2024/Q4 INDUSTRIAL PROPERTY MARKET REPORT - SLOVAK REPUBLIC

"The industrial market in 2024 experienced a decline of 12% compared to 2023, but the take-up was not as weak as initially anticipated, with total leasing activity nearing 580,000 square meters. As we look ahead, we remain cautious in our forecasts, as the market faces several challenges that will impact its future direction. Economic uncertainty, the potential introduction of a transaction tax, tariffs, and the ongoing situation in Ukraine are expected to play a critical role in influencing decisions by both investors and prospective tenants." - Dominika Ukropcová, Research & Data Analyst.

The total area of ​​premium industrial premises for lease reached 4,402,738 sq m at the end of the fourth quarter.

28,600 sq m of new industrial premises was delivered to the market.

At the end of the 4th quarter, 345,159 sq m of industrial premises was under construction.

The vacancy rate increased from 4.77 % in Q3/24 to 5.45 % in Q4/24, which represents 240,373 sq m.

Gross demand, including the extension of existing contracts, reached 184,099 sq m, while net take-up was 154,959 sq m.