Vacancy

Vacancy refers to a property, office, or retail space that is not rented out or actively used during a specific period. This typically occurs between tenants, following business closure, or when local market demand is insufficient to attract occupiers.

For owners and investors, vacancy represents ongoing costs without offsetting rental returns—property taxes, maintenance, insurance and utilities continue regardless. Extended vacancy periods increase the risk of physical deterioration and declining asset value. Market analysts track vacancy rates as a key indicator of commercial real estate health and locational competitiveness.