![Q1/2024: CZECH ECONOMY WILL SLIGHTLY GROW IN 2024](https://officeguide.cz/wp-content/uploads/2024/05/2024_q1_market-report_li-office-kopie-1.png)
Q1/2024: CZECH ECONOMY WILL SLIGHTLY GROW IN 2024
Following a notable decline in the third quarter of 2023, the Czech economy experienced a recovery in the last quarter of 2023. …
Although gross office take-up grew by 11% q-o-q, net take-up increased by 0.5%. In Q3 2022, relatively robust occupier demand combined with limited new supply resulted in the vacancy rate decreasing by 0.3 pp compared to the previous quarter. After the increase of 13% in Q2 2022, during Q3 prime rents were stable.
Given the evident shortage of quality and well-located office space in Prague, prime rents are forecast to grow to €30.00/sq m/month. At the same time, the price gap keeps widening between the office schemes, subject to their age, quality, and location attributes.