20 May 2022

Commercial Vacancy Rate in Kilkenny Falls to 12%

Commercial Vacancy Rate in Kilkenny Falls to 12%

Commercial vacancy rate in Kilkenny

The commercial vacancy rate in Kilkenny decreased by 0.7 percentage points to 12.0% in Q4 2020 according to the latest GeoView Commercial Property Report published by GeoDirectory and EY-DKM today.

This was lower than the national average of 13.5%. 

Kilkenny accounted for 2.3% of the State’s total commercial stock of 211,677.  

The findings of the report suggest that the impact of the Covid-19 pandemic on the commercial property landscape in Ireland has not yet been fully realised. However, key trends and indicators are beginning to emerge.  

An increase in commercial vacancy rates was recorded in 19 counties in Q4 2020 when compared to the corresponding period in 2019. This included every county in Munster, Ulster and Connacht. Of the five counties to record a decline, all were located in the Leinster region.  

Previous GeoView Commercial Property Reports have highlighted a growing regional disparity in commercial occupancy rates and this trend appears to be accelerating. The commercial vacancy rates in Connacht and Ulster were above the national average of 13.5%, while Munster was equal to the national average. In comparison, Leinster (12.3%) and Leinster, excluding Dublin, (12.7%) recorded vacancy rates below the national average.  

The seven counties with the highest commercial vacancy rates were all located along the west coast of Ireland, with almost one-in-five commercial properties vacant in Sligo (19.9%), the highest in the country.  

With the exception of Kildare (14.4%), all counties in the Greater Dublin Area registered commercial vacancy rates lower than the national average, with Meath (10.1%) recording the lowest rate. In the capital itself, the vacancy rate fell marginally by 0.1pp to 11.9%.  

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