Galway is facing a housing paradox. On one hand, house prices and rents continue to soar, making it increasingly difficult for people to find affordable homes. On the other, over 5 per cent of residential properties in the county sit vacant, with many of them derelict.
Highlighted as one of the key issues facing Galway in The Organisation for Economic Co-operation and Development’s (OCED ) national survey, the county’s high rates of vacant and derelict properties made headlines once again this week following the latest release by GeoDirectory.
The latest GeoDirectory Residential Buildings Report reveals that Galway’s residential vacancy rate stood at 5.3 per cent at the end of 2024, well above the national average of 3.8 per cent. This means that while demand for housing remains high, a significant number of homes are lying empty.
The scale of the problem
Galway is not alone in this struggle. The highest vacancy rates in the country are concentrated in the west, with Leitrim (11.8 per cent ), Mayo (10.6 per cent ), Roscommon (10.3 per cent ), and Donegal (9.0 per cent ) among the worst affected counties. At the other end of the spectrum, Dublin has the lowest vacancy rate in the country at just 1.2 per cent, reflecting the extreme housing pressure in the capital.
Adding to the issue is the large number of derelict properties across the country. In the absence of an accurate reporting system for derelict housing, the true depth of the issue is yet to be revealed. According to GeoDirectory, 20,000 homes were classified as being derelict address points in Q4 2024, with Galway accounting for 8.8 per cent of this figure. Combining these figures with the preexisting derelict stock in the nation, the true number of derelict properties is believed by some to be closer to 81,000 homes.
Real action
In response to the high rate of derelict properties, Galway’s Labour councillors; Cllr Niall McNelis, Cllr Helen Ogbu and Cllr John McDonagh have collectively called for the Government to provide ‘real action now’.
“In Galway, we see the impact of this failure every day. Homes are left empty while families struggle to find a place to live. The Government’s inaction on vacancy and dereliction is unacceptable. We need real action now to bring vacant properties back into use and deliver affordable housing for people in Galway and across the country,” said Cllr McNelis.
Cllr. Helen Ogbu said “We in Labour have been calling for a comprehensive national survey and mapping exercise to provide an accurate database of vacant and derelict properties. Right now, we don’t even have the full picture.
“We’ve also been calling for the need for a properly resourced national plan to tackle dereliction. Local authorities must be empowered and funded to use Compulsory Purchase Orders (CPOs ) on properties left vacant for over three years. The current system is too slow and under-resourced – we need a streamlined process that delivers results.
Cllr. John Mc Donagh said “Fianna Fáil and Fine Gael have spent years talking about vacancy and dereliction, but the problem has only worsened. It’s time for practical, realistic progress. The Government must provide local authorities with the funding and staff they need to tackle vacancy, fast-track CPOs, and turn empty buildings into homes. We cannot wait any longer.”
Construction and new supply
Despite high vacancy rates, Galway has seen 1,388 new residential address points added in 2024, with 1,126 buildings under construction by the end of the year. However, the pace of new development is still not enough to meet demand.
Nationwide, Dublin had the highest level of new builds, followed by Cork, Kildare, and Meath. However, in smaller counties like Leitrim, only 121 buildings were under construction, highlighting a major imbalance in supply across the country.
Affordability concerns
Galway is facing a housing crisis on multiple fronts. With soaring rents, high house prices, and a vacancy rate well above the national average, the city and county are struggling to provide affordable homes. While buying may seem like the better option financially, the reality is far from straightforward—especially when vacancy and dereliction remain major obstacles.
For first-time buyers, purchasing a home in Galway is often cheaper than renting—at least on paper. In Galway city, the median price for a new home in 2024 stood at €433,738. With a 10 per cent deposit, that translates to monthly mortgage repayments of €1,868, significantly lower than the city’s average rent of €2,189. However, the household income required to buy at this price is €97,591, well above the median household income of €60,326.
In Galway county, housing is slightly more affordable, with a median price of €422,475. This brings mortgage repayments to €1,820 per month—again, higher than the average rent of €1,567. But with an income requirement of €95,057, homeownership remains out of reach for many.
What the future holds
With an average house price of €350,602, Galway remains one of the more expensive places to buy outside Dublin. While rents are high, purchasing a home is not a simple alternative, given the income requirements, a starving market and mortgage constraints. Meanwhile, vacancy and dereliction remain a wasted opportunity in a housing market that desperately needs supply.
Despite the previous Government’s pledges to tackle vacancy and dereliction, these measures have yet to bear fruit in Galway. With a large supply of potential housing sitting idle on one side and a desperate need for accommodation on the other, the calls for ‘stronger policies and faster action’ will grow louder.
Until then, many in Galway will continue to struggle—whether they rent or try to buy.
