“Prague is sometimes referred to as the Paris of the East due to its architecture. Now it is compared to Paris for one more reason. The cost of renting warehouse space has reached almost the same level as in Paris,” explains Chris LaRue, head of industrial real estate leasing for the Czech and Slovak markets at the consulting firm Savills. Close behind Prague are Barcelona and Berlin.
“On average, rents for warehouse space in the 52 monitored global markets increased by 8.4 percent last year. In Prague, however, it increased by 35.8 percent. Only the port city of Los Angeles saw a more significant increase,” adds LaRue.
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