"Slovakia Real Estate Report Q3 2014" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Mon Jul 07 2014

We forecast that an improved economic performance in 2014 will underpin increased activity, in terms of both supply and demand, in Slovakia's commercial real estate market in 2014. Despite lower economic growth than in 2012, the Slovakian economy still increased by 0.6% in 2013. In 2014 , economic growth is expected to increase by 2 .4 % , accelerating to 3.0% in 2015 .

Across the retail, office and industrial real estate markets, BMI predicts rents to remain at 2013 levels moving into 2014. High volumes of new supply will act as a counterweight to potential rental increases fuelled by increases in demand in some sectors.

In the retail sector, Slovakia currently has roughly 1.54mn square metres (sq m) of retail space, of which over a third is situated in the capital, Bratislava. With the exception of the opening of Slovakia's first designer outlet centre in October 2013, there was very little activity in the retail real estate market over 2013 as a whole. However, on the back of the 'one fashion outlet' centre towards the end of 2013, BMI predicts increased activity in 2014, particularly regarding a higher volume of new retail supply, as higher wages and improving consumer confidence feed through into stronger household consumption.

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Like the retail sector, rents in the office sector will remain stable moving into 2014. With vacancy rates of 12% in Bratislava, amounting to 1.5mn sq m of space, and several new large-scale completions expected in 2014 - including the Westland Gate complex (35,000 sq m) - supply will significantly exceed demand in the market.

Despite record numbers of leased warehouse space in Bratislava in the first half of 2013, increased speculative developments in the industrial real estate markets should create a favourable environment for tenants by ensuring that rents remain stable. Over the course of 2013, industrial vacancy rates rose; increasing from 4.53% in Q212 to 6.30% in Q313. Nonetheless, demand for industrial space in...

The Slovakia Real Estate Report features Business Monitor International (BMI)'s market assessment and independent forecasts of major construction projects in the residential and commercial markets, plus rental prices and yields in major cities. The report critically analyses the prospects for real estate within the broader economic and financial context - both domestic and global - via our econometrically-modelled and clearly explained banking and economic forecasts and follows this through to evaluate the implications for REITs.

BMI's Slovakia Real Estate Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the real estate industry in Slovakia.

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