OFFICE PROPERTY MARKET Q1/2023

New construction of office space is declining

  • A total of 38,000 m² was completed in the first quarter of 2023.
  • Gross realised demand totalled 137,800 m².
  • According to the PRF, the vacancy rate has fallen to 7.5%.
  • The highest rents ranged between EUR 26.50-28.00/m²/month in the city centre, EUR 17.50-18.50/m²/month in the inner part of Prague and EUR 15.00-16.00/m²/month in the outer parts of the city.

OFFICE PROPERTY MARKET Q1/2023

New construction of office space is declining