Ballybofey has the highest commercial vacancy rate in the country, report reveals

Ballybofey is the town with the highest commercial vacancy rate in the country, according to a new report.

The GeoDirectory Commercial Vacancy Rates Report says the commercial vacancy rate in Donegal was 19.4% in June 2024, an increase of 1.5 percentage points (ppts) compared to the same period in 2023.

The twice-yearly analysis, prepared by EY, found that the commercial vacancy in Donegal was higher than the national average of 14.4%. Of the main urban areas in Donegal analysed, Ballybofey had the highest commercial vacancy rate at 33.6%, while Bundoran had the lowest at 13.4%.

In Donegal, Letterkenny's vacancy rate is 24%, Donegal Town 18.7% and Buncrana 14.7%.

The highest commercial vacancy rates continue to be found in the west of the country with Sligo, at 20.5%, recording the highest proportion of vacant commercial units in Q2 2024. Donegal (19.4%), Galway (18.5%), Limerick (17.5%) and Leitrim (17.5%) rounded off the top five counties with the highest commercial vacancy rates.

Meath, at 9.8%, was the county with the lowest commercial vacancy rate in the country and the only county in the State with a vacancy rate below 10%. Wexford (10.6%), Cork (12.4%), Kerry (12.5%) and Cavan (12.5%) were the counties to record the next lowest commercial vacancy rates.

In Dublin, the commercial vacancy rate was 13.3% in Q2 2024, an increase of 0.2 ppts compared to the previous year. Dublin 2 was the area with the highest commercial vacancy rate in the capital, at 17.8%. Dublin 9 (17.5%), Dublin 8 (17.3%) and Dublin 3 (14.7%) were the other postal districts in the city which recorded higher vacancy rates than the state average. At 6.7%, Dublin 15 and Dublin 16 had the lowest vacancy rates in the capital.

Ballybofey was the town the highest commercial vacancy rate in the state, followed by Edgeworthstown, Co. Longford (30.2%) and Shannon, Co. Clare (29.8%). At the other end of the scale, Greystones, Co. Wicklow (5.6%) and Carrigaline, Co. Cork (7.2%) were the towns with the lowest vacancy rates.

Using NACE -  the statistical classification of economic activities, an acronym for General Industrial Classification of Economic Activities within the European Communities - codes to classify commercial units by economic sector, the latest GeoDirectory Commercial Vacancy Rates Report has identified broad trends in the use of commercial units nationally.