INDUSTRIAL MARKET HIGHLIGHTS | Q1 2021

• With the highest quarterly gross take-up ever recorded, vacancy rate at the new record-low and exceptionally strong construction pipeline, the Czech industrial real estate market indicators broke several records in Q1 2021.
• 81,550 sq m of new rentable premises were delivered to the Czech industrial market in Q1 2021, indicating a 39% decline in the volume of new completion compared to Q1 2020. The total industrial inventory intended for lease increased to 9.2 million sq m, and 35% of that was located in Prague (i.e. 3.22 million sq m).
• Nationwide vacancy rate fell to another historical low of 2.9%, having dropped by 45 basis points (bps) from the end of 2020. The share of unoccupied space in Prague increased by 11 bps in the first three months of this year and reached 1.6%.
• The development pipeline reached the highest level in the history of the Czech industrial market, construction was in progress on projects with a total rentable area of 734,200 sq m across the country. Speculative projects represented 36% of this construction pipeline.
• Total leasing activity in Q1 2021 reached 772,700 sq m, hitting a new record high. Net take-up in Q1 2021 amounted to 299,700 sq m, showing an increase of 156% year-on-year (y-o-y) but 20% drop compared to the previous quarter.

 Read the full report to find out more