Office market in Prague grew by 88,000 m2

Published: 25.08.2020 Related countries:  Czech Republic Czech Republic

Office market in Prague grew by 88,000 m2

Despite anti-coronavirus measures in 2Q 2020, developers supplied five new office buildings with an area totalling 88,000 m2 to the Prague market. Overall there are 3.71 million m2 of modern administrative spaces in the capital city. This was shown by an analysis by Colliers International. The vacancy rate grew 70 basic points to 6.1 % in a q/q comparison. The gross volume of demand including sublets and newly pre-negotiated contracts reached 79,100 m2. In 1H 2020 gross demand totalled 148,700 m2. Almost 43 % of this were renegotiations.

Source ČIA, CzechTrade team Calgary