Prague Office Market Q2 2026: Renegotiations Reach 69%
Prague’s office market recorded 125,000 sqm of gross take-up in Q2 2026, up 21% q/q but 24% below the previous year. Net take-up reached 38,800 sqm, while renegotiations represented a record 69% of all deals. Vacancy remained unchanged at 5.8%, reflecting limited choice for tenants.
Renegotiations Dominate Leasing Activity
Technology generated 21% of Q2 net demand, followed by pharma and medical occupiers with 16% and professional services with 10%. The largest transaction was Seznam.cz’s 14,000 sqm renegotiation at Palác Křižík. Other major deals included 8,000 sqm at The Park – building 3, 4,500 sqm at Villas, Brumlovka, and two 4,000 sqm renegotiations at Coral Office Park D and DOCK IN FIVE.
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Development Pipeline Expands
Prague’s total office stock remained at 3.95 million sqm. One project completed in Q2 added 20,800 sqm, bringing quarterly completions to 21,000 sqm, up 215% y/y. A further 309,000 sqm was under construction, 46% more than a year earlier, and almost 60% of this space was already pre-leased.
Rents Reflect Local Supply Conditions
Prime rent in Prague 1 held at EUR 30.00/sqm/month, with vacancy at 3.7%, down 84 bps y/y. Prague 4 rent remained at EUR 20.50/sqm/month and Prague 5 at EUR 18.00/sqm/month. In Prague 8, prime rent increased by 26% y/y to EUR 24.00/sqm/month, while vacancy stood at 3.8%.
In the next half-year, the key indicators will be deliveries from the 309,000 sqm pipeline, pre-leasing levels and their effect on tenant choice. Rental growth will also remain in focus, particularly in locations where ongoing developments and limited availability continue to shape market conditions.
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