The Czech industrial and logistics real estate market remains stable despite global economic uncertainty, according to an analysis by Colliers. Total modern industrial and logistics space in the Czech Republic reached 13.7 million sqm in the second quarter of 2026, with gross take-up of approximately 460,000 sqm, close to the five-year average. The average vacancy rate rose gradually to 5.5%, while rents remained stable in most regions.
Approximately 446,200 sqm of new space was delivered in the first half of 2026, a 2.5% year-on-year decline, though completions remain at levels seen during the pandemic-era construction boom. Developers concentrated 69% of new supply in and around Prague and the Central Bohemian Region. Around 1.48 million sqm is currently under construction, of which 43% is being built speculatively. "Construction activity remains at a high level. The greatest amount of construction is taking place in Prague and in the Central Bohemian Region, and the Ústí Region is also very active. CTP Invest is the clear leader among developers, accounting for approximately 44 percent of all ongoing construction," said Josef Stanko, director of market research at Colliers.
The vacancy rate of 5.5% at the end of Q2 2026 represents approximately 753,400 sqm of immediately available space, the highest level since the third quarter of 2015. Net take-up, excluding renewals, renegotiations and subleases, totalled roughly 256,800 sqm, a 45% year-on-year increase, with existing properties accounting for 56% of total realised volume. "Manufacturing companies clearly dominated the tenant mix, making up approximately 41 percent of gross realised demand. Logistics and transportation firms accounted for roughly 21 percent, and distribution companies held the same share," noted Stanko.
The highest achievable rent in Prague ranged between €7.00 and €7.50 per sqm per month, broadly unchanged from the previous period. Rents in most regions are supported by low vacancy rates and limited speculative supply. In the Moravian-Silesian and Pilsen regions, however, rising vacancy and greater availability of space have prompted landlords to offer more competitive terms to retain and attract tenants.
Looking ahead, approved but not yet started projects total approximately 2.72 million sqm, with a further 2.5 million sqm in various stages of permitting, bringing potential future supply above 5.2 million sqm, concentrated along the D5, D1 and D48 highway corridors. "The strength of the Czech industrial real estate market has so far made it a stable investment space for developers and funds. Now it appears that growth in the volume of potential projects is slowing down, and approved projects are finally beginning to be implemented, just as a large number of speculative buildings are being completed. In some regions, this could lead to an oversupply. However, if the market does not deviate from its traditional cycles, we can expect it to absorb new buildings just as quickly as it has done so far," said Stanko.
