Prague Research Forum Announces Prague Office Market Results for Q3 2026: Declining Vacancy and Rising Rents

• The volume of office space under construction remained virtually unchanged quarter-on-quarter at 308,900 sq m but increased by 27% year-on-year.
• The vacancy rate decreased by 11 basis points quarter-on-quarter to 5.65%.
• Gross take-up decreased by 20% quarter-on-quarter to 107,000 sq m.
• Prime rents increased in the city centre and inner-city locations.

Prague Research Forum is pleased to announce the office market figures for the third quarter of 2026. The members of the Prague Research Forum share non-sensitive information with the intention of providing consistent, accurate and transparent data about the Prague office market.
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Office Stock and New Supply
At the end of Q3 2026, the total modern office stock in Prague stood at approximately 3.95 million sq m. No new office building or refurbishment meeting the PRF criteria was completed during the quarter.
At the end of September, the volume of office space under construction stood at approximately 308,900 sq m, remaining virtually unchanged quarter-on-quarter but increasing by 27% year-on-year. Prague 5 accounted for the largest share of the total volume under construction (39%), followed by Prague 4 (36%). Approximately 61% of the office space under construction had already secured tenants.Class A to AAA office buildings accounted for approximately 73% of the total modern office stock, while the highest-quality AAA-rated projects represented around 16% of the total.

Office Take-up
Total gross take-up, including renegotiated leases and subleases, reached 107,000 sq m in Q3 2026. This represented a quarter-on-quarter decrease of 20% and a year-on-year decline of 41%.
The highest gross take-up in Q3 was recorded in Prague 4, which accounted for 41% of the total volume. Prague 8 followed with an 18% share and Prague 5 with 15%. From a sector perspective, technology companies dominated demand with a 28% share. Pharmaceutical and healthcare companies accounted for 11%, while professional services firms represented 10%.
Renegotiations accounted for 53% of total demand in Q3. New leases represented 30% and expansions 6%. Pre-leases in projects under construction accounted for 9% of the total volume, while the remaining 2% related to subleases of already leased space. Net take-up, excluding renegotiated leases and subleases, reached 48,800 sq m, representing a quarter-on-quarter increase of 28%.

Rents
Prime office rents in Prague increased in the city centre and inner-city locations in Q3 2026, while remaining stable in outer-city locations.

In the city centre, prime rents ranged from €31.00 to €32.00/sq m/month, while inner-city rents rose to €22.50–23.50/sq m/month. Outer-city rents remained at €16.00–17.00/sq m/month.