OFFICE MARKET HIGHLIGHTS
- Total modern office stock in Prague reached 3.95 million sq m by the end of Q2 2026, expanding by 29,400 sq m during H1. While new completions nearly doubled the unusually subdued delivery volume recorded in H1 2025 (15,300 sq m), they remained 33% below the five-year H1 average. The continued shortage of new supply has kept market conditions tight, with limited development activity remaining the primary factor anchoring vacancy below 6%.
- Office occupier activity reached 229,000 sq m in H1 2026, representing a 9% year-on-year decline and an 11% decrease compared with the five-year H1 average. Gross take-up was driven predominantly by renewals, which accounted for 64% of gross take-up, the highest share ever recorded in the market’s H1 statistics.
- Net take-up totalled just 78,400 sq m in H1 2026, accounting for 34% of total demand. As a result, net demand declined 50% year-on-year and remained 45% below the five-year H1 average, reflecting subdued expansion demand despite otherwise healthy occupier activity. The IT & Technology sector was the strongest driver of new demand, accounting for 35% of net take-up in H1 2026, while geographically Prague 8 attracted the largest share (29%), followed by Prague 4 (25%).
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