The Slovak office market had a strong second quarter with activity for the first six months already surpassing last year’s annual total, according to a recent report released by Cushman & Wakefield. The take-up volume reached 75,000 sqm thanks to three large transactions by CSOB, Johnson Controls and IBM). This figure includes two major deals within the shared services centre sector, indicating a continued confidence in Slovakia as a strategic location for business process outsourcing. Furthermore, activity in Q2 was driven by leases in new office spaces, predominantly in future schemes via prelets or owner occupier deals. While no additional supply came onto market last quarter, a number of new developments broke ground, bringing the total space under construction in Q2 to more than 110,000 sqm, the highest level in five years.
