{"id":4625,"date":"2018-05-01T00:00:59","date_gmt":"2018-04-30T23:00:59","guid":{"rendered":"https:\/\/praguebusinessjournal.com\/?p=4625"},"modified":"2020-02-04T19:48:15","modified_gmt":"2020-02-04T18:48:15","slug":"prague-office-vacancies-down-3-in-q1","status":"publish","type":"post","link":"https:\/\/praguebusinessjournal.com\/prague-office-vacancies-down-3-in-q1\/","title":{"rendered":"Prague Office Vacancies Down 3% In Q1"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Prague, May 1 (CTK) &#8211; The vacancy rate for office space in Prague decreased annually by 3.2 percentage points to 6.2 percent at the end of Q1, going down by more than a half over the past two years, Prague Research Forum (PRF) data have shown.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\"><span class=\"s1\">Prague 3 registered the highest rate of 11.1 percent, followed by Prague 5 with a rate of 7.7 percent, while the lowest rates of 3.6 and 3.9 percent were seen for Prague 2 and Prague 10, respectively.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\"><span class=\"s1\">Four buildings with a total area of 38,700 square metres were completed in the capital city of Prague in the Jan-March period, which is about one quarter of office space built during last year.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\"><span class=\"s1\">Visionary in Prague 7 was the biggest project. Other projects included City West A1 in Prague 5, and Nekazanka 11 and Mango Building in Prague 1.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\"><span class=\"s1\">There are 334,000 square metres of office space under construction in Prague at the moment. Offices are due to be completed this or next year.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\"><span class=\"s1\">Q1 saw the launch of construction of five buildings, with three quarters of them being started in Prague 8. VN47 in Prague 1 and Rustonka R4 in Prague 8 are the largest projects.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\"><span class=\"s1\">First-quarter office space for which lease contracts were signed or extended went down by nearly a fifth year on year. The largest share of lease deals was registered in Prague 1, 29 percent, with Prague 4 and Prague 8 to follow. IT, consulting and pharmaceutical companies constituted about two fifths of the overall demand.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\"><span class=\"s1\">&#8220;Eight in ten companies in central Prague plan to move out, seeking largely above-average office space with modern design elements,&#8221; Radek Prochazka, managing partner of consulting company Prochazka &amp; Partners, told CTK.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\"><span class=\"s1\">The highest rents increased to EUR20-21.50 (Kc510-535) per square metre and month in the centre of Prague and to EUR15-16.50 (Kc380-420) in the inner city, staying at EUR13.50-15 (Kc342-380) per square metre and month in outer Prague.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\"><span class=\"s1\">PRF&#8217;s members are property consultants CBRE, Colliers International, Cushman &amp; Wakefield, JLL, and Knight Frank.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prague, May 1 (CTK) &#8211; The vacancy rate for office space in Prague decreased annually by 3.2 percentage points to 6.2 percent at the end of Q1, going down by more than a half over the past two years, Prague Research Forum (PRF) data have shown. &nbsp; Prague 3 registered the highest rate of 11.1 &#8230; <a title=\"Prague Office Vacancies Down 3% In Q1\" class=\"read-more\" href=\"https:\/\/praguebusinessjournal.com\/prague-office-vacancies-down-3-in-q1\/\" aria-label=\"Read more about Prague Office Vacancies Down 3% In Q1\">Read more<\/a><\/p>\n","protected":false},"author":6,"featured_media":1353,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[18],"tags":[434,479],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prague Office Vacancies Down 3% In Q1 - Prague Business Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/praguebusinessjournal.com\/prague-office-vacancies-down-3-in-q1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prague Office Vacancies Down 3% In Q1 - Prague Business Journal\" \/>\n<meta property=\"og:description\" content=\"Prague, May 1 (CTK) &#8211; The vacancy rate for office space in Prague decreased annually by 3.2 percentage points to 6.2 percent at the end of Q1, going down by more than a half over the past two years, Prague Research Forum (PRF) data have shown. &nbsp; Prague 3 registered the highest rate of 11.1 ... 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