Prague’s total office stock grew by 32,900 sqm during the third quarter of 2019 to reach 3.59 million sqm. A total of 112,900 sqm have been added so far in 2019, according to a new study by Colliers International which found that a slowdown in demand appears to be taking hold. ” Unlike in previous quarters, more than 50% of the newly delivered space was vacant at the end of September, which is one of the reasons behind the further overall vacancy increase to 5.1% by the quarter end,” writes Colliers International. “This represents some 182,600 sqm of offices available for lease, up by 20,000 sqm compared to previous quarter.” Total gross take-up in 2019 is at 299,300 sqm, down 16 percent y-o-y, while net take-up fell 18 percent to 192,700 sqm. Q3’s net absorption of just 9,100 sqm was the lowest figure recorded since Q1 2015 when the number went negative.
