Knight Frank Czech Republic presents regular office market update on the Czech real estate market for the first quarter of 2024. Have a look on a quarterly update on the Prague office market looking at supply and demand patterns and analysing major occupier trends.

• In the first quarter, one new office building was completed – Roztyly Plaza (21,700 sq m) in Prague 4.

• The annual new supply in 2024 is expected to total 80,300 sq m, significantly below the long-term average.

• The office vacancy rate in the first quarter of this year increased slightly quarter-on-quarter to 7.47%.

• Total gross take-up (including renegotiations and subleases) reached 108,700 sq m, down by 35% on the previous quarter.

• Renegotiations accounted for a leading 57% of the total gross take-up.

• Prime headline rents are expected to increase further in central locations.

For more information you can download the report below.  We will be happy to answer any questions you may have about the investment data or anything else related to the property. We are your partners in property. 
Lenka Šindelářová Head of Research and Consultancy lenka.sindelarova@cz.knightfrank.com+420 602 773 592