Prague Office Market Figures Q1 2023
April 26, 2023
Total modern office stock in Prague reached 3.85 million sqm.
289,100 sqm of office space was vacant, representing a vacancy rate of 7.5%.
Two new office schemes were delivered to the market with 38.000 sq m.
Total leasing activity (TLA) reached almost 138,000 sq m
The market was dominated by renegotiations in existing premises, which accounted for 45% of TLA, followed by new leases (32%), preleases (14%) .
Take up (excluding renegotiations) reached 74,900 sqm.
Prime rent in Prague city centre stood at around 26.50 – 27.00 €/sq m/month.
The total amount of space under construction was ca. 145,000 sq m, with 90,000 sq m scheduled to be delivered in 2023.
Office investment volumes in Prague reached only €41 million.
Office prime yields stood at 4.80%,