National Overview: Vacancy Rates Hit ⁢New High

Ireland’s commercial vacancy rate‍ reached a record high of 14.6% in June 2025, representing 30,800 vacant commercial units nationwide, according to a new report by GeoDirectory, analyzed ‍by EY.‍ This marks an increase in commercial vacancies⁣ in ⁢17 of the 26 counties surveyed. Despite ⁤a recent‍ decrease of nearly⁤ two percentage points, the overall trend remains upward.

Annette⁣ Hughes, director at EY Economic Advisory, noted the contrast between rising commercial vacancies and historically low residential vacancy rates, highlighting the challenges faced by commercial businesses despite the strong performance of the Irish economy.
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Cork’s Performance:⁤ Below National Average

⁣ Cork’s commercial vacancy rate‍ in June 2025‍ was 12.5%,lower than the national average ‍of 14.6%. While the rate in Cork increased marginally-by 0.1‍ percentage points-compared to the same period in 2024, ⁤it remains relatively stable.

Cork ranked as the fifth lowest in the state for commercial vacancy rates, trailing Meath, Wexford, Westmeath, and Kerry.
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⁣ ⁢ Within Cork, cobh and Youghal⁣ recorded ⁤the highest vacancy rates at 19.1%.

Regional Disparities: Sligo and⁢ Ballybofey Face Highest Vacancies

Notable regional disparities exist. Sligo recorded the highest proportion ⁣of vacant commercial units nationally at 20.8%, followed by Donegal, Galway, and Leitrim.

⁤ Ballybofey, County ⁢Donegal, had the highest commercial vacancy rate among the 80 main towns and urban areas surveyed, reaching 33.7%. In contrast, Carrigaline, ⁣County Cork, reported the lowest vacancy rate⁣ at 5.1%.

Shifting Commercial Landscape

Dara Keogh,CEO of GeoDirectory,emphasized that the 30,800 vacant commercial units reflect ⁢a shifting commercial landscape and evolving consumer behavior.
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