The Czech industrial and logistics real estate market closed Q1 2026 with strong results, completing approximately 307,000 sqm of new space - the second-highest volume of new construction in a single quarter in history. The market added its largest industrial building in modern domestic history, with construction activity remaining high, vacancy rates at a healthy 4.7%, and stable rents.
The total area of modern industrial and logistics space in the Czech Republic reached approximately 13.6 million sqm by the end of Q1, following completion of roughly 307,000 sqm of new space. The increase was primarily driven by the handover of Building F at Panattoni Park Cheb, with an area of approximately 214,000 sqm, ranking among the largest projects in modern Czech industrial market history.
"Construction activity remained at a high level; approximately 1.54 million sqm is currently under construction, of which roughly one-third is speculative," says Josef Stanko, Director of Market Research at Colliers. The most active developer was CTP Invest, with approximately 46% share of area under construction. The volume of approved projects remains high at approximately 2.77 million sqm, with another 2.5 million sqm undergoing various stages of permitting.
The overall vacancy rate fell slightly to approximately 4.70% at the end of Q1, corresponding to roughly 639,100 sqm of immediately available space. "From a historical perspective, this is a healthy level, corresponding to pre-pandemic figures," explains Stanko. Gross take-up reached approximately 414,000 sqm, 8% lower than the five-year average, with net take-up excluding renegotiations at approximately 189,000 sqm.
Prime rents remained stable across major locations due to low vacancy rates and limited supply of speculative projects. In Prague and surroundings, prime rents continued to range between €7.00-7.50 per sqm per month. "The Czech industrial and logistics real estate market remains in a strong position for the remainder of 2026," summarizes Stanko, though noting that the international environment has become more complicated since the turn of the year.
