Czech Republic Industrial property shortage persists
Warehouse & industrialschedule 20 November 2023
Developers still see potential in the Czech market
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According to a survey by Colliers, although there is currently more than 1.5 mln sqm of space under construction, there are few newly completed projects, and the vacancy rate remains below 2 pct.
The total supply of modern industrial space in the Czech Republic increased by only 182,200 sqm during Q3 2023, bringing the total to 11.44 mln sqm at the end of September. Rents have stabilised after rocketing over the last three years and at the end of September were between EUR 7.50 and 7.70 per sqm per month for warehouse space and EUR 9.50 and 12.50 per sqm per month for office space.
The pace of delivery of new projects to the market is lower than we expected. Compared to general assump
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