2014-02-10 03:03:01 - Slovakia Real Estate Report Q1 2014 - a new market research report on companiesandmarkets.com
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. Given that the Slovakian economy is still recovering from the 2009 recession, the largest in its recent history, and has to contend with severe austerity measures as the Government looks to decrease the deficit, this performance was to be expected. In 2014 economic growth is expected to increase by 2% year-on-year.
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 1.54 sq metres 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.
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