2020/Q3 INDUSTRIAL PROPERTY MARKET REPORT
We bring you a professional view of the current industrial property market.
The eventful third quarter of 2020 saw dynamic shifts such as GLP and GARBE entering the Czech industrial real estate market, continuing rise of industrial real estate sustainability certifications, new investments into automotive production as well as logistics capacities and many others. The total area of modern industrial space for lease reached over 9.0 mil. square meters. Several projects were delivered, few new projects began to be developed, yet overall stock of A class premises currently in construction remained relatively on the same level. Vacancy rate has risen marginally again and is currently at 5.52 % with 499,426 sq m available on the market in Q3. Half of the available space for lease belongs to CTP.
Situation in Prague and surrounding area remained relatively the same. There continues to be a low vacancy rate and future pipeline of projects doesn’t offer sufficient level of new development prospects to accommodate the growth potential. We believe that continuing rise of e-commerce, FMCG and retail demand will stimulate improved cooperation between the business side and local municipalities and other governmental institutions to create additional opportunities for industrial development in this important region.Back