The skyline of Bratislava has been changing rapidly. (source: Jana Liptáková)
In June 2021, The Slovak Spectator published its Business Focus on real estate. Here is your overview of stories from this focus issue:
Covid hit the real estate market but outlook remains positive
Despite the overall slowdown in the real estate market, its outlook remains positive. The retail sector was hit the hardest due to shops closing during lockdowns, while the industrial and logistics sector was the least influenced. The pandemic continues to affect the real estate sector in 2021. Predictions are positive, with the trend of sustainability playing an increasing role in investors’ decisions.
Bratislava’s growth cannot be stopped, but it can be regulated
When Marián Hlavačka launched the development company Corwin a decade ago, he wanted to bring something new to the real estate sector. As a lover of nature and hard data, he wished to construct buildings in a sustainable way with the help of the latest technology to return some of Bratislava’s nature, offering people a better environment for living.
“I wanted to create a development company with a human face,” said Hlavačka, whose ambition is to do real estate business differently so the word developer is no longer used as a swearword in Slovak.
Largest developers in Slovakia
The largest developers in Slovakia sold 2,525 flats in 2020, bringing nearly 140,000 square metres of residential spaces, 80,000 square metres of office space and 42,390 square metres of logistics and industrial real estate. This stems from the information the companies provided to the Largest in Business rankings by The Slovak Spectator.
Bratislava property prices soar amid pandemic
Residential property prices in Bratislava have soared during the Covid-19 pandemic, according to the latest data on real estate in the capital.
Although the coronavirus crisis has affected the wider economy with lockdowns leaving shops, restaurants, and many other businesses shuttered for months, the prices of flats and family houses in Bratislava have been driven up by a mix of high demand, a long-term low supply of residential real estate for reasonable prices, and cheap mortgages, experts say.
Thousands of flats? The state is sitting on a fortune worth billions
If there were a list of the most lucrative real estate addresses, Bratislava’s Old Town borough would rank quite high. Not only for its location but also due to the low number of plots and opportunities for new projects.
Still, there are several buildings downtown that seem to defy logic.
For example, there is a historic primary school building on the corner of Lazaretská Street and Cukrová Street that has been abandoned for more than 15 years. It is said that the borough closed the school after it had been left by pupils en masse due to the dissatisfaction with the then principal.
Open space is no longer the “chicken farm” it used to be
Offices will not return to what they used to be before Covid-19. Home office will remain widespread and hybrid work styles will become standard. Digitisation will make working in offices more comfortable and effective, says office space expert Martin Neštepný.
The Slovak Spectator interviewed Neštepný, head of the Smart Workspace Design & Solutions department at the HB Reavis developer and international workspace provider, about how offices have been adapting to the impacts of the pandemic and climate change, what changes may increase the satisfaction and wellbeing of employees and what offices will look like in the near future.
Once an ugly duckling, pandemic turns logistics real estate sector into desirable investment opportunity
While logistics real estate used to be less attractive compared to the office or retail sectors, the Covid-19 pandemic and subsequent lockdowns accompanied by a surge of online shopping has increased demand for logistics real estate. As a consequence, industrial and logistics properties were the least affected by the pandemic and the most attractive for investors. Given the ever-growing volume of online shopping and increasing pressure for greener solutions, real estate market experts assume that this sector will continue advancing in 2021.
Residential projects in Bratislava feature prominent architects, civic amenities and eco-friendly approach
While there is a lack of housing in Bratislava, there are several interesting residential projects of various sizes under construction in Bratislava. These include the Sky Park project designed by world-renowned architectural studio Zaha Hadid Architects, which is just being constructed on the edge of the city centre, as well as the green-field projects of the brand new Slnečnice and Nesto districts, both in Petržalka. Other projects are emerging in former industrial zones including the first official skyscraper in Slovakia, Eurovea Tower, and Zwirn. Another project, Vydrica, is finally filling the gap on the Danube embankment while the ambition of the Guthaus residential project is to bring solutions to climate change.
