According to a new analysis by the global real estate consulting company CBRE, office buildings that meet the so-called ESG standards (social responsibility and environmental sustainability), higher average rental prices than non-certified buildings. These are not only new, but also existing buildings. According to experts from CBRE, this trend is also supported by the challenge of the European Green Deal program, which aims to achieve carbon neutrality by 2050.

"Certified office buildings and premises show a higher occupancy rate than non-certified ones. New legislation, increasing operating costs and increasingly higher demands are evidence that the principles of sustainability need to be paid close attention to in the commercial real estate sector as well. ESG principles will be an important factor in the decision-making of companies, as it will become a significant indicator of the quality of the building in terms of the amount of rent, operating costs or the attractiveness of the premises. Especially for companies that emphasize their reputation, their goal is environmental protection, but also increased comfort and productivity of employees," explains Silvia Bassadin, director of the ESG and sustainability department, CBRE Slovakia. He also adds that this trend is driven by government regulation of states that have begun to record not only financial, but also non-financial activities of companies.


CBRE has been analyzing the situation in 18 markets for a long time, including Slovakia. The results of the analyzes show that the share of certified office real estate in all these markets reached the level of 20%, while in 2019 it was 14%. Therefore, companies sign contracts in certified buildings more and more often. "On the other hand, when comparing individual European locations, we also noticed noticeable differences. The share of certified buildings in local markets ranges from 5% (e.g. Aarthus, Malmö and Rome) to more than 40%. Bratislava, Amsterdam, Bucharest, Budapest, Prague and Warsaw are also at the top of the ranking," reveals Silvia Bassadin, Director of the ESG and Sustainability Department, CBRE Slovakia. She also specified that in our capital, this ratio is as high as 45%.

The sustainability trend has been visible in Bratislava for the past four years. The share of net leased space (total rental activity without renegotiation) in this period was approximately 65%, while this share increased compared to last year. According to CBRE, in the first half of 2022, the share of net leased area was more than 60%. At the same time, according to experts, a huge difference is also present in this direction. For example, in Copenhagen or Berlin, this share is only at the level of 5%.

The fact that this trend is also beneficial for the economy of the states is also positive. "Our analysis clearly shows a significant correlation between sustainability certificates and the market value of buildings. So the economic stimulus itself is also noticeable," adds Dragana Marina, director of the sustainability research department, CEE CBRE.


The sustainability trend is therefore significant and experts agree that the commercial real estate market is increasingly thinking about environmental protection in its strategies and realizing that sustainable buildings play a key role in our transition to a low-carbon economy. However, it is also a fact that many European markets have still not reached the necessary level to obtain sustainability certificates. CBRE justifies this fact with two key factors. In addition to the time frame, it is the individual dynamics of the given market, but also legislative frameworks and government regulation.