Navigating Bratislava's Dynamic Office Landscape

For businesses evaluating their office space needs in Bratislava, the second quarter of 2025 offers crucial insights into a market undergoing significant shifts. According to the latest report from real estate advisory firm CBRE, the demand for high-quality, sustainable office premises is stronger than ever, influencing rental trends and development strategies across the city.

The Shift Towards Sustainable and Modern Offices

A pivotal trend in the Bratislava office market is the clear preference for modern and sustainable buildings. An impressive 82% of all leased spaces in Q2 2025 were within Class A+ and A buildings, underscoring tenants' commitment to energy efficiency, employee well-being, and corporate social responsibility. This move reflects a broader strategic imperative for businesses to occupy spaces that align with contemporary operational standards and sustainability goals.

Bratislava's Office Market: Q2 2025 Snapshot

Lease Activity and Key Players

The second quarter saw re-negotiations dominating leasing activity, accounting for 55% of all transactions. New leases comprised 35%, pre-leases 8%, and expansions 2%. While the total volume of leases reached 36,520 m², a year-on-year decrease of 39%, the net take-up stood at 16,445 m². The public sector was remarkably active, contributing 31% to overall demand, followed by professional services and the IT sector, both at 13%.

Vacancy Rates and Regional Performance

The overall vacancy rate slightly decreased to 12.59% under the original methodology. However, with a new, more realistic methodology, the adjusted vacancy rate stands at 14.41%. Areas like City Center (6.70%) and South Bank (8.32%) boasted the lowest vacancy rates, indicating high demand for prime locations. Conversely, Outer City saw its vacancy rise to 17.65%, suggesting evolving tenant preferences and a potential for new opportunities in these areas.

Understanding the New Market Methodology

Bratislava's office market is now adopting a revised methodology for calculating office supply. This new approach excludes owner-occupied and state-owned buildings, focusing solely on commercially available spaces. This provides a more accurate and transparent picture of the true market offering. Consequently, the total office supply for Q2 2025, originally 2.05 million m², has been revised down to 1.76 million m² after removing approximately 283,000 m² of self-occupied and state-owned properties.

Limited Supply Fuels Rising Rents and Future Development

The year 2025 is marked by historically low new office supply. This limited availability of modern spaces is exerting upward pressure on rental prices. The highest achievable rents in Bratislava have climbed to €20.50/m²/month, representing an 8% increase year-on-year. Despite this constrained supply, several key projects are under construction or planned, offering future growth. Zváračák (4,000 m²) is expected to be completed by the end of 2025. Projects like Dunaj (7,300 m²) and Ganz House (9,400 m²) are slated for completion in 2026. Further additions are anticipated in 2027, including Chalupkova Offices (19,500 m²), Istropolis Atrium (15,500 m²), and the new ZSE headquarters (10,000 m²).

Expert Outlook: A Market Driven by Quality and Sustainability

Oliver Galata, Head of Office Leasing at CBRE, emphasizes the significance of these trends: “The new methodology provides a more realistic view of the market and clearly shows that demand for quality and sustainable spaces remains strong. Despite a slightly higher vacancy rate, the supply of modern offices remains limited, pushing rents upwards.” He concludes, “Bratislava is thus strengthening its position as a dynamic office destination, where the demand for premium spaces, the trend of sustainability, and the stability of key tenant sectors converge.”

Source: kancelarie.sk