Total take-up on the Bratislava office market reached 84,000 sqm in Q4 2017, having tripled compared to the previous quarter. The vacancy rate continued to decline and reached 6.18%. The Bratislava Research Forum published its office market statistics for Q4 2017.
In the fourth quarter of 2017, the total office stock of Class A and B quality buildings in Bratislava amounted to more than 1.72 million square meters. 59% of the space is represented by Class A office space and 41% by Class B office space
In the fourth quarter of 2017 one new modern office building, Stein 2 Office (9,500 sqm), located on the border of the city centre, was added to the total stock.
Within the total stock, 28 buildings representing approx. 537,000 sqm or approx. 31% of the total stock have secured certification as green/sustainable developments – either LEED or BREEAM ratings.
Transactions that have been concluded in the fourth quarter of 2017 represent a total amount of 84,419 sqm, which represents a 214% increase when compared to the previous quarter. New leases represented 42% of all transactions, renegotiations represented 50% and 8% were attributed to expansions.
In Q4 2017 the biggest leasing transaction (new lease) recorded amounted to 6,800 sqm. In addition, BRF monitored 19 other transactions over 1,000 sqm. In the fourth quarter of 2017 the majority of transactions was signed in the sector of Other Services (23%), followed by IT sector (21%).
The overall vacancy rate in the fourth quarter in Bratislava has slightly decreased to 6.18 % from 6.41 % in the previous quarter. The lowest vacancy rates were recorded in Bratislava IV (3.65%), followed by Bratislava V (5.12%), Bratislava I (6.04%) and Bratislava II (6.48%). The highest vacancy rate was recorded in Bratislava III, which reached the level of 7.70%.
The members of the Bratislava Research Forum (BRF) – Cushman and Wakefield, CBRE, Colliers International and JLL share non-sensitive information with the aim of providing clients and public with consistent, accurate and transparent data about the Bratislava office market.
