During the last year, seven administrative buildings were built in the capital, so the offices in Prague occupied an area of 3.9 million square meters at the end of the year. Among the completed buildings are, for example, Masaryk, an office monument near Masaryk ndra designed by the Zaha Hadid Architects studio with an area of 22,200 square meters of offices, the Port7 office in Holeovice, there is approximately 36,000 square meters of offices or Nov Waltrovka in Jinonice.
The whole store |
In total, builders in Prague completed 98,400 square meters of office space last year, an increase of 31 percent. Compared to the ten-year average, it is still twenty percent less, said Marie Mockov, spokesperson for the Real Estate Market Development Association (ARTN). According to the analysis of the Prague Research Forum, on the other hand, at the end of the year, demand increased by twofold quarter-on-quarter and by ten percent year-on-year.
Leads Prague 4 and 5
If those millions of square meters of office space may seem huge, don’t be complacent. At the end of this year, 92.8% of office space in Prague was occupied.
In the meantime, the vacancy rate fell to 7.2 percent, which means that only 280,700 square meters were vacant, explained Marie Mockov. Vacancy is most likely in the locations with the most office space, i.e. in Prague 4 and 5. The trend of declining demand caused by the coronavirus pandemic has thus begun to reverse.
Completed office
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According to ARTN, the most modern offices can be found in those locations. More than a quarter of them are in Prague 4, where they take up almost 968,000 square meters of space. The second largest office location is Prague 5 with 647 thousand meters (17%). It is followed by Prague 8 (624 thousand meters, 16.4%) and the historic center of the first city street, which is also somewhat limited, is part of this city, and has 532,500 meters (14%).
The new administrative building is gradually expanding to other urban centers, namely to Prague 7, Prague 9 or Prague 10. According to the strategy editor of the UDI Group development group Marcela Fialkov, we can expect the demand to increase in the current and fifth years.
The course will include five peak buildings offering the highest standards of both environmental and indoor environment quality (combining LEED, BREEAM and WELL certification, editor’s note), noted Fialkov. In this way, according to them, companies will try to lure back to their offices employees who, according to them, are not so effective in the home office.
