The Vydrica quarter project in Bratislava has reached a key milestone with its first office building, Vydrica Offices, receiving use approval. This prime Danube waterfront location now offers premium office space ready for occupancy.
A new methodology for monitoring the office market in Bratislava came into effect in the first quarter of 2025, fundamentally changing the way the total supply is calculated. Buildings used exclusively by owners were excluded from the market, which brought a more realistic view of the availability of space for tenants and investors. The result is a lower official volume of office space, a higher vacancy rate, but at the same time a more accurate picture of the market.
The office space market in Central and Eastern Europe is being affected by various factors, including changing working habits due to hybrid working, as well as geopolitical challenges. Cities such as Warsaw, Budapest and Prague are becoming centers of demand for modern office space, which must meet high standards of sustainability and flexibility. Given the growing demand for smart and flexible spaces, investors are focusing on renovating older buildings and constructing new ones that match the trends of hybrid working.
The beginning of 2025 brought growth to the construction industry in Slovakia, which was the highest since April 2024. January construction production reached 436.1 million euros, which represents a year-on-year increase of seven point two tenths of a percent. This growth was mainly due to dynamic growth abroad, while the domestic sector grew only slightly. However, experts expect a turnaround no later than mid-year.
The Slovak real estate market struggled with high interest rates and investor uncertainty in 2024, leading to a 19 percent year-on-year decline in investment. However, some sectors showed resilience – retail and residential real estate saw growth. 2025 should bring a revival in investment activity, mainly due to falling interest rates and growing interest in larger transactions.
The new Construction Act, which will enter into force on 1 April 2025, brings with it a number of significant changes that should significantly affect construction and construction procedures in Slovakia. The new Construction Act has a positive impact on the efficiency of construction processes, promises a significant reduction in the administrative burden and should strengthen the professionalization of the state construction administration. Are brighter times ahead?
The third annual Green Roof of the Year 2024 competition, organized by the International Climate Adaptation Research Institute, brought awards for the best green roofs in Slovakia. The winners of various categories were announced at the international conference in Bratislava, including two-time winners Matej Erd from industrial stavieb.sk and Richard Masár from Landart in the categories "Public Green Roof 2024" and "Green Roof 2024 - Innovations".
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