Czech Republic Low completions, rising vacancy

While demand has returned to almost pre-Q1 volumes, the amount of new project completions has remained low. Only 106,700 sqm of new space was delivered: the lowest amount in three years. The vacancy rate increased by three basis points to 3.13 pct and prime rents stabilised at around EUR 7.50 per sqm. With many projects planned for this year having been postponed, developments for 2025 nonetheless look significantly more positive, given that 870,300 sqm of new space is expected to be completed.