OFFICE MARKET PRAGUE Q3/2024

Despite growing construction activity, Prague's office market remains limited, especially in terms of prime office space for lease. The lack of new space is forcing companies to extend existing leases, while demand for modern offices in attractive locations such as around Masaryk Station, Smíchov, Karlín and new projects in Hagibor or Prague 4 continues to grow. The preference of companies is dominated by established neighbourhoods with good accessibility and modern buildings, while other locations remain less desirable. Rents in the most desirable locations, such as Karlín, Prague 8 and Prague 4, have risen significantly due to a lack of quality space and a limited number of new projects.