INDUSTRIAL MARKET HIGHLIGHTS: 2022

• In 2022, situation on the Czech industrial market remained very tight, particularly in terms of vacant space. Throughout the year, the country vacancy rate stayed at an average of 1.5% and in Prague mostly around zero, despite very robust completion of new premises.
• Total national stock of modern industrial space intended forlease reached 10.96 million sq m at the end of the year, with a new delivery of 1.19 million sq m which represented a 105% increase compared to 2021. Moreover, according to pipeline prediction, the total stock might exceed the 12 million sq m threshold by the end of 2023.
• Both new supply and net demand statistics have been skewed by two unusually large projects - the completion of a186,800 sq m of robotic warehouse for Amazon in Panattoni Park South Moravia (in Kojetín) and the signing of a 233,700 sq m pre-lease by H&M in Panattoni Park Cheb.
• Although the second half of 2022 was much weaker in terms of both gross and net demand, the annual totals hold at very similar levels compared to 2021, with gross take-up of 2.26 million sq m (-5% y-o-y) and net take-up of 1.5 million sq m (+2% y-o-y).

Read the full report to find out more