New Business market report from Business Monitor International: "Slovakia Real Estate Report Q3 2013"

Boston, MA -- (SBWire) -- 06/10/2013 --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 rental market performance in terms of rates and yields over the past 24 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. Our newly collected data covering full-year 2012 show that on the whole, rents for commercial real estate in Slovakia remained broadly flat: the office sector remains in a quagmire of inactivity, the industrial sector has lost its shine and the retail sector had a comparatively strong year.

View Full Report Details and Table of Contents

Key Points

- Our core scenario for the Slovak construction sector envisages a decline of 2.0% year-on-year (y-o-y) in industry value in 2013. The infrastructure sector will take a hit from continued delays, uncertain policy environment and funding shortage, while residential and non-residential construction activity will suffer from weak demand. Over the remainder of the forecast period to 2021, we expect the modest 2.5% y-o-y growth in construction industry value to mostly come on the back of government's support for residential and non-residential construction.
- We remain bearish on the European building materials market as conditions for firms continue to deteriorate in light of ongoing eurozone austerity. The sovereign debt crisis, lower domestic demand from peripheral countries and tighter financing conditions are constraining our construction outlook for the region and will continue to limit growth for the foreseeable future. Overcapacity, increasing production costs and falling sales volumes have hit the bottom lines of producers since 2009, and we see no immediate end to these phenomena.
- GDP growth slowed to 2.1% in Q312 as signs of a gradual slowdown in economic activity became more evident. While the headline figure is relatively positive amid a regional recession, it hides a heavy dependence on exports from a few key industrial sectors. With production set to slow in the coming months, and fiscal austerity likely to impede any swift rebound in domestic demand or reduction in unemployment, we forecast just 2.0% growth in 2013. We also note that the risks to our forecast lay mainly on the downside due to the narrow industrial base, deteriorating household and investor confidence, and substantial regional uncertainty.

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