Vacancy in the Czech industrial property sector continued its downward slide in Q2, according to 108 Agency. Developers were active mostly around Pilsen and in the Greater Prague area. With 500,000 sqm of warehouse space now under construction, the total industrial stock on the Czech market is nearing 6 million sqm. The overall vacancy rate dropped from 4.79 percent to 4.40 percent q-o-q. Average nominal rents remained flat at €4/sqm/month, with rent prices rising in attractive locations such as Prague, Pilsen and South Moravia. Seven projects with a total area of 140,000 sqm were completed. In Pilsen, Mountpark Pilsen was built speculatively, offering 43,700 sqm of space. P3 delivered a 23,500 sqm BTS for VF Corporation at the P3 Prague D8 logistics park. A 12,000 sqm warehouse was completed at Brno West Business Park.
