OFFICE MARKET HIGHLIGHTS
- The Prague office market has entered a second consecutive year of low completions. In Q1 2026, new supply totalled 8,600 sq m, with full-year construction completions expected to reach 36,700 sq m, approximately half the volume of new deliveries recorded against the five-year annual average.
- Given the low volume of completions in Q1 2026, total office stock in the city remained unchanged at 3.93 million sq m. The vacancy rate remained stable at 5.8%, broadly unchanged from December 2025, with only a marginal decrease of 3 bps.
- Total office occupier activity in Prague (including lease renewals and owner-occupier transactions, although none were recorded this quarter) reached 105,400 sq m in Q1 2026, representing a 19% year-onyear increase but a 5% decrease compared to the five-year Q1 average.
- With 44,400 sq m of office space take-up recorded in Q1 2026, net demand was broadly in line with the opening quarters of 2025 and 2024, marking a marginal 7% year-on-year decline. Occupiers from the IT / Technology sector once again remained the key demand driver, accounting for 45% of net take-up.
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