Ljubljana City Report

Transcription

1 Ljubljana City Report H City Reports

2 Net Salary April Economy & Investment Economy During the first quarter of 2016, Slovenia s GDP growth was 2.5%. With greater domestic demand, the positive trend of economic activity has strengthened. Private investment activity is expected to remain strong in 2016, due to improving financial conditions. Domestic demand is set to take over the growth baton from net exports in the period, as growth slows and is outpaced by import growth. Slovenia s strong external position offers protection in the case of markedly weaker external conditions. GDP growth Q1 y-o-y 2.5% 1,020 Unemployment rate Q1 8.9% Source: Statistical office of the Republic of Slovenia; Oxford Economics Inflation June y-o-y 0.3% Retail trade volume May y-o-y 0.4% Industrial production April y-o-y 0.5% Construction activity May y-o-y % Source: Statistical office of the Republic of Slovenia; Oxford Economics Exports / Imports Jan - Mar y-o-y +2.9% Export Imports -1.1% Prime yields Key transactions During the past 12 months, a rise in retail investment has been recorded within various cities in Slovenia. Asset type Property City Seller Buyer Office / Retail Centrice portfolio Various Heta Asset Resolution AG Lone Star Real Estate Fund Retail 7.50% Retail Planet Tuš Koper Tuš Real Estate Greenbay Properties

3 Office market Supply Vacancy Extensive office development following EU accession in 2004 Major office destinations Bezigrad and city centre 20% Limited construction activity in recent years Previous office completion Situla mixed-use complex Property Location Size (sq m) Completion Situla Tridana Bezigrad 6, modern buildings <10% older buildings 30% Construction of office buildings in Slovenia Demand Market activity driven by the relocation of existing occupiers The most active sectors have been pharmaceutical, IT and insurance Delivered office buildings Office builidngs under construction Source: Statistical office of the Republic of Slovenia Pipeline No large scale office schemes in the near term Future office development will depend on pre-lease agreements Announced projects taking place in the city centre Rental levels (sq m / month) Project Location Size (sq m) Status City Tower Severna Vrata S2 Center 21,500 Planned Šumi Center 25,500 Planned Prime Secondary

4 Retail market Supply Major retail zone - BTC Continued expansion of supermarkets Merkator announces further investment plans Ljubljana shopping center density 622 sq m per 1,000 inhabitants Construction of Ikea store to start in 2017 Future supply remains uncertain with one recently announced project Future project type Investor No. of shops City Shopping centre SES Spar European shopping centers 90 Ljubljana *including BTC retail area Recent retail developments Construction activity remained reliant on the expansion of existing supermarket chains within the country Retailer Type Size (sq m) City Tuš Supermarket 250 Miklavž na Dravskem Polju Spar Supermarket 1,450 Ljubljana Demand Increase of new brands on the market Decathlon and P.S. Fashion open their first stores in the country Sportina opens the first mono brand Esprit and Only stores Mango returns to the market and announces expansion plans Retail trade turnover index Rental levels (sq m / month) % % % % % 98.00% 96.00% 94.00% Source: Statistical office of the Republic of Slovenia Shopping Centre High street

5 Andrew Peirson Managing Director Jana Golubović Senior Research Analyst Featured Research: SEE the difference Ljubljana Office Pulse report Ljubljana Retail Pulse report COPYRIGHT JONES LANG LASALLE IP, INC All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.