OFFICE PROPERTY MARKET Q2/2025

In the second quarter of 2025, the Prague office market remained in a mode of limited supply and stable demand. Although total office space exceeded 3.97 million sqm, vacancy rates continued to decline, with the vacancy rate falling to 6.57%, the lowest level since 2022. Construction remains subdued: no new buildings were completed in Q2 and the outlook for the rest of the year remains unchanged. The high proportion of pre-lets and the lack of new projects further reduce the flexibility of supply, especially for companies looking for larger or specific space. Rents continued to rise moderately, with premium locations exceeding EUR 30/m²/month. Increased interest in securing long-term space has led to several large pre-lets. The market continues to favour landlords, while tenants are facing pressure on prices and the need to make decisions more in advance. Build-to-suit projects are also currently dominating the market.