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Pražský trh kancelářských prostor 2018 - shrnutí

06.03.2019

The Real Estate and Consulting company Professionals Ltd. informs about Prague office market in 2018.

In total over 149,000 m2 was completed in 2018 representing a 10% increase when compared to the previous year 2017. New office space availability decreased from 40,600 m2 (supplied in 2018 Q3) to 28,400 m2 completed in 2018 Q4.Two new projects were added to the A class office space in 2018 Q4. The largest of new completions was Building A in BB Centre with ca. 21,400 m2 situated in the Pankrác – Michle hub  (Prague 4). There was also completed administrative  building called City Element in the last quarter of 2018, the scheme comprises 7,000 m2 of office space and it is also located in Prague 4 in the Pankrác – Michle business hub.

Existing stock in the capital city continued to be dominated by A class office space. At the end of 2018 total Prague office stock stood at approximately 3.5 million m2.

Prague office construction remained active with over 342,000 m2 under construction in 2018 Q4. Almost 206,000 m2 of new supply is expected to come to the market just in 2019. In 2018 Q4 here was a strong development activity  in the Prague 8 district as well as in Prague 5.

Prime rents in CBD stayed unchanged q-o-q and ranged from 20.50 to 22.00 € /m2/ month in 2018 Q4. In Inner City prime rent was between 14.50 – 16.50 € /m2/ month and in Outer City in the range of 13.00 to 15.00 €/m2/ month.

Vacancy rate continued to decline  at the end of the year reaching only 5.0 % representing a decrease of 110 basis points in comparison to the third quarter and a drop of 250 basis points on 2017 Q4.