There is still a shortage of available premium space, leading to rising rents.
Despite a significant surge in construction activity during the first half of the year, the Prague office market continues to face a limited supply of newly built office spaces available for lease. This shortage compels companies to renegotiate their existing leases instead of relocating. Nevertheless, demand is on the rise, particularly for high-quality office projects located near the city center, which has driven prime headline rents higher over recent quarters. While the most challenging period for office assets appears to have passed, the market is expected to remain dynamic.
OFFICE REAL ESTATE MARKET Q2/2024
There is still a shortage of available premium space, leading to rising rents.
