In Q1 2026, the Prague office market continued to demonstrate solid fundamentals despite limited new completions and a slower start to the year in leasing activity. While development activity increased and the construction pipeline expanded, new supply delivered to the market remained modest, reinforcing tight conditions in prime locations. Occupier demand remained resilient, particularly for high‑quality buildings in central locations, where vacancy stayed close to historic lows. Overall market stability continued to be underpinned by constrained supply and a clear preference for modern, energy‑efficient office space.
- The total stock of modern office space in Prague reached 3.93 million sq m, with 8,600 sq m delivered during the quarter across two completed projects.
- At the end of Q1 2026, almost 313,000 sq m of office space was under construction, with the majority of projects scheduled for completion between 2026 and 2028. More than 60% of the office space currently under construction is already pre let.
- Gross take up totalled 105,400 sq m, reflecting a 26% quarter on quarter decline, but remaining 19% higher year on year. Leasing activity was driven primarily by the technology and financial sectors.
- The overall vacancy rate remained stable at 5.8%.
- Prime rents remained unchanged at €30.00 per sq m per month in the city centre, while limited new supply and ongoing occupier demand are expected to support rental growth over the coming periods.
