The third quarter of 2025 confirmed a continued decline in demand in the Slovak industrial property market. Total leasing activity amounted to 64,365 sqm, with net take-up representing 50,615 sqm. The vacancy rate rose to 7.72%, the highest level in recent years, according to the latest quarterly report from 108 Real Estate.
The total stock of A-class space reached 4.67 million sqm, with 28,000 sqm of new construction completed in Q3/2025. Average rents for space range from €4.63-5.22 per sqm per month, with prime rent at €5.40 per sqm. Currently, 311,365 sqm is under construction, with almost half being speculative development.
Demand continues to be dominated by producers (69.7%) and distributors (30.3%). Activity remains concentrated in Western Slovakia, especially in the Trnava (21,547 sqm) and Senec (17,891 sqm) areas, which together hold a majority market share of vacant space.
"In the third quarter, leasing activity continued to decline compared to previous years. Weak demand is forcing landlords in the most active locations, particularly in Trnava and Senec, to offer incentives and reduce rents," said Alexandra Pussová, Sales & Data Support Specialist at 108 Real Estate. "We expect tenant-friendly market conditions to persist and vacancy to increase further in the next quarter."
The ongoing speculative development trend is expected to increase vacancy in the coming months and strengthen tenants' negotiating position, despite Slovakia's strategic location, quality infrastructure, and diversified energy mix.
