After existing and potential clients showed an eminent interest in central Slovakia, the biggest logistics real estate company in Slovakia, Prologis, began to look for suitable land for the construction of a new industrial park in the desired locality close to Nitra, Banská Bystrica and Zvolen. It found it in Žiar nad Hronom.
“While last year we did not have any ambitions to go farther from our localities in western Slovakia eastwards or northward, the situation has changed so much over one year that we bought land in Nitra and Žiar and decided to expand,” said Martin Baláž, director for leasing and development in the Czech Republic and Slovakia at Prologis.
The plot in Žiar is six hectares in area and Prologis’ plan is to build an industrial park with units of 22,000 square metres.
The Prologis Park Žiar project is now in its initial phase. The plan is to start building the units as soon as possible. Construction will be not speculative, i.e. without any signed contracts.
“As most of the companies that have shown interest are manufacturing companies and these usually need buildings adjusted to their needs, this excludes speculative construction,” said Martin Stratov, Senior Leasing Manager Slovakia.
In the meantime, construction of the Prologis Park Nitra next to the carmaker Jaguar Land Rover is advancing. The company is completing construction of the second of the three planned buildings.
“We registered such a high demand from clients that in 2017 we launched the construction of two units,” said Stratov. They have already signed 10 leasing contracts and are starting to prepare for the construction of the third, biggest unit.
Prologis also operates in Slovakia the Prologis Park Bratislava close to Senec. Last year it sold its facility in Galanta-Gáň and Nové Mesto nad Váhom.
Small, especially one-room, apartments and bed-sits are maintaining the highest prices in Bratislava. The price of two- and three-room apartments has decreased moderately. The interest in family houses and construction parcels is still high while demand exceeds availability.
The new city quarter growing in Bratislava’s Petržalka borough is popular among those looking for new housing. Last year people bought a total of 565 apartments there. This number accounted for more than 11 percent of all new apartments sold in Bratislava in 2017.
It is no surprise that a good working environment can motivate better performance from employees. Thus companies, during this time of qualified labour shortage, are endeavouring to improve the working environment for their employees as much as possible. To reflect this development, the real estate consultancy company CBRE Slovensko organises a competition for the best office. The Profesia company, running the biggest job portal in Slovakia, has won its second year. Among other companies given awards are the IT company Sygic and the business-services organisation EY.
The developer YIT Slovakia has launched the sale of apartments in the second building of the fifth, last, phase of the Tammi Dúbravka development. The new block of apartments will provide 42 apartments. It will be connected to the second building of the fifth phase with a community park. The sale of apartments in the first building was launched in September 2017.
The first weeks of 2018 indicate that the high interest in new warehouses in Slovakia is continuing. Developers are responding to the demand with the preparation of expansion phases for their successful projects as well as plans for new industrial premises and parks. The latter may start during the first half of 2018 and so developers would be able to offer new spaces in late 2018.
The developer Merius has brushed up its Semiramis Residence project which it plans to build in front of the Nové Mesto railway station and opposite Kuchajda lake in Bratislava. Its first attempt three years before failed as the local council did not grant it construction permission. The re-worked project with a price tag of €47 million is now undergoing an environmental impact assessment (EIA).
Prices of apartments in Bratislava have increased to their highest level since the crisis, the real estate agency Lexxus has discovered. Based on its latest residential real estate analysis, Slovaks are prepared to pay still more for apartments. This is because they fear further increases in real estate prices as well as the impact of measures taken by the National Bank of Slovakia (NBS). These may worsen accessibility of housing for the middle classes from January.