The end of Q1 sees the Czech Republic on fragile ground with continued government austerity in the form of spending cuts and tax rises. This is undermining business sentiment and impacting on demand for office space. On paper the figures may look promising but underpinned by renewals in the main and cost conscious occupiers. Rents in Prague’s CBD held firm over the quarter, but falls were seen in other submarkets of the capital, with leases typically accompanied by incentive packages.
Source : Cushman & Wakefield