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Articles - kancelářské plohy

Prague offices will soon be in short supply, the price of their equipment is driven up by ESG and modern standards

High demand and a lack of new projects caused a decrease in the vacancy rate of Prague offices, which currently stands at 7.26%. The volume of new construction and renovations was approximately 143,600 square meters at the end of Q2 2023, and the total market size was 3.85 million square meters. Reference rent prices have not changed in any way compared to the previous quarter, however, in connection with ESG and modern standards, the price of office equipment is increasing. It can easily exceed 1,000 euros per square meter. That's according to a survey by Colliers, a leading provider of diversified professional services in commercial real estate and investment management.

Searching for a "new" office

The operation of contemporary offices shows that the intersection between work and personal life is increasing. The personal life of employees has an ever-increasing influence on companies' decisions about choosing a suitable office. On the other hand, employees are considering working corners at home for a comfortable home office or close commuting distance to work.

Prague: demand for coworking is growing

Working in coworking offices, i.e. in shared spaces, is gaining more and more popularity. Not only is the interest of companies in the volume of rentals of such capacities growing, but also the total share of coworking spaces on the Prague office market.

Is there a shortage of offices in Prague?

The construction of no office building has been started in the Czech capital for a whole year, and none was completed during the past quarter. Of course, these are not the only current parameters of the Prague office market, but according to the regular report of the Prague Research Forum, they say a lot about its state.

Heureka, Mercedes and Forest Hat. Check out the best offices of the year

The Office of the Year competition annually evaluates the best investments in office space and the attractiveness of the environment for employees. The current seventh year, in which ten winners shared the award, showed trends in contemporary workspaces.

Colliers presented a price map of offices, the construction of route D of the Prague metro will bring new opportunities

The company Colliers, which belongs to the top in the provision of diversified professional services in the field of commercial real estate and investment management, has prepared a unique price map of office space in Prague. The map indicates that for the highest rents, offices are rented at centrally located metro stations such as the Museum or Náměstí Republiky, while the lowest rents are around Petřiny or Náměstí Míru stations.

Lenka Preslová became the commercial director for commercial real estate of developer Crestyl

In February, the development and investment group Crestyl appointed Lenka Preslova as its commercial director for commercial real estate. In the newly established position, she became part of the management of Crestyl in the Czech Republic, where she will lead the team dealing with the leasing and management of commercial real estate - both office and retail.

The Prague office market is expecting an increase in rent prices next year

After three quarters this year, the Prague office market already exceeded the volume of transactions from the covid years 2020 and 2021. The year-on-year increase in gross and net realized demand, i.e. new contracts and their extensions, amounted to 38 percent. Office vacancy has fallen by 0.3 percentage points since the start of the year to 8.1 percent, and demand for flexible space is growing. Prices will increase in the coming year, which, according to representatives of construction and real estate companies, will be reflected in inflationary clauses in contracts and energy prices.

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