Offices

The total volume of the office market in Prague increased to 3.8 million sq m at the end of the third quarter of 2022. Three office buildings were completed during this period – Košíře Office Park with an area of ​​5,300 sq m in Prague 5, Bastion Florenc (3,400 sq m) in Prague 8, and the renovated VIA UNA building (9,600 sq m) in Prague 1. Almost 191,300 sq m of new space was under construction.

The largest transaction was the renegotiation of the KPMG contract (11,000 sq m) in the KPMG Office Center building in Prague 8.

Gross take-up reached 137,700 sq m. New leases and expansions in existing buildings accounted for 50% of the total realized demand. Pre-leases accounted for 9%, renegotiations of existing contracts accounted for 40% and 1% accounted for subleases in existing projects.

Office vacancy fell to 8.1%. Top rents have increased again and are in the range of 26.00-26.50 EUR/sq m/month in the center, 17.50-18.00 EUR/sq m/month in the inner, and 15.00-16.00 EUR/sq m/month in the outer parts of the city.

Average monthly rents

€ 15.50/sq m – € 17.00/sq m

Total stock

3,800,000 sq m

Vacancy rate

8.1 %

Currently under construction

191,300 sq m

Yield "A" class

4.6 %

Yield "B" class

5.5 %