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News Release

Bratislava

Slovak investment market - revival activity in the first half of 2013

The total investment volume recorded in the first half of 2013 reached 97 million EUR.


​After limited activity in 2012 when approximately only 20 million EUR was transacted, we have experienced a significant revival in investment activity in the first half of 2013 in Slovakia.

The total investment volume recorded during the first six months of 2013 amounted to approximately 97 million EUR and includes three transactions across all commercial real estate sectors in Slovakia.

Three transactions finalised in H1 2013 include: HB Reavis´s sale of its Apollo Business Centre II office building part in Bratislava to Generali PPF for circa 75 million EUR, the acquisition of KraussMaffei production site in Sucany by Tatra Asset Management and the disposal of the Aquario Shopping Centre in Nove Zamky owned by Heitman to a private local investor.

Miroslav Barnáš, Managing Director Jones Lang LaSalle Slovakia, Head of Capital Markets, says: "We also understand there are several other deals under offer and in the advanced stage of due dilligence, as for example Aupark Shopping Centre being acquired by New Europe Property Investors (NEPI)."

The main focus remains on grade A office product in Bratislava, but regional retail schemes and some industrial buildings located in the prime logistics hubs may suit to investor´s apetite too. Prime office yield now ranges between 7.15 - 7.25%, prime logistics remains unchanged between 8.75 - 9.0% and prime retail yield stabilised around 6.75 - 7.0%.

"We now see increased initiative from both local and international vendors bringing most of their products back to the market. Interestingly enough, this is for the moment successfully testing the appetitie of both types of investors - local and international institutions.", Miroslav Barnáš adds.

 

Slovakia in CEE region (Central and Eastern Europe)

In H1 2013, investment transactions with a volume of approximately 1.74 billion EUR have been recorded in CEE. This represents a 38% y-o-y increase compared to volume in H1 2012. Poland remained the leading regional market with a share of circa 56% in the CEE followed by the Czech Republic (23%), Hungary (10%), Slovakia (6%) and Romania (4%). In contrast, Bulgaria, Croatia and Serbaia did not record any investment activity throughout 2013 so far.

To download full report, please click​ here.