Slovakia Real Estate Report Q3 2014

  • June 2014
  • -
  • Business Monitor International
  • -
  • 60 pages

Includes 3 FREE quarterly updates

BMI View: We forecast that an improved economic performance in 2014 will underpin increased activity, in terms of both supply and demand, in Slovakia's commercial real estate market in 2014. Despite lower economic growth than in 2012, the Slovakian economy still increased by 0.6% in 2013. In 2014, economic growth is expected to increase by 2.4%, accelerating to 3.0% in 2015. Across the retail, office and industrial real estate markets, BMI predicts rents to remain at 2013 levels moving into 2014. High volumes of new supply will act as a counterweight to potential rental increases fuelled by increases in demand in some sectors.
In the retail sector, Slovakia currently has roughly 1.54mn square metres (sq m) of retail space, of which over a third is situated in the capital, Bratislava. With the exception of the opening of Slovakia's first designer outlet centre in October 2013, there was very little activity in the retail real estate market over 2013 as a whole. However, on the back of the 'one fashion outlet' centre towards the end of 2013, BMI predicts increased activity in 2014, particularly regarding a higher volume of new retail supply, as higher wages and improving consumer confidence feed through into stronger household consumption.

Table Of Contents

Slovakia Real Estate Report Q3 2014
BMI Industry View ...... 7
Recent Developments . 8
Key BMI Forecasts .... 8
SWOT ..... 9
Political .... 10
Economic .. 11
Business Environment 12
Industry Forecast ..... 13
Office ...... 14
Table: Forecast Rents, 2014-2015 (EUR/sq m/month) 14
Table: Net Yield, 2010-2018 (%) . . 15
Retail ...... 15
Table: Forecast Rents, 2014-2015 (EUR/sq m/month) 16
Table: Net Yield, 2010-2018 (%) . . 16
Industrial . 16
Table: Forecast Rents, 2014-2015 (EUR/sq m/month) 17
Table: Net Yield, 2010-2017 (%) . . 17
Construction And Infrastructure Forecast Scenario .... 18
Table: Slovakia Construction And Infrastructure Industry Data, 2012-2017 . 18
Table: Slovakia Construction And Infrastructure Long Term Forecasts, 2018-2023 . . 19
Macroeconomic Forecasts .... 24
Table: Slovakia - GDP By Expenditure . . 28
Industry Risk Reward Ratings ...... 29
Central And Eastern Europe - Risk/Reward Ratings ... 29
Table: Central And Eastern Europe Real Estate Risk/Reward Ratings . . 29
Slovakia - Risk/Reward Ratings .. 30
Rewards . 30
Risks ..... 30
Market Overview ...... 32
Office 33
Supply and Demand . 33
Rents and Yields ..... 33
Table: Historic Rents - 2012-2014 (EUR/sq m/month) 34
Table: Net Yield, 2011-2012 (%) . . 34
Table: Terms Of Rental Contract/Lease - H213 . 35
Retail 36
Supply And Demand . 36
Rents And Yields ..... 36
Table: Historic Rents - 2012-2014 (EUR/sq m/month) . 37
Table: Net Yield, 2011-2014 (%) . . 37
Table: Terms Of Rental Contract/Lease - H213 . . 38
Industrial .. 39
Supply and Demand . 39
Table: Historic Rents - 2012-2014 (EUR/sq m/month) 40
Rents and Yields ..... 40
Table: Net Yield, 2011-2014 (%) . . 40
Table: Terms Of Rental Contract/Lease - H213 . 41
Industrial Sector Overview 41
Competitive Landscape .. 42
Construction ... 42
Company Profile 44
Convergence Capital . 44
Metrostav SK .... 46
Orco Property Group . 48
TriGranit .. 50
Demographic Forecast ... 52
Demographic Outlook 52
Table: Slovakia's Population By Age Group, 1990-2020 ('000) . 53
Table: Slovakia's Population By Age Group, 1990-2020 (% of total) . 54
Table: Slovakia's Key Population Ratios, 1990-2020 . . 55
Table: Slovakia's Rural And Urban Population, 1990-2020 . 55
Methodology ...... 56
Industry Forecast Methodology 56
Sources ... 57
Risk/Reward Ratings Methodology ... 57
Table: Real Estate Risk/Reward Ratings Indicators . 59
Table: Weighting Of Indicators . 60

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