2022-10-27-莱坊-European_Office_Dashboard_-_Prague_Q3_2022_2页_362kb

Power BI Dashboard Summary: Occupier Market, Q3 2022

• Market Overview: Office leasing experienced a slowdown despite overall improvement, with vacancy rate decreasing by 20 basis points quarter-on-quarter. Prime rent remained at €306, facing upward pressure from rising construction costs, particularly in newly built properties.

• Take-up and Supply: Quarterly take-up reached 137,749 square meters, a 2.5% year-on-year increase. New completions in Q3 2022 added 18,200 square meters in Prague, raising total office stock to 3.8 million square meters, with further construction underway.

• Economic Factors: Uncertainty is prompting occupiers to shorten lease terms and renegotiate leases, which was unusual previously. Economic indicators show declining workplace mobility and rising unemployment in the Czech Republic, impacting employment expectations and service sector confidence.

• Data Sources: All figures and analysis derived from Knight Frank Research, with additional context from Eurostat and Google Mobility data.