News

The Prague office market has frozen. The crisis will hit older buildings harder

High construction and relocation costs are behind the marginal movements on the Prague office market in recent months. Even if companies want to change their location, it is currently very difficult to secure a lease of around 5,000 sqm, especially in attractive locations such as Karlín, Anděl, Pankrác or Smíchov. Although buildings are gradually being completed (mostly pre-leased), which started to be realised at a time of cheaper bank financing, there is a noticeable lack of premium office space on the market. In fact, no new office buildings have started construction since spring 2022. These are the main outputs of the analysis of the office market development prepared by the Czech real estate consultancy 108 REAL ESTATE.

More

High office refit costs prove a drag on new lettings

With the cost of fitting out new offices doubling or even tripling, tenants are reluctant to move. Back in 2019, investing in office refits cost in the region of EUR 400–600 per square metre, but since then the price has spiralled to some EUR 1,000, with costs upwards of EUR 1,200 no exception either. These costs, combined with the rising expense of renting and running offices, are among the principal reasons behind the cooling office market in the first half of this year. Many businesses are opting to stay put for the time being. This partly explains why there has been an upswing in the share of older leases being renegotiated, which rose to 45% in the first quarter.

More

Those interested in flexible spaces can now use the first coworking comparison engine Desking.cz

The supply of coworking spaces has grown to more than 50,000 sqm in Prague alone, complemented by another 58,000 sqm of serviced offices. Due to the growth of this concept in other regional cities, the real estate consulting company 108 AGENCY decided to launch a clear and intuitive Desking.cz - the first coworking comparison engine in the Czech Republic.

More

We would like to invite you to the Czech-Slovak online forum LOG-IN which take place on May 13

Visit online the only logistics event that is 100% focused on innovation in the field of logistics. This year will be the 17th year and you can be there with us.

More

Timeframe for Office selection

When choosing Office space, it is important to remember the time sequence of steps, which is very important and often influences decision-making.

More

108 AGENCY strengthens the office department

The new senior consultant is Martina Nielsen, a woman with major experience in renting all kinds of spaces.

More

Recent trends in real estate: Anchor tenants leave inefficient offices

Based on a recent boom of construction of new administrative projects across Prague, there is a growing tendency to relocate from existing, usually older and less efficient office buildings as these are no longer sufficient to meet the current needs of companies.

More

Medtronic at Prosek Point, Prague 9

The 108 AGENCY successfully represented the company Medtronic during the expansion and extension of 5.600 sq m of office space in Prosek Point, Prague 9.

More

Účetnictví on-line has moved its headquarters to Technopark in Prague 5

Účetnictví on-line, which provides accounting and tax services with online access, has signed a new lease in the office building Technopark in Pekařská street, Prague 5. Since this January, the company has been leasing there approximately 780 square meters of office space, which serves as the company's new headquarters.

More
Next
Submit inquiry