As of 2025, the total volume of modern office space in Prague amounts to approximately 3.96 million m², with a vacancy rate of 7.0%, one of the lowest levels in Central Europe. In Q1 2025, only one new building was delivered — E‑Factory with 8,700 m². The development pipeline remains limited, with just 17,900 m² of new or refurbished office space expected to be completed throughout the year.
This shortage of supply, combined with high business demand, is driving rental prices upward. Prime rents in the city center have reached €29–30 per m² per month, while rents in other areas range from €16.50 to €20, depending on the district.
💰 Average Asking Rent Across Prague
By the end of 2024, the average asking rent across Prague stood at approximately CZK 390 (~€15.5) per m² per month, marking a 6.3% increase compared to the previous quarter.
📍 Key Office Districts and Rental Rates
| District | Rental Rate (€ / m² / month) | Notes |
|---|---|---|
| City Center (Prague 1, 2) | 29–30 | Prime Class A offices with excellent accessibility |
| Karlín (Prague 8) | ~20 | Popular among tech and creative industries |
| Greater Center (Prague 3, 4, 5) | 19–20 | Multifunctional complexes in active redevelopment |
| Smíchov (Prague 5) | 14–17 | Rapidly evolving area: River City, Smíchov City projects |
| Hlubočepy (Prague 5) | from 14 | New, eco-conscious offices with good transport links |
| Peripheral Areas (Prague 6, 9, 10) | 15.5–16.5 | Affordable, ideal for logistics and outsourcing operations |
| The Park (Chodov) | from 10 | One of the most accessible Class A complexes in south Prague |
| Keystone (Karlín) | from 18 | New ESG-compliant developments |
🔧 Infrastructure Projects in 2025
- Smíchov City (Prague 5) – A large-scale mixed-use urban project to be developed through 2032, including offices, residential units, schools, retail and public spaces.
- E‑Factory (Prague 9) – A next-generation office complex of 8,700 m² delivered in Q1 2025.
- Isola (Prague 4) – A redevelopment of 8,200 m² of office space expected to complete in 2026.
- Kotva (Prague 1) – Renovation of a historic department store into premium office and retail space, with completion scheduled for 2027.
📈 Current Market Trends
- Office completions are at one of their lowest levels in over a decade.
- 40% of leases signed in Q1 2025 were for newly delivered space, while 60% were lease renewals.
- Strong demand from multinational tenants, particularly in the IT and financial sectors.
- Growing preference for offices with sustainability certifications, such as BREEAM and LEED.
🧭 Tenant Recommendations
- Premium businesses should focus on the city center and Karlín, with rental budgets starting from €29/m².
- Mid-range tenants can consider districts like Prague 4 and 5, where rents range from €14 to €20/m².
- Cost-sensitive tenants can explore south and east Prague, where rates start below €15/m² — ideal for startups, logistics, and hybrid work models.
🧾 Conclusion
Prague’s office market in 2025 is defined by low vacancy, constrained supply, and rising rental prices. The city center and Karlín remain the most expensive and in-demand areas, while emerging hubs like Smíchov, Chodov, and Prague 9 offer attractive alternatives. In a market where new space is limited, tenants are advised to plan early and secure long-term leases aligned with shifting demand and sustainable design trends.
