Prague’s modern office stock exceeded 3 million sqm in the fourth quarter of 2014, according to the latest figures from the Prague Research Forum, with 71,200 sqm delivered in the last three months of the year. The trend is expected to continue this year with 183,000 sqm scheduled for completion in 2015. A total of 148,800 sqm of modern office stock was added to the Prague market in 2014, the data shows, including 16 new or refurbished buildings. ArtGen (23,800 sqm) in Prague 7, The Blox (16,300 sqm) in Prague 6 and Quadrio (16,100 sqm) in Prague 1 were delivered in Q4.
Gross take-up totaled 111,500 sqm, up 20 percent from Q3 and 40 percent y-o-y. The city’s vacancy rate, meanwhile, increased to 15.3 percent in Q4. The highest vacancy rates were posted in Prague 7 (34.4 percent), Prague 2 (23.6 percent) and Prague 9 (23.0 percent). The lowest vacancy rates were recorded in Prague 10 (6.3 percent), Prague 4 (6.7 percent) and Prague 3 (11.8 percent).
