Report shows property dereliction is high in Galway

The county accounts for 8.9% of all derelict properties in Ireland, the third-highest share after Mayo and Donegal.

The GeoDirectory Residential Buildings Report highlights a total of 1,412 new residential address points recorded in Galway over the past twelve months with a further 1,284 under construction.

The residential vacancy rate in Galway was 5.4%, higher than the national average of 3.7%.

Commenting on the findings, Dara Keogh, CEO of GeoDirectory said:

“While we've seen a significant increase in new residential address points, which is a testament to ongoing construction and development, the market continues to navigate complex issues.

“We continue to see low levels of vacancy in the residential property sector at 3.7% and average house prices continue to rise, now at €418,261. This reflects persistent demand, even as we observe a slight decrease in overall property transactions.”

Meanwhile, the report says that average property price across Galway City and County over the past year stood at €364,536.

Within the Galway City Council area, that figure climbs to €410,888, while new builds are commanding even higher prices of €467,475.

Galway City has also seen the sharpest drop in residential sales anywhere in the country. Just 698 transactions were recorded representing a fall of 21%.

Yet, based on area codes, Galway’s H91 still ranked among the busiest markets outside Dublin, second only to Limerick, with homes averaging €446,538.

When it comes to affordability, first-time buyers in Galway City are better off purchasing than renting.

A median-priced new home (€467,475) requires a 10% deposit, leaving a mortgage of €420,728. That works out at €2,013 a month over 30 years at the current 4.02% fixed rate.

Average rents in the city, meanwhile, are €2,304, almost €300 more per month.

It’s a different story in the county. There, the median new home price is €407,462, with monthly repayments of €1,755. Renting comes in slightly cheaper at €1,659 representing a €96 saving.

Nationally, house prices are calculated on a 12-month basis to June 2025, while repayments are based on Central Bank interest rate data.

Pictured: Dara Keogh, CEO of GeoDirectory.