Vacancy levels fell 81 basis points in Bratislava during the second quarter of 2015 to 11.78 percent thanks primarily to the expansion of existing tenants. According to CBRE, the lowest levels of unoccupied space (9.1 percent) are to be found in the city’s central areas, while the inner city tops the charts with 13.3 percent vacancy. Another factor in the indicator’s improvement was that no new office space was added to Bratislava’s current stock of 1.54 million square meters of modern office stock.
In all, there was 43,455 sqm of leasing activity in QII, a rise of 29.5 percent from Q1 2015. A full 69 percent of new leases, which include preleases, subleases and expansions, led this activity. The remainer was attrictued to renegotiations. Prime rents for premium space in Bratislava are at €16 per sqm per month. Yields for prime office space remain at 7 percent but CBRE expects this to fall as a recovery in the investment sector in Slovakia is expected to make itself felt soon.
