22nd February 2022

Rentals growing, with interest focused on smaller apartments. Demand for rentals to remain strong again this year

Rentals growing, with interest focused on smaller apartments. Demand for rentals to remain strong again this year

The number of rental transactions in Bratislava concluded via HERRYS real estate agency increased by 10% last year. This testifies to the unending demand for rentals in the capital, especially for two-room apartments, alongside growing interest in flatlets. Most rentals were made in the district of Bratislava I. According to HERRYS representatives, this trend will continue again this year.


Demand for rentals in the capital stayed strong last year. The number of leased properties grew by almost 10%, as recorded from transactions concluded via HERRYS, totalling 433 last year. The greatest interest in rentals has long centred Bratislava I district; interest in apartments in Bratislava IV increased by a few percentage points. Another interesting fact is the significantly higher share of apartments in new buildings up to 5 years of age, which last year represented 38% of made leases, which is 10% more than the year before. Rent prices held steady last year; HERRYS agency did not register any drops in rental prices.


In terms of the number of transactions, the rental market had a good start, prices are relatively stable, and it can be assumed that this trend will continue into 2022. We do not anticipate a drop in rental prices, which, naturally, is good news for landlords. At present we are seeing on the market an increased demand for rentals from the side of new arrivals in Bratislava from other parts of Slovakia as well as from foreign clients working for multinational companies. It is this demand that has been largely absent over the last 2 years,” says Martin Marsina from HERRYS.


In 2021, two-room apartments predominated among leased properties, accounting for 47.8%, i.e. nearly half. They are followed by three-room apartments, which accounted for 22.8%. A year-on-year increase was recorded in the share of rented flatlets and one-bedroom apartments, by 3%. Only a small percentage of total rentals was formed by four- or more room apartments or family houses. The average age of tenants has remained unchanged for the second year in a row, at 33 years, while the average age of a landlord is 46 years.

It still holds true that buying an apartment as an investment is advantageous, and the real estate market is indeed governed by this fact. The market is dynamic, evolving rapidly and we expect demand to continue to rise. Whether someone is aspiring for an apartment with a few rooms, where the final price will be lower, or for a larger apartment, one definitely does not have to worry about the return on investment,” added Martin Marsina.


Landlords more often made use of the services of a real estate agency

The number of rentals concluded in the form of the rental management service provided by HERRYS increased by 36% against a year earlier. This means that more and more people see the added value included in the exclusive brokerage and management of the lease of their investment property. HERRYS rental management service greatly streamlines the process of renting out a real estate property, benefiting its clients through greater profit and time saved. If an owner wants to continue to earn rental income, this requires quite a high degree of engagement. The rental management service eliminates this need, as the real estate agency takes care of the constant occupancy of the real estate property.