Prague’s office market may expand by up to 600,000 m² of new space by 2029, according to Colliers.

The city currently has 3.94 million m² of offices, but completions this year remain at record lows.

Only 11,300 m² was finished in the second quarter of 2025, bringing the year’s total to 26,600 m². Despite the slow pace, construction is picking up: four projects started in Q2, raising the pipeline under construction to 212,600 m².

By the end of 2025, five additional projects with a combined 119,500 m² are expected to start, all in Prague 4. This could move demand back to areas such as Pankrác, Brumlovka, and Roztyly, where new supply has been limited in recent years.

“If at least half of the planned projects proceed, the market will finally get a much-needed supply of offices,” said Josef Stanko, Director of Market Research at Colliers. He expects most new completions between 2027 and 2029.

Gross demand in the first half of 2025 reached 253,100 m², similar to recent years. Net demand was 97,400 m², almost equal to renegotiations and subleases (94,700 m²).

Large pre-leases continue to shape the market. ČEZ secured three buildings in Smíchov City, while Creditas Bank began construction of its new headquarters in Rohan City A2. Together, the two commitments cover about 61,000 m².

Rents Expected to Rise

Prime office rents remain €30 per m² per month in the city center. In the wider center — Karlín, Smíchov, Pankrác — rents edged up to €20.50, while outer areas stayed at €16.50.

Colliers expects rents to rise further, to €35 in the center and €25 in the wider center, as demand stays strong and supply remains limited.

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