The Bratislava office market enters the second half of 2025 with a new methodology for calculating the supply of office space, which now does not include owner-occupied buildings, including state buildings. It focuses exclusively on commercially available spaces, thus bringing a more faithful picture of the real offer. This is according to the latest report by the real estate consulting company CBRE.
According to the original methodology, the total volume of office space in the 2nd quarter of 2025 reached 2.05 million m². After excluding almost 283,000 m² of own and state buildings, the revised offer was reduced to 1.76 million m².
The key trend remains the transfer of tenants to more modern and sustainable buildings. The overall vacancy rate decreased slightly to 12.59% (-4 basis points quarter-on-quarter). The lowest vacancy rate is achieved by City Center (6.70%), followed by South Bank (8.32%). Outer City, on the other hand, saw an increase to 17.65%, indicating changing tenant preferences. According to the new methodology, the total adjusted vacancy rate is 14.41%.
Development activity is limited, although several projects are currently under construction. One of the key upcoming projects is the Welder (4,000 m²), which should be completed by the end of 2025. The Danube (7,300 m²) and Ganz House (9,400 m²) projects will be completed in 2026. In 2027, further additions of office space are expected, including Chalupkova Offices (19,500 m²), Istropolis Atrium (15,500 m²) and the new ZSE headquarters (10,000 m²).
The total volume of leases reached 36,520 m² in the 2nd quarter, which is a year-on-year decrease of 39%. Net take-up activity was 16,445 m², with the largest transaction, a 9,240 m² lease renegotiation, taking place in the Outer City and being heavily impacted by the public sector.
Renegotiations accounted for 55% of leases, new leases 35%, pre-leases 8% and expansions 2%. The public sector was the most active (31%), followed by professional services (13%) and the IT sector (13%). Up to 82% of leased space was in A+ and A-class buildings.
The supply of new offices will remain historically low in 2025. The limited availability of modern space puts upward pressure on prices, the highest achievable rents are at €20.50/m²/month, which is a year-on-year increase of 8%.
"The new methodology provides a more realistic picture of the market and clearly shows that the demand for quality and sustainable space remains strong. Despite a slightly higher vacancy rate, the supply of modern offices remains limited, which is pushing rents up."
"Bratislava is thus consolidating its position as a dynamic office destination, where the demand for premium space, the trend of sustainability and the stability of key tenant sectors are combined," concludes Galata, CBRE.
