Czech Industrial Market Q2 2026: Leasing Improves as Vacancy Rises
The Czech industrial and logistics market strengthened in Q2 2026. Gross take-up reached 451,600 sqm, up 9% q/q and 45% y/y, while new supply totalled 144,600 sqm. Vacancy increased to 5.5%, and 1.15 million sqm was under construction.
Leasing Activity Strengthens
Prague and Central Bohemia accounted for 48% of net take-up, followed by the Ústí nad Labem and Pilsen regions at 14% each. Manufacturing drove demand, representing 47% of net take-up excluding undisclosed tenants. Renegotiations accounted for 45% of gross take-up, while both pre-leases and new leases recorded shares above 22%.
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New Supply Lifts Availability
Q2 new supply fell 52% q/q and 40% y/y to 144,600 sqm across nine logistics parks, with around 45% delivered speculatively. Vacancy rose by 79 bps q/q and 67 bps y/y to 5.5%, equal to 751,000 sqm available for immediate occupation. New construction starts totalled 62,400 sqm, the lowest volume since Q4 2020, while the speculative share of space under construction fell from 36% to 29%.
Rents Stable, Investment Activity Slow
Prime rents in Prague remained stable at EUR 7.25/sqm/month, while the prime industrial yield stood at 5.00%. Only two industrial and logistics investment transactions were recorded in Q2, totalling approximately EUR 35 million. The largest was the DB Schenker site in Rudná, acquired by Prologis.
In the next half-year, vacancy and the pace of new construction will remain key indicators as speculative deliveries affect availability. Leasing activity improved in Q2, while investment transaction activity remained relatively slow despite continued investor appetite.
Head of Industrial
Head of Research
