Of the 230 units along the Prague’s main high streets, only three are currently vacant. This illustrates the fact that the Czech capital has lowest vacancy among the capitals in the region, according to the newest report by BNP Paribas Real Estate. In a comparison of Prague, Warsaw, Budapest and Bucharest, it finds that demand for space in Prague is driving rents through the roof, with landlords charging €170 to €200/sqm/month. The city has the highest number of luxury and premium brands in the region, along with the best conditions for opening flagship stores. A huge flow of tourists is among Prague’s top assets, with 6.3 million visiting Prague in 2015 and growth expected. BNP writes that brands such as Saint Laurent, Moschino, Chanel or Emporio Armani are looking for space in the city, but are limiting their search for locations along Pařížská street, where there is zero vacancy.
