Fast Market Research recommends "Slovakia Real Estate Report Q4 2012" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 12/21/2012 --The Slovakia Real Estate report examines the commercial office, retail, industrial and construction sectors throughout the country in the context of a market stymied by regional weakness.

With a focus on the principal cities of Bratislava, Kosice, and Trencin, the report covers the rental market performance in terms of rates and yields over the past 18 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of regional dynamics on a market that looks set to comparatively outperform its regional peers. Investor sentiment, the business environment and infrastructure are also explored. Rents for commercial real estate in Slovakia remained broadly flat in H112, however it is notable that the first six months of 2012 have seen the industrial segment wobble in spite of the export sector's comparative outperformance.

Businesses pushed Slovakia's commercial property sector into a recovery in 2010 and this continued in 2011, as vacancy rates fell and supply stood still. Nevertheless, newly collected H112 data reveal that there might yet be light at the end of the tunnel, with notably the retail sector putting in a good performance. Key factors that will dictate the performance of the sector and full-year 2012 results are the economic situation both regionally and domestically, political stability and the fate of the construction sector.

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Key Points

- Despite robust economic activity by regional standards, Slovakia's weakened household segment is driving shortfalls in both government income and sales tax revenues, with mid-year revenue deviating by 11.5% to the downside from official projections. Given Prime Minister Robert Fico's opposition towards raising socially regressive taxes, we believe that greater government spending cuts are likely to be implemented in 2013 to keep the fiscal trajectory on track.
- A moderately robust export sector remains the solitary driver of economic expansion in Slovakia as high unemployment, tighter credit conditions and fiscal austerity drive private and government consumption towards contraction territory. Despite this, we highlight minor upside potential for our real GDP growth forecast of just 2.0% in 2012 should the export sector continue to hold ground.
- New figures from the European Commission highlight a drastic fall in EU construction production in April 2012, reflecting increasing austerity cuts and a slump in private investment as the eurozone crisis fails to abate. The figures support our muted growth outlook for the European construction industry and highlight a number of trends which continue to weigh on the sector.

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