Slovak Real Estate: Renting Offices
How much does it cost? Slovakia is one of the cheapest places in Europe to locate your business. Companies benefit from low employment costs, low taxation and an excellent location at the heart of Central Europe – but need to be careful not to pay too much for their real estate.
The rent on an offices in Bratislava typically costs between €8 and €15 per square meter per month, plus a €3 to €5 per square meter per month service charge to cover shared costs for the building such as insurance, reception, maintenance and heat and light, plus VAT. Car parking is extra and in central Bratislava can vary between €30 and €250 per space per month. As a rule of thumb most companies have approximately 10 square meters per employee, plus extra areas for meeting rooms, a reception, toilets etc. All of these variables will be subject to some negotiation.
There are numerous stories of firms new to Slovakia getting ripped off in their rental or purchase contracts and being stuck paying over the odds for their office, warehouse or factory. It is essential to carefully check the building and the paperwork. For example, is your new office in Bratislava actually only legally allowed to be used as a house, or is the building’s internet connection so slow you need to install a microwave dish on the roof? There is a long list of potential problems, many of which may be expensive or even impossible to resolve once you’ve signed the contract.
Tom England MRICS