Industrial
The industrial market recorded its strongest quarter in more than 15 years, with gross take-up reaching 301,800 sq m in Q4 and full-year activity returning to the long-term average. Renegotiations accounted for a significant share of demand (51% in 2025), while elevated vacancy (7.4%) continued to support favorable conditions for occupiers. Prime rents remained stable at €5.40 per sq m, while prime yields held at 6.00%, with total industrial investment activity exceeding €460 million.
Office
The Bratislava office market achieved a record-high leasing volume in 2025, with gross take-up exceeding 270,000 sq m, largely driven by renegotiations. Demand remained strongly focused on modern Class A and A+ buildings, which accounted for 77% of net take-up, while new supply stayed very limited. The vacancy rate reached 14.09%, and continued supply constraints pushed prime rents up to €21.00 per sq m, with further rental growth expected in 2026.
Retail
Retail parks were the main growth driver in 2025, marking the strongest year on record for this format, with nearly 60,000 sq m delivered in Q4 alone. Overall retail demand, however, remained constrained by weaker household spending amid elevated inflation and a higher tax burden. Prime rents stabilized at €100 per sq m in shopping centers and €15 per sq m in retail parks, the latter expected to see further growth in 2026. Strong investor confidence was underlined by several major transactions, including the sale of Bory Mall.
Residential
The Bratislava new-build residential market continued its recovery, with 818 apartments sold in Q4 and total annual sales reaching nearly 2,800 units, the highest level since 2021. Supply remained stable at around 3,700 units, while the average asking price increased to €5,600 per sq m, with demand continuing to favor smaller apartments. Market activity has been supported by declining mortgage rates and improved financing conditions, with quarterly sales expected to stabilize at 600–800 units in 2026.
Investment
Investment activity in Slovakia rebounded strongly in 2025, with total transaction volumes reaching €1.07 billion, the second-highest result in the market’s history. Industrial (43%) and retail (40%) assets dominated investment volumes, with the sale of Bory Mall representing the single largest transaction of the year. Prime yields remained stable across sectors (industrial 6.00%, offices 6.25%, retail 6.50%), confirming sustained interest from both domestic and international investors despite muted economic growth.
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