PRF: Prague office vacancy stable at 11.6%

At the end of the third quarter of 2011, Prague’s stock of modern office space stands at 2.77 million sqm, according to the Prague Research Forum. Of that, 68% is located in A-class properties, with class B making up the remainder. Half a dozen new office buildings were added (nearly 50,000 sqm) in the third quarter: Main Point Karlin, River Business Centre, Smichov Lyra, Centrum služeb Budějovická, Egon Business Centre and the renovation of Ehlenuv dum in Prague 1. Another 38,000 sqm is due to come on line before the end of the year. Take-up for QIII was down 49% from QII at nearly 50,000 sqm, while vacancy remained stable at 11.6%.

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