Savills: Office area in Prague grows to 3.73m m2 in Q2

Published: 23.08.2021 Related countries:  South Africa South Africa

Savills: Office area in Prague grows to 3.73m m2 in Q2

In the second quarter of 2021, Prague's total area of modern office premises increased slightly to 3.73m m2. An area of 49,500 m2, down 57% y/y, was supplied to the market. This information was provided by Savills CZ. The area of offices under construction decreased to 167,300 m2. The total rental activity, comprising new commitments and renegotiations, totalled 89,300 m2 in the second quarter. Net realised demand grew 11% to 49,100 m2. The vacancy rate rose 170 bps to 7.80% and was the highest in the past four years. At the end of the second quarter of 2021, 291,400 m2 of office premises in Prague were available for immediate lease.