OFFICE MARKET HIGHLIGHTS

• Prague’s total office stock saw a slight decline in Q2 2025, falling to 3.94 million sq m. This was primarily due to the continued limited new supply (only 15,300 sq m was delivered to the market during H1) and the transfer of one office building from existing stock to the development pipeline for refurbishment.
• The vacancy rate in Prague’s office market declined for the third consecutive quarter, reaching 6.6% (259,000 sq m) as of June 2025.The highest volumes of available office space continued to be found in Prague 4 and Prague 5.
• Gross office take-up (including lease renegotiations) totalled 253,100 sq m in H1 2025. While this represents a 21% y-o-y decrease, it still marks a 7% increase compared to the five-year H1 average. Lease renewals made up 35% of the H1 2025 gross demand.
• Net take-up amounted to 158,400 sq m, down 8% y-o-y but 21% above the five-year H1 average. Excluding owner-occupied transactions, net leasing activity in H1 2025 reached 94,700 sq m, reflecting a 5% increase compared to the same period last year. The most active city districts in terms of net leasing were Prague 4, Prague 8, and Prague 5. Companies from the Technology & IT sector dominated leasing activity in the first half of the year.

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