Commercial vacancy rates in Donegal rises to 15.9%
Donegal’s commercial vacancy rate has increased by 0.3 percentage points (pp) to 15.9% according to the latest GeoView Commercial Vacancy Rates Report published by GeoDirectory today.
The report, prepared by EY-DKM Economic Advisory Services, found that the commercial vacancy rate increased in all four provinces in 2019. The national commercial vacancy rate stood at 13.3% in Q4 2019, 0.1pp higher than the same period in 2018.
In total, 16 counties recorded increases in their commercial vacancy rate, with a decrease occurring in only 6 counties. Sligo, at 18.9%, was the county with the highest commercial vacancy rate.
The five counties with the highest vacancy rates were all located in Connacht, a sign of the prominent east-west divide in terms of commercial activity.
At 10.1%, Meath recorded the lowest commercial vacancy rate in the country, followed by Kerry (10.7%), Wexford (10.9%), Westmeath (11.6%) and Cork (11.7%). The commercial vacancy rate in Dublin was 12%, 1.3pp lower than the national average.
Almost a quarter (23.5%) of all commercial properties in Ireland are located in Dublin, equating to 49,812 commercial address points.
The three Ulster counties of Donegal, Cavan and Monaghan accounted for only 7.8% of the national total, while Munster and Connacht had 28.9% and 13.7% of the national total respectively.
Edenderry in Co. Offaly, at 29.1%, was the town with the highest commercial vacancy rate in the country.
Ballybofey dropped to second place in the list after registering a 3pp drop in commercial vacancies in 2019. The rate in the town now stands at 27.7%.
Buncrana had the lowest vacancy rate in the county at 13.1%.
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