Commercial Vacancy Rate Rises to 13.5%

                                 

Vacancy rates increase in three of the four provinces in June 2020 compared with June 2019, but too soon to gauge the full impact of Covid-19 on commercial property

 
GeoView Commercial Property Report Q2 2020 Highlights:
 

• The national commercial vacancy rate increased by 0.2 percentage points (pp) to 13.5% in June 2020 compared with June 2019
• Commercial vacancy rates increased in 19 counties, with only three counties registering a decrease
• Continued evidence of an east-west divide in terms of commercial activity. Commercial vacancy rate rose to 17% in Connacht, while Leinster remained unchanged at 12.4%
• Sligo recorded the highest commercial vacancy rate in the country at 19.3%, while Meath registered the lowest at 10.1%
• Analysis of 10-year commercial property trends shows a 12% decrease in the number of banks and credit unions in the main urban areas and a 28% increase in the number of supermarkets

Click here for deeper analysis and to read the full report