The Czech Republic is not playing second fiddle to the Polish or Hungarian markets, as suggested by the demand and the increase in the ratio of new leases. The end of Q3 2025 has seen more than a million square meters of warehouse and manufacturing space under construction in the Czech Republic, according to the report on Q3 2025 Market Figures by the Industrial Research Forum.
Almost 1.3 million sqm of industrial space under construction represents the highest volume since Q3 2023. This represents an increase of 3% quarter-on-quarter and 22% year-on-year. As in the previous quarter, approximately 30% of the total space under construction was located in Prague and the Central Bohemian Region, followed by the Karlovy Vary Region with a 21% share. The total stock of modern industrial space for lease in the Czech Republic reached 12.86 million sqm.
In Q3 2025, 130,800 sqm of new warehouse space has been delivered to the market across twelve industrial parks in the Czech Republic, representing a 1% decrease compared to the previous quarter. Year-on-year, new supply has dropped by 20%.
“The third quarter of 2025 was significantly livelier than the rest of the year. While vacancy rates and base rents remained more or less stable, robust construction and market demand showed that the market remains strong. Although new construction continues to decline, in the context of the decreasing number of shell & core buildings, we see developers' efforts to provide tenants with flexible conditions,“ commented Miroslav Kotek, Head of the Industrial Agency team at Colliers.
The largest completed industrial hall in Q3 2025 was located in CTPark Blatnice (27,200 sqm), fully leased to Redcare pharmacy. The second largest project was the partial completion of a hall in CTPark Prague North (19,000 sqm) leased by multiple tenants. The third largest completed project was in DMC Paskov (13,500 sqm), leased to Lenzing Biocel.
The share of speculative construction slightly decreased quarter-on-quarter to 35%. In Q3 2025, construction started on approximately 109,400 sqm of modern industrial space, 42% of which was on a speculative basis.
Gross take-up (including renegotiations) was 608,900 sq m in Q3 2025, year-to-date reaching 1,426,100 sqm, thus almost overtaking full-year 2024 demand. This represents a 100% increase compared to the previous quarter and an 82% year-on-year increase. The share of renegotiations within total year-to-date gross take-up dropped to 41%.
The three largest deals were all done by undisclosed tenants. First was a tenant who pre-leased 54,600 sqm of space in VGP Park České Budějovice. The second largest was a new lease signed in Prologis Park Jirny by a wholesale distribution company, covering 52,200 sqm. The third largest transaction was an expansion of an automotive producer in Panattoni Park Ostrov North, signed for an additional 46,500 sqm.
At the end of Q3 2025, the vacancy rate in the Czech Republic stood at 4%, representing a year-on-year increase of 94 basis points. As of the end of September 2025, there were nearly 512,500 sqm of modern industrial space available for immediate occupancy. Vacancy in Prague and the Central Bohemian Region has consistently remained below the national average, reaching 2.2% at the end of Q3 2025.
Prime headline rents remained at the level of around €7.00 - €7.50 sqm/month in the Czech Republic in Q3 2025. Selected prime locations outside of Prague follow a similar development, achieving around €5.60-6.60 sqm/month. Rents for mezzanine office space stand between €9.50 and €12.50 per sqm/ month.
