The total volume of the office market in Prague is 3.73 million sq m. During the fourth quarter of 2021, only the Victoria Office Center of the CTR Group was completed. However, almost 200,000 sq m of new office space is currently under construction.

The volume of space for sublease reached almost 79,000 sq m, which is a 27 % increase compared to the previous quarter.

The largest transaction at the end of 2021 was the renewal of the lease of Thales DIS Czech Republic in BB Centrum. The total volume of transactions reached 106,000 sq m. New leases and expansions accounted for 48 % of this volume, pre-leases accounted for 7 %, renegotiations for 44 % and 1 % for subleases.

The vacancy rate fell to 7.8 %. The highest rent increased and ranged between 23.5 and 24 EUR/sq m/month in the center of Prague, 16.00 – 18.00 EUR/sq m/month in the wider city center and on the outskirts of the city then 13.50 – 15.00 EUR/sq m/month.

Average monthly rents

€ 15.50/sq m – € 17.00/sq m

Total stock

3,730,000 sq m

Vacancy rate

7.8 % [290,940 sq m]

Currently under construction

200,000 sq m

Yield "A" class

4.6 %

Yield "B" class

5.5 %