2024/Q3 INDUSTRIAL PROPERTY MARKET REPORT - SLOVAK REPUBLIC

"The industrial real estate market has experienced a notable slowdown this year, with total leasing activity reaching 394,772 sq m by Q3/2024—a 30% year-over-year decline compared to the same period in 2023. Alongside available vacant spaces, a significant portion of vacancy now consists of sublease opportunities, as many 3PL providers actively seek subtenants to occupy their spaces. This shift highlights the cooling demand across the sector, with companies focusing more on renegotiating existing leases rather than pursuing expansion. Speculative construction continues, yet filling available space remains a challenge." - Dominika Ukropcová, Research & Data Analys

The total area of ​​premium industrial premises for lease reached 4,392,394 sq m at the end of the thith quarter.

108,093 sq m of new industrial premises was delivered to the market.

At the end of the 3th quarter, 237,285 sq m of industrial premises was under construction.

The vacancy rate decreased from 5.72 % in Q2/24 to 4.77 % in Q3/24, which represents 209,431 sq m.

Gross demand, including the extension of existing contracts, reached 164,896 sq m, while net take-up was 130,565 sq m.