Carrigaline had the lowest commercial vacancy rate of any town in Ireland in the second quarter of this year, after a decrease of nearly two percentage points, according to a new GeoDirectory report.
Overall, Cork’s 12.5% commercial vacancy rate in June this year was lower than the national average of 14.6%.
The analysis, prepared by EY, found the national commercial vacancy rate reached a new high of 14.6% in June 2025, with a total of 30,800 commercial units classified as vacant across the State. In total, the commercial vacancy rate increased in 17 out of 26 counties surveyed.
Compared to the same period in 2024, the commercial vacancy rate in Cork increased, but only marginally, by 0.1 percentage points.
Lowest
Cork had the fifth lowest commercial vacancy rate in the state, just behind Meath, Wexford, Westmeath, and Kerry; while Sligo, at 20.8%, recorded the highest proportion of vacant commercial units in Q2 2025, followed by Donegal, Galway, and Leitrim.
Of the 80 main towns and urban areas surveyed by GeoDirectory nationally, Ballybofey, Co Donegal, registered the highest commercial vacancy rate at 33.7%, while Carrigaline (5.1%) had the lowest vacancy rate.
Of the urban areas in Cork surveyed, Cobh and Youghal both had the highest commercial vacancy rate (19.1%).
Dara Keogh, CEO of GeoDirectory, said: “There are now 30,800 commercial units across the country currently vacant, a reminder that our commercial landscape as well as consumer behaviour is shifting.”
Annette Hughes, director at EY Economic Advisory, added: “Overall the commercial vacancy rate is continuing its upward trajectory at the same time as residential vacancy rates have reached historic lows.
“This trend highlights the significant challenges and market dynamics commercial businesses have faced in recent years, in spite of the strong overall economic performance of the Irish economy.”