INDUSTRIAL MARKET HIGHLIGHTS

• New premises delivered to the market during the first three quarters of the year totalled 497,600 sq m, a 28% y-o-y decrease. Total existing rentable and rented stock reached 12.66 million sq m, with the Greater Prague submarket accounting for 3.55 million sq m.
• The nationwide vacancy rate continued its upward trend, reaching 3.6%, the highest level since Q3 2020.
• The construction pipeline remains robust, with 1.48 million sq m either under construction or completed to a shell & core finish. Of this space, 47% was still available for lease at the end of September 2024.
• Total leasing activity for the first nine months of the year reached 1,026,700 sq m, showing an 18% y-o-y decline. Lease renewals constituted one-third of the year-to-date gross take-up. Considering the current market dynamics, the annual gross take-up for 2024 is expected to fall short of 2023 levels.
• Net demand for the first three quarters of 2024 totalled 680,500 sq m, marking a y-o-y decrease of just 4%. The largest share of these new commitments was recorded in the Moravian-Silesian region (20%), followed by the Greater Prague submarket (17%). Manufacturing companies accounted for nearly 56% of the year-to date net take-up.

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