a 10 year high in 2022 Commercial vacancy rate hit a 10 year high in 2022

The commercial vacancy rate in Ireland hit a 10 year high last year, according to a new report by GeoDirectory.

According to the study, the national rate increased by 0.1 percentage points to 14% in the final quarter of last year.

In total, there were 29,581 empty commercial units across the country.

The report, prepared by EY, found that commercial vacancies increased in 18 out of 26 counties.


The highest commercial vacancy rate was recorded in Sligo at 19.6%, followed by Galway at 17.6% and Donegal at 17.5%.

The lowest commercial vacancy rates were recorded in Meath at 10.2%, Wexford at 10.4% and Kerry at 12.2%.

The town with the highest commercial vacancy rate was Shannon in Co Clare, after increasing by 5.9% in the 12 months to last December.

Gorey in Co Wexford and Greystones in Co Wicklow were the towns with the lowest commercial vacancy rate in the country, at 7.1% each.

"The rate of commercial vacancies is the highest level recorded by GeoDirectory since the Commercial Vacancy Rates Report began in 2013, continuing the trend of increasing rates in recent years," said Dara Keogh, Chief Executive of GeoDirectory.


"It is likely that this will continue in the short to medium term, as working-from-home becomes more formalised, combined with the growth of online retail and services, resulting in businesses requiring less physical space than previously," he added.

Stay on top of the latest news with our newsletters.

Processing your request...

You are subscribed now!

© Copyright 2023.