Sunday, 7 December 2025
Bratislava’s office market shows stable rents and limited new supply in Q3 2025, while vacancy remains elevated and leasing activity concentrates in top-quality buildings, according to the latest market research from leading advisory firms.
The Slovak capital’s modern office stock stands at roughly 1.76 million m², reflecting only minimal growth this year. Developers have delivered very little new space in 2025, and no significant completions were recorded in the third quarter. This lack of new projects is reinforcing competition for higher-quality offices, particularly in established business districts.
Market analysts note that vacancy remains high, slightly above 14%, but the situation differs sharply across building categories. Tenants continue to prefer newer, energy-efficient and well-located workplaces, leaving older buildings with disproportionately higher availability. As a result, owners of refurbished or recently built offices report stronger occupancy and more stable demand.
Prime headline rents in the city have held steady at around €20.50 per square metre per month, reflecting continued interest in the most attractive properties and the absence of speculative construction. Incentives remain part of negotiations, but the underlying rent level has not shifted for several quarters.
Leasing activity in the third quarter reached close to 25,000 m², with new leases accounting for about half of that volume. Expansions and relocations were driven largely by IT, shared-services companies and professional services. Analysts suggest that, despite slow decision-making among some occupiers, companies continue to seek upgrades rather than downsizing.
Supply conditions are expected to remain tight in 2026. Only a small amount of new space is currently under construction, and several planned projects have been postponed amid rising construction costs and cautious financing conditions. This could gradually ease vacancy in better-located buildings, while older stock may continue to face structural challenges.
On the investment side, Slovakia registered a moderate level of commercial property transactions this year, with offices representing a smaller share of total activity. Prime office yields remain in the mid-6% range, with investors still selective and focused on quality, stable occupancy and strong ESG credentials.
Overall, the Bratislava office market in Q3 2025 reflects a divided landscape: modern offices continue to attract tenants and maintain solid pricing, while secondary buildings struggle with weaker occupancy and limited prospects for improvement without significant refurbishment.
Source: C&W, Colliers, CBRE and CIJ EUROPE Analysis Team
