Offices

In Prague, a total of 88,000 sq m of office space was completed during the second quarter of 2020, bringing the total volume of modern offices to 3.71 million sq m. Approximately 166,900 sq m of modern office space is currently under construction, of which 62,900 sq m is planned for completion in 2020. Class A buildings make up the majority of modern office space (71%), with the share of the highest quality AAA-rated space in total office space reaches less than 18%. The share of unoccupied office space in the total supply in the second quarter reached 6.1%. The total volume of vacant offices reached 225,900 sq m. The largest volume of available offices was in Prague 5 with 60,700 sq m, which represents a vacancy rate of 9.3%, followed by Prague 4 with 48,300 sq m and a vacancy rate of 4.9%. The lowest number of vacant offices was in Prague 9 with 3,100 sq m (vacancy rate 2.0%) and in Prague 2 with 4,700 sq m (3.3%).