BUSINESS IN SHORT

Office space among Europe's cheapest

THE PRICE of office space in Slovakia dropped in 2008 and remains among the cheapest in the region. The average price, of €304 per square metre per year, was down 22 percent compared to 2007.

THE PRICE of office space in Slovakia dropped in 2008 and remains among the cheapest in the region. The average price, of €304 per square metre per year, was down 22 percent compared to 2007.

In the Cushman & Wakefield 2008 ranking of the most expensive office space Slovakia ranked 44th among 202 locations in 57 countries, the Sme daily reported. Locations in London, Moscow, Paris and Milan were among the top 5 most expensive for office space.

“Slovakia generally keeps its position among the cheaper locations for office space, especially in the region of central and eastern Europe,” said Andrew Thompson, the executive director of Cushman & Wakefield’s Bratislava office, as quoted by Sme.

For instance in Prague the average price of office space according to the survey was €439 per square metre per year, and office space in Warsaw and Budapest was also more expensive than in Slovakia.
The low price of office space is an advantage for Slovakia and if the country could offer some more incentives, such as a qualified labour force and governmental support, it would attract investors, said Thompson.

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