Gross take-up on Slovakia’s industrial market reached 32,063 sqm in the second quarter of the year, less than Q1 but double what it was during the same period last year, according to figures released by Cushman & Wakefield.
“The industrial market in Slovakia is not copying the significant growth on the demand side that we see in Central Europe especially in Czech Republic or in Poland,” the company wrote in a statement. However, “we expect that take-up will improve together with increased construction activity on the market in the upcoming quarters. Logistics companies and retail sector companies were the most active in terms of leased space in the last quarter.”
While the sector did not see any completed projects in Q2, new developments, part of which are being built on a speculative basis, are underway and could be delivered by the end of the year. The sector’s vacancy rate is currently at 4.1 percent.
