Q4 2025: Prague Office Market Enters 2026 with Limited Supply and Rising Rental Pressure
The Prague office market closed 2025 amid a pronounced shortage of new supply and sustained occupier demand. Gross take-up reached 143,000 sq m, exceeding the five-year average by 8%, while net take-up totalled 317,800 sq m. The share of renegotiations declined year-on-year to 45%, confirming a gradual shift in leasing activity towards new occupancies.
View or download
New office completions remained at a historic low, with only 26,600 sq m delivered in 2025. As a result, the vacancy rate fell to 5.9%, the lowest level since 2020. More than 60% of space currently under construction has already been pre-let, further constraining the availability of high-quality offices in the short term and prompting occupiers to make earlier leasing decisions and show greater flexibility on lease terms.
Prime rents across key Prague submarkets remained stable in the fourth quarter, although some locations—most notably Prague 8—recorded year-on-year growth. Leasing activity was led by the financial sector, followed by energy and technology companies. The combination of limited supply, subdued development activity and a stable economic environment is expected to support further rental growth during 2026.
Head of Office Agency
Head of Research
