Prague 1, Prague 8 (Karlin & Invalidovna) and Prague 4 (Pankrác & Budějovická ) have been the city’s most dynamic office districts since 2022. According to a new report from Savills, the 8th, 4th and 1st district were responsible for 19%, 15% and 14% of new deals respectively.
The scale of this activity is substantial. Prague’s office market has maintained robust momentum with average annual leasing activity of 534,000 sqm over the past three years, while net demand averaged 246,700 sqm yearly. Grade A offices captured 78% of all net take-up, underscoring a decisive “flight to quality.” This quality focus is further evidenced by lease renewals, which averaged 276,100 sqm annually, with Grade A renewals alone reaching nearly 272,000 sqm in 2024.
From a business sector standpoint, technology companies led office demand with 23% of total take-up between 2022-2024. They’re strongest in Karlin & Invalidovna, while deal patterns suggest that finance firms now prefer City Center locations. New development projects in Roztyly, Chodov & Opatov, Libeň & Palmovka and Anděl are creating fresh opportunities for tech firms thanks in part to improving, modern infrastructure.
In all, Savills identifies 12 major office hubs in Prague with significant Grade A office concentrations that have emerged over the past couple decades – each with their own leasing patterns.
Savills head of office Pavel Novak points out that neighborhoods evolve in reaction to the businesses that appear in them. And he gets pretty specific. “As new companies move into the district, the surrounding area transforms – from restaurant offerings to housing prices. In city areas like Karlín or Holešovice, where tech firms are concentrated, new cafés serving flat white, bistros with ramen or vegan menus are opening.”
By contrast, says Novak, it’s more about canteens, lunch menus and ample parking in locations like Vysočany or Butovice, where manufacturing and logistics companies prevail.
“Each type of business brings its own rhythm to the district –gradually reshaping its atmosphere, appearance and the way people live there.”
