OFFICE MARKET HIGHLIGHTS
- With no new office completions or refurbishments in Q3, Prague’s total office stock remained unchanged at 3.94 million sq m, the same level as in Q2 2025. Year-to-date new supply also held steady at15,300 sq m.
- Prague’s office vacancy rate continued its downward trend, declining to 6.4% (254,200 sq m) in Q3 2025. Compared to the end of 2024, this represents a decrease of 77 bps. The most notable decline in immediately available space occurred in AAA-rated office buildings, where vacancy dropped from 8.4% at the end of 2024 to 4.9% as of September 2025.
- Total office market activity (including lease renewals and owner-occupier transactions) reached 429,100 sq m in the first three quarters of the year, representing a 5% y-o-y decline but a solid 25% increase compared to the five-year Q1–Q3 average. Lease renewals accounted for 41% of total activity during the first nine months of 2025.
- By the end of Q3, year-to-date net take-up had risen to 245,800 sq m, up 11% y-o-y and 36% above the five-year average for the same period. Excluding owner-occupied transactions, net leasing activity totalled 156,300 sq m so far this year, reflecting a 15% increase compared to the corresponding period in 2024.
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