Dublin 8 Is The Best Place To Find An Office As Vacancy Rate Drops
If you are looking for office space in the capital you should head to Dublin 8. At 16.7%, it had the highest commercial vacancy rate in Dublin at the end of 2017.
That is according to the latest Commerical Vacancy Rate report published by GeoView, a body backed by An Post and Ordnance Survey.
In Dublin, the overall commercial vacancy rate fell to 12.4%, a drop of 1.3 percentage points compared to last year. Nationally the commercial vacancy rate fell slightly from 13.5% in 2017.
Of the 22 postal districts in Dublin, 16 recorded a vacancy rate below the national average of 13.3%. The most significant drop in vacancy in the city was in Dublin 2 which experienced a drop of 6.4 percentage points.
The research revealed that 28,091 of the 211,958 commercial address points in Ireland were vacant, with 67.8% of vacant addresses empty for more than three years
Dublin had one of the lowest long term commercial vacancy rates at 61.5%, with Monaghan coming in the highest at 78.5%.
“This report shows that, while there are signs that the economic recovery is beginning to spread outside Dublin, there is still a stubbornly high commercial vacancy rate, particularly along the west coast of Ireland," GeoDirectory Chief Executive Dara Keogh said.
"Given that there is also a high proportion of long-term vacant commercial buildings, there is significant scope to redevelop and put these properties to better use, particularly as discussion around the National Planning Framework continues.”
GeoDirectory surveyed commercial vacancy rates in 102 locations, including 80 towns across the four provinces and 22 Dublin postal districts.