Office rents in Prague hit record highs amid limited new supply

Rents for modern office space in Prague have reached all-time highs, driven by low vacancy and limited new construction, according to a Colliers analysis. In Q1 2025, average rents near metro stations rose to €17.4 (CZK 435) per square meter, with city center rates exceeding €30. Prague now has the lowest vacancy rate among Central and Eastern European capitals, with only 7% of 3.96 million square meters unoccupied. Despite high demand, only one new project was completed in Q1, and 2025 is expected to see the lowest annual office supply in a decade.