There is a shortage of high-quality office space in Prague. As a result, companies prefer to extend their leases rather than move

The shortage of high-quality office space in Prague continues into the second quarter of 2026. The vacancy rate remains at 5.8 percent; developers are completing only a few new projects, so companies are increasingly choosing to stay where they are.

Vacancy Rate Low, Even Lower in the City Center

The vacancy rate for office space in Prague remained at 5.8% in the second quarter of 2026, down 70 basis points year-over-year. In absolute terms, this amounts to approximately 229,100 m² of vacant space. The tightest market conditions are in Prague 2 (1.3% vacancy rate) and Prague 1 (3.7%)—precisely the locations in which companies have shown the greatest interest over the long term. Conversely, the highest vacancy rates remain in Prague 10 (11.4%) and Prague 3 (11.2%).

Renegotiation Instead of Relocation

The demand structure is clearly dominated by extensions of existing leases—which accounted for 69% of all transactions in the quarter. New leases and space expansions accounted for 29%, while subleases accounted for only 2%. Companies thus prefer to remain in familiar spaces rather than face the risks and costs associated with moving to another building—a logical step where the supply of quality alternatives is limited and new projects are often largely occupied even before completion.

New supply is growing only slowly

Only one major building was completed in the second quarter—the revitalized Danube House (20,800 m²) in Prague 8. Currently, 309,300 m² of office space is under construction in Prague, of which approximately 58% already has a tenant secured. By the end of 2026, only one additional project totaling roughly 8,200 m² will be added, so the year-over-year increase in new supply will total a modest 37,600 m². Construction is concentrated primarily in Prague 5 (39%) and Prague 4 (36%), with Class A buildings accounting for about 72% and the most prestigious AAA category exceeding 15%.

Rents in the city center remain stable, while rents outside the center are rising

The highest achievable rent (prime rent) in the very center of Prague remains stable at 30 EUR/m²/month. However, in inner districts it has risen to 21.50–22.50 EUR/m²/month, and in outlying areas to 16.00–17.00 EUR/m²/month. A combination of limited supply and rising construction costs is keeping prices under constant pressure—even outside the traditionally most expensive city center.

What this means for companies looking for office space

In a market where the supply of quality space is tight, it pays to start your search early. Many attractive listings are snapped up before they even reach public advertising. The NajdiKanceláře.cz team combines up-to-date market data with access to off-market listings to help companies find spaces that meet their requirements and budget.

Data source: 108 REAL ESTATE, Q2 2026.