Commercial Vacancy Rate Falls To 13%

15 Aug 2018 | 02.07 pm

Commercial Vacancy Rate Falls To 13%

One quarter of commercial premises in Ballybofey are vacant

15 Aug 2018 | 02.07 pm

The national commercial vacancy rate fell slightly to 13.1% in Q2 2018, according to GeoDirectory. 

The report says 14 counties recorded a decline in commercial vacancy rates, compared with only two counties in the same period last year. However, there is still a clear divide between counties in the east and west of the country, and in urban and rural areas, in terms of commercial vacancies.

Dublin registered a drop of 1.6 percentage points over the past twelve months, while Roscommon saw the highest increase (1.1 percentage points). Meath and Kerry at 10.4% are the counties with the lowest vacancy rate while Co. Sligo has the highest commercial vacancy rate  at 18.8%.

Ballybofey in Donegal has the highest commercial vacancy rate in the country at 28.8%.

Leinster’s commercial vacancy rate stands at 12.3%, while at the other end of the scale the vacancy rate in Connacht is 16.3%. Of the ten counties with  vacancy rates lower than the national average, six are located in Leinster.

Greystones(5.7%), Maynooth (7.5%) and Gorey (9.1%) are the towns with the lowest vacancy rate for shops and offices.

GeoDirectory chief executive Dara Keogh commented: “We are beginning to see evidence that the economic recovery is taking hold outside Dublin, albeit at a slow pace. While this is a positive development, economic activity is still centred around Dublin, with Connacht, Ulster and the Midlands lagging behind.”

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