Real Estate Market Research

In total over 145,000 m2 was finished in 2014. The largest of new completions in the last quarter was ArtGen comprising over 23,000 m2 of office space in two buildings. Prague office construction sector remained active; ca. 189,000 m2 of new supply is expected to come to the market just in 2015.

Around 283,300 m2 are pending delivery between 2014 and 2016, located primarily in Prague 4 and Prague 5.

We are likely to see outstanding volume of completed office space in 2014, almost 150,000 m2. Vacancy rate got closer to the 14% mark in the third quarter standing at 14.2 %.

The majority of 2014/Q2 new supply was developed in Prague 8 (Karlín business hub); in total over 66,000 m2 were completed in the second quarter in Prague. Total volume of completed office space during 2014 is likely to exceed the figure from the previous year by around 100 thousand m2. Except for Prague 3, Prague 5, Prague 8 and Prague 10, all of the Prague areas have seen worse take-up compared to the previous quarter. Sitting at 14.5 %, the office vacancy rate increased by 1 percentage point in the second quarter of 2014.

Approximately 9,900 sqm of new office space was brought onto the Prague commercial property market and approximately 346,000 m2 of office space were underway in the first quarter of 2014. Demand in Q1 was characterised by new deals.

Around 85,000 sqm of new office space was supplied on the Prague office market in 2013 representing a slight decline over 2012. Another 312,000 m2 are expected to be delivered on the market during 2014 and 2015.

Gross take-up of Q4/2013 contributed 83,000 sqm to the total 2013 gross take-up figure; the largest share on Prague office gross take-up in the last quarter of 2013 (31 %) was registered in Prague 8.

After a slowdown in 2013/Q2 when investment volume exceeded €100 million, the third quarter of 2013 was very active with ca. €550 million invested in Czech commercial properties.

One new office building, Tetris (4,300 m2) in Prague 4, was delivered to the market during the first half of 2013. Several projects initiated construction in 2013/Q2. Newly started developments in Prague are Artgen in Prague 7 (22,000 m2), Green Line in Prague 4 (13,700 m2), Crystal in Prague 3 (11,900 m2) and Riverview in Prague 5 (7,000 m2). Demand in the second quarter of 2013 experienced a slight drop in comparison to the previous quarter amounting approximately 88,000 m2.

No new office buildings were delivered during the first quarter of 2013. The Prague Office market experienced a relatively strong demand with total exceeding 90,000 m2 transacted. Prime rents stood between 20.00 - 21.00 € /m2/ month in Central Business District (CBD).

Dear All,

We are delighted to present our continued report on the state of Prague office market in 2012.

In the first half of the year aproximately 3 500 sq.m. of new office space was delivered at the Prague market. Total lease activity reached almost 40 000 sq.m. Prime rents in the first half of the year remained virtually unchanged at level 20,00 - 21,00 € / m2 / month. Vacancy of the office buildings was approximately 12 %.

In the first half of the year aproximately 93 600 sq.m. of new office space was delivered at the Prague market. Total lease activity reached almost 121 000 sq.m. Prime rents in the first half of the year remained virtually unchanged at level 20,00 - 21,00 € / m2 / month. Vacancy of the office buildings has slightly decreased to 11,5 % which represents aproximately 330 500 sq.m. of available office space.

Total gross take up volume in the first quarter of 2012 reached 76,500 sqm. Prime rent in the city centre stood between 20 and 21 Euro / m2 per month. Prime rents in the inner city ranged from 15 to 17,5 Euro / m2 per month.

During the year 2011 more than 100 000 sq.m. of new office space was delivered at the Prague market. Total lease activity reached almost 286 000 sq.m, which confirms ongoing increase of the market. Prime rents in the year 2011 remained virtually unchanged at level 20,00 - 21,00 € / m2 / month. Vacancy of the office buildings leveled to 12 % which represents aproximately 333 400 sq.m. of available office space.

Dear Sir / Madam,

We would like to offer you our summary report on Prague commercial real estate market in 1h 2011. Individual chapters will provide brief summary on the macroeconomic situation, the office market and warehouse and logistics premises market. The last chapter deals with real estate investments. We hope this report will provide the information you are looking for. If you have any questions, please contact us.

Dear Sir / Madam,

We would like to offer you our summary report on Prague commercial real estate market 2010. Individual chapters can provide information on the macroeconomic situation, the office market and warehouse and logistics premises market. The last chapter deals with real estate investments in 2010.

We hope this report will provide the information you are looking for. If you have any questions, please contact us.

We bring you Prague Office Market Report 2010 H1.