The number of empty commerical buldings in Galway is higher than the national average of fourteen per cent.
In the twelve months last year 2022 the vacancy rate in Galway increased by 0.7 percentage points (pp ) to 17.6 per cent, according to the latest GeoDirectory Commercial Vacancy Rates Report, published today.
Of the urban areas in Galway surveyed, Tuam had the highest commercial rate at 25.2 per cent, while Loughrea had the lowest rate at 16.8 per cent.
According to the report, the commercial vacancy rate in Ireland hit a ten year high of 14 per cent, the highest level recorded by GeoDirectory since the report began in 2013. The report found that commercial vacancies increased in 18 out of 26 counties.
County Commercial Vacancy Rates
Sligo, at 19.6 per cent, was the county with the highest commercial vacancy rate, followed by Galway (17.6 ) and Donegal (17.5 ). The west of the country continued to record high commercial vacancy rates in Q4 2022, with the commercial vacancy rate in Connacht reaching 17.6 per cent, an increase of 0.3 per cent compared to the same period in 2021.
Meath (10.2 per cent ) remained as the county with the lowest commercial vacancy rate in the state, closely followed by Wexford (10.4 per cent ) and Kerry (12.2 per cent ).
In Dublin, the commercial vacancy rate was unchanged from Q4 2021 at a rate of 12.9%, which remains the highest level recorded in Dublin since Q4 2016.
