OFFICE MARKET HIGHLIGHTS

• At the end of Q1 2025, the total stock of modern office space in Prague stood at nearly 3.96 million sq m. New construction remains limited,with only one project, E Factory in Prague 9, completed during thequarter. Currently, 173,100 sq m of office space is under construction, with the majority (70%) located in Prague 5.
• The vacancy rate decreased to 7.0% (278,200 sq m), with Prague 4 and Prague 5 continuing to offer the highest volumes of available space.
• Net take-up increased by 5% y-o-y, reaching 47,900 sq m in Q1. Themost active districts were Prague 5, Prague 7, and Prague 4, with the technology & IT sector leading new leasing activity. Positive demandat the beginning of the year is further underscored by net absorption of 20,200 sq m, signalling gradual market stabilization.
• Gross take-up (including renegotiations) fell by 14% y-o-y, totalling 87,700 sq m in the first three months of the year. Renegotiations alone accounted for 40% of overall gross demand.
• Prime headline rents in Prague's city centre continued to rise, within creases also recorded in inner-city areas. In contrast, rents in the outer districts of Prague have so far remained stable.

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