Louth commercial vacancy rate rises to 15.1%

The commercial vacancy rate in Louth was 15.1% in December 2025 according to the latest GeoDirectory Commercial Buildings Report, prepared by EY. The represents a 0.1 percentage point (pp) increase in the commercial vacancy rate compared to December 2024.

The commercial vacancy rate in Louth was higher than the national commercial vacancy rate of 14.6%.

Of the urban areas in Louth surveyed, Drogheda had the highest commercial vacancy rate in December 2025 at 20.3%, while Adree had the lowest at 15.2%.

The national commercial vacancy rate in Ireland increased to 14.6% in Q4 2025 and translates to 30,687 vacant commercial units across the country in December 2025.

14.6% is the highest rate of commercial vacancy recorded by GeoDirectory since it began tracking commercial vacancy data in 2013.

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%).

This report examined a sample of 80 towns throughout Ireland, as well as 22 postal districts in Dublin, to assess the shift in commercial vacancy rates from the fourth quarter of 2024 to the same period in 2025.

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%).

Dublin’s commercial vacancy rate stood at 13.5% in Q4 2025, a 0.2 pp decrease from Q4 2024, remaining below the national vacancy rate of 14.6%.

Dublin 8 had the highest vacancy rate of all Dublin districts at 17.7%, which is 3.1 pp higher than the national vacancy rate. Dublin 10 and Dublin 18 experienced the largest vacancy rate increases, growing by 2.1 pp each when compared with Q4 2024, followed by Dublin 4 and Dublin 11 which both increased by 1.3 pp.

The Dublin postcode with the lowest vacancy rate was Dublin 15, at 6.9%.

Commenting on the findings of the GeoDirectory Commercial Buildings Report, Dara Keogh, CEO of GeoDirectory, said, "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. 

Read Next: Louth hotel named Ireland’s Best Waterside Wedding Venue

“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.”

Commenting on the findings of the GeoDirectory Commercial Buildings Report, Simon MacAllister, Partner at EY, said, “The latest GeoDirectory Commercial Report finds that commercial vacancy rates have continued to nudge upwards, however this is 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. This indicates that local efforts to revitalise town centres, along with natural commercial turnover, can have a positive impact.”