2024/Q1 INDUSTRIAL PROPERTY MARKET REPORT - SLOVAK REPUBLIC

Rising Sublease Opportunities in Slovakia's Industrial Space Market

"Despite the decreasing vacancy of industrial spaces, which currently stands at 153,926 sqm, we observed an increase in spaces offered for sublease in Q1/24, amounting to nearly 100,000 sqm. The increased supply of sublease spaces may be the result of optimizing operational costs and adapting to changing market conditions. This development significantly impacts the real estate market by increasing the availability of spaces for other potential tenants.“ Dominika Ukropcová, Research & Data Analys

The total area of ​​premium industrial premises for lease reached 4,171,474 sq m at the end of the first quarter.

91,585 sq m of new industrial premises was delivered to the market.

At the end of the 4th quarter, 262,405 sq m of industrial premises was under construction.

The vacancy rate decreased from 4.65 % in Q4/23 to 3.76 % in Q1/24, which represents 153,926 sq m.

Gross demand, including the extension of existing contracts, reached 113,611 sq m, while net take-up was 69,689 sq m

2024/Q1 INDUSTRIAL PROPERTY MARKET REPORT - SLOVAK REPUBLIC

Rising Sublease Opportunities in Slovakia's Industrial Space Market