Prague Office Market - Q2 2018

Prague Office Market - Q2 2018

II Quarter 2018

In Q2 2018, five new office buildings totalling 51,500 sq m were completed in Prague and another 313,900 sq m of office space is currently under construction with scheduled completion between 2018-2020. Gross take-up remained strong and amounted to 145,200 sq m of leased office space, well above the 5-year average. Net take-up, which excludes renewals, amounted to 92,500 sq m. As a result of the relatively strong new supply delivered to the market, the vacancy rate increased slightly in Q2 2018 to its current level of 6.9%, but nonetheless remains very low.