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Report reveals 14 percent commercial vacancy rate in Galway
Galway Bay fm newsroom – An average of just over 14 percent of commercial units in Galway are vacant.
That’s according to the third GeoView quarterly report jointly compiled by GeoDirectory and DKM Economic Consultants.
The survey shows a 17 percent commercial vacany rate in the city.
In the county, Tuam has a rate of 15.3 percent, followed by Loughrea where the vacany rate stands at 14.6 percent.
The Q3 edition also compiled an analysis of the economic activity in 101 locations including Galway city, Tuam and Loughrea.
It found that financial sector commercial units account for 3 percent of city address points.
This compares to 2.2 percent at county level.
Nationally, the commercial vacancy rate stands at 12.3 percent – an increase on the 11.9 percent recorded in the previous quarter.
Ballybofey in Co Donegal has the highest commercial vacancy rate of over 28 percent, while Greystones in Co Wicklow has the lowest at 3.5 percent.