Small drop in Galway’s commercial vacancy rate
Galway’s commercial vacancy rate in Galway was 18.7% at the end of December – significantly higher than the national average of 14.6%.
It comes as the national commercial vacancy rate in Ireland increased by 0.1 per cent to 14.6% in the twelve months to December 2025, the highest rate recorded by GeoDirectory to date.
The report revealed that, of the urban areas in Galway surveyed, Tuam had the highest commercial vacancy rate at 23%, while Loughrea had the lowest at 18.1%.
The latest GeoDirectory Commercial Buildings Report, prepared by EY, showed that Sligo recorded the highest commercial vacancy rate in the State at 20.8%, followed closely by Donegal (20.6%) and Galway (18.7%).
Connacht had the highest vacancy rate of the four provinces, at 18.6%, followed by Ulster (17.3%), Munster (14.3%) and Leinster (13.2%).
Meath remained the county with the lowest commercial vacancy rate in the country at 10.0%, followed by Wexford (10.9%) and Westmeath (11.9%).
The report found that Shannon, Co. Clare reported the highest commercial vacancy rate in Q4 2025 at 34.5%, increasing by 3.6 pp in the 12 months to December 2025.
Ballybofey, Co. Donegal dropped from first to second place with a vacancy rate of 33.6%, a decrease of 2.8 pp. Boyle, Co. Roscommon (29.8%), Sligo Town (26.4%) and Letterkenny, Co Donegal (26.2%) completed the top five towns with the highest commercial vacancy rates.
In contrast, the lowest commercial vacancy rates in the country were recorded in Carrigaline, Co. Cork (5.1%) and Greystones, Co. Wicklow (7.3%).
"The continued upward trajectory of commercial vacancy rates, which remains at an all-time high of 14.6%, is an indicator of several economic factors which have been developing for a number of years,” said Dara Keogh, CEO of GeoDirectory.
“This includes the increased penetration of online shopping and commerce, along with remote working trends.
“The changing needs of businesses and consumers, and the subsequent impact on commercial property, should be closely considered to ensure the best utilisation of these spaces in the future,” he added.
EY Partner Simon MacAllister said that, while the report finds that commercial vacancy rates have continued to nudge upwards, this was in the context a large and diversified commercial property base of more than 210,000 units.
“While there are structural challenges in some regions, it is encouraging that nine of the fifteen towns with the highest vacancy levels recorded year on year improvements,” he said.
“This indicates that local efforts to revitalise town centres, along with natural commercial turnover, can have a positive impact.”