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Market in Minutes | Prague Office Market Q3 2026

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OFFICE MARKET HIGHLIGHTS

  • With no new office completions or refurbishments delivered in Q3, Prague’s modern office stock remained at 3.95 million sq m. Vacancy fell to 5.65%, its lowest level since 2020, and is expected to decline further, with only one building to be completed in Q4.

  • Gross take-up totalled 344,300 sq m in the first nine months of 2026, down 21% compared with the same period last year. By deal count, activity was 42% below the average for the same period over the past three years. Lease renewals, meanwhile, remained high, accounting for 61% of year-to-date gross take-up.

  • The decline was even more pronounced in net take-up, which fell 48% year on year to 129,500 sq m. This marked the lowest level of new demand since 2020, the first year of the COVID-19 pandemic. The long-term average net take-up for Q1–Q3 typically exceeds 200,000 sq m, putting this year’s activity 37% below the historical average.

  • The IT & Technology sector retained its leading position, accounting for 26% of year-to-date net take-up. Prague 4 and Prague 8 attracted the largest shares of net demand among the city’s ten districts, while 73% of net take-up was recorded in Grade A* properties.

  • City-centre and inner-city rents continue to rise, with further growth expected.

 

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