Demand for office space in Bratislava is surging

2010-09-02

The demand for office space in Bratislava in the second quarter of 2010 exceeded 46,600 m², double the demand in the same period of last year, according to data from CB Richard Ellis (CBRE). The demand for office space is thus approaching 2007 and 2008 levels.
In Q2 2010, more than 50 lease transactions were concluded, up from 29 inked in the same period last year. More than half of the total leased office space in Bratislava in Q2 2010 was in the city centre. J&T Real Estate’s project River Park accounted for much of that space. River Park, with 29,000 m², was the sole office project finalised in Q2 2010.
The increasing demand for office space in Q2 2010 led to a lower vacancy rate in this segment in Bratislava. At the end of Q2 2010, the vacancy rate was 13.6% of a total stock of office space of 1.37 million m². Due to still weak developments of the new office space in Bratislava, the vacancy rate in the city’s office market is expected by CBRE to further decline this year.