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Aug 20, 2018

Rents in the Ostrava office market remained stable

The Regional Research Forum presents the latest office market data in Ostrava. The members of the Regional Research Forum are CBRE, Colliers International, Cushman & Wakefield, JLL, Knight FrankThanks to this collaboration, we can provide consistent, accurate and transparent data about the regional Czech office markets.

Office Supply/Stock

Modern office stock in Ostrava stood at 213,400 sq m in the first half of 2018. A-class properties represented 73% of the modern stock and B class properties represented the remaining 27%.

In H1 2018, no new office building was completed in Ostrava. Currently, there is one office project under construction with planned completion in 2018: office building Smart Innovation Center (5,500 sq m).

Office Take-up

In H1 2018, gross take-up (including renegotiations) reached 18,900 sq m, representing a year-on-year increase by 197% and also an increase by 33% compared to H2 2017.

The largest deal in the first half of 2018 was the renegotiation of OKIN BPS company in Orchard Ostrava (7,300 sq m), followed by the renegotiation of Česká spořitelna (2,600 sq m), which took place in the same office complex.

Vacancy

A total of 25,000 sq m of modern office space was vacant at the end of H1 2018. The vacancy rate dropped to 11.7%, representing a decrease of 1.6 percentage points compared to H2 2017.

Rents

In H1 2018, prime headline rents in the Ostrava office market remained stable at 11.50 EUR/ sq m/ month.