Slovakia's industrial property market entered 2026 with subdued demand and rising vacancy rates, according to the latest Industrial Research Forum report.
Total modern industrial space reached 4.86 million sqm, with an additional 76,400 sqm in shell & core condition bringing the total to 4.94 million sqm. New supply added 105,200 sqm across eight buildings in Q1, led by a 44,800 sqm facility at CTPark Trnava North and a 26,500 sqm building at Ctpark Košice II.
"Tenants, particularly from automotive and logistics sectors, are approaching decisions pragmatically, prioritising efficient operations, good labour availability and flexibility in lease terms. The market is still dominated by work with existing clients, with negotiations often focusing on detailed cost analysis and optimisation of leased space," said Tomáš Kulacs, Head of Industrial Agency at 108 Real Estate.
Total demand fell 57% quarter-on-quarter to 128,800 sqm across 18 transactions. Net demand, excluding renegotiations, reached 56,700 sqm. Renegotiations accounted for 56% of total demand at 72,000 sqm. The largest transactions included Schnellecke Slovakia's renegotiation of over 27,000 sqm across multiple buildings at CTPark Bratislava and Alza's new 23,000 sqm lease at Mountpark Bratislava.
Vacancy rates increased to 7.72%, up 0.32 percentage points from the previous quarter, representing one of the highest levels in recent years. Including shell & core spaces, the alternative vacancy rate reached 8.71%. Prime rents decreased to €5.30 per sqm monthly, with office rents within industrial buildings maintaining €9.00-11.00 per sqm monthly.
