In terms of the ownership structure, similarly to the previous quarter, approximately 4% of the office stock is state-owned, almost 12% are buildings owned and fully occupied by the same entity, and the total stock for commercial use remains at 84% (or around 1.7 million sqm) of total modern office stock in Bratislava.

Green certified buildings

In total, Bratislava offers almost 723,302 sqm of office space with a valid green/sustainable building certificate. This is 36% of the total volume of office space in Bratislava. Currently, 40 out of 274 buildings meet the criteria. 60% of the certified stock has BREEAM, 2.5% combination of BREEAM / WELL GOLD and 37.5% LEED certificate. Only two buildings in Bratislava have the highest BREEAM Outstanding rating - Twin City Tower and Pradiareň 1900. In the case of LEED Platinum, it is Ein Park Offices.

Office market transactions

Leasing transactions reached an area of 51,684 sqm in the second quarter of 2023, which represents a 14% increase compared to the previous quarter. However, in a year-on-year comparison, the volume of leased space increased by 85%. The largest portion was made up of renegotiations, in a volume of 45%, and pre-leases, in a volume of 27%. New leases represented 21% and expansions were at the level of 7%. Take-up was dominated by transactions in the IT sector with a size of 14,783 sqm. The largest transaction was in the public sector with an amount of 10,000 sqm. A total of 12 transactions were recorded with an area of over 1,000 sqm. Most of the leased space this quarter was leased within the IT (28.6%), public sector (23.61%) and pharma sector (12.73%).

Office vacancy

The overall vacancy rate in Bratislava decreased compared to the previous quarter to 11.60%. The lowest vacancy rate was recorded in the South Bank (6.28%), followed by the City Centre submarket (8.36%), Inner City (9.24%), CBD (13.73%), and Outer City, recording the highest vacancy rate 15,32%.

Prime rent

Prime rent hasn’t changed and remains at a level of €17,50/sqm/month.