Rent prices on Prague’s high-end shopping avenue Pařížská in the Old Town have gone beyond those charged on the Na Příkopě high street in Prague 1 for the first time since 1989, according to JLL. Rents on Pařížská street, which includes brands like Louis Vuitton, Hermes, Prada, Tiffany, Jimmy Choo and Fendi, have doubled over the last 10 years to €220/sqm/month for a 100 sqm unit. Lack of space in the iconic street is driving prices up. Rent prices on Na Příkopě have risen just 50 percent to €180/sqm/month, though space along the street is similarly difficult to come by. Retailers targeting Na Příkopě are also looking for space in modern shopping centers or along 28. října street at the bottom of Wenceslas Square. Those targeting a unit along Pařížská often waiting for years for space to open up, according to JLL.
