2023/Q1 INDUSTRIAL PROPERTY MARKET REPORT – SLOVAK REPUBLIC
Since the end of last year, we have been observing an increase in rents in all regions of Slovakia. Currently average price reaches 4.90 euros per square meter. In popular logistics hubs or major cities like Bratislava, Kosice or Zilina, warehouse lease rents tent to be higher due to higher demand and better infrastructure. However, according to economic indicators, we do not expect further significant price increase in the future.
- The total area of premium industrial premises for lease reached 3,773,017 m2 at the end of March.
- 85,784 m2 of new industrial premises was delivered to the market, 33% in the Bratislava Region.
- At the end of the 1st quarter, 215,861 m2 of industrial premises was under construction.
- The vacancy rate slightly increased from 4.85% in Q4/22 to 4.96% in Q1/23, which represents 187,018 m2.
- Considering the negative expectations at the end of 2022, both gross and net demand showed good results. Expectations were primarily based on rising prices, the energy crisis, etc. Gross demand, including the extension of existing contracts, reached 116,400 m2, while net take-up was 75,600 m2.