The commercial building vacancy rate hit record highs in December reaching 14.6% with most sectors of the economy recording declines in occupancy throughout last year, a new report from GeoDirectory shows.
The report shows that there were 30,687 vacant commercial units across the country during the final three months of 2025. The overall vacancy rate increased by 0.1 percentage points during the year which, while it might be a small increase, is still the highest rate ever recorded by GeoDirectory since it started keeping track in 2013.
Chief executive of GeoDirectory Dara Keogh said the continued upward trajectory of commercial vacancy rates “is an indicator of several economic factors which have been developing for a number of years”.
“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.”
The vacancy rate increased in 14 counties during the course of 2025 while 11 counties registered a decline. Sligo recorded the highest commercial vacancy rate at 20.8%, followed closely by Donegal at 20.6%, and Galway at 18.7%.
The lowest commercial vacancy rates were recorded in Meath at 10%, Wexford at 10.9%, and Westmeath at 11.9%. Dublin’s commercial vacancy rate stood at 13.5% while Cork’s was 12.8%.
The report analysed 80 sample towns around the country 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.
Shannon in Clare was the town with the highest commercial vacancy rate at 34.5%. In contrast, the town with the lowest commercial vacancy rates in the country was Carrigaline in Cork at 5.1%.
In total, there are 179,971 occupied commercial address points in the state as of the end of 2025, of which 152,316 were assigned a code associated with a particular economic sector. This is a decrease of 1,116 year-on-year which was largely attributed to the retail and wholesale sector as well as the services sector recording declines of 397 and 387 units, respectively.
Of all economic sectors monitored, the only one that saw an increase in the number of addresses over the year was education which increased by nine.
The services sector, including hospitality and tourism, continued to have the largest share of commercial sites, however, accounting for 49.5% of the overall total. Within the services sector, accommodation and food services had the highest number of commercial units, accounting for 22,005 units or 14.4%.
The retail and wholesale sector was the second-largest sector in terms of occupied commercial sites, making up 21.8% or 33,226 commercial units.
