INDUSTRIAL REAL ESTATE MARKET - Q2/2024

In Q2/2024 total stock of "A" class industrial premises for lease reached 12,145,251 sq m. With shell & core (S&C) premises the total stock reached 12,560,853 sq m.

75,336 sq m of new premises were delivered to the market. There were 977,054 sq m under construction across all regions of the Czech Republic. This is the first time since Q4/2021 when amount of premises under construction fell below 1 million.

The vacancy rate increases again to 3.99% which represents 484,633 sq m (S&C premises excluded). With S&C premises included, the vacancy rate also increased to 6.58% with 825,998 sq m available in both completed and before completion buildings.

Total of 415,602 sq m of modern "A" class premises were in S&C condition at the end of Q2/24. Most of it available to clients.

Both net and gross take-up returned back to normal after record low in Q1/24. Net take-up reached 219,093 sq m and gross take-up 357,949 sq m. Thanks to the good performance of automotive sector and manufacturing in general, we expect the take-up recovery to continue in the second half of 2024.