Bratislava Office Market Q1 2025: New Methodology and the Strongest Q1 in a Decade

Q1 2025 marked a methodological shift in Bratislava’s office market. The Bratislava Research Forum adopted a new reporting system that excludes owner-occupied buildings (owned and occupied by the same entity, mostly state or government) from total stock. This results in a more accurate picture of the commercially office market and its dynamics.

Gross demand totalled 62,800 sq m – the strongest first quarter in the past ten years. However, 63% of this volume came from renegotiations, reflecting regular cycle and a limited supply of A+ space. Net demand stood at 23,400 sq m, with the most active sectors being consumer goods, finance, and IT.

The vacancy rate under the new methodology increased to 14.55%, while under the “old methodology” (including owner-occupied buildings), it reached 12.63%, remaining unchanged compared to the end of the year.

The CBD remained the most desirable location, while smaller occupiers (100–150 sq m) showed increasing interest in the historic city centre.

Prime rent surpassed the €20/sq m/month threshold and is expected to continue rising. The market remains dual-speed – tenants preferring A+ spaces, while older B-class buildings face increasing competition and must fight harder to secure tenants.

Currently, 38,800 sq m of new office space is under construction, mostly in the CBD and city centre areas.

Despite inflationary pressures and macroeconomic challenges, the Bratislava office market remains stable. Many tenants now prefer renewing leases over relocation – highlighting a prudent, risk-averse attitude heading into the rest of the year and lack of A+ spaces.