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The annual supply in the Prague office market reached 75,300 sq m in 2022, representing an increase of 34% compared to 2021, albeit still below the 5-year average. Although no new construction started in H2 2022, the development activity in the sector remains relatively healthy, with over 183,000 sq m of offices currently under construction. In 2022, gross and net take-up increased by 42% each compared to the previous year. At the end of 2022, around 293,600 sq m of offices were vacant, accounting for a vacancy rate of 7.7%. Prime headline office rents remained at € 27.00/sq m/month. During the year, the rental level escalated mainly due to the ongoing construction of prime office schemes in the central areas of Prague, which are particularly popular among office occupiers in the city. The year 2023 may see further rental growth, but it is expected to be rather moderate.

Marketbeat Q4 2022

Download here – MarketBeat Q4 2022