{"id":17679,"date":"2024-11-18T10:51:06","date_gmt":"2024-11-18T10:51:06","guid":{"rendered":"https:\/\/officeguide.cz\/?p=17679"},"modified":"2024-11-18T12:13:37","modified_gmt":"2024-11-18T12:13:37","slug":"office-market-news-q3-2024","status":"publish","type":"post","link":"https:\/\/officeguide.cz\/en\/office-market-news-q3-2024\/","title":{"rendered":"Office market news Q3\/2024"},"content":{"rendered":"\n

Czechia\u2019s economy is slowly recovering from a long period of stagnation, mainly thanks to a rebound in consumer spending. Household spending is expected to grow over the next few quarters, helping boost the economy. However, the recovery may be uneven, as high import levels and lower inventories could offset some benefits. Overall, GDP growth for 2024 is predicted to be moderate, with improvements picking up gradually over time.<\/strong><\/p>\n\n\n

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The Prague office market remained stable in Q3 2024, with modern office space totalling 3.96 million sq m by the end of September. Although no major office developments were completed this quarter, the volume of projects under construction reached 166,600 sq m by the end of the period, up 94% y-o-y. Despite rising vacancy rates, gross take-up showed positive year-over-year growth and prime rents remained stable, indicating steady demand in the market.
By the end of September 2024, the total volume of modern office space in Prague reached 3.96 million sq m. One office project, Riveroff Office House (1,400 sq m), has been completed after renovation.
The office vacancy rate rose to 8.1% (9.1% including sublease space) at the end of Q3 2024, marking the third consecutive quarterly increase.
The gross take-up (incl. renegotiations) for the first three quarters reached 458,100 sq m, a 27% increase from last year. However, new lettings in Q3 2024 were significantly below the long-term average, totaling just 48,200 sq m.
Prime rents in the city centre remained stable at \u20ac30.00\/sq m\/month, with slight increases registered in the inner city (\u20ac19.00) and outer city (\u20ac15.50) locations.<\/p>\n\n\n

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Read the full article here: https:\/\/www.cushmanwakefield.com\/en\/czech-republic\/insights\/czech-republic-marketbeat<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Czechia\u2019s economy is slowly recovering from a long period of stagnation, mainly thanks to a rebound in consumer spending. Household spending is …<\/p>\n","protected":false},"author":6,"featured_media":17677,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-17679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nOffice market news Q3\/2024 - Cushman & Wakefield Office Guide<\/title>\n<meta name=\"description\" content=\"The Prague office market remained stable in Q3 2024, with modern office space totalling 3.96 million sq m by the end of September....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officeguide.cz\/en\/office-market-news-q3-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office market news Q3\/2024 - 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