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Free office space is dwindling in the Czech Republic. The office vacancy rate in Brno, as well as in Prague, has slipped below 10%. Both cities experience the lowest rate of vacant offices in the last decade. Brno recorded a sharp decline by 2.4 percentage points in H1 2017, while in the capital demand totalled 153,500 sqm in Q2 2017, up 45% on the previous quarter and 36.9% year-on-year. Overall, more than 370 deals were closed in Prague in H1 2017, many of which were pre-leases. In contrast, in Brno there was an 8% drop in lettings compared to H2 2016.

Net take-up on the Czech industrial market in Q2 2017 totalled 231,200 sqm, representing a yearly decrease of 11%. The vacancy rate reached 4.1%, having decreased marginally by 6 bps since Q1 2017. The Industrial Research Forum announced the industrial market figures for Q2 2017. 

The office market in Warsaw maintains momentum with demand for office space reaching 194,000 sqm in Q1 2017. JLL summarized Q1 2017 on the office market in Warsaw.

Net take-up on the Czech industrial market in Q1 2017 totalled 238,800 sqm, representing a yearly increase of 13%. The vacancy rate reached 4.7%, having decreased marginally by 4 bps since Q4 2016. The Industrial Research Forum announced the final Industrial Market figures for Q1 2017. 

Nearly 100,000 sqm of new office space was delivered to the Budapest market in 2016, the highest figure since 2010. Meanwhile, demand picked up in the last quarter of the year with a large share of the total leasing volume made up of pre-leases and new transactions. At the same time, the office vacancy rate has returned to its downward trajectory, reaching 9.5%, the lowest rate on record.