“In the short term, the construction of office space in 2016 will fall to 2010 levels, but will significantly recover in 2017. This will be influenced by several new projects such as Futurama, Butterfly and Five office units. The current overall conditions generally favour those tenants considering changing office space. In the last few years we haven’t seen such a wide range of buildings on the market and the possibilities offered by new office trends,” said Katarina Wojtusiak, Head of Office Agency CBRE.
Office buildings are being constructed mainly in Karlin and Pankrac. A number of huge projects were build during the first half of 2015. The most significant were:
Are you interested in other development projects in Prague? Read the article Developer projects finished in 2015 or will be finished soon. It will take a second.
Office vacancy rates slightly decreased in the second half of 2015 to 16,8 %, but according to market information, it will fluctuate at around 17 %.
„The short-term decline in the vacancy rate is caused by the fact that some large companies have pre-leased new space while still occupying their existing ones. That’s why they appear twice in the statistics, thus lowering the vacancy rate. The real level of vacancy will be shown after the move and it will grow,“ explained by Katarina Wojtusiak.
A positive trend has been noted in the pre-leasing of offices, which has doubled from last year to 40%.