Office Rental Rates in Prague: A Comprehensive Overview and Outlook for 2026/2027

The supply of high-quality office space in Prague still remains significantly limited this year. The total area of modern office space in the capital reached approximately 3.95 million square meters at the end of the second quarter, while the vacancy rate remains stable at 5.8 percent: the lowest level since 2020. According to analyses by Colliers, office availability in Prague is highly uneven. In premium AAA-class buildings in the city center, the vacancy rate is just 2.3 percent, compared with 2.7 percent in Karlín. Meanwhile in more outlying areas, such as Nové Butovice and Stodůlky, it exceeds 10 and 17 percent, respectively. The area around the Želivského metro station has long recorded Prague's highest vacancy rate, at 28 percent.

Office rental rates in Prague

Office rental rates in Prague vary significantly depending on location and building quality. The city center and major transportation hubs (like the Náměstí Republiky and Muzeum metro stations) traditionally command the highest rents. Rates in these areas have long remained at 30 euros per square meter per month. Other subway (metro) transfer stations, such as Národní třída and Křižíkova, also command high rents. Over the past five years, prime rents in downtown Prague and its immediate surroundings have risen by more than 30 percent. In the broader city center (in areas such as Karlín, Smíchov, Pankrác and Brumlovka), rents continue to rise slightly, ranging from 21.50 to 22.50 euros per square meter. For the most modern developments in Karlín, they reach up to 24 euros. In the outlying parts of the city, according to the latest available data, rents range from approximately 16 to 17 euros per square meter per month, while the cheapest areas near metro terminal stations on the outskirts of Prague, such as Petřiny or Zličín, remain between 10 and 13 euros.

Companies often remain in their current offices

Today, demand for office space in Prague is driven primarily by a need for premises coupled with a continued shortage of available, completed space and the high costs associated with moving. This has led to a significant proportion of renegotiations: that is, the reworking and extension of existing lease agreements. According to Colliers, these renegotiations account for approximately 70 percent of gross realized demand. This volume totaled approximately 125,400 square meters in the second quarter of 2026. As a result, companies often remain in their current locations and extend their leases: the average duration of which now exceeds seven years. Plus, they also strive to use their interior spaces more efficiently. In terms of industry sectors, technology firms are among the most active tenants, accounting for over one-third of total demand, followed by companies in the pharmaceutical and healthcare sectors.

Office rentals in Prague will become more expensive

Construction activity in the Prague market is gradually picking up after years of decline, although only a single project (the extensive renovation of the Danube House building in Karlín) was completed in the second quarter of 2026. Over 309,000 square meters of office space is currently under construction. Nearly 58 percent of this has already been pre-leased. A growing trend centres on the build-out or renovations of so-called "boutique offices" in prestigious central locations, such as the Vinohradská 8 project in Prague 2, Hybe on Hybernská Street and Palace Hybernia. The outlook for 2027 and 2028 points to further price growth. This is evidenced by newly planned projects already setting asking rents in the city center above 35 euros (up to 40 euros in exceptional cases). In the wider city center, the range runs from 23 to 28 euros.