Waterford’s commercial vacancy rate has climbed to 14.8%, slightly above the national average, according to the latest GeoDirectory Commercial Vacancy Rates Report.

The figures, compiled by EY, show that in June 2025 the rate of empty commercial units in Waterford rose by 0.3 percentage points compared to the same period last year. Within the county, Waterford City recorded the highest vacancy rate at 19.1%, while Tramore had the lowest at 12.1%.

Nationally, commercial vacancy reached a new high of 14.6%, with 30,800 units vacant across the State. Vacancy rates increased in 17 of the 26 counties surveyed, underlining a continuing upward trend.

The west of the country continues to report the highest levels of commercial vacancies. Sligo topped the list at 20.8%, followed by Donegal (20.3%), Galway (18.7%), Leitrim (18%) and Limerick (17.9%). At the other end of the scale, Meath reported the lowest rate at 10%, making it the only county with fewer than one in ten commercial properties lying vacant. Wexford (10.6%), Westmeath (12.2%) and Cork (12.5%) also remained well below the national average.

In Dublin, the vacancy rate stood at 13.9% in the second quarter of 2025, an increase of 0.6 percentage points compared to the previous year but still below the national average. Among towns and urban areas, Ballybofey in Donegal had the highest vacancy at 33.7%, while Carrigaline in Cork (5.1%) and Greystones in Wicklow (5.5%) reported the lowest.

GeoDirectory CEO Dara Keogh described the figures as “a reminder that our commercial landscape as well as consumer behaviour is shifting,” while EY’s Annette Hughes noted that rising vacancies reflect ongoing cost pressures on businesses, despite the wider strength of the Irish economy.