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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.