During the second quarter of 2023, no office and administrative buildings were completed in Prague and, as in the previous three quarters, no new construction was launched. 

During the second half of the year, we expect seven office projects to be completed with a total office area of 66,800 m². The total area under construction now stands at 143,600 m². Most of the space under construction was located in Prague 1 (26%), Prague 10 (20%), and Prague 5 (19%). 

The vacancy rate fell to 7.3% from 7.6% at the end of the first quarter. The highest vacancy rates were recorded in Prague 3 (20.4%) and Prague 9 (14.4%), while the lowest were in Prague 8 (3.9%) and Prague 10 (5.0%). 

Total gross take-up in the second quarter reached 148,800 m², representing a quarter-on-quarter increase of 10% and a year-on-year increase of 23%. The highest gross take-up in Q2 was recorded in Prague 4 (41%), followed by Prague 5 (16%) and Prague 1 (14%). Demand was dominated by companies in the technology (42%), finance (9%), and pharmaceutical (7%) sectors.

According to the CSO's preliminary estimate, gross domestic product fell by 0.6% y-o-y but rose by 0.1% q-o-q in Q2 2022. CPI inflation reached 9.7% in June. The unemployment rate remains very low at 2.6% in June 2023. According to Consensus Forecasts, the CPI will be between 7% and 9% for the rest of the year. The CBO expects headline inflation to reach 11.2% for 2023 and 2.1% for 2024.


Total stock

3,850,000 sq m

Vacancy rate


Currently under construction

143,600 sq m

Yield "A" class