A recent report by Helen Bruce highlights a significant increase in commercial vacancies across Ireland, reaching a decade-high rate of 14.3%. Dara Keogh, CEO of GeoDirectory, attributes this surge to various factors, including rising operational costs, evolving consumer behaviours, and the adoption of hybrid working models.
With over 30,000 empty commercial units nationwide, the trend is particularly pronounced in the western regions. Sligo tops the list with a commercial vacancy rate of 20.5%, followed closely by Galway and Donegal. Conversely, Meath maintains the lowest vacancy rate at 10.1%.
Dublin’s vacancy rate rose to 13.2%, with notable variations across different areas of the city. Edgeworthstown, Co. Longford, leads in town vacancies at 30.2%, followed by Shannon, Ballybofey, Boyle, and Sligo Town.
However, towns like Greystones and Carrigaline showcase lower vacancy rates, standing at 5.6% and 7.2%, respectively. The services sector, encompassing hospitality and tourism, holds the largest share of vacant commercial sites, constituting 49.3% of the total.
Annette Hughes, Director at EY Economic Advisory, underscores the importance of strategic policy interventions such as the revision of the National Planning Framework to steer future growth patterns and address commercial vacancy challenges.
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