Slovakia has experienced an automotive boom in the last decade. In addition to the anticipated arrival of the largest Swedish player in the eastern metropolis, competitors have also decided to expand their spaces, focusing not only on acquiring logistics halls but also on leasing them.
What did the volume of leased spaces look like in the first quarter of this year, which parts of Slovakia are experiencing the greatest interest from new tenants, and by how many square meters will the market for industrial and logistics properties expand this year? You can read about this in the latest report "Slovak Industrial & Logistics Figures Q1 2025."
In the first quarter, total leasing activity in industrial and logistics spaces reached nearly 90,000 square meters, with net leasing activity amounting to over 43,000 square meters. Compared to the previous year, this represents a 17% decrease, yet overall leasing activity remained stable compared to Q1.
"The largest share of leased spaces was made up of lease renegotiations, which accounted for 44%. Following them were new leases of existing spaces with a volume of 38%. Short-term leases represented 8% of the total volume, while pre-leases and expansions accounted for 7% and 3%,"
The Bratislava region dominated in terms of leased areas, capturing up to 44% of the total volume. This was followed by Central Slovakia, which accounted for 27%, and Eastern Slovakia with 17%. The lowest activity was recorded in Western Slovakia.
This time, the leader in leasing was the automotive sector, representing 28% of total leasing activity. Retail and logistics followed closely with 17%, while e-commerce and 3PL sectors made up 13%, and the pharmaceutical sector accounted for 8%. The remaining 4% went to the manufacturing sector.
The vacancy rate increased year-on-year by 30 basis points to 5.48%, remaining above five percent since the end of 2024. Central Slovakia recorded the highest vacancy rate at 7.00%. The Bratislava region followed with a vacancy rate of 5.96%, and Western Slovakia with 5.09%. Eastern Slovakia reported the lowest vacancy rate at 2.86%.
Premium rents increased year-on-year by 1% to €5.80 per square meter per month, while average rents slightly decreased to €4.75 per square meter.
"In Q1, 50,000 square meters of new space were delivered to the market. The outlook for the future is also positive, with an expected arrival of another 280,000 square meters to be completed this year. 60% of this volume is already pre-leased, confirming that most current new construction begins only after securing a future tenant," added Michal Cerulík, Head of Industrial & Logistics Sector at CBRE Slovakia.
