Retail
Woolworth and Hebe are entering the Slovak market. Both companies plan to open new stores in the second half of the year. In the next five years, the construction of over 130,000 square meters of retail space is planned. The growing importance and improving performance of retail parks, combined with indexation, have led to a further increase in prime rent to €11.50 per square meter. Conversely, prime rents for shopping centres have remained stable. Investment activity has revived.
Office
Gross take-up saw a quarter-on-quarter increase of 29% and a year-on-year increase of 15%, with an even distribution across sectors. The leading sectors in terms of take-up included the public sector with 36%, followed by IT with 17% and professional services with 15%. Vacancy rates have decreased once again, reaching 13.23%. This is due to increased demand and a decrease in new supply. This trend is likely to continue, with vacancy rates potentially reaching 12% by the end of the year.
Industrial
While there has been a significant increase in new industrial property supply, the overall volume of transactions has decreased by almost 30% compared to 2023. We've seen a nearly threefold increase in new property supply compared to the same period last year. Despite the rise in vacancy rates, demand for industrial space in Slovakia remains high. Rents have increased by 7% over the past year, currently reaching €5.15 per square meter.
Get the full Slovakia property market picture with all the market data by downloading the reports.