Prague Office Market in Q2 2026: Companies Prioritise Lease Renegotiations

The Prague office market remains stable. The vacancy rate held steady at 5.8% in the second quarter of 2026, while prime rents in Prague city centre reached up to EUR 30 per sq m per month. A key trend was the significant increase in lease renegotiations, which accounted for 69% of total leasing activity.

Prague Office Market in Numbers

Total modern office stock in Prague – 3.95 million sq m

Gross take-up – 125,400 sq m

Net take-up – 35,800 sq m

Share of renegotiations – 69%

Vacancy rate – 5.8%

Office space under construction – approximately 309,000 sq m

Prime rent in Prague city centre – EUR 29–30 per sq m per month

Renegotiations Account for the Majority of Leasing Activity

Gross take-up in the Prague office market reached 125,400 sq m in the second quarter. This represented a 21% increase compared to the previous quarter, but a 24% decrease year-on-year.

The share of lease renegotiations increased significantly to 69% of total take-up. New leases and expansions accounted for 29%, while the remaining 2% comprised subleases. Companies are therefore increasingly choosing to optimise their existing lease terms rather than undertake costly relocations.

The highest net take-up was recorded in Prague 4 and Prague 5. Technology, pharmaceutical and healthcare companies were the most active occupiers of new and expanded office space.

New Office Supply Remains Limited

The total stock of modern office space in Prague reached 3.95 million sq m. The refurbishment of Danube House, providing more than 20,000 sq m of office space, was completed during the second quarter. Isola in Prague 4 is expected to be the only other project completed by the end of the year.

Total new office supply in 2026 is therefore expected to reach just 37,600 sq m. Approximately 309,000 sq m of office space is currently under construction, of which only 42% remains available for lease.

Vacancy Remains Low as Rents Rise

The Prague office vacancy rate remained at 5.8%, representing approximately 229,100 sq m of available space. This was a year-on-year decrease of 0.7 percentage points.

Prime rents in Prague city centre ranged between EUR 29 and EUR 30 per sq m per month. In inner-city locations, rents increased by 10% year-on-year to EUR 21.50–22.50 per sq m per month. Further upward pressure on rents is expected in attractive office locations such as Karlín and Pankrác.

Prague Office Market Outlook

In the second half of the year, the market will continue to be shaped by limited new supply, low vacancy and rising rents in the most sought-after locations. Companies approaching the end of their lease should therefore begin negotiations well in advance.

An early lease renegotiation can help occupiers secure more favourable terms, optimise the size of their office space and reduce the costs associated with a potential relocation.

We hope you find the information in this report useful.

If you are considering leasing office space in Prague, renegotiating your office lease or optimising your workplace, please contact us. We will be happy to help you assess the current market and negotiate suitable lease terms.

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