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