Ballybofey again found to have Ireland's highest commercial vacancy rate
The commercial vacancy rate in Donegal was 20.1% in December 2024, increasing by 1.9 percentage points compared to December 2023 according to the latest GeoDirectory Commercial Buildings Report
Ballybofey has again been confirmed as the town in Ireland with the highest commercial vacancy rate.
The commercial vacancy rate in Donegal was 20.1% in December 2024, increasing by 1.9 percentage points compared to December 2023 according to the latest GeoDirectory Commercial Buildings Report.
Donegal is second only to Sligo on the list with Sligo’s rate now standing at 20.6%, an increase of 0.1%.
The national commercial vacancy rate has reached its highest level on record at 14.5%.
The report examined a sample of 80 towns throughout Ireland, as well as 22 districts in Dublin and once again Ballybofey has been listed as the town with the highest commercial vacancy rate.
In marked contrast, Buncrana and Bundoran had the lowest, at 14.3% each.
There were 30,635 vacant commercial units across the country in December last year.
Annette Hughes, Director at EY Economic Advisory, said, “While residential vacancy continues to decline significantly, dropping to just 3.8% in our most recent GeoDirectory Residential Report, commercial vacancy trends are going in the opposite direction.
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“At 14.5% the rate now sits 1% higher than before the Covid pandemic, representing an increase of over 2,100 commercial units and comes despite a strong economy, growing population and record employment. There are likely many factors at play here including, changes triggered by the pandemic, evolving shopping preferences and continued cost pressures on businesses and households.”