The country’s economy continues healthy growth, reaching 4.2% in Q3 2019 and was one of the strongest growing economies in the EU.

 

The commercial real estate market remains in good shape, yet activity is moderating, expressed in more extended sale and rent periods.

 

Tenants are willingly migrating from old office premises into contemporary buildings, thus creating pressure on the landlords of the former properties.

 

Total modern office stock increased 2% compared to the same period a year ago.

 

The vacancy rate decreased to 6% compared to Q4 2018. The vacancy level of A-class office buildings was 5%, while the vacancy level of B-class offices was 6%.

 

A-class rent rates are currently between 12 – 16 EUR/sqm/month, B-class – between 8 – 12 EUR/sqm/month.

 

The prime office yield remained at 6.25%.