2024-02-05-莱坊-European_Office_Dashboard_-_Prague_Q4_2023_2页_498kb

报告摘要

This summary outlines the key trends and figures in the Prague office market for the fourth quarter of 2023, based on Knight Frank Research data.

High Leasing Activity: Q4 2023 saw strong leasing activity, with gross take up almost double that of Q3 2023.
Renegotiations Dominated: Renegotiations accounted for 60% of total leasing activity, indicating a shift in demand and supply dynamics.
Major Transactions:
- Avast Software in Enterprise Office Center (Prague 4): 12,200 sqm
- MSD Czech Republic in Five (Prague 5): 11,300 sqm
- MSD Czech Republic in Riverview (Prague 5): 6,200 sqm

Prime Rent Increase: Prime rents rose in Q4 2023, ending a period of stability.
Rental Growth: A 2% quarter-on-quarter increase and a 4% year-on-year increase in prime rents.

Low Construction Activity: Recent years have seen minimal new supply, contributing to upward rent pressure.
Supply Below Average: The total new supply in 2023 was 98,000 sqm, below the ten-year average of 124,000 sqm.
Future Outlook: No new supply is expected in Q4 2023, and only 100,000 sqm is anticipated for 2024 and 2025.

Landlords' Market: The market is currently in a landlords' favour, with limited supply and strong demand.
Expected Stability: This trend is expected to continue into 2024.

Unfilled Job Vacancies: Remained stable in Q4 2023, reversing a downward trend from the previous year.
Labour Scarcity: Challenges in the labour market are attributed to a poor demographic profile and migration to other EU countries.

Service Sector: Employment expectations improved in Q4 2023 but remain in negative territory.
Potential Cooling: The labour market may start to cool slightly in the coming months.

Unemployment in December 2023: Increased to 3.7%, still well below the ten-year average of 4.8%.

Confidence Fluctuations: Slight fluctuations in the service sector confidence indicator.
Interest Rates Impact: High interest rates are affecting consumer spending and the outlook for the service sector.