• The total area of premium industrial space for lease reached 11,483,976 sqm at the end of June. 284,249 sqm of new industrial space was delivered to the market.
  • At the end of Q1, 1,106,610 sqm was under construction in all major industrial clusters in the Czech Republic. 
  • The vacancy rate increased again to 2.27%, representing 171,295 sqm including shell and core space. Excluding these, the vacancy rate rose slightly to 1.64% with 188,337 sqm available for lease. The largest vacant space for rent is located in the vicinity of Prague and Ostrava. 
  • Gross take-up was 554,773 sqm and net take-up was 255,453 sqm. Manufacturing companies dominated new contracts, accounting for more than half of the demand.

"In the second quarter of 2023 we saw a major spike in available premises which offers tenants more options. The market still waits however for vacancy rate to return to more healthy numbers. Developers and owners are already more willing to negotiate about tenants' needs, they are more inclined to offer incentives and short-term leases are becoming less problematic. Overtall activity on the market decreased with the exception of the manufacturing sector. Unfavorable exonomic situation pressures all kidns of entities - consumers, tenants, developers. Czech National Bank will either keep interest rates where they are for some time or even increase them further. We expect interest rates to be decreased in Q2/24 at the earliest." says Michal Bíly, Head of the Market Research Department at 108 AGENCY. 

Average monthly rents

€ 5.25/sq m – € 6.25/sq m

Total stock

11,483,976 sq m

Vacancy rate

2.27 %

Currently under construction

1,106,610 sq m

Yield "A" class

5.00 %

Yield "B" class

6.25 %