The volume of leases in the first quarter of this year was dominated by renewals, which accounted for 63 percent of all transactions. Net leasing activity reached 23,402 m2. The highest volume of transactions was recorded in the CBD submarket, where transactions were concluded in the volume of 36,721 m2.
The consumer goods sector dominated with the largest share of leased space, occupying 30 percent of the leased space. It was followed by the financial sector with 22 percent and the IT sector with 18 percent of the space. The results of the analysis according to CBRE also confirmed the high demand for quality office space, with 85 percent of leases related to buildings in the A and A+ standard.
At the end of the first quarter, the overall vacancy rate increased slightly to 12.63 percent, indicating stable demand in the market. According to CBRE, construction activity in the Bratislava office market is currently low, with three projects under construction. One of them is due to be completed by the end of this year, while the other two are expected to be completed in 2026.
“Given the limited new construction, 2025 will be the weakest year in terms of new deliveries to the market on record. A certain increase in completed projects is expected in 2026, but volumes will likely remain below the historical average,” assessed Peter Slovák from CBRE Slovakia.
Despite the relatively high vacancy rate, according to the real estate consultancy, the supply of modern, quality offices remains limited, which is pushing up premium rents. They currently reach EUR 20/m2, which represents an 8 percent year-on-year increase. “The ongoing demand for premium space, together with the limited supply, will support further price growth in the near future,” said Oliver Galata, Director of Office Leases at CBRE Slovakia.
