PL

Czech Republic Prague metro dictates rents

Office & mixed-use development
Colliers has prepared a price map for office space in Prague, which shows that the highest rents are found close to such centrally located metro stations as Muzeum or Náměstí Republiky, while the lowest are found outside the centre, closer to stations such as Petřiny or Náměstí Míru.

The areas surrounding Prague metro local stations represent ideal locations for the construction of new offices, providing excellent transport accessibility and offering a wide range of services and amenities.

These are aspects people often consider when deciding whether to accept a job offer. They do not want to spend too much time going to and from work, so it is important that offices are no more than a 10-minute walk from the nearest metro station.
Jana Vlková, the director of workplace advisory and office agency at Colliers in Prague

The map shows that the most expensive offices are currently located near the Muzeum and Náměstí Republiky metro stations (EUR 26.50 to EUR 27.00 per sqm per month), the cheapest around the Petřiny station (EUR 10.50 per sqm per month) and Náměstí Míru and Radlická (EUR 12 per sqm per month), where no new developments have been built for a long time to push rents higher. The most important thing is not the distance from the city centre, but the location’s quality and amenities.

As office development in Prague is mainly directed towards metro stations, interesting new projects can soon be expected in the vicinity of the ten new D line metro stations currently under construction. Within a few years, more than 6,000 new apartments will be built here alongside tens of thousands of square metres of modern offices.

Although the first metro train is not due to run on the new line until 2029, there are already plans for office buildings around some of the future stations. One of the largest office locations would be at or near the Nové Dvory station. However, we expect that prices in these locations will have to respect the levels in established office markets. Market pressure to add value in the form of innovative, sustainable buildings with diverse amenities will push rents up everywhere, depending on how financing, construction and materials costs evolve.
Josef Stanko, a senior analyst at Colliers

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