Bratislava Research Forum Announces Office Market Figures for Q4 2018

Introduction
The Bratislava Research Forum is pleased to announce Office Market figures for Q4 2018.

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. 

The market is classified into city centre, inner city and outer city as outlined in the plan below to allow a simplified analysis. In addition, data is collected also according to Bratislava districts.

Office Supply/Stock
In the fourth quarter of 2018, the total office stock of A and B Grade quality in Bratislava amounts almost 1.8 million square meters. 61% of the space is represented by A-class office space and 39% by B-Class office space.

In the fourth quarter of 2018 were completed two office buildings, Twin City Tower and Landererova 12 of the total size of almost 54 000 sq m. We are expecting delivery of project Pressburg Tower in the first quarter 2019. The total size of this project is over 16 000 sq m. 


Green Certified Buildings
Within this total stock 32 buildings representing approx. 621.000 sq m or approx 35% of the total stock have secured certification as green/sustainable developments – either LEED or BREEAM ratings. 


Transactions on the Office space market (Office Take-up)
Transactions that have been concluded in the fourth quarter of 2018 represent a total amount of more than 71 000 sq m, which represents a 154% increase compared to the previous quarter. New leases represented 19% of all transactions, renegotiations represented 56%, pre-leases represented 8% and share of 17% was attributed to expansions.
In Q4 2018 the biggest leasing transaction (renegotiation) recorded amounted to 10 147 sq m. In addition, we monitored fourteen other transactions over 1.000 sq m.
In the fourth quarter of 2018 the majority of transactions was signed in the sector IT (33%), followed by Financial/Banking/Insurance sector (23%).

Office Vacancy
The overall vacancy rate in the third quarter for Bratislava has increased to 5.99 % from 5,14% in the previous quarter. The lowest vacancy rates recorded were in Bratislava III (2.23%), followed by Bratislava I (4.88%), Bratislava II (6.82%) and Bratislava V (8.48%). The highest vacancy rate was recorded in Bratislava IV - 11.63%.


Prime Rent
The Prime Rent remained unchanged at 17.00 EUR/sq m/month.