LIMERICK had the highest commercial vacancy rate in Munster at the end of last year, according to a new report.
The GeoDirectory Commercial Buildings Report, prepared by EY, revealed that the vacancy rate across the county was 18 per cent (almost one in five) in December during quarter four 2025, higher than the national average of 14.6 per cent.
This increase represents a 0.1 percentage point increase in the rate of vacancies compared to December 2024.
Limerick made up 4.3 per cent or 9,119 of Ireland’s vacant commercial building stock during this time.
Of the urban areas in Limerick, Newcastle West had the highest commercial vacancy rate (24.7 per cent – or close to one in four), while Abbeyfeale had the lowest (18.2 per cent).
The national commercial vacancy rate in Ireland increased to 14.6 per cent in Q4 2025 and translates to 30,687 vacant commercial units across the country in December 2025.
14.6 per cent is the highest rate of commercial vacancy recorded by GeoDirectory since it began tracking commercial vacancy data in 2013.
It also found that Shannon, County Clare, reported the highest commercial vacancy rate in Q4 2025 at 34.5 per cent, increasing by 3.6 per cent in the 12 months to December 2025.
Commenting on the findings of the GeoDirectory Commercial Buildings Report, Dara Keogh, CEO of GeoDirectory, said: “The continued upward trajectory of commercial vacancy rates, which remains at an all-time high of 14.6 per cent, 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.”
Simon MacAllister, partner at EY, also commented that “the latest GeoDirectory Commercial Report finds that commercial vacancy rates have continued to nudge upwards, however this is in the context a large and diversified commercial property base of more than 210,000 units.”
“While there are structural challenges in some regions, it is encouraging that nine of the 15 towns with the highest vacancy levels recorded year on year improvements. This indicates that local efforts to revitalise town centres, along with natural commercial turnover, can have a positive impact.”