The Slovak retail market is maintaining stability

• Prime rent in shopping centres and retail parks remained stable – €70/m²/month in shopping centres and €16/m²/month in retail parks.
• Investment yields of retail parks decreased year-on-year to 6.75%, while they remained stable for shopping centres at 6.50%.
• In the third quarter, one retail park – OPC Revúca – was added, with an area of approximately 6,000 m².
• Approximately 80,000 m² of retail space is under construction across 14 projects, with the majority located in central Slovakia.
• Inflation remained at 4.3% in September, indicating easing inflationary pressures.

Even though consumer behaviour remains cautious, the Slovak retail market maintains stable performance. New projects continue to head outside the capital and are focusing on regional centers. This is according to the current analysis from the global real estate advisory company CBRE.

In the observed sample of shopping centres, tenant turnover increased by 2% in the third quarter, while footfall decreased by 1%. While consumers are still cautious, their activity remains stable.

Retail parks dominate new construction

In the third quarter, the OPC Revúca retail park was added to the Slovak market, which expanded the offer of modern shopping opportunities by 6,000 m² of leasable area. This quarter also confirmed the trend that retail parks remain the most attractive construction format for developers.

Tomáš Lörincz Head of Leasing Retail, CBRE Slovakia

"Currently, we are recording around 80,000 m² of new retail spaces under construction, which are distributed across 14 projects. These are retail parks, primarily located in the regions of central Slovakia – in Žilina, Námestovo, Detva, Žiar nad Hronom, Poltár, and Hnúšťa. A second wave of construction is taking place in western Slovakia, in cities like Vráble, Piešťany, and Nitra."