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In the Czech Republic were 97 office buildings completed in 2022; ISS expects growth

Compared to the earlier year, 10 more buildings were completed however, the total floor area decreased significantly to the lowest figure since 2017.

There will be a strong increase in newly completed office space in 2023, especially in Prague. However, the market will be driven mainly by projects from previous years; construction started this year is practically non-existent. This was stated by Michael Almasy, general manager of ISS. Referring to Czech Statistical Office’s data, he added that 97 office buildings were completed in the Czech Republic last year, 10 more than a year earlier. However, the floor area decreased significantly, reaching 249,000 m2. This is down 20% y/y and the lowest figure since 2017. Investment costs for projects completed last year reached CZK 6bn, compared to CZK 8.4bn a year earlier.

Source: Daily news | ČIA news
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